United Kingdom

Is Beijing About To Put An Abrupt End To Cross-Border M&A?

Massive capital outflows from China in an effort to preserve capital is something that we've covered extensively in the past (here and here for example). Last month, China's Ministry of Commerce (MOC) came out to do some damage control, and downplayed the extent of the activity. It also hinted that the government would "help" Chinese companies with overseas M&A in the future...

Guest Post: The Great Western Retreat

"This massive deployment of armed forces in our own cities is a departure from history. It is a moral disarmament, before a military one. It is Europe's new Weimar moment.."

US Trade Deficit Tumbles As Overall Imports Plunge, Even As Oil Imports Continue To Rise

In a surprising development, the U.S. monthly international trade deficit decreased substantially in March 2016 from $47.0 billion in February (revised) to $40.4 billion in March, below the $41.2 billion expected, as exports declined by a modest $1.5 billion, a 0.9% drop to $176.62BN from $178.16BN in Feb. At the same time imports outright plunged by $8.1 billion, down 3.6% in March to $217.06BN from $225.13BN in Feb. Curiously this happened just as Canada announced a trade deficit of C$3.4 billion, the widest on record. In March, the US trade deficit excluding petroleum was $37.48 billion.

Obama Brexit Blowback - Majority Of Brits Think Comments "Inappropriate"

Who could have seen that coming? It appears President Obama's ill-advised Op-Ed and visit to The United Kingdom, exhorting his "friends" to 'just say no' to Brexit and vote democratically to stay part of an undemocratic superstate, has backfired for the establishment. A poll by YouGov suggests that Obama's high profile intervention in the UK's EU Referendum failed with 65% of Brits seeing his comments were not "appropriate."

Obama Writes Op-Ed To "Blood Brother" Britain: Don't Leave EU (Or Else)

You know the British establishment is in full panic mode when not only do they allow President Obama to visit the nation just a month after he threw Cameron "distracted by other things" and his European neighbors under the bus over the collapse of Libya, but, despite 100 members of Parliament signing a letter telling Obama "not to interfere" with Britain's domestic affairs, The Telegraph prints an Op-Ed in which the lame-duck president lords it over the British citizenry with a veiled threat that should they "his friends" leave Europe, the "special relationship" could be in jeopardy as "now is a time for friends and allies to stick together."

Europe: Suicide by Jihad

Europe looks like a dying civilization. European political leaders know that every decision they make may provoke reactions among the Muslims living in Europe. Muslim votes matter. Riots occur easily. In France, Belgium, other European countries, Islamists are present in the army and police forces. In the meantime, Islamist organizations recruit and Islamic lobbies gain ground. European governments are now hostages. The European media are also hostages. Political movements expressing anger and concerns are rising. All are demonized by political power holders and the media. They have almost no chance of gaining more influence. Populations are gnawed by fear, frustration and impotence.

Hungary Issues Sovereign Bonds Denominated In Yuan: Another Nail In US Reserve Currency Status?

Hungary priced the three-year bond at a yield of 6.25%, raising 1 billion yuan ($154 million), a small size for a sovereign deal. Bankers not involved in the transaction estimate that if Hungary issued debt in U.S. dollars and swapped the proceeds into yuan, it would have paid almost 1% less in annual interest costs. The dim-sum market isn’t an appealing market right now. Issuance of offshore yuan bonds has been falling consistently since Beijing’s decision to devalue its currency by 2% in August last year—the prospect of another yuan devaluation has sapped much of the appeal of such bonds for offshore investors.

Billion Dollar Lawsuits Filed Following Deutsche Bank's Admission Of Gold, Silver Rigging

Barely a day had passed since the historic admission of gold and silver price rigging by Deutsche bank, which as we reported on Thursday was settled with not only "valuable monetary consideration", but Deutsche's "cooperation in pursuing claims" against other members of the cartel, i.e., exposing the manipulation of other cartel members, and the class action lawsuits have begun. Overnight, two class action lawsuits seeking $1 billion in damages on behalf of Canadian gold and silver investors were launched in the Ontario Superior Court of Justice.

As Ukraine Collapses, Europeans Tire Of US Interventions

On Sunday Ukrainian prime minister Yatsenyuk resigned, just four days after the Dutch voted against Ukraine joining the European Union. Taken together, these two events are clear signals that the US-backed coup in Ukraine has not given that country freedom and democracy. They also suggest a deeper dissatisfaction among Europeans over Washington’s addiction to interventionism.


"Free Stuff" Isn't All That It's Cracked Up to Be

"I have spent years discoursing on the defects of the Capitalist system. I do not withdraw those criticisms. But we have seen the two systems side by side. And the man who would still argue for socialism as the means of ridding our society of the defects of capitalism is blind indeed. Socialism just does not work."

Dutch Referendum May Have Unleashed European "Continental Crisis"

The outcome of a non-binding Dutch referendum on broader European Union ties with Ukraine was too close to call on Wednesday, with a vital turnout threshold hanging in the balance, exit polls showed. The vote, launched by anti-EU forces, is seen as test of the strength of eurosceptics on the continent just three months before Britain votes on whether to stay in the European Union.

Nigel Farage On The Future Of Politics

The era of top-down political operations is ending. Mass membership, open, accessible political movements are the future. Membership structures that are low-cost but allow involvement for those wishing to participate from the comfort of their own homes is where politics is headed, engaging an entirely new section of the population who have been left behind by the distant, remote current political structures. 

"Unprecedented Leak" Exposes The Criminal Financial Dealings Of Some Of The World's Wealthiest People

An unprecedented leak of more than 11 million documents has revealed the hidden financial dealings of some of the world's wealthiest people, as well as 12 current and former world leaders and 128 more politicians and public officials around the world.  The data allows a never-before-seen view inside the offshore world — providing a day-to-day, decade-by-decade look at how dark money flows through the global financial system, breeding crime and stripping national treasuries of tax revenues.