en Global Markets Rebound As Traders Look Beyond Fallout From German Political Turmoil <p>US index futures are unchanged, having recovered virtually all overnight session losses <a href="">alongside the EURUSD </a>following Merkel's <a href="">failure to form a government</a>, while European shares rise despite Angela Merkel's failure to form a new government. In the span of just hours, the goalseeked "hot take" consensus was that Germany’s collapsed coalition talks aren’t expected be a deal breaker for European equities due to the "strength of the German economy." </p> <p>As we pointed out earlier<a href="">, the euro reversed losses </a>as the London session unwound a sell-off in Asian time exacerbated by thin liquidity, while early strength in bunds was also faded. According to Citi, there were 3 possible reasons for the brief dip and subsequent strong rebound: 1. Merkel's failure was already discounted; 2. The market was positioned short ahead of the announcement; 3. There is too little clarity to trade.</p> <p> The Bloomberg Dollar Spot Index shed gains and stood little changed as the pound found a steady bid amid optimism that the U.K. is willing to move toward EU demands on a Brexit divorce bill.</p> <p><img src="" width="500" height="232" /></p> <p>The Stoxx Europe 600 Index rose as Germany’s DAX rebounded from a seven-week low; the Stoxx 600 rose 0.3% while Germany’s benchmark DAX Index climbed 0.2%; DAX futures earlier were down nearly -1%, on concerns surrounding the failed coalition talks in the country. Among European stocks, Automakers and health-care shares outperform after Volkswagen raised sales forecasts, while insurers are worst decliners on the European gauge. European equity traders and analysts say that the political uncertainty in Germany will likely not serve as a trigger for a broader market correction.</p> <p>Still, some were concerned: <strong>“You can imagine this will be bearish for the euro, at least in the tactical near-term, while the market comes to grips with what’s going on and will take a look at what her options are,” </strong>Kay Van-Petersen, global macro strategist at Saxo Capital Market, said in an interview with Bloomberg Television. “I’m fairly confident though that she’ll be able to come up with a different coalition at some point over the next few weeks.”</p> <p>Asia began the week subdued following the losses on Wall St. last Friday and with focus on political uncertainty after Trump campaigners were subpoenaed and German coalition talks broke down. Japanese sentiment was dampened by a firmer JPY and a miss on trade data. Hang Seng (+0.3%) and Shanghai Comp. (+0.3%) were initially negative with underperformance in the mainland as Shenzhen stocks resumed Friday’s sell off and amid reports that China tightened asset management rules to curb risky lending. However, prices then recovered heading into the close as markets took a closer look at plans to curb shadow banking. Finally, 10yr JGBs were uneventful with prices flat, as demand from the dampened risk appetite in the region was counterbalanced by the absence of a BoJ Rinban announcement.</p> <p>The recent pause in the relentless global rally which only cost central banks $2 trillion in liquidity in 2017 comes as investors gauge whether there are sufficient drivers to continue the march to historic highs. Solid earnings are offset by record valuations in virtually all markets, meanwhile red warning signs are being issued by the flattening U.S. yield curve: on Friday, the 2s10s again hit the tightest level in a decade, adding to concern about the pace of future economic growth. </p> <p>On the domestic agenda where recent euphoria was boosted by the momentum of GOP tax reform, over the weekend, Treasury Secretary Steven Mnuchin said he can’t guarantee Congress would preserve tax cuts (let Congress pass them first before worrying about preserving them), while Senator Susan Collins said the Senate tax plan passed by Committee needs work. </p> <p>In international geopolitics, German coalition talks broke down after FDP pulled out of discussions with German Chancellor Merkel's conservatives due to unrealistic differences. S&amp;P affirmed Switzerland at AAA; Outlook Stable and affirmed Netherlands at AAA; Outlook Stable. UK Chancellor Hammond stated that UK is on the brink of serious progress in Brexit discussions, while he also stated the UK will finally begin to see a reduction in public debt and that they will seek to curb health service measures in a balanced way. Reports further suggested that Hammond has put PM May under pressure to promise more money for the Brexit “divorce bill” by suggesting an improved offer will be made to Brussels within three weeks; an offer that the Times believe will be unveiled today. </p> <p>The dollar was steady, while West Texas oil held above $56 a barrel. Meanwhile, pound and gilts traders will focus on a potential downgrade to the U.K. growth outlook this week and the government’s efforts toward agreeing a Brexit divorce bill. Sterling was boosted on Monday by reports that the U.K. was preparing to make an enhanced divorce bill offer to the EU ahead of crucial talks starting next month. </p> <p>South Korea spy agency says North Korea can conduct nuke test at anytime, although there is no sign of an imminent test according to reports in Yonhap, reports also suggest that the North conducted engine tests. </p> <p>This week may see lower than normal volumes due to the Thanksgiving holiday in the U.S. Minutes from the Reserve Bank of Australia’s November meeting are due Tuesday, while those from the European Central Bank’s October meeting due out on Thursday could show dissent in the discussion about tapering. Federal Reserve Chair Janet Yellen gives a talk at New York University. Later in the week, reports on sales of previously owned homes and durable goods orders for October are due in the U.S. The minutes from the Fed’s latest policy meeting are out on Wednesday. Market participants will gauge Fed officials’ eagerness to boost the benchmark interest rate in December, which is widely expected by the market. On Wednesday, the U.K. announces its budget Wednesday; that could see a significant economic downgrade amid a continued impasse in its negotiations with the EU on Brexit.</p> <p><strong>Bulletin Headline Summary from RanSquawk</strong></p> <ul> <li>German concerns short - lived with EUR paring back losses seen in the wake of coalition talks breaking down</li> <li>Weekend press reports in the UK suggest that UK PM May could be on the cusp of&nbsp; promising more money to the&nbsp; EU in order settle the "Brexit Bill"</li> <li>Looking ahead, highlights include potential comments from ECB’s Lautenschlaeger, Draghi, Constancio and BoE’s Ramsden</li> </ul> <p><strong>Market Snapshot</strong></p> <ul> <li>S&amp;P 500 futures down 0.1% to 2,572.25</li> <li>MSCI Asia down 0.07% to 170.29</li> <li>MSCI Asia ex Japan up 0.09% to 559.78</li> <li>Nikkei down 0.6% to 22,261.76</li> <li>Topix down 0.2% to 1,759.65</li> <li>Hang Seng Index up 0.2% to 29,260.31</li> <li>Shanghai Composite up 0.3% to 3,392.40</li> <li>Sensex up 0.2% to 33,396.87</li> <li>Australia S&amp;P/ASX 200 down 0.2% to 5,945.67</li> <li>Kospi down 0.3% to 2,527.67</li> <li>STOXX Europe 600 up 0.01% to 383.85</li> <li>German 10Y yield rose 0.4 bps to 0.365%</li> <li>Euro up 0.08% to $1.1799</li> <li>Italian 10Y yield fell 0.2 bps to 1.57%</li> <li>Spanish 10Y yield fell 0.8 bps to 1.547%</li> <li>Brent Futures down 0.4% to $62.46/bbl</li> <li>Gold spot down 0.03% to $1,292.09</li> <li>U.S. Dollar Index down 0.05% to 93.61</li> </ul> <p><strong>Top Overnight news</strong></p> <ul> <li>German Chancellor Angela Merkel declared failure in her bid to form a new government, throwing the future of Europe’s longest- serving leader into doubt and potentially pointing toward new elections</li> <li>Possibilities now include setting up a minority government headed by her Christian Democratic-led bloc or asking President Frank-Walter Steinmeier to order a national election just months after the last one in September</li> <li>Special Counsel Robert Mueller directed the Justice Department to turn over a broad array of documents, ABC reports; Mueller’s investigators seek emails related to firing of FBI Director James Comey and the decision of Attorney General Jeff Sessions to recuse himself from the entire matter</li> <li>U.S. Treasury Secretary Steven Mnuchin says he doesn’t know whether Congress would extend individual tax cuts that would expire after 2025 in current tax proposal; White House chief economist Kevin Hassett argues that the tax overhaul will boost productivity</li> <li>Chile’s presidential election is heading for a hotly contested second round after billionaire Sebastian Pinera took a smaller-than-expected lead in Sunday’s vote</li> <li>The value of Japan’s exports rose 14% y/y (forecast +15.7%) in Oct.; imports increased 18.9% (forecast +20.2%); the trade surplus was 285.4b yen, less than the forecast of 330 billion yen</li> <li>After nine years, two presidential decisions, multiple lawsuits and<br /> environmental protests, TransCanada Corp. is about to learn whether it<br /> will receive the final state permit needed to build the Keystone XL oil<br /> pipeline</li> <li>The Republican tax-overhaul effort is in for a marathon debate on the Senate floor at the end of this month, with dozens of doomed Democratic amendments. But the real action will be elsewhere, behind closed doors</li> <li>Global investment banking revenues may decline 9 percent this quarter on low volatility and a selloff of high-yield debt, analysts at JPMorgan Chase &amp; Co. said</li> <li>Marvell Technology Group Ltd., a chipmaker looking to build itself a future outside of a declining area of the market, agreed to buy Cavium Inc. for about $6 billion</li> <li>President Robert Mugabe shocked Zimbabwe on Sunday night with a televised address that failed to announce his highly anticipated resignation, a dramatic twist that means the 93-year-old may face immediate impeachment hearings</li> <li>The U.K. could be about to improve its financial offer to the European Union ahead of a crucial meeting of the bloc’s leaders in December</li> <li>HNA CEO Casts Doubts on SkyBridge Deal Completion, WSJ Says</li> <li>Novomet Purchase by Halliburton Said to Be Delayed: Kommersant</li> <li>U.S. Businesswoman Said to Bid for Weinstein Co.: WSJ </li> <li>Some Chrysler Pacifica Owners Complain of Engine Issues: NYT</li> <li>ProSieben Is ‘Obvious’ M&amp;A Target, Possibly for NBC: Liberum</li> <li>Cellcom in Talks With Partner Comm to Deploy Fiber Network</li> <li>Eurocastle Reports NPL Transaction, Reschedules Results Release</li> <li>Goldman CEO Sees Frankfurt, Paris As His Bank’s EU Hubs: Figaro</li> </ul> <p><strong>Asia began the week subdued following the losses on Wall St. </strong>last Friday and with focus on political uncertainty after Trump campaigners were subpoenaed and German coalition talks broke down. ASX 200 (-0.2%) and Nikkei 225 (-0.5%) were in the red although recent strength across commodities helped stem losses in Australia, while Japanese sentiment was dampened by a firmer JPY and a miss on trade data. Hang Seng (+0.3%) and Shanghai Comp. (+0.3%) were initially negative with underperformance in the mainland as Shenzhen stocks resumed Friday’s sell off and amid reports that China tightened asset management rules to curb risky lending. However, prices then recovered heading into the close. Finally, 10yr JGBs were&nbsp; uneventful with prices flat, as demand from the dampened risk appetite in the region was counterbalanced by the absence of a BoJ Rinban announcement. PBoC injected CNY 70bln via 7-day reverse repos, CNY 20bln via 14-day reverse repos and CNY 10bln via 63-day reverse repos.&nbsp; PBoC set CNY mid-point at 6.6271 (Prev. 6.6277). Chinese Property Prices (Oct) Y/Y 5.4% (Prev. 6.3%). Chinese Property Prices rose M/M in 50 out of 70 cities (Prev. 44) and rose Y/Y in 60 out of 70 cities (Prev. 67).&nbsp; Japanese Exports (Oct) Y/Y 14.0% vs. Exp. 15.8% (Prev. 14.1%) Japanese Imports (Oct) Y/Y 18.9% vs. Exp. 20.2% (Prev. 12.0%)</p> <p><em>Top Asian News</em></p> <ul> <li>Soros’ Wang Said to Leave to Start Hedge Fund in Hong Kong</li> <li>Thailand’s Economic Growth Beats Forecasts as Exports Rise</li> <li>Barcelo Makes Offer for NH in Bid to Create Spanish Hotel Giant</li> <li>Zarrab Case Aims to Implicate Turkish Leaders, Erdogan Aide Says</li> <li>Alibaba Bets $2.9 Billion It Can Take on Wal-Mart in China</li> <li>Asia Shares Fall as Investors Lock in Gain Amid U.S. Tax Wrangle</li> <li>Toshiba’s Share Sale Plan Cheers Bond Market as Stocks Fall</li> </ul> <p><strong>European bourses have had a mixed start for the week, with the EuroStoxx 50 relatively flat </strong>amid the collapse of German government coalition talks, while on the corporate front, German Utilities RWE and Innogy are rising over divestiture speculation. Roche are among the best performing stocks this morning after the drugmaker announced a double dose of trial wins. No further political news or fundamental inputs to spark movement, but Bunds are back in the black and it looks like short term or intraday chart levels are impacting. Contacts were flagging 162.82 on the downside and that just held in to keep sellstops intact and the 10 year German bond has subsequently bounced towards 163.00 again. Back to the Government coalition impasse, the President will address the nation at 13.30GMT and could call another election given the failure of talks and Chancellor Merkel to form a new regime, but there is a train of thought that he might make a last ditch effort to get the parties back around the table. Meanwhile, Gilts continue to track moves elsewhere awaiting more concrete Brexit developments and Wednesday’s Budget, ticking back up to 124.65 from a 124.53 low. US Treasuries maintaining a firmer bias, and with the long bond outperforming yet again – so even more flattening.</p> <p><em>Top European News</em></p> <ul> <li>Merkel’s Attempt to Form a New German Government Collapses</li> <li>German Liberals Would Support a Merkel Minority Government: Bild</li> <li>Michael Spencer’s NEX Group Picks Amsterdam as Post- Brexit Base</li> <li>Vestas Shares Fall; Goldman Sees Margin Pressure in 2018</li> <li>Jana Novotna, Former Wimbledon Champion, Dies at 49</li> <li>Akbank’s Rota Is Said to Become Bank Audi’s Turkey Unit CEO</li> </ul> <p><strong>In FX, </strong>the EUR roundtriped as Germany’s FDP walks out of talks to form a 4-party Jamaican coalition after a month of negotiations, citing irretrievable differences. Chancellor Merkel must now inform the President of the situation and the risk is a snap election and failure to secure a 4th term in office. EUR/USD slumped to a 1.1723 base before recovering, with bids touted at 1.1710, while EUR/GBP held key support at 0.8871 (21 DMA) despite filling bids at 0.8875 before rebounding towards 0.8900. GBP: A firmer tone independent of the EUR’s travails on latest reports suggesting material progress in Brexit negotiations in the offing, while UK Chancellor Hammond is apparently encouraging PM May to up her divorce settlement offer to the EU. Cable back up near 1.3250. Benefiting from broad risk-off sentiment, with USD/JPY briefly/marginally below 112.00, but now pivoting the big figure and likely to be eyeing a spread of option expiries in nearby proximity (300 mn at 111.90, 901 mn at 112.00, 2.3 bn at 112.30 and 1 bn from 112.50-60).</p> <p><strong>In commodities,</strong> price action WTI and Brent has been relatively tepid with investors turning their attention to the bi-annual OPEC meeting, in which it is expect that the cartel will extend production cuts to cover the whole of next year. On Friday, the latest Baker Hughes showed that rig counts were unchanged in week to November 17th. WTI slightly off best levels having run into resistance just ahead of USD 57.</p> <p><strong>US Event Calendar</strong></p> <ul> <li>10am: Leading Index, est. 0.7%, prior -0.2%</li> </ul> <p><strong>DB's Jim Reid concludes the overnight wrap</strong></p> <p>The most interesting thing to get your teeth stuck in to this week is likely to be the turkey on Thankgiving on Thursday. As such it'll likely be a quietish week unless we see a renewed bout of the Wednesday to Wednesday sell-off of last week. Things calmed down from the lows during Wednesday's session even if we closed out the week on Friday with a softer session for equities.</p> <p>That said, things have already got to an interesting start as talks to form the next coalition German government have failed after a 12 hour negotiation session ended at around midnight last night, with the pro-market FDP walking out citing large differences with the environmentalist Green party. The head of the FDP Mr Lindner noted “it’s better not to govern than to govern badly”. If no compromise is eventually found, Germany may enter into unchartered territory, potentially involving a new election or even a minority led government. The Euro is&nbsp; down c0.5% this morning.</p> <p>This morning in Asia, markets are trading modestly lower. The Nikkei (-0.45%), Kospi (-0.01%) and Hang Seng (-0.07%) are weaker, while Chinese bourses have pared back bigger losses to be down c0.7% as we type, with the underperformance in part due to Chinese regulators announcing new measures to regulate asset management products from June 2019. The draft measures include: i) an end to short-term investment products with (implicit) guaranteed fixed rates of return and ii) uniform guidance for banks, trust, insurers and brokerages. Elsewhere, over the weekend, Reuters noted Chinese home prices rose in 50 of 70 cities in October (vs. 44 cities previous). The average price rise was stronger for the month at 0.3% mom (vs. 0.2% previous), but annual growth still slowed to 5.4% yoy (vs. 6.3% previous).</p> <p>Back to the days ahead, in this holiday shortened week, the highlights will likely be the EU Foreign and European affairs ministers discussing Brexit today (with a Barnier briefing after), the UK budget on Wednesday (look out for looser fiscal policy), the flash European PMIs on Thursday and the first store sales numbers coming through on 'Black Friday' as we close out the week. These numbers are perhaps less relevant than they used to be as internet shopping increases but it’s always a focal point nonetheless. </p> <p>Turning to US tax reforms, where a step change does not seem likely until the revised tax package goes to a full Senate chamber vote, potentially in the week after Thanksgiving (week from 27th Nov.). Before then, there was more rhetoric over the weekend. Republican Senator Collins said the tax package “needs work” and “want to see changes in that bill”, although she has not reached a conclusion on whether to vote for the current plans or not. One of the issues is the new provision to remove the individual mandate of the Obamacare care, which she noted was a “problem” and that “I don’t think that provision should be in the bill”. In response, Director of the Office of Management and budget Mr Mulvaney noted that the White House is “ok” in removing the mandate if it was an impediment to passing the Senate tax bill, although White House legislative Director Mr Short said “we like the fact that the Senate has included it”. As a reminder, the Republicans need &gt;50 votes to pass the Senate bill and currently control 52 of the 100 seats in the Chamber.</p> <p>Moving onto Brexit, there appears to be more signs that the UK may be willing to concede to an improved Brexit settlement offer to kick start the Brexit talks. The FT has reported that PM May could get cabinet approval today to as much as double her prior settlement offer of EUR$20bln. Elsewhere, Chancellor Hammond noted “we’ve always been clear it won’t be easy to work out that number, but whatever is due, we will pay” and that “we will make our proposals to the EU in time for the council (meeting in c3 weeks). I’m sure about that”. On the other side, the EC President Tusk was firm when he met with PM May last Friday, as he noted “I made it clear to PM May that this progress needs to happen at the beginning of December at the latest” and that “if there is no sufficient progress, I will not be in a position to propose new guidelines on transition (and trade talks)”. Elsewhere, in a preview to the UK budget this week, Chancellor Hammond has noted the government will announce a plan to increase house building by c40% to 300k new homes being built each year.</p> <p>Now quickly recapping market performance on Friday. Ahead of the quieter Thanksgiving week, US bourses weakened. The S&amp;P (-0.26%), Dow (-0.43%) and Nasdaq (-0.15%) all down modestly. Within the S&amp;P, modest gains in the telco and discretionary consumer sectors were more than offset by losses from utilities and tech stocks. European markets also trended lower, with Stoxx 600 (-0.29%), DAX (-0.41%) and FTSE (-0.08%) all down slightly.</p> <p>Over in government bonds, core yields were 1-3bp lower (UST 10y -3.2bp; Bunds -1.6bp; Gilts -1.4bp) while peripherals were little changed. Turning to currencies, the US dollar index weakened 0.29% while Sterling and the Euro gained 0.15% and 0.17% respectively. In commodities, WTI oil rose 2.56% following Saudi Arabia reaffirmed its willingness to extend oil cuts at the November 30 OPEC meeting. Elsewhere, precious metals gained c1% (Gold +1.08%; Silver +1.29%) and other base metals also advanced slightly (Copper +0.13%; Zinc 1.06%; Aluminium flat).</p> <p>Now onto a fascinating story of our times namely Bitcoin. The crypto currency has not only recovered from recent losses, it has now moved to a fresh all-time high of cUS$8,007 a piece this morning. To put this in context, Bitcoin is up c23% over the last week and up 136% since its recent lows back in mid-September.&nbsp; Going back further, it is up c8.4x YTD and up 679x from 5 years ago.</p> <p>Away from the markets now and onto central bankers’ commentaries back on Friday. The ECB’s Draghi noted that “as the labour market tightens and uncertainty falls, the relationship between slack and wage growth should begin reasserting itself. But we have to remain patient.” Elsewhere, the ECB’s Weidmann echoed those sentiments, noting “domestic price pressure will gradually increase in keeping with a path towards our definition of price stability”. </p> <p>Turning to Catalonia, the latest opinion poll by GAD3 suggests voter participation could be a record high of 82% for the upcoming regional election on 21st December but the pro-independence coalition may only win 66-69 of the seats, falling short of a clear majority which requires 68 seats.</p> <p>Staying with polls, the latest Ifop poll suggest France President Macron’s popularity has improved 4ppt to 46% - the highest in four months, in part as Bloomberg noted voters are crediting their President with keeping some of his campaign promises.</p> <p>Before we take a look at today’s calendar, we wrap up with other data releases from Friday. In the US, the November Kansas Fed manufacturing activity was below expectations at 16 (vs. 21), but is still reasonably solid. The Atlanta Fed’s GDPNow model estimate of 4Q GDP growth ended the week at 3.4% (+0.2pps following the strong IP data). The October housing starts were above expectations at 13.7% mom (vs. 5.6% expected), with increases seen in all major regions with the exception of the West. Housing permits were slightly lower at 1,250k (vs. 1,297k expected). Elsewhere, 3Q mortgage delinquencies rose from the post-GFC low in 2Q to 4.88% (vs. 4.24% previous), while foreclosure rate continues to trend down, now to a new post-GFC low of 1.23%.</p> <p>In the Eurozone, the September current account surplus widened to 37.8bln (vs. 33.3bln previous). Elsewhere, Canada’s headline October inflation measure was in line at 0.1% mom and 1.4% yoy, while the core median reading was slightly lower at 1.7% yoy (vs. 1.8% previous).</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="296" height="170" alt="" src="" /> </div> </div> </div> 2s10s 2s10s 2s10s. Aftermath of the United Kingdom European Union membership referendum Angela Merkel ASX 200 Atlanta Fed Australia Bank Audi’s Turkey Unit Bank of Japan Bitcoin Bloomberg Dollar Spot Bond Brexit Business Central Banks China Chrysler Congress Copper DAX 30 Department of Justice European Central Bank European Union European Union European Union Euroscepticism in the United Kingdom EUROSTOXX 50 Eurozone FBI Federal Bureau of Investigation federal government Federal Reserve fixed flash France German government German Lutherans Germany Gilts Government Green Party Hang Seng 40 Housing Starts Janet Yellen Japan Jim Reid JPMorgan Chase Kansas Fed Merkel Minority Government NASDAQ NBC Netherlands New York University Nikkei Nikkei 225 North Korea Obamacare office of Management OPEC Organization of Petroleum-Exporting Countries Precious Metals Price Action Republican Party Reserve Bank of Australia Reuters S&P S&P 500 S&P/ASX 200 Saudi Arabia Senate Shadow Banking Shenzhen SPY Stoxx 600 STOXX Europe 600 Switzerland Theresa May Turkey U.S. Treasury US Dollar Index US Federal Reserve Volatility Volkswagen West Texas White House White House Withdrawal from the European Union Yen Yield Curve Mon, 20 Nov 2017 12:00:09 +0000 Tyler Durden 607572 at Charles Manson Dies; The World's Morbid Fascination Continues <p>Charles Manson, the mass-murderer and leader of the &quot;<a href="">drug-induced flock of followers </a>&quot; known as the Manson family died aged 83 of natural causes at 8.13pm on Sunday night.</p> <p>Although his followers committed the seven &ldquo;Tate-La Bianca&rdquo; murders in the summer of 1969, Manson was convicted of murder for directing them and was sentenced to death in 1971. He was spared when the death penalty was abolished in California following a supreme court ruling in 1972. Footage of Manson and his female followers in the Manson family have surfaced a number of times over the years as their bids to be released were repeatedly rejected at parole hearings. During a parole hearing in 2012, John Peck, a member of the parole panel, <a href="">quoted</a> Manson as saying to one of his prison psychologists.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;I&rsquo;m special. I&rsquo;m not like the average inmate. I have spent my life in prison. I have put five people in the grave. I am a very dangerous man.&rdquo;</p> </blockquote> <p>Following Manson&rsquo;s death, a statement was released by the California Department of Corrections and Rehabilitation which contained the most recent photo.<br />&nbsp;<br /><a href=""><img alt="" src="" style="width: 600px; height: 704px;" /></a></p> <p>From the <a href=",-whose-cult-slayings-horrified-world,-dies">Associated Press</a>.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>In the summer of 1969, a scruffy ex-convict with a magnetic hold on young women sent some of his disciples into the night to carry out a series of gruesome killings in Los Angeles. In so doing, Charles Manson became the leering face of evil on front pages across America and rewrote the history of an era. Manson, the hippie cult leader who died of natural causes Sunday at age 83 after nearly half a century behind bars, orchestrated the slayings of pregnant actress Sharon Tate and six other people, butchered at two homes on successive August nights by intruders who scrawled &ldquo;Pigs&rdquo; and &ldquo;Healter Skelter&rdquo; (sic) in the victims&rsquo; blood. The slaughter horrified the world. To many, the collateral damage included the era of peace, love and flower power. The Manson Family killings, along with the bloodshed later that year during a Rolling Stones concert at California&rsquo;s Altamont Speedway, seemed to expose the violent and drug-riddled underside of the counterculture and sent a shiver of fear through America. <strong>&ldquo;Many people I know in Los Angeles believe that the Sixties ended abruptly on August 9, 1969,&rdquo; author Joan Didion wrote in her 1979 book &ldquo;The White Album.&rdquo;</strong></p> </blockquote> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>Manson was every parent&rsquo;s worst nightmare. <strong>The short, shaggy-haired man with hypnotic eyes was a charismatic figure with a talent for turning middle-class youngsters into mass murderers</strong>. At a former movie ranch outside Los Angeles, he and his devotees &mdash; many of them young runaways who likened him to Jesus Christ &mdash; lived commune-style, using drugs and taking part in orgies. Children from privileged backgrounds ate garbage from supermarket trash. &ldquo;These children that come at you with knives, they are your children. You taught them; I didn&rsquo;t teach them. I just tried to help them stand up,&rdquo; he said in a courtroom soliloquy.</p> </blockquote> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>Fear swept the city after a maid reporting for work ran screaming from the elegant home where Tate lived with her husband, &ldquo;Rosemary&rsquo;s Baby&rdquo; director Roman Polanski. Scattered around the estate were blood-soaked bodies. The beautiful 26-year-old actress, who was 8&frac12; months pregnant, was stabbed and hung from a rafter in her living room. Also killed were Abigail Folger, heiress to a coffee fortune; Polish film director Voityck Frykowksi; Steven Parent, a friend of the estate&rsquo;s caretaker; and celebrity hairdresser Jay Sebring, killed by Manson follower Charles &ldquo;Tex&rdquo; Watson, who announced his arrival by saying: <strong>&ldquo;I am the devil, and I&rsquo;m here to do the devil&rsquo;s work.&rdquo; The next night, wealthy grocer Leno LaBianca and his wife, Rosemary, were stabbed to death in their home in another neighborhood. Manson was arrested three months later.</strong></p> </blockquote> <p>The rationale for Manson&rsquo; murder spree has been much discussed in the intervening 48 years. <strong>The most colourful explanation is that he believed that the lyrics in the Beatles&rsquo; White Album, notably the song &ldquo;Helter Skelter&rdquo;, were directing him to start a race war in America. Helter Skelter is also the name of the best-selling book about the Manson family murders written by his prosecutor, Vincent Bugliosi. </strong>An alternative explanation is that he was angry with society when, unlike the Beatles<strong>, he was denied a recording contract. </strong>Manson&rsquo;s background was undoubtedly a contributing factor as AP continues:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>Manson&rsquo;s childhood was a blueprint for a life of crime. He was born in Cincinnati on Nov. 12, 1934, to a teenager, possibly a prostitute. When he was 5, his mother went to prison for armed robbery. By the time he was 8, he was in reform school. He spent years in and out of penal institutions. &ldquo;My father is the jailhouse. My father is your system,&rdquo; he said in a monologue on the witness stand. &ldquo;I am only what you made me. I am only a reflection of you.&rdquo;</p> </blockquote> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>Manson&rsquo;s chaotic trial in 1970 transformed a courtroom into a theater of the absurd</strong>. He and three female followers, Susan Atkins, Patricia Krenwinkel and Leslie Van Houten, sang and chanted, and Manson at one point launched himself across the counsel table at the judge. Many of his followers camped outside the courthouse, threatening to immolate themselves if he was convicted. When Manson carved an &ldquo;X&Prime; in his forehead, his co-defendants did the same, saying they were &ldquo;Xed out of society.&rdquo; <strong>He later changed his &ldquo;X&Prime; to a swastika. Despite the overwhelming evidence, he maintained his innocence. &ldquo;I have killed no one, and I have ordered no one to be killed,&rdquo; Manson said.</strong></p> </blockquote> <p>Manson&rsquo;s wild-eyed stare and the brutality of the murders have sustained a morbid fascination for people in the US and around the world. This is from the <a href="">New York Times</a>.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>The Tate-LaBianca killings and the seven-month trial that followed were the subjects of fevered news coverage. <strong>To a frightened, mesmerized public, the murders, with their undercurrents of sex, drugs, rock &rsquo;n&rsquo; roll and Satanism, seemed the depraved logical extension of the anti-establishment, do-your-own-thing ethos that helped define the &rsquo;60s</strong>. Since then, the Manson family has occupied a dark, persistent place in American culture &mdash; and American commerce<strong>. It has inspired, among other things, pop songs, an opera, films, a host of internet fan sites, T-shirts, children&rsquo;s wear and half the stage name of the rock musician Marilyn Manson.</strong></p> </blockquote> <p>This is AP&rsquo;s take on the same issue.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;<strong>The Manson case, to this day, remains one of the most chilling in crime history</strong>,&rdquo; prominent criminal justice reporter Theo Wilson wrote in her 1998 memoir, &ldquo;Headline Justice: Inside the Courtroom &mdash; The Country&rsquo;s Most Controversial Trials.&rdquo;</p> <p>&nbsp;</p> <p>&ldquo;Even people who were not yet born when the murders took place,&rdquo; Wilson wrote, &ldquo;know the name Charles Manson, and shudder.&rdquo;</p> </blockquote> <p><a href=""><img alt="" src="" style="width: 600px; height: 538px;" /></a></p> <p>We suspect that now he&rsquo;s dead, the fascination with Charles Manson and the &ldquo;Tate-La Bianca&rdquo; killings is not going to diminish, far from it. <strong>At its heart, people still want an answer to the question &ldquo;why?&rdquo;. </strong></p> <p>The New York Times summed it up this way: &quot;Throughout the decades since, Mr. Manson has remained an enigma. Was he a paranoid schizophrenic, as some observers have suggested? Was he a sociopath, devoid of human feeling? Was he a charismatic guru, as his followers once believed and his fans seemingly still do? Or was he simply flotsam, a man whose life, The New York Times wrote in 1970, &ldquo;stands as a monument to parental neglect and the failure of the public correctional system.&quot;</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="751" height="436" alt="" src="" /> </div> </div> </div> Apocalypticism California Department of Corrections and Rehabilitation Charles Manson Eat Me, Drink Me Eschatology Helter Skelter Leslie Van Houten Manson Family Marilyn Manson New York Times Patricia Krenwinkel Religion Susan Atkins Vincent Bugliosi Mon, 20 Nov 2017 10:44:20 +0000 Tyler Durden 607569 at In Dramatic Rebound, Euro, DAX Recover All Losses; "Is Strong Government Overrated?" SocGen Asks <p>Having tumbled 80 pips to a one week low in kneejerk <a href="">response to the late Sunday news </a>that Angela Merkel had failed to form a government following the collapse of the "Jamaica Coalition" talks - when the Free Democratic Party walked out, saying the differences with the Green party were too great to bridge - both the Euro and European stocks have staged an impressive rebound, and the entire gap lower in the FX pair has now been, well, pared.</p> <p><a href=""><img src="" width="500" height="232" /></a></p> <p>Alongside the rebound in the EURSD, the German DAX, which earlier fell as much as 0.5% at the open (and whose futures at one point overnight looked set for a 1% drop), trims early losses and briefly even turns positive, on what some have speculated was another round of central bank intervention. </p> <p>As Bloomberg notes, while analysts contemplated possible scenarios of Merkel setting up a minority government headed by her Christian Democratic-led bloc or asking President Frank-Walter Steinmeier to order a fresh national election, <strong>"leveraged and interbank names were quick to fade the euro’s dip that stretched as much as 0.6% to 1.1722.</strong>"</p> <p>In other words, the CTA momentum chasers came, saw, and BTFD. </p> <p>As a result, the euro briefly moved above 1.1800 to touch day high of 1.1812 as short- term names were stopped on the move above 1.1780, traders in London and Europe told Bloomberg. Meanwhile, BBG adds, option gauges - volatility term structure, smile, butterflies - pointed to a non-lasting effect of the German news, with market focus turning to speeches by ECB policy makers including Draghi, Constancio and Nowotny. </p> <p>And while every analyst - who had previously been wrong about the direction in the EURUSD over 2017, had hot takes to explain why Germany is fine even if Merkel is forced to hold a new government elections, something that has never happened before - the common response boiled down to one argument: the German economy us strong enough to offset political uncertainty after government talks collapse.</p> <p>In other words, when you have a <a href="">central bank monetizing more than 100% of all net issuance</a>, who needs a government. While rhetorical, this question is quite relevant, and none other than SocGen's FX strategist Kit Juckes asked it this morning, in a slightly different version when he wondered if one even needs a government in the "new normal." Below we excerpt from his note:</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p><strong>Is strong and stable government over-rated?&nbsp; </strong></p> <p>&nbsp;</p> <p>After the collapse of German collation negotiations, the euro is 0.1% lower against the dollar, and 0.4% lower against this morning's best currency, the Kiwi. <strong>That is not a dramatic reaction, but it is consistent with insouciance in European bond markets, where neither swap spreads nor peripheral yield spreads have reacted significantly yet</strong>. A break higher in EUR/USD may still require the large net long position in CFTC data to shrink, and the trend in relative yields to start moving back in the euro's favour. It might just be that a political vacuum is no worse for Germany and the euro than it has been for, say, the Netherlands or Belgium. After all, the current UK Government's slogan is ‘strong and stable'.... </p> <p>&nbsp;</p> <p>There are, I suppose, four plausible outcomes in Germany: </p> <p>&nbsp;</p> <p>The first is that the Jamaica coalition is revived, which seems unlikely. </p> <p>&nbsp;</p> <p>The second is that the CDU/SPD coalition is revived but that seemed to be what the electorate were unhappy with at the election. </p> <p>&nbsp;</p> <p>The other two, fresh elections or the CDU ruling as a minority government, are untried in the modern era. </p> <p>&nbsp;</p> <p><strong>The only real enthusiasts for new elections are the AFD, who might build on their strong showing last time around. </strong></p> <p>&nbsp;</p> <p>Maybe <span style="text-decoration: underline;"><strong>what markets are saying overall is that minority&nbsp; government or further coalition talks are fine, as long as the economy is growing. </strong></span>As for the FX conclusion, the EUR/USD 1.1480-1.1880 range is holding. If we can get positioning right and relative yield trends moving in the euro's favour, we can break higher. </p> <p>&nbsp;</p> <p><img src="" width="500" height="184" /></p> </blockquote> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="613" height="284" alt="" src="" /> </div> </div> </div> Angela Merkel Belgium Bond Chancellors of Germany Christian Democratic Union of Germany Coalition government DAX 30 Economy of the European Union Euro European Central Bank European Parliament European Union Eurozone Frank-Walter Steinmeier Free Democratic Party Free Democratic Party German Lutherans Germany Government Green Party Jamaica Coalition Netherlands New Normal None Politics SocGen UK Government Volatility Mon, 20 Nov 2017 10:29:51 +0000 Tyler Durden 607570 at Russia's Arms Sales To Middle East Countries Spike To Record-High Levels <p><em><a href="">Authored by Andrei Akulov via The Strategic Culture Foundation,</a></em></p> <p><strong>Dubai Airshow 2017, one of the largest and most successful air shows in the world, ended on Nov.16, having drawn over 79,000 trade visitors, up around 20% over the last version of the event in 2015. </strong>The total order tally is $113.8 billion in orders. It nearly tripled from the $37.2 billion signed two years ago.</p> <p><a href=""><img alt="" src="" style="width: 600px; height: 320px;" /></a></p> <p><strong>Russia&rsquo;s exposition at the Dubai Airshow 2017 included</strong> the combat helicopter Ka-52, multi-mission fighter MiG-29M, Su-35 supermaneuverable air defense fighter, Be-200 multipurpose amphibious aircraft, combat-transport helicopter Mi-35M, long-range air defense system S-400 Triumph, and short-range air defense missile system Pantsir&ndash;S1. The &#39;Russian Knights&#39; aerobatic demonstration team performed extraordinary stunts riding through the skies to greatly impress spectators.</p> <p><strong>The United Arab Emirates (UAE) is interested in procuring the Sukhoi Su-35 multi-role fighter. </strong>The country is considering the purchase of 10 or more of such aircraft. The UAE and Russia signed a letter of intent on the purchase of&nbsp;<a href="" target="_blank">Su-35 fighter jets</a>&nbsp;in Feb. 2017. The talks are in progress. The Emirates will be the second country after China to buy the plane.</p> <p>The <strong>UAE has already purchased Russian ground weapons, </strong>such as BMP-3 infantry combat vehicles and Pantsir S1 air-defense systems. In February, the Emirates entered into military contracts with Russia worth $1.9 billion. The deal includes 5,000 anti-armor missiles in addition to training and logistic support. The UAE started talks with Rostec company on the development of light fighter based on the MiG-29 twin-engine aircraft with development set to kick off in 2018.</p> <p>The military cooperation with the UAE is a good example to illustrate the increasingly growing demand for Russian weapons in the Middle East. <strong>Orders from&nbsp;Arab countries&nbsp;<a href="" target="_blank">account for</a>&nbsp;roughly 20 percent of&nbsp;Russian weapons&#39; exports. </strong>Last year, Russia delivered more than $1.5 billion in arms to Algeria, $37 million to Egypt, $374 million to Iran and $300 million to Iraq. Today, the Russia&#39;s portfolio of&nbsp;weaponry orders from&nbsp;the countries of&nbsp;the region is $8 billion. In 2017, the Russian defence industry has been making major inroads in the Middle East and North Africa. Bahrain, Egypt, Morocco, Saudi Arabia, the United Arab Emirates and Tunisia are interested in&nbsp;purchasing Russian weapon systems.</p> <p><strong>This year, Moscow started delivery of 50 MiG-29 fighter aircraft to Egypt</strong>.</p> <p>Cairo is to start receiving 46 Ka-50 combat helicopters. It was reported in September that Algeria is going to buy over 300&nbsp;Russian-made BMPT-72 Terminator-2 tank support combat vehicles (TSCV) in order to support&nbsp;T-90SA main battle tanks bought from Russia earlier. Now, the Algerian military uses technical vehicles equipped with Kornet ATGM launchers and ZSU Shilka&nbsp;self-propelled, radar guided anti-aircraft weapon systems.</p> <p><strong>In early October, Russia had signed a number of&nbsp;landmark arms contracts with&nbsp;Riyadh, following&nbsp;President Vladimir Putin&#39;s talks with&nbsp;Saudi King Salman bin Abdulaziz Al Saud.</strong></p> <p>The deal includes the&nbsp;<a href="" target="_blank">S-400 anti-aircraft missile system</a>, as&nbsp;well as&nbsp;Kornet-EM anti-tank missile systems, TOS-1A &quot;Buratino&quot; heavy flame systems, AGS-30 grenade launchers and Kalashnikov AK-103 assault rifles. The parties agreed to organize the licensed production of&nbsp;Kalashnikov AK-103 assault rifles and ammunition in&nbsp;Saudi Arabia.</p> <p>On September 12, <strong>Moscow and Ankara reached an&nbsp;<a href="" target="_blank">agreement on&nbsp;the delivery of&nbsp;S-400</a>&nbsp;systems to&nbsp;Turkey,</strong> a NATO member. Czech Gen. Petr Pavel, the chairman of NATO&#39;s Military Committee, recently&nbsp;<a href="" target="_blank">said</a>&nbsp;that Turkey&#39;s purchase of the S-400 may bar it from any integrated air-defense system with NATO allies but Ankara stands tall, refusing to succumb to pressure.</p> <p>The already agreed on sales of S-400 air defense system to Saudi Arabia and Turkey are groundbreaking deals. The system appears to be in great demand internationally, including India, not a Middle East country but a very important customer. No way would Russia miss out on its slice of air defense systems&rsquo; market share.</p> <p><strong>Bahrain and Russia&nbsp;<a href="" target="_blank">are also in&nbsp;talks</a>&nbsp;on&nbsp;the purchase of S-400.</strong></p> <p>Further arms deals will be discussed during the talks with Bahraini Prince Nasser bin Hamad Al Khalifa, commander of&nbsp;the country&#39;s Royal Guard, who is expected to visit Russia soon.</p> <p><strong>Morocco&nbsp;<a href="" target="_blank">is standing in line</a>&nbsp;to acquire the S-400. </strong></p> <p>Rabat and Moscow are in talks on the Sukhoi Su-34 tactical bomber and Amur-1650 diesel-electric submarine deal.</p> <p><strong>Last month, Russia and Qatar&nbsp;<a href="" target="_blank">signed</a>&nbsp;a memorandum-of-understanding (MoU)</strong> calling for increased military and technical cooperation.</p> <p>Doha has recently expressed interest in purchasing the S-400 missile defence system.</p> <p><strong>It&rsquo;s not S-400 only. Russian weapons, especially aircraft and air defense systems, have proven to be a cost effective alternative to much more expensive Western systems. </strong>They are reliable and have better characteristics. The military campaign in Syria demonstrated they could be used to alter the course of a high-stakes conflict. With Syria having become a department store window displaying the latest in Russian weapons systems offered for sale to other countries, Moscow is significantly expanding its arms sales to the Persian Gulf states with their leaders going with greater regularity to Moscow.</p> <p><strong>All in all, the spike in Middle East arms sales is a success story for Russia&rsquo;s defense industry. </strong>A big exporter of natural resources, Russia also exports high-tech products with many countries in line to purchase them.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="622" height="332" alt="" src="" /> </div> </div> </div> Aircraft Aviation BMP BMP-3 infantry Canard aircraft China Czech Defense industry of Russia Dubai Dubai Airshow East Africa India Iran Iraq Iraqi Air Force Kalashnikov Market Share Middle East Middle East MiG-29 Mikoyan MiG-29 Mikoyan MiG-29M NATO's Military Committee North Africa North Atlantic Treaty Organization Pantsir-S1 Persian Gulf Politics S-400 missile system Saudi Arabia Strategic Culture Foundation Su-35 Sukhoi Su-35 Sukhoi Su-57 Turkey Vladimir Putin War Mon, 20 Nov 2017 10:00:00 +0000 Tyler Durden 607566 at Meanwhile In Sweden, Crime Hits All Time Highs <p>It appears<strong> President Trump,</strong> having warned that Sweden&#39;s huge intake of refugees would lead to <em>&quot;problems like they never thought possible,&quot;</em> has been <strong>vindicated</strong>.</p> <p><a href=""><img height="327" src="" width="600" /></a></p> <p>Following<strong> media mockery</strong> and Sweden&#39;s official Twitter account responding:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;Hey Don, this is @Sweden speaking! It&rsquo;s nice of you to care, really, but don&rsquo;t fall for the hype. Facts: We&rsquo;re OK!&rdquo;</p> </blockquote> <p><a href="">Trump reacted by tweeting</a>...</p> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">Give the public a break - The FAKE NEWS media is trying to say that large scale immigration in Sweden is working out just beautifully. NOT!</p> <p>&mdash; Donald J. Trump (@realDonaldTrump) <a href="">February 20, 2017</a></p></blockquote> <script src=""></script><p><strong>And now nine months later, Trump&#39;s worst fears - and the lies of Swedish authorities - have been confirmed</strong>.</p> <p><a href=""><img height="303" src="" width="600" /></a></p> <p><a href="">Bloomberg reports that</a> <strong>the number of Swedes who were victims of crimes such as fraud and sexual offenses jumped to the highest level on record last year</strong>.</p> <p><a href="">A&nbsp;survey&nbsp;by the Swedish National Council for Crime Prevention </a>showed that 15.6 percent of people suffered one or more offences against the person (defined in the survey as assault, threats, sexual offences, robbery, fraud or harassment) last year. That&rsquo;s up from 13.3 percent in 2015 and the <strong>highest number recorded since the&nbsp;annual Swedish Crime Survey started in 2006.</strong></p> <p><a href=""><img alt="" src="" style="width: 600px; height: 300px;" /></a></p> <p><strong>The number of offences against individuals &ldquo;was at a relatively stable level 2005 to 2014, at 11.3 percent to 13.1 percent, but the last two years show an increase,&rdquo;</strong> the council said in the report published this week.</p> <p>Now... what changed in the last two years in Europe? ...</p> <p><a href=""><img alt="" src="" style="width: 600px; height: 424px;" /></a></p> <p>The c<strong>rimes &ldquo;that have had the clearest development in the past few years are harassment, fraud and sexual offences,&rdquo;</strong> the agency said.</p> <p>Of the six types of offences against the person, five of six rose to their highest level on record last year. The number of assault cases reached its second-highest level.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;Young women aged between 16 and 24 is the group that&rsquo;s most subject to sexual offences, with 14 percent of young women stating that they were victims of at least one such crime during 2016,&rdquo;</strong> the council said.</p> <p>&nbsp;</p> <p>&ldquo;Among men in the same age group, 1.2 percent said they had been victims.&rdquo;</p> </blockquote> <p>And on the heels of that; buoyed by the stunning success of the <a href="">It&rsquo;s Ok To Be White</a>&nbsp;campaign,<a href=""> Squawker reports</a> that 4chan&#39;s infamous politically incorrect board has now seemingly moved on to their next example of expert level political trolling... taking aim at modern Sweden.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><u><strong>Operation Swedistan </strong></u>as users have taken to calling it,<a href="">&nbsp;follows the usual 4chan strategy</a>&nbsp;of attempting to <strong>trick extremist liberals into siding with a progressive cause that&nbsp;would seem ridiculous or even outright appalling to the average person.</strong></p> <p>&nbsp;</p> <p>In this case the goal is simple, <strong>convince Sweden to change its flag design. </strong>More specifically, to remove the Christian cross and install an Islamic crescent in its place.</p> <p>&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 600px; height: 332px;" /></a></p> <p>&nbsp;</p> <p><strong>To be clear, no one involved expects or or wants this to actually happen obviously.</strong> But if even one actual Swedish official is perceived to, for even for a moment actually consider implementing such a change. The hope is that will be enough to upset what the operations organizers refer to as the &ldquo;left-leaning normie&rdquo; masses.</p> <p>&nbsp;</p> <p>A full rundown of the basic strategy can be seen here below.</p> <p>&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 600px; height: 114px;" /></a></p> </blockquote> <p>A formal mass petition to the Swedish Prime Minister has also been launched sitting at over 2,300 signatures in less than 24 hours time already. Among other things it states the following.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;<strong>The Swedish flag is a constant reminder of our dark and oppressive past.</strong> Refugees and migrants are forced to live under its Christian Cross; a symbol of the Crusades and the slaughter of millions of innocent Islamic lives in Sweden&rsquo;s past that makes them feel unwelcome and unsafe.</p> <p>&nbsp;</p> <p><strong>Sweden should be a safe space for everyone. As our outdated national symbol gradually becomes the banner of Xenophobic and racist extremist groups, we must think into the future. </strong>A future of peace, understanding and tolerance.&rdquo;</p> </blockquote> <p>We leave you with Sweden&#39;s new ambassador to Iceland&#39;s recent comments that sparked a major controversy after he warned that <strong>Sweden is &quot;in the process of dismantling democracy&quot; </strong>and could be on a <strong>slippery slope towards technocracy or a dictatorship.</strong></p> <p><a href=""><img height="304" src="" width="600" /></a></p> <p>Håkan Juholt, a former leader of the centre-left Social Democrat party and <strong>ambassador to Iceland since September, </strong>made the comments in an interview with the&nbsp;<a href="" target="_blank">Svenska Dagbladet </a>newspaper.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><em><strong>&quot;How old is your son? Four?&quot; </strong></em>he asks the reporter.</p> <p>&nbsp;</p> <p><em><span style="text-decoration: underline;"><strong>&quot;When he is old he won&#39;t be living in a democracy but in a technocracy, or a dictatorship. It&#39;s sad as hell. I am sorry to say it, but I am 100 percent sure. We are in the process of dismantling democracy.&quot;</strong></span></em></p> </blockquote> <p>Later in the interview, he says:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;I don&#39;t think the threat is a dictatorship with tanks rolling on Sergel&#39;s Square (a well-known square in central Stockholm), but an expert rule where we do not let the citizens&#39; values govern the country.</strong> Democracy is slipping through our fingers. Fewer people want to be elected, the parties are toning down their ideology.</p> <p>&nbsp;</p> <p><strong>Sure, I see a risk that it may become a dictatorship in the long run.&quot;</strong></p> </blockquote> <p>His brutal honesty in a diplomatic role appears to have ruffled more than a few feathers... much like President Trump&#39;s.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1100" height="600" alt="" src="" /> </div> </div> </div> Business Donald Trump Donald Trump on social media Economy of the United States Iceland Newspaper Social Democrat party Social Issues Sweden Swedish National Council for Crime Prevention Twitter Twitter United States Mon, 20 Nov 2017 09:15:00 +0000 Tyler Durden 607565 at "Worst Case Scenario" Looms As Merkel's "Jamaica Coalition" Collapses <p>We <a href="">warned on Friday </a>that German Chancellor Angela Merkel faced a &#39;night of the long knives&#39; in her efforts to bring together the co-called &#39;Jamaica&#39; coalition of four parties and after a desperate weekend of talks, Bloomberg reports<strong> Merkel&#39;s efforts at forming a coalition have failed meaning a second election looms and sending the euro sliding</strong>.</p> <p><img height="326" src="" width="600" /></p> <p>As Bloomberg reports, talks on forming German Chancellor&nbsp;Angela Merkel&rsquo;s next government collapsed, <strong>throwing the future of Europe&rsquo;s longest-serving leader into doubt and potentially pointing the world&rsquo;s fourth-biggest economy toward new elections.</strong></p> <p><strong>After a 12-hour negotiating session that ended shortly before midnight Sunday,</strong> the Free Democratic Party walked out of the exploratory talks, saying the differences with the Green party were too great to bridge.</p> <p>Merkel has sought for four weeks to enlist the two smaller parties for her fourth-term coalition.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><em><strong>&ldquo;It&rsquo;s better not to govern than to govern badly,&rdquo;</strong></em> FDP head Christian Lindner told reporters in Berlin.</p> </blockquote> <p>No further coalition talks were scheduled, he said. There was no immediate comment from Merkel.</p> <p>EURUSD is down aroound 80 pips on the news...</p> <p><a href=""><img alt="" src="" style="width: 600px; height: 315px;" /></a></p> <p><a href="">As MINT Partners&#39; Bill Blain noted previously,</a> <strong>Germans are not used to multiple elections &ndash; and a second vote early next year would be massive negative for Merkel herself</strong> &ndash; she may even have to stand down if coalition looks like falling. That could be massive shock.</p> <p>As a result, the prospects for more volatile European peripheral markets, particularly Greece and Italy, are likely to be exacerbated,&nbsp;and<strong> we might well see some of the currency and European stock market froth blow away in coming days as the scale of the &ldquo;German Problem&rdquo; becomes clearer.</strong></p> <ul> <li><strong>My&nbsp;worst case Germany scenario is a second election early next year,&nbsp;political uncertainty as Mutti Merkel finds herself squeezed out,&nbsp;</strong>and a scramble to build a new coalition government in her aftermath.</li> <li>The best case scenario isn&rsquo;t much better: that Merkel manages to forge a new coalition,&nbsp;<strong>but it will be a long drawn out affair and the resulting administration will be vulnerable, weak and fraxious.</strong></li> </ul> <p>These sound like German problems, but&nbsp;<strong>they mean the &ldquo;leader of Europe&rdquo; is likely to be entirely inward focused in coming months/years.. at a time when the European union will be facing a host of new issues regarding closer union, banking union and reform of the ESM, bailout and QE policies</strong>. There will also be new potential crisis points &ndash; Italian elections next year, Greece bailout, renewed immigration crisis or a blow-up with Trump. And these are just the known unknowns.</p> <p><strong>This has profound implications for the so-called French/German axis as it slides towards Paris. </strong>We are not going to see a new German government &ldquo;waste time&rdquo; on issues like closer EU union, European Banking Union, or critical finance issues like reforming ESM or new approaches on QE and Bailout funds. Forget Wiedemann for ECB president, it&rsquo;s more likely to another Frenchman (Trichet II) &ndash; I&rsquo;m sure its already underway. In short.. Germany negotiations could get very fraxious while Europe is dragged down in its wake. I doubt the markets have discounted it yet.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="486" height="264" alt="" src="" /> </div> </div> </div> Angela Merkel European Banking Union European Central Bank European Union European Union Free Democratic Party German government German Lutherans Germany Germany Government Greece Green Party Italy Merkel Politics Politics of Germany Trichet Mon, 20 Nov 2017 09:00:29 +0000 Tyler Durden 607563 at FX Weekly Preview: EUR Darts Back To Uptrend, But Can It Last <p><em>Submitted by Shant Movsesian and Rajan Dhall MSTA of <a href=""></a></em></p> <p>The key move in the FX majors last week as the upturn in EUR/USD, where the first key area of support on the downside at 1.1500-1.1625 held well to generate the move up into the mid-upper 1.1800&#39;s.&nbsp; In the previous week we also asked whether the USD correction was over, and some may assume that based on the key weighting in the USD index - it is.&nbsp; Clearly the longer term outlook on Europe has been the driver of what is now seen as a default position in FX.&nbsp; The German economy has been leading the way with solid growth, as Q3 saw a rise of 0.8%, which should be confirmed on Thursday.&nbsp; Alongside this, we get the PMI data for Nov which will likely confirm more of the same across the whole Euro region, with the German IFO on Friday unlikely to buck the positive trend as the institute maintain their positive growth projections.&nbsp;&nbsp;</p> <p>Over the weekend however, the coalition talks in Germany have made the headlines with the FDP leader walking out of the negotiations with Chancellor Merkel&#39;s CDU and the Greens, with wide &#39;differences&#39; of opinion on immigration and climate amongst other issues lower down the pecking order.&nbsp; <strong>This leaves Merkel with 3 options; a new election, governing without a majority or continuing talks for an eventual agreement - all 3 to keep the EUR from maintaining the upside bias with clear conviction. That said, we are in a market which is getting used to brushing aside key risk factors, and the early Asian response is usually tempered to some degree by the more liquid London markets - as we saw with GBP the previous weekend!</strong></p> <p>For the ECB, it is clearly not all about Germany, as the governing council needs to &#39;accommodate&#39; for all the EU 27 and therein lies the headwinds for the EUR.&nbsp; Buba&#39;s Weidmann clearly wants to call time on the APP - albeit at a future date - and according to source reports, Messrs Lautenschlager and Villeroy are of the same view, having challenged the commitment to QE.&nbsp; On the other side of the equation, president Draghi leads the less hawkish camp in maintaining the open-end position on QE, if only to fend off a taper tantrum and another EUR ramp back above 1.2000.&nbsp; Central bank divisions are nothing new - we have seen this developing at the Fed and the BoE - and in maintaining the status quo or a near term stalemate, the EUR upside will be contained for now, but with a clear upside bias.&nbsp;&nbsp;</p> <p>Technically, 1.1880-1.1900 is where we need to breach to underpin the tentative support in place, so focus on this area will draw in sellers in the meantime and keep a USD recovery of sorts on the table.&nbsp;&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 252px;" /></a></p> <p>In the US, for all the promise of tax reform, which has many hurdles to overcome, the overall contribution to growth is still in question, with the ratings agencies joining in on some of the calls for this to be on the modest side at best.&nbsp; Given the continued series of collapses in getting reform through, the market may well have priced this in - or out - with apathy here just another reason to keep the stock market grinding higher, but we are seeing mixed performance in the carry trade.&nbsp;&nbsp;</p> <p>USD/JPY is now looking heavier, and even after breaking above 114.50 a few weeks back, it was a quick return to the range, which now sees the lower end under threat.&nbsp; 111.50 is the limit to watch on the downside, and with JPY shorts still increasing, positioning is the biggest threat for this pair, with the cross rates now also faltering.&nbsp; For the USD, as long as the US 10yr Note can hold above 2.30%, then we are likely to hold off an all out collapse at this stage, and we are sure to hear from the BoJ if we do, with their uber easy policy reiterated at every chance.&nbsp;</p> <p>Data out of the states next week is all stacked up over Tuesday and Wednesday as we have Thanksgiving holidays over Thursday and for most - Friday also, with Wednesday&#39;s schedule covering durable goods and Michigan sentiment before we get the FOMC minutes later in the day.&nbsp; We really cannot get much more out of Fed communication other than a Dec hike is likely with 3 more hikes expected over 2018, and the latest inflation data which saw the core rate ticking up to 1.8% will not be covered until next month&#39;s meeting.&nbsp;&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 252px;" /></a></p> <p>More promises on the Brexit talks proving constructive and that progress is coming, but little evidence.&nbsp; All the while, GBP is still trying to push higher, with last week&#39;s UK data showing resilience in the economy for now - but that is for now. There is little doubt that the air of uncertainty is holding back investment, and while the loss of business out of London will not mean an all out collapse of the UK economy, we have to anticipate negative forces on growth down the line.&nbsp;</p> <p>Over the weekend, Chancellor Hammond stated that the public deficit is to fall &#39;at last&#39;, but with London contributing a large chunk of revenue to the Treasury, this will be seen as temporary as yet.&nbsp; He also believes the Brexit talks are on the brink of a turning point, but along with minister Davis, the government will continue to look up developments in a positive light - though all agree that a no deal is still a possibility.&nbsp; The deadline for commitment on the divorce bill is also getting closer, and all hopes for a transitional deal and trade talks depend on this no matter how &#39;positive&#39; UK beliefs are.&nbsp; The latest PSNB data is out on Tuesday, but all eyes on Q3 GDP on Thursday as well as business investment.&nbsp;&nbsp;</p> <p>As such, those looking to push GBP higher from current levels will have to expect a bumpy ride, and if the USD does come back for another bout of strength over the near term, then a return to 1.3000 cannot be ruled out.&nbsp; Under-valuation kicks in when or if we push below here, but under the circumstances, we continue to stick with the 1.2500-1.3500 range scenario until we can see something breaking either side of this.&nbsp;&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 252px;" /></a></p> <p>EUR/GBP is similarly tight, but as above, if EUR/USD resumes the longer term quest for 1.2000 and beyond, it will likely drag the GBP rate kicking and screaming, but for now 0.9025-50 caps.&nbsp;&nbsp;</p> <p>Getting limited air time last week was the progress on the talks on NAFTA, and naturally there is little progress to report on as the US pursue efforts to reduce their trade deficit.&nbsp; Hopes of some basis of agreement by the end of year are all but dead, with the deadline here at end March 2018.&nbsp; &nbsp;Canada&#39;s minister of foreign affairs Freeland has been pretty candid throughout, expecting a challenging process, but overall, talks have proceeded with civility, so CAD weakness of late is all down to the anticipated BoC rate path.&nbsp; Aggressive tightening expectations have been successfully tamed by the central bank, and while there may be a little more receding in the longer end of the yield curve, the longer term outlook here should contain CAD sales to a larger degree.&nbsp;&nbsp;</p> <p>As we have seen in recent week&#39;s, 1.2900-1.3000 has been a strong area to contend with, but even if we push past this, the likelihood of a return to 1.3500 looks remote at best, just as 1.2000 does on the downside. Data watchers will only have the Sep retail sales numbers to look to next Thursday, but with Oil prices at higher levels, we expect to see margins improving the GDP input further down the line.&nbsp;&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 252px;" /></a></p> <p>This should also be taken into account when watching the demise of the AUD in recent weeks and months.&nbsp; Throughout the downturn which saw the USD rate dip under 0.7550, industrial metals have held up well, and with mining investment and activity bottoming out at the very least, then we should see positive drivers on growth feeding through.&nbsp; For now however, the market is obsessing over wage growth and inflation, and with job gains less than expected, the short termists have maintained the pressure on AUD, and the dip in US equities also hitting the higher yielders vs the JPY.</p> <p>We see key weekly trend line support on AUD/USD cutting in around 0.7500, and this will attract some decent buying interest, if not temporarily then at least when we get a clearer picture on the USD going forward.&nbsp; Even in that instance, we may see some resilience here and in the NZD/USD, which saw renewed pressure also last week, breaking below the previous 0.6815-20 support to see the Antipodeans moving in tandem.&nbsp;&nbsp;</p> <p>In Australia we get the RBA minutes on Monday night, with gov Lowe speaking again on Tuesday - Q3 construction work done is on Wednesday night and gets some attention due to the GDP input.&nbsp; Retail sales on Wednesday and trade stats on Thursday for NZ, with upside surprises for the former likely after the strong job gains seen in Q3.&nbsp;&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 252px;" /></a></p> <p>For the Scandies, it is now the 18th week that we have seen NOK/SEK holding inside 1.0100-1.0360, with both currencies losing out against the EUR and the USD.&nbsp; The Riksbank will not be complaining, while the Norges bank is a little more relaxed on the exchange rate, focusing on removing oil and gas stocks from the benchmark index on their Sovereign Wealth fund, which has now hit the $1trln mark.&nbsp;</p> <p><a href=""><img alt="" src="" style="width: 500px; height: 252px;" /></a></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1422" height="717" alt="" src="" /> </div> </div> </div> Australia Bank of Japan BOE BoE Business CAD Carry Trade Currency pair default Economy of the United Kingdom European Central Bank European Union federal government Foreign exchange market Germany headlines Michigan Norges Bank Norges Bank ratings Ratings Agencies recovery Reserve Bank of Australia Trade Deficit Yield Curve Mon, 20 Nov 2017 08:51:18 +0000 Tyler Durden 607568 at On The West's Demise To The Sidelines Of History... <p lang="en-US"><a href=""><em>Authored by Seth Lievense via,</em></a></p> <p lang="en-US"><strong>The world is changing, but the west is clinging on to a unipolar vision of the world that has passed.</strong> It&rsquo;s attempts to discard this changing reality in exchange for a western worldview expressed in their politics and media are so ungrounded, it&rsquo;s comical as it is dangerous. This western bubble of reality laid down before the wests general public seems to hold up for now, although fragile and less and less by the day. Really, Russia again? Outside this western bubble however, credibility is lost daily as the west places itself on the sidelines of history.</p> <p lang="en-US">The fundamental building blocs in western hard power and soft power are not under attack as the mediapolitical landscape could make us feel they are, it is more that they are revealed for what they are without the sugarcoating. <strong>As the multipolar world creates the political and economic power to pursuit alternatives and show new perspectives and interpretations, they now have the power to reflect the actions of the west mirrored back upon themselves as apposed to &lsquo;just the way things are&rsquo; in the world.</strong></p> <p lang="en-US">Suddenly we are presented with another version of reality that also begs for a different version of history for the past decades. Our economic system seems to benefit the few as those few have a well managed grip on politics. Local business and craftsmanship, the real economy, have given way to the privileged multinationals and the financial world, the world of tax breaks and tax havens.</p> <p lang="en-US"><strong>Whilst the real economy is breaking down, the central banks were printing money like never before to keep the banks and the familiar names afloat -so long as the Apple&rsquo;s and Facebook&rsquo;s and other household names keep the indices up, all is good. </strong>At the root of this infinite printing of money lies of course the petrodollar. The 1973 deal with Saudi-Arabia where the US would support the house of Saud so long as OPEC would sell all oil in US dollars only and buy US bonds, creating an immense need for dollars in the world and preventing inflation as the Federal Reserves printing presses make way for the economic, political and military US might since. Since, the whole international trade system has been dollar based. If Bolivia wants to sell logs to Venezuela, it will still use dollars. And by US law, every dollar has to be cleared by the bank of New York, thus making this transaction subject to US law. And don&rsquo;t you dare circumvent it. Blocking Iran from the dollar-trade for not selling oil in dollars, and thus blocking it from the swift-system, and thus from world trade, was therefore the nuclear bomb in economics. Their currency devalued 50%. The earlier threats to the petrodollar &ndash;Libia selling oil for gold, Iraq for euro&rsquo;s- have been met with heavy resistance. Now, in Syria, it seems the world has changed. The predominantly Saudi-US creation of ISIS to destabilize the nations of Iraq and Syria into chaos has now failed. <em><strong>Could we again see Syria, Iraq and Iran work together to create the Friendship Pipeline (a.k.a. the Islamic Pipeline in the west), exporting oil from Iran to Europe? Or will it be more of the same political-economic-monetary-military export of the west, with freedom, democracy and human rights as it&rsquo;s sugarcoating?</strong></em></p> <h3 lang="en-US"><span style="text-decoration: underline;"><strong>The guardians of a new geopolitics: Iran-Russia-China</strong></span></h3> <p lang="en-US"><img alt="iranrussiachina" class="size-full wp-image-1739 aligncenter" src="" style="height: 349px; width: 500px;" /></p> <p lang="en-US"><u><strong>The demise of military hegemony</strong></u><br />The success-story of the liberation of Syria by ISIS is a result of the Astana peace talks between Russia, Syria, Turkey and Iran, not the Geneva talks where the US made promises it broke within days on the ground. It is the cooperation of Hezbollah, Iran, Iraq and Russia (as tides changed, Turkey) that in spite of US-Saudi aid to ISIS managed to liberate the countries of Syria and Iraq. The military power of Russia, with for example it&rsquo;s S-400 anti-missile all over the middle east is a game-changer. It&rsquo;s a defensive system that leaves air-intervention in a padlock. Turkey as well as Saudi Arabia buying these demonstrates once more the break down of this unipolar world. Where NATO&rsquo;s version is unable to attack &lsquo;friendly&rsquo; aircraft -friendly as defined by NATO-, the S-400 is neutral in this aspect and respects the autonomy of a country.</p> <p lang="en-US"><strong>As for within Syria, where Iran and Russia are invited by Syria and are legal in respect of international law, the United States is seen as an invader by Syria. </strong>Also, but most importantly, Assad is popular in Syria itself and self-determination is being undermined. It must sound as alienating to a west man&rsquo;s ears as Assad stressing education and health services in the rebuilding of Syria or the gas attack being from &lsquo;moderate rebels&rsquo;, not Assad&rsquo;s government. At the moment 95% of Syria has been freed from ISIS (sometimes known as moderate rebels in the west), yet the United States is still making a last-minute effort to control the border of Iraq and Syria to prevent regional integration -or a pipeline. They will fail.</p> <p lang="en-US"><u><strong>The demise of economic hegemony</strong></u><br />For the past decades the west has been producing less and less, as cheap labour was found in the east. It seemed to make the average western person rich as purchasing power (pp) rose. <strong>These riches are however the fruits of the rise of technology, oil and the currency devaluation of e.g. China. </strong>This cheap produce from the east could be branded to sell for many times it&rsquo;s cost as this gave way to multinationals and the service and retail industry in the west. Likewise, cheap money from the printing presses allowed for financial industry to blossom. And on the other side of the petrodollarcoin, the OPEC-countries maintained whatever powers that were via the high oil prices the world paid them and US protection.</p> <p lang="en-US"><strong>As the west and OPEC-countries profited of cheap labour, China saw a boom in exports that developed their country. China then used these profits to buy US obligations to keep their currency low as it blew up the dollars value even more. You could say a whole generation of Chinese has had to sacrifice/work their way out of a dollar-dominated trade.</strong></p> <p><span lang="en-US">Over the past decade Chinese growth has allowed for the rise of wages, &ldquo;</span><span lang="en-US"><em>China is no longer the cheap labor haven it once was. Monthly manufacturing wages reached 4,126 yuan at the end of 2015, equal to those in Brazil but much higher than Mexico, Thailand, Malaysia, Vietnam, and India.</em></span><span lang="en-US">&rdquo; &ndash;<a href="">Bloomberg</a>. Chinese per capita income rose from $200 in 1990 to $5000 in 2010. The Chinese middle class has grown significantly and according to the <a href="">World Bank</a>, more than 500 million people were lifted out of extreme poverty as China&rsquo;s poverty rate fell from 88 percent in 1981 to 6.5 percent in 2012. &ldquo;</span><span lang="en-US"><em>Between 1990 and 2005, China&rsquo;s progress accounted for more than three-quarters of global poverty reduction and a big factor in why the world reached the UN millennium development goal of halving extreme poverty.</em></span><span lang="en-US">&rdquo; &ndash;<a href="">Wikipedia</a>. Extreme poverty has now almost completely disappeared from China and by 2020 it aims to have eradicated poverty at all. These great stories don&rsquo;t form part of the wests reality. It clings on to past views of the world to explain its place in this world. The east looks forward, the west still only sees $1/hour sweatshops and environmental pollution.</span></p> <p lang="en-US">Besides the rise of purchasing power (PP) in the east soon meeting the demise of PP in the west and besides the oil price having plummeted with fewer petrodollars to recycle into the US economy, there is also the factor of technology that undermines the unipolar world, the western favoured world.</p> <p lang="en-US">Multinationals of the west used to be able to buy up cheap products, market them and sell them off highly priced, supporting whole industries in advertising and the service and retail sector. <strong>The internet however has now made it possible to bypass these western cooperations and to buy directly from small and medium enterprises (SME&rsquo;s) in China.</strong></p> <div id="attachment_1737"> <p><img alt="Alibaba's Singles' Day" src=";h=221" style="height: 356px; width: 499px;" /></p> <p><em>Alibaba processed 812 million orders within 24 hours and its payment service Alipay handled 1.5 billion transactions during the day, peaking at an incredible 256,000 transactions per second.</em></p> </div> <p lang="en-US"><strong>Chinese export subsidies make it very affordable to ship these products all over the world, where for example a European import tax on goods over &euro;30 from China seeks to limit this.</strong> As Alibaba allows western SME&rsquo;s to buy directly from Chinese SME&rsquo;s, bypassing import and export companies and western branding, so does AliExpress make these products available for the consumer. As this will temporarily save western purchasing power, it will in the long run also favour the real economy over the one pushed upon us by the wests hegemonic structuring of political-economic power. Less and less money will flow through this hierarchical organizing of society. And, &ldquo;<em>By 2020, China will account for about 60% of global e-commerce.</em>&rdquo; &ndash; <a href="">Forbes</a></p> <p><strong>China seeks to be at the forefront of the third industrial revolution by heavily investing in automation and renewable energy. </strong>&ldquo;<em>Somewhere around 80GW of solar manufacturing capacity exists in China, of 130GW global &ndash; using 50 of those 80 gigawatts is clear evidence that China is no longer focusing on exports.&rdquo;</em> &ndash;<a href="">Electrec</a>. China knows it will have to invest in automation and renewables, as the rise of wages is already putting pressure on economic growth. The Chinese are pricing themselves out of the market. This concept of economic interconnectivity of the real economy by connecting SME&rsquo;s and customers is part of China&rsquo;s &lsquo;<em>win-win</em>&lsquo;-strategy of diplomacy abroad. This is where the <em>Belt and Road Initiative</em> (BRI), fits in too. Both seek to facilitate and steer, rather than dominate. Like a parent would a child, a very Chinese view of government. <strong>The BRI is the largest infrastructural realization the world has seen to day and seeks to connect China via large infrastructure projects, or so called &lsquo;<em>new silk roads</em>&lsquo;, with the rest of the Eurasian continent, guarenteeing export for the foreseeable future as the Chinese economy is changing away from a production-oriented economy.</strong></p> <div class="wp-caption alignright" id="attachment_1736" style="max-width: 431px;"> <p><img alt="One Belt and Road Initiative (OBR)" class="alignnone wp-image-1736" src=";h=242" style="width: 499px; height: 287px;" /></p> <p class="wp-caption-text"><em>Belt and Road Initiative (BRI)</em></p> </div> <p lang="en-US"><strong>BRI connects the economies by annihilating time and space and creates interdependence, ideally preventing regional instabilities or wars. The &lsquo;win-win&rsquo; presents a clear business alternative against the hegemonic ways the west organizes the world to the advantage of those that have the advantage already.</strong></p> <p><span lang="en-US">One of these new silk roads will connect China via high speed rail and road to Europe via Russia, drastically reducing traveling time of goods and people. China and Russia have also found each other in bypassing the US dollar in bilateral trade. </span><em><span lang="en-US">&ldquo;In 2016, the share of national currencies in payments for exports of Russian goods and services was 13 percent, imports 16 percent. In the first quarter of 2017, these figures rose to 16 percent and 18 percent, respectively,&rdquo;</span></em><span lang="en-US"> <a href="">said</a> Russian Deputy Prime Minister Sergey Prikhodko. Jack Ma&rsquo;s Alibabi/Aliexpress has also been invited to stimulate, diversify and localize Russia&rsquo;s economy by creating a Russian arm of the company. Russia already diversified the economy over the past years dropping oil and gas state revenues from over 50% in 2014 to 39% now and less than 1/3</span><sup><span lang="en-US">rd</span></sup><span lang="en-US"> expected in <a href="">2020</a>. When sanctions from the west came for (people in) the oil, banking and military industry, Russia chose to reply with sanctions that affected the real economy, promoting the growth and diversifacation of local industry, creating an immense growth and maturation of their agricultural sector. The russian economy is remarkably self-relient in agriculture. &ldquo;<em>Russia is one of the world&rsquo;s leaders in exports of grain, vegetable oils, fish, and a number of other foods. We expect to become the leading supplier of ecologically clean food to our neighbors in the Asia-Pacific region.&rdquo;</em>, <a href="">p</a><a href="">ublished</a> by Russia ahead of the APEC meeting of last november.</span></p> <p lang="en-US"><strong>It would be interesting for people in the west to listen to a Valdai speech of Vladimir Putin, the speech of Xi Jinping at the 18<sup>th</sup> Central Committee of the Communist Party of China or to the balanced words of Hasán Rouhaní when confronted with polarizing western rhetoric.</strong> For most in the west however, the mind has constructed views of these countries that are hard to break, based on allegations circulating within the western bubble of reality that seek to polarize and justify the unipolar hegemony. Russia&rsquo;s RT has successfully been able to show different understandings of the world and has become the object of discussion itself. It&rsquo;s usually a disturbing allegation brought forward by a politician, backed up by institutions and amplified by media. It either consequently lacks any proof of the allegation and usually ends in self-reference to the wests mediapolitical show and might even be corrected when the attention of the media has shifted to a new hype or is either so blown out of proportion that it fails to make the argument. This includes the election-hacking I&rsquo;ve <a href="">written</a> (Dutch) about before, as well as the whole Crimea-unification, as I&rsquo;ve <a href="">written</a> about before as well. There is a world of views to discover for which I hope we may find ourselves mature enough to decide over ourselves. Geopolitical analyst Pepe Escobar put it wonderfully when visiting Iran, &ldquo;<em>So once again, in Tehran, provoked by the meeting of minds around the conference &ndash; the absolute opposite of &ldquo;clash of civilizations&rdquo; &ndash; it was possible to discuss how Iran (resistance against injustice), China (remixed Confucianism) and Russia (Eurasianism) are offering post-Enlightenment alternatives that transcend Western liberal democracy &ndash; a concept that has been completely co-opted and shattered by the hegemony of neoliberalism.</em>&rdquo;</p> <p lang="en-US"><u><em><strong>The longer the mediapolitical west keeps up the false narratives around Russia, Iran and China for maintaining their unipolar worldview, the more it will distance itself from the socioeconomic integration in the world around them. It will happen slowly -China favours stability-, as our growth slows down and tourists will visit our historic scenery. The new Silk Road doesn&rsquo;t have to stop in Istanbul or Moscow, it can connect through to the harbour of Rotterdam and go via Berlin. The concept of the enemy is the produce of a society that lacks the leap of trust to participate in a lateral way in the challenges of tomorrow.</strong></em></u></p> <p lang="en-US">The west will have to start to understand that the ideas of the enlightenment, the concepts of freedom, democracy and human rights are shattered not by the development of the rest of the world -the exception of ISIS noted-, but by the stratification of a society undermined by monetary and neoliberal concepts that have hollowed out their ideals. As for spreading those ideals of human rights, freedom and democracy abroad, we might do well listening once again to the east. The Chinese do not argue these principles, yet are in no way convinced of the path dictated by the west, nor the moral high ground to preach from. They see these principles arising out of economic development. Out of a rising middle-class and basic needs for citizens -thus free of poverty and free from harsh economic inequality- will arise democracy. These values have to be developed and can not be enforced without economic democracy and basic needs. How can you expect someones human rights to come first, does not your survival do? In the export of Chinese &lsquo;win-win&rsquo; diplomacy, it does not seek to impose a way of living, a certain developmental path. It provides stability, a way for both economies to become interdependent, of which cultural exchange and respect may follow.</p> <p lang="en-US"><strong>The west is in debt, immensely. And this time it&rsquo;s not only consumer debt that resulted in the mortgage crises of 2008, it&rsquo;s also corporate debt, states, bond markets, you name it.&nbsp; Whatever credit market the crises will start in, it will spill over resulting in a crash far greater than 2008. The real wealth has moved east. Sure, China has debt, but it also has growth and actual production and it&rsquo;s debt is small in comparison. Russia and Iran hardly have any debt. Gold is moving from west to east and is in high demand. We can&rsquo;t see it reflected in the price yet, for the wests money printing presses and their leveraged &lsquo;paper gold&rsquo; still manage to hold down the prices, but the direction is clear.</strong></p> <p lang="en-US">If not for production, resources or gold, what still backs a euro or a dollar? With <em>bitcoin</em> gaining credibility with each passing day, be it for storage or as currency, the euro/dollar demise doesn&rsquo;t even stop there. Blockchain, the technology behind bitcoin, allows for the whole replacement of most of the financial world that forms one of the last strongholds of western power. Ethereum&rsquo;s <em>ether</em> does not only allow for new coins (the famous <em>initial coin offerings</em> where lots of money is bound to be lost) on top of their base system, but this also allows for smart contracts. These have the potential to replace any mortgage, loan or other smart contract you could think to need a financial institution for. In time, settings in a program or on a site will make these interpersonally, with the community to verify for the conditions made. <strong>Russia, the first state to announce so, has it&rsquo;s CryptoRuble ready, undoubtedly balancing the perseverance of the state (taxes) with the newfound freedoms and stability of digital money.</strong></p> <div class="wp-caption alignnone" id="attachment_1747" style="max-width: 1676px;"><img alt="China's Panda Power Plant" class="alignnone size-full wp-image-1747" src="" style="height: 395px; width: 500px;" /><br /> <p class="wp-caption-text"><em>China&rsquo;s Panda Power Plant</em></p> </div> <p lang="en-US"><strong>With the west to be behind in automation and renewables, without production and resources and no multinationals and financial world to profit of others, what are we but left in dependency?</strong> It&rsquo;s time to find ground in roots of the renaissance and the enlightenment, find strength in local economies connecting laterally to local economies, find autonomy in renewables and find security in cryptocurrencies and gold as we connect ourselves to a future we can pull forward ourselves, away of dependance of institutions and corporations we can not rely on and in spite of their hinderance. As we pull out of globalization as put forward by the west, we will see the world connect globally from a local angle. And, as automation and technology can decentralize, they can provide locally. Think crypto instead of central bank or mortgage, solar instead of OPEC, 3d-printing directly from local resources instead of shipping from afar, the arts and craftsmanship (a design at the local 3D-shop?) instead of the wage-slave, vertical farming instead of poverty and local abundance instead of global scarcity. It&rsquo;s a way of thinking that puts autonomy and free time back up front. Wasn&rsquo;t that what freedom once meant? And from that place, we will see each other in shared pursuits of dreams.</p> <p lang="en-US"><u><em><strong>Surely, all societies have flaws and have challenges to work on, as I understand this is the case in China, Russia and Iran, however, a western attitude of false moral superiority prevents understanding.</strong></em></u> How can we adapt to a future we understand less and less? The more the west will put in the full weight of it&rsquo;s apparatus based on the old industrial revolutions and monetary and mediapolitical hot air, the harder the fall will be. The more the west clings on to this western bubble of reality brought to them by giving ear to their mediapolitical, the more certain it&rsquo;s demise will be.<strong> The multipolar world now holds up a mirror, it&rsquo;s about time the west dare look into it. It&rsquo;s time for the west to grow up and join a new world in the making.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="550" height="282" alt="" src="" /> </div> </div> </div> 18th Central Committee Apple Asia-Pacific Asia-Pacific Economic Cooperation Assad’s government Bank of New York Bitcoin Bond Brazil Central Banks China Chronology of world oil market events Communist Party of China Fail Hizballah India Iran Iraq Islamic State of Iraq and the Levant Mexico Middle East Middle East North Atlantic Treaty Organization OPEC OPEC Organization of Petroleum-Exporting Countries Petrodollar recycling Petroleum industry Petroleum politics Purchasing Power Reality Renaissance Saudi Arabia Syria Terrorism Turkey United Nations Vladimir Putin World Bank World Bank World Trade Yuan Mon, 20 Nov 2017 08:30:00 +0000 Tyler Durden 607564 at Putin Blamed For Poland's Bust-Up With Brussels <p><strong><a href="">Russia-gate blame-scaping is accelerating across Europe</a>... </strong>and now it is being embraced by none other than European Council President Donald Tusk.</p> <p><a href=""><img alt="" src="" style="width: 560px; height: 335px;" /></a></p> <p>In what is an <strong>unprecedented attack by an EU leader on a member state&rsquo;s sitting government</strong>, <a href="">Bloomberg reports</a> that Tusk explicitly suggests the ruling Law &amp; Justice party is merely a &#39;puppet of Putin&#39; and just forwarding Russian interests...</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;Strident dispute with Ukraine, isolation in the European Union, walking away from rule of law and judicial independence, attack on non-governmental sector and free media,&rdquo; Tusk wrote on his personal Twitter account on Sunday.<span style="text-decoration: underline;"><em><strong>&nbsp;</strong></em></span></p> <p>&nbsp;</p> <p><span style="text-decoration: underline;"><em><strong>&ldquo;Law &amp; Justice strategy or Kremlin plan? Too similar to sleep well.&rdquo;</strong></em></span></p> </blockquote> <p>This aggresiver tweet comes just days after Poland&#39;s Independence Day parades &#39;triggered&#39; mainstream media everywhere... as tens of thousands of people, waving tens of thousands of white-and-red national flags young and old, of all walks of life, with whole families take to the streets. <strong>&nbsp;</strong></p> <p><a href=""><img height="302" src="" width="560" /></a></p> <p><a href="">As we detailed previously</a>, <strong>to the western media these are Nazis, racists, anti-semites and islamophobes. An abomination for the European Union.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>What has positive overtones in Poland (patriotism, faith, family), has negative ones in Western Europe and the other way round. Migrants, LGTBQ and gender mainstreaming is not welcome in the area between the Oder and Bug Rivers. <strong>The EU values cannot be farther from Poland&rsquo;s values and vice versa.</strong></p> <p>&nbsp;</p> <p>The Independence March denigrated by the Western media was favourably covered by the Polish government and other national media, except for those which are far to the left and very much pro-European. The former shored up the positive aspects of the event, the latter only looked for incidents to blow them out of any proportion and join the chorus of their western counterparts in condemning <em>&ldquo;fascists&rdquo;</em> and <em>&ldquo;white supremacists&rdquo;</em>.</p> <p>&nbsp;</p> <p><span style="text-decoration: underline;"><strong>A thirty-six million nation in the heart of Europe (i.e. with a population approximately the size of Spain&rsquo;s) is throwing down the gauntlet to the EU establishment and its view of European unity</strong></span> based on cultural and religious indifference and anti-nationalism.</p> </blockquote> <p><a href="">As Bloomberg notes,</a> Tusk&rsquo;s tweet is the latest salvo in a war of words between Poland and the EU, as<strong> fears mount in Brussels that Warsaw&rsquo;s government is shifting toward authoritarian rule.</strong> It also adds to speculation that the 60-year-old former Polish prime minister plans a comeback to domestic politics when his term as chairman of EU leaders&rsquo; meetings expires in 2019, the same year that current parliament and government&rsquo;s term ends in Poland.</p> <p><a href=""><img height="288" src="" width="560" /></a></p> <p><strong>On Friday, Prime Minister Beata Szydlo criticized her fellow leaders and lawmakers from the bloc for weighing sanctions against the nation over anti-democratic actions and suggested they weren&rsquo;t being honest.</strong> The&nbsp;<a href="" title="Company Overview">European Parliament</a>&nbsp;said last week it would examine possible sanctions against Poland over democratic backsliding. That opens a second EU front against Warsaw after the&nbsp;<a href="" title="Company Overview">European Commission</a>&nbsp;last year initiated a rule-of-law investigation into the right-wing Law &amp; Justice party due to judicial independence concerns.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;I can&rsquo;t not tell the prime ministers that we should respect each other, that we should strive for our political families to have respect for other countries in the public debate, in the European Parliament and in other European institutions,&rdquo; </strong>Szydlo told reporters in Gothenburg, Sweden, before a meeting with her EU counterparts on Nov. 17.</p> <p>&nbsp;</p> <p><strong>&ldquo;Debates should be based on the truth.&rdquo;</strong></p> </blockquote> <p><a href="">As we conclude previously</a>, <em>at the time when the Soviets were establishing the communist political system in Central Europe someone said (someone ascribed these words to Stalin himself) that communism fits the Polish nation like a saddle fits a cow. <strong>Is the attempt to Europeanize Poles another attempt at saddling the cow?</strong></em></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="788" height="471" alt="" src="" /> </div> </div> </div> Central Europe Donald Tusk European Commission European Council European Parliament European Union European Union European Union History of Poland 1989–present) Law & Justice party None Poland Polish Constitutional Court crisis Polish government Politics Twitter Twitter Ukraine Warsaw’s government western Europe World World history Mon, 20 Nov 2017 07:45:00 +0000 Tyler Durden 607562 at Germany: Spike In Stabbings <p><a href=""><em>Authored by Soeren Kern via The Gatestone Institute,</em></a></p> <div> <ul> <li>Chancellor Angela Merkel&#39;s open-door migration policies have set in motion a <strong>self-reinforcing cycle of violence </strong>in which more and more people are carrying knives in public - including for self-defense.</li> <li>A 40-year-old man stabbed to death his 31-year-old wife and mother of their three children. Police said the man was angry that his wife was using social media.</li> <li>A &quot;dark-skinned&quot; man (<em>dunklem Teint</em>) drew a knife on a 54-year-old female train conductor when she asked him for his ticket.</li> </ul> </div> <p><strong>A recent surge in stabbings and knife-related violence across Germany is drawing renewed attention to the deteriorating security situation there since Chancellor Angela Merkel&#39;s 2015 decision to allow in more than a million migrants from Africa, Asia and the Middle East.</strong></p> <p>In recent months, people armed with knives, axes and machetes have brought devastation to all of Germany&#39;s 16 federal states. Knives have been used not only not only to carry out jihadist attacks, but also to commit homicides, robberies, home invasions, sexual assaults, honor killings and many other types of violent crime.</p> <p><strong>Knife-related crimes have occurred in amusement parks, bicycle trails, hotels, parks, public squares, public transportation, restaurants, schools, supermarkets and train stations. Many Germans have the sense that danger lurks everywhere; public safety, nowhere.</strong></p> <p>Police <a href="" target="_blank">admit</a> they are outnumbered and overwhelmed and increasingly unable to maintain public order &mdash; both day and night.</p> <p>Statistics that are reliable on knife violence in Germany - where police been <a href="" target="_blank">accused</a> of failing to report many crimes, apparently in an effort &quot;not to unsettle&quot; the public - do not exist.</p> <p><strong>A search of German police blotters, however, indicates that 2017 is on track to become a record year for stabbings and knife crimes: Police <a href="" target="_blank">reported</a> more than 3,500 knife-related crimes between January and October 2017, compared to around 4,000 reported crimes during all of 2016 - and only 300 in 2007. Overall, during the past ten years, knife-related crimes in Germany have increased by more than 1,200%.</strong></p> <p><u><strong>The media in Germany do not report most knife-related violence.</strong></u> Crimes that are reported are often dismissed as &quot;isolated incidents,&quot; unrelated to mass immigration. Moreover, many crime reports, including those in police blotters, omit any reference at all to the nationalities of the perpetrators and victims &mdash; ostensibly to avoid inflaming anti-immigration sentiments.</p> <table align="center" border="0" cellpadding="0" cellspacing="0" style="margin-bottom: 5px; max-width: 600px;"> <tbody> <tr> <td style="max-width: 600px; border: 1px solid black;"><img border="0" src="" style="max-width: 100%;" /><br /> <p style="font-size: 82%; margin: 4px 6px;">Pictured: German police secure the crime scene after a knife attack on May 10, 2016 at the train station in Grafing. A man stabbed four people while reportedly shouting &quot;Allahu Akbar&quot; (&quot;Allah is greater&quot;), killing one. (Photo by Johannes Simon/Getty Images)</p> </td> </tr> </tbody> </table> <p><strong>Merkel&#39;s open-door migration policies have, however, set in motion a self-reinforcing cycle of violence in which more and more people are carrying knives in public &mdash; including for self-defense.</strong></p> <p>The epicenter of knife-related violence in Germany is <strong>Berlin</strong>, where some areas are now so dangerous that they have effectively become no-go zones. In Neukölln and other neighborhoods with large immigrant communities, stabbings have become daily features of life. Migrants were responsible for at least 45% of the crimes committed in the German capital in 2016, <a href="" target="_blank">according</a> to the <em>Berliner Morgenpost</em>.</p> <p>The northern cities of <strong>Bremen</strong> and <strong>Bremerhaven</strong> are also hotbeds of knife violence. In 2016, at least 469 people &mdash; more than one a day &mdash; were stabbed in Bremen, <a href="" target="_blank">according</a> to official documents obtained by the newspaper <em>Bild</em>. More than a dozen people in Bremen died of their stab wounds. Another 165 knife attacks were registered in nearby Bremerhaven, a 75% increase since 2014. Migrants, according to <em>Bild,</em> were found responsible for most of the violence.</p> <p>Another flashpoint of knife violence is <strong>North Rhine-Westphalia</strong>; stabbings are rampant in Bielefeld, Bochum, Bonn, Cologne, Dortmund, Düsseldorf and Essen, among other cities. Düsseldorf&#39;s city center has been particularly plagued by stabbings.</p> <p>Many knife attacks appear to be random, indiscriminate assaults on innocent bystanders &mdash; especially at transport hubs and on public transportation:</p> <ul> <li><strong>Munich</strong>, October 21. A 33-year-old man <a href="" target="_blank">randomly stabbed</a> eight people, including a 12-year-old boy, at the Rosenheimer Platz. Police said they &quot;assume&quot; that the stabber, a serial offender with a long rap sheet, was suffering from a &quot;mental disorder.&quot;</li> <li><strong>Mönchengladbach</strong>, October 16. An 18-year-old Algerian, in Germany illegally, randomly <a href="" target="_blank">drew a knife</a> on a 65-year-old man in a wheelchair at the central train station.</li> <li><strong>Hamburg</strong>, October 15. A 23-year-old man was <a href="" target="_blank">stabbed</a> in a restaurant after he made &quot;accidental eye contact&quot; with his attacker.</li> <li><strong>Berlin</strong>, October 11. Two passersby were <a href="" target="_blank">stabbed</a> at the Neukölln subway station. Police said the attack was random and unprovoked.</li> <li><strong>Cologne</strong>, October 2. A 24-year-old woman was <a href="" target="_blank">robbed at knifepoint</a> by a &quot;dark-skinned&quot; man (<em>dunklen Teint</em>) while on a train to Düsseldorf&#39;s airport.</li> <li><strong>Mannheim</strong>, September 30. A 31-year-old man <a href="" target="_blank">stabbed</a> random passersby. Police fired a warning shot after pepper spray failed to subdue him.</li> <li><strong>Leipzig</strong>, July 27. A 46-year-old father at an amusement park with his family was <a href="" target="_blank">stabbed</a> and seriously injured when he was attacked by a group of Afghan youths.</li> </ul> <p>Knife attacks increasingly involve teenagers and young children as well as women:</p> <ul> <li><strong>Gießen</strong>, November 15. Two &quot;southern-looking&quot; men (<em>südosteuropäisch Aussehen</em>) <a href="" target="_blank">drew a knife</a> on two children at a school playground and took their lunch money.</li> <li><strong>Dormagen</strong>, November 15. A 39-year-old man randomly <a href="" target="_blank">drew a knife</a> on a teenager at the Helmut-Schmidt-Platz. The attacker was transferred to a psychiatric ward.</li> <li><strong>Wiesbaden</strong>, November 14. A man <a href="" target="_blank">drew a knife</a> on a woman and her children in broad daylight at a playground. The woman said the man tried to steal her dog and when she resisted, attacked her.</li> <li><strong>Cologne</strong>, November 2. A 39-year-old woman was <a href="" target="_blank">stabbed</a> by a man on drugs.</li> <li><strong>Singen</strong>, October 4. Two 14-year-old children speaking Turkish <a href="" target="_blank">drew a knife</a> and assaulted several children at a playground.</li> <li><strong>Dortmund</strong>, October 1. A 15-year-old was <a href="" target="_blank">stabbed</a> after he tried to stop a fight between a 13-year-old and a 16-year-old at the Gustav-Heinemann school.</li> <li><strong>Freiburg,</strong> September 29. A 34-year-old woman was <a href="" target="_blank">stabbed</a> by another woman during a dispute in a parking lot.</li> <li><strong>Hermannsburg</strong>, August 29. A man <a href="" target="_blank">drew a knife</a> on a 22-year-old woman because she was supposedly holding up traffic in a parking garage.</li> </ul> <p>In mass brawls between groups of people from different nationalities and ethnic groups, knives appear to be weapons of choice:</p> <ul> <li><strong>Erfurt</strong>, November 11. A 22-year-old Afghan was <a href="" target="_blank">stabbed</a> and seriously injured during an altercation with other Afghans at a multifamily house.</li> <li><strong>Rüdersdorf</strong>, November 11. A 19-year-old was seriously injured during a <a href="" target="_blank">knife fight</a> at a multifamily house.</li> <li><strong>Hamburg</strong>, November 9. Three men were <a href="" target="_blank">stabbed</a> during a knife fight in Eimsbüttel.</li> <li><strong>Berlin</strong>, November 7. A 21-year-old Vietnamese man was <a href="" target="_blank">stabbed to death</a> as he left his father&#39;s convenience store in the Wilmersdorf district. The killer is still at large.</li> <li><strong>Bremen</strong>, November 2. A 20-year-old man was <a href="" target="_blank">stabbed to death</a> during a mass brawl in front of a kebab restaurant. A few hours earlier, another man had been <a href="" target="_blank">shot to death</a> in a nearby supermarket.</li> <li><strong>Hoyerswerda</strong>, October 25. A 23-year-old Libyan was <a href="" target="_blank">slashed in the face</a> during a fight with a 28-year-old Libyan and a 23-year-old Tunisian.</li> <li><strong>Bad Wildungen</strong>, October 16. An 18-year-old man was stabbed and seriously injured when a dozen people got into a <a href="" target="_blank">knife fight</a>.</li> <li><strong>Eschwege</strong>, October 15. A 23-year-old Afghan <a href="" target="_blank">stabbed</a> a 23-year-old Algerian during a mass brawl involving more than 40 people at a refugee shelter.</li> <li><strong>Dortmund</strong>, October 14. More than 40 migrants engaged in a <a href="" target="_blank">knife fight</a> at a refugee shelter. When police arrived, they were &quot;massively attacked&quot; by the mob. Police used dogs to restore order.</li> <li><strong>Cologne</strong>, October 14. A 22-year-old migrant from Africa was <a href="" target="_blank">stabbed to death</a> at the Ebertplatz in a knife fight involving six other Africans.</li> <li><strong>Öhringen</strong>, October 12. A 17-year-old German-Turk <a href=";art1494,3924865" target="_blank">stabbed</a> and seriously wounded a 19-year Pole during a knife fight.</li> <li><strong>Bielefeld</strong>, October 2. A 21-year-old man was repeatedly <a href="" target="_blank">stabbed</a> after he came to the aid of a couple being attacked by a group of Afghan men at a skate park. More than 20 people eventually joined the fight. The stabbing suspect is an 18-year-old Iraqi Kurd.</li> <li><strong>Naumburg</strong>, October 1. An 18-year-old Afghan and a 19-year-old Moroccan were <a href="" target="_blank">stabbed</a> during a mass brawl between persons of foreign origin.</li> <li><strong>Dortmund</strong>, September 3. A 34-year-old Bulgarian <a href="" target="_blank">stabbed</a> a 54-year-old Turk outside a restaurant.</li> </ul> <p>Knives have also been used in &quot;honor&quot; violence and internecine disputes:</p> <ul> <li><strong>Bad Homburg</strong>, October 30. A 40-year-old man <a href="" target="_blank">stabbed to death</a> his 31-year-old wife and mother of their three children. Police said the man was angry that his wife was using social media.</li> <li><strong>Oldenburg</strong>, October 14. The trial began of a 37-year-old Iraqi accused of <a href=",1,332451280.html" target="_blank">stabbing to death</a> his wife, the mother of his five children, who were in the house at the time of the attack. According to the indictment, the Iraqi murdered his wife to restore the &quot;family honor&quot; after he believed she was having an affair with another man. The woman had, in fact, been attending German language courses.</li> <li><strong>Eggenfelden</strong>, October 4. A 47-year-old migrant from Kazakhstan <a href="" target="_blank">castrated</a> a 28-year-old Ukrainian migrant at a migrant shelter; the victim bled to death at the scene.</li> <li><strong>Leipzig</strong>, August 11. A 37-year-old Afghan <a href="" target="_blank">stabbed to death</a> his 34-year-old wife, who was pregnant with their third child. The couple&#39;s two children were present at home during the crime.</li> <li><strong>Riederich</strong>, July 9. A 35-year-old Macedonian <a href="" target="_blank">stabbed to death</a> a 30-year-old Macedonian from a rival clan during a wedding.</li> <li><strong>Herzberg,</strong> June 29. Mohammad Hussain Rashwani, a 38-year-old migrant from Syria tried to <a href=";art1056,6061969" target="_blank">behead</a> 64-year-old Ilona Fugmann at her beauty salon. Fugmann had offered Rashwani a job as a hair stylist and German media praised him as an exemplar of successful integration. Mohammad reportedly had found it difficult to subordinate himself to his female boss.</li> <li><strong>Cologne</strong>, June 14. A 33-year-old Syrian <a href="" target="_blank">stabbed</a> and seriously injured his ex-wife at a supermarket in Cologne. He also stabbed his 13-year-old son after the boy intervened to protect his mother.</li> <li><strong>Cottbus</strong>, June 9. A 32-year-old Chechen man was <a href="" target="_blank">sentenced</a> to 13 years in prison for slitting his wife&#39;s throat and throwing her out of the second-floor window of their apartment. The man was charged with manslaughter rather than murder because, according to the court, the &quot;honor killing&quot; was done in the heat of passion: the man thought that his wife had been unfaithful.</li> </ul> <p>Knife attacks also occurred against social workers and public servants:</p> <ul> <li><strong>Pfaffenhofen</strong>, November 11. A 28-year-old Kazakh-German held a 31-year-old clerk at a youth welfare office <a href="" target="_blank">hostage at knifepoint</a> for more than five hours. He said he disagreed with the results of a custody battle, in which his one-year-old daughter would be sent to a foster home.</li> <li><strong>Göppingen</strong>, October 26. A &quot;dark-skinned&quot; man (<em>dunklem Teint</em>) <a href="" target="_blank">drew a knife</a> on a 54-year-old female train conductor when she asked him for his ticket.</li> <li><strong>Ahaus</strong>, October 12. A 28-year-old Nigerian was sentenced to 13 years in prison for <a href="" target="_blank">stabbing to death</a> a 22-year-old assistant at a refugee shelter.</li> <li><strong>Saarbrücken</strong>, June 7. A 27-year-old Syrian <a href="" target="_blank">stabbed to death</a> a 30-year-old psychologist working for the German Red Cross. The attacker and the psychologist reportedly got into an argument during a therapy session at a counselling center for traumatized refugees.</li> </ul> <p>Attackers are often repeat offenders known to police:</p> <ul> <li><strong>Gießen</strong>, November 15. A 29-year-old Kosovar and a 19-year-old Albanian <a href="" target="_blank">drew a knife</a> on an undercover detective who caught them shoplifting. Police said the Kosovar was wanted on an outstanding arrest warrant.</li> <li><strong>Bielefeld</strong>, October 31. A 39-year-old man <a href="" target="_blank">drew a knife</a> on police during a routine identification check. Police said he had a long rap sheet that included burglary and dealing drugs.</li> <li><strong>Düsseldorf</strong>, October 17. A 27-year-old migrant, Khudeda Jamal Jindi, from Iraq, <a href="" target="_blank">slashed</a> a man in the face at Burgplatz. Police <a href="" target="_blank">said</a> he had a long rap sheet that included other knife crimes; it remains unclear why he was never deported.</li> <li><strong>Arnschwang</strong>, June 4. Mostafa J., a 41-year-old asylum seeker from Afghanistan, <a href="" target="_blank">stabbed to death</a> a five-year-old Russian at a refugee shelter. It later emerged that the man had a criminal history in Germany and should have been deported in 2011 but was not.</li> </ul> <p>Recent knife-jihad attacks include:</p> <ul> <li><strong>Hamburg</strong>, July 28. A 26-year-old Palestinian, Ahmed A., <a href="" target="_blank">stabbed to death</a> one person and injured several others at a supermarket in the Barmbek district. Although he repeatedly shouted &quot;Allahu Akbar&quot; and said he was a jihadist who wanted to die as a martyr, the newspaper <em>Die Welt</em> <a href="" target="_blank">wrote</a>: &quot;It is still unclear whether the Barmbek murder is the work of a convinced Islamist or the desperate act of a mentally troubled person. His approach seems downright schizophrenic &mdash; or is it indeed calculated?&quot;</li> </ul> <p>Meanwhile, other knife-related crimes reported during October include:</p> <ul> <li><strong>Hagen,</strong> October 1. An unidentified man <a href="" target="_blank">slashed</a> a man with a machete at the central train station. <strong>Speyer</strong>, October 1. A 27-year-old man with a <a href="" target="_blank">knife</a> attacked police during an identification check at the central railway station. <strong>Werl</strong>, October 1. A &quot;southern-looking&quot; man (<em>südländischer Typ</em>) <a href="" target="_blank">robbed</a> on a 20-year-old man at knifepoint.</li> <li><strong>Wilhelmshaven</strong>, October 1. A man speaking German with an Eastern European accent <a href="" target="_blank">robbed</a> a gas station at knifepoint. <strong>Freiburg,</strong> October 2. Two &quot;Turkish-looking&quot; teenagers (<em>türkisches Aussehen</em>) <a href="" target="_blank">robbed</a> two teenagers at knifepoint in a public plaza.<strong> Ulm</strong>, October 2. Three &quot;dark-skinned&quot; men (<em>dunkle Hautfarbe</em>) <a href="" target="_blank">robbed</a> a 20-year-old man at knifepoint.</li> <li><strong>Soest</strong>, October 4. An 18-year-old Somali <a href="" target="_blank">stabbed</a> a 39-year-old German man at a railway station. <strong>Hamburg</strong>, October 5. A 24-year-old security guard at a clothing store was <a href="" target="_blank">stabbed</a> when he confronted two male shoplifters. <strong>Wolfsburg</strong>, October 6. Two men were <a href="" target="_blank">slashed</a> during a fight in the Hochring district. <strong>Wiesbaden</strong>, October 6. A 23-year-old man was <a href="" target="_blank">stabbed</a> in the city center.</li> <li><strong>Johanngeorgenstadt</strong>, October 7. Five teenagers had their knives <a href="" target="_blank">confiscated</a> during a weapons check at the German/Czech border. <strong>Münster</strong>, October 7. Two men robbed a 16-year-old at knifepoint at a bus stop. <strong>Bremen</strong>, October 8. Two men were <a href="" target="_blank">stabbed</a> during a fight in the city center.</li> <li><strong>Weinheim</strong>, October 9. A 24-year-old store clerk was <a href="" target="_blank">stabbed</a> by a 46-year-old client. <strong>Hofheim</strong>, October 10. A private security guard was <a href="" target="_blank">slashed</a> at an Oktoberfest celebration. <strong>Cologne</strong>, October 10. A 36-year-old man was <a href="" target="_blank">stabbed</a> by a 26-year-old at a kiosk in the Zollstock district.</li> <li><strong>Stade</strong>, October 11. A &quot;southern-looking&quot; man (<em>südländischem Aussehen</em>) <a href="" target="_blank">stabbed</a> and seriously injured a 38-year-old man. <strong>Berlin</strong>, October 13. A man was seriously injured in a <a href="" target="_blank">knife fight</a> at the Alexanderplatz. <strong>Kassel</strong>, October 15. Two &quot;Arabic-speaking&quot; men robbed a 43-year-old woman <a href="" target="_blank">at knifepoint</a> in the Wesertor district.</li> <li><strong>Niederstetten</strong>, October 17. A 19-year-old man <a href="" target="_blank">stabbed</a> a 30-year-old man in the stomach at a restaurant. The stabbing occurred after the 30-year-old allegedly &quot;offended&quot; the 19-year-old&#39;s wife. <strong>Bremen</strong>, October 19. A 25-year-old man was <a href=",-mob-bedraengt-polizeibeamte-in-huchting-_arid,1659676.html" target="_blank">stabbed</a> by a group of males in the Huchting district. When police arrived to investigate, they were immediately surrounded by a mob of between 30 and 40 men. Police used teargas and dogs to restore order. <strong>Berlin</strong>, October 19. A 19-year-old Romanian was <a href="" target="_blank">stabbed to death</a> in the Tiergarten district.</li> <li><strong>Halle</strong>, October 19. A man was <a href="" target="_blank">stabbed</a> during an dispute over drugs. <strong>Düsseldorf</strong>, October 21. Two men were <a href="" target="_blank">stabbed</a> by four assailants in front of a McDonald&#39;s restaurant in the city center. <strong>Stemwede</strong>, October 21. Three members of the same family were <a href="" target="_blank">stabbed</a> during a dispute. The attack was apparently initiated by a 43-year-old man opposed to his step-daughter&#39;s choice of boyfriend.</li> <li><strong>Hamburg</strong>, October 22. An 18-year-old clerk at a cellphone store was <a href="" target="_blank">stabbed</a> by a 21-year-old man unhappy with the service. <strong>Hamburg</strong>, October 22. A 30-year-old man was <a href="" target="_blank">stabbed</a> in the stomach at the entrance to a subway station. <strong>Düsseldorf</strong>, October 22. A 21-year-old man was <a href="" target="_blank">stabbed</a> while trying to break up a fight.</li> <li><strong>Rheine</strong>, October 22. A 20-year-old Romanian <a href="" target="_blank">stabbed</a> a 44-year-old Romanian during a disagreement. <strong>Berlin</strong>, October 23. A 59-year-old man was <a href="" target="_blank">stabbed</a> and seriously injured at a store in the Schöneberg district. <strong>Leipzig</strong>, October 23. A 21-year-old man was <a href="" target="_blank">stabbed</a> during a fight at the central train station.</li> <li><strong>Solingen</strong>, October 23. A 19-year-old man was <a href="" target="_blank">stabbed</a> during an fight. <strong>Berlin</strong>, October 24. A 39-year-old man <a href="" target="_blank">stabbed</a> a 20-year-old man at the Jewish Hospital in the Wedding district. <strong>Hünstetten-Bechtheim</strong>, October 27. An 18-year-old man was <a href="" target="_blank">stabbed</a> at an annual festival.</li> <li><strong>Wangen</strong>, October 29. A 56-year-old man <a href="" target="_blank">stabbed</a> a 52-year old man during a disagreement at a restaurant. <strong>Chemnitz</strong>, October 29. A 27-year-old Libyan was <a href="" target="_blank">stabbed</a> during a knife fight involving migrants from North Africa.</li> <li><strong>Gießen</strong>, October 30. Two Syrian asylum seekers were <a href="" target="_blank">stabbed</a> during an altercation with another Syrian in the city center. <strong>Waldshut</strong>, October 30. A 32-year-old man was <a href="" target="_blank">stabbed</a> and seriously injured during a row at a bus station in the Tiengen district. <strong>Frankfurt</strong>, October 30. An apartment manager was <a href="" target="_blank">stabbed</a> and seriously injured when he attempted to evict a family from the premises.</li> <li><strong>Kulmbach</strong>, October 31. A 38-year-old Turk <a href="" target="_blank">stabbed</a> a 33-year-old German during a dispute. <strong>Berlin</strong>, October 31. Three men were injured during a <a href="" target="_blank">knife fight</a> involving six men at a store in the Schöneberg district. The <em>Berliner Zeitung</em> provided an unusually detailed account of the fight, including the ages of each of the participants, but failed to give any information about their nationality.</li> </ul> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="586" height="352" alt="" src="" /> </div> </div> </div> Afghanistan Combat Czech European migrant crisis Gatestone Institute German police German Red Cross Germany Iraq Islamic terrorism in Germany Israeli–Palestinian conflict Jewish Hospital Kazakhstan Knife legislation Knives Law Middle East Middle East Mohammad Newspaper North Africa North Rhine Palestinian terrorism Statutory law UN Court Violence Mon, 20 Nov 2017 07:00:00 +0000 Tyler Durden 607558 at