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The Eurozone Is The Greatest Danger





Financial and economic prospects for the Eurozone have many similarities to the 1972-75 period in the UK, which this writer remembers vividly.  This time, the prospects facing the Eurozone potentially could be worse. The obvious difference is the far higher levels of debt, which will never allow the ECB to run interest rates up sufficiently to kill price inflation. More likely, positive rates of only one or two per cent would be enough to destabilise the Eurozone’s financial system. Let us hope that these dangers are exaggerated, and the final outcome will not be systemically destabilising, not just for Europe, but globally as well. A wise man, faced with the unknown, believes nothing, expects the worst, and takes precautions.

 
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Futures Rise As Fed Fears Subside; Global Stocks Rebound From Six Week Lows





It will be fitting, not to mention symmetric, if stocks which yesterday closed at 7 weeks lows and red for the year, end the week the same way they started it: with a rally on no news, just more hopes that oil (which as recently as two years ago none other than Chair Yellen said said would be be "unambiguously good" if lower) will continue rising. While US markets ended yesterday's trading on a sour note, that weakness has failed to spread to the rest of the world, and global shares rebounded from a six-week low as crude and commodity prices recovered, while the yen weakened on reduced demand for haven assets.

 
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Is China A "House Of Cards"?





Xi not only is the Commander-in-Chief in the fight against corruption; he’s now Commander-in-Chief of China’s joint battle command center as well. Yet even this awesome concentration of power does not mean that Xi is an unassailable deity. On the key drama – the state of the economy – it has emerged that in a recent interview by the People’s Daily with an anonymous “authoritative person”, printed on the front page and exposing deep economic divergence among the CCP leadership, the “authoritative person” in question was none other than Xi. He had to take to the key media read by anyone who’s anyone in China to press his point on how to fix China’s debt-ridden economy; low growth is OK, and the new normal; as for blind credit expansion/monetary easing, that’s not OK. Xi, once again, is adamant; it’s now or never to start a painful restructuring of the Chinese system.

 
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Former London Mayor Wins Most Offensive Erdogan Poem Contest





There was a young fellow from Ankara...  Who was a terrific wankerer...

 
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Caption Contest: Obama Unveils New Anti-Trump Weapon





Taking a page from Mario Draghi's economic savior play-book, it appears President Obama's meeting with Janet Yellen was not wasted as he seems to have found the blueprints of his own 'bazooka' and bubble-blowing machine. Perhaps the realization that Trump's success is based on Obama's fiction-peddling, the president has been forced to do "whatever it takes" ...

 
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Trump Leads Clinton Nationally For First Time In Latest Poll





Having recently tied her in a Rasmussen poll, Donald Trump is leading Hillary Clinton (by 3pts) for the first time in a national poll, according to FOX News. With a net honesty rating of negative 35, Hillary is losing by 9 points to Trump among white women but holds a stunning 83-point lead over Trump among blacks.

 
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Are Globalists Evil Or Just Misunderstood?





It really does not matter what brand of social system we implement. It really does not matter what kind of economic model we employ. It really does not matter if we somehow find a way to promote enlightened thinking on a massive scale. None of it matters if we do not also confront the organized evil of the globalist cabal. It is interesting how many people strive so hard to avoid acknowledging the fight that is coming by clinging to the notion that the globalists are “misunderstood” or “not important” in the grand scheme of things.

 
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How Is This Not Criminal: Goldman Underwrites $2 Billion Tesla Stock Offering Hours After Upgrading Stock To A Buy





Call it criminal deja vu, all over again: "Morgan Stanley and Goldman, Sachs & Co. are acting as lead joint book-running managers for the offering, with Deutsche Bank Securities, Citibank, and BofA Merrill Lynch acting as additional book-running managers."

 
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No More Twofers - Why The Vaunted "Clinton Prosperity" Of The 1990s Is A Risible Myth





"...my husband, who I will put in charge of revitalizing the economy ’cause he knows what he’s doing."

Actually, he doesn’t. In truth, it was the doing of Alan Greenspan, and not in a good way.

 
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Saudi Arabia Admits To A Full-Blown Liquidity Crisis: Will Pay Government Contractors With IOUs, Debt





Now, Saudi economic (and liquidity) problems just spilled out into the open, because Bloomberg reported moments ago, Saudi Arabia has told banks it is considering paying some outstanding bills to contractors with government-issued bonds, citing people with knowledge of matter say. Contractors would be able to hold bond-like instruments until maturity.  Bloomberg adds that issuing bonds is one of several options being considered.

 
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The Interests Of A Government In Debt Are Not Aligned With The People





Since the beginning of the year, the greenback has shown it's not almighty after all; and gold - the barbarous relic as some have called it - may be en vogue again? Where are we going from here and what are the implications for investors?

 
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British Spymaster Fears The EU Has "Run Its Historical Course"; Warns Of "Populist Uprising"





"The argument that we would be less secure if we left the EU, is in reality rather difficult to make. There would in fact be some gains if we left, because the UK would be fully master of its own house...The stakes are very high, and the UK referendum is the first roll of the dice in a bigger geopolitical game."

 
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Someone Really Wants This Market To Crash





If Goldman was surprised how many investors in the VIX ETP market disagreed with Goldman's 'low vol' call three weeks ago, it will be absolutely shocked now. Because what the charts show is that someone really wants this market to crash, and is putting their money where their mouth is.

 
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CIA "Accidentally" Deletes Only Copy Of Confidential 6,700-Page Torture Report





In a repeat of the fiascos involving the IRS' Lois Lerner, and more recently, none other than Hillary Clinton, the CIA’s internal watchdog “inadvertently” deleted its only copy of the Senate report on torture techniques employed by the agency in the wake of 9/11 – and did so while the Justice Department was insisting in court that copies were being stored.

 
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