• Phoenix Capital...
    07/03/2015 - 20:26
    Greece just took a hit… and once again it’s depositors that will take it on the chin. But this process is only just begun. Similar Crises will be spreading throughout the globe in ...

China

China
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China Dumps Record $120 Billion In US Treasurys In Two Month Via Belgium





After a record $92.5 billion drop in March, "Belgium" sold another $24 billion in April, bringing the total liquidation to a whopping $116.4 billion for the months of March and April. This means that after adding mainland China's token increase of $2 billion in April after a $37 billion increase the month before, net of Belgium's liquidation China has sold a record $77 billion in Treasurys in the most recent two months.

 
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Happy 800th Birthday Magna Carta: A Tax Revolt Against Government Abuse





As with all historical events, you must always understand the context of the era in which an event takes place. True, King John (1166–1216) was forced to sign the Magna Carta on June 15, 1215 at the demands of the elite barons. The reason for that was rather important – the common man was not taxed, only the rich. At the core of this entire issue was a tax revolt over the abuse of government.

 
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Frontrunning: June 15





  • Tsipras Hardens Greek Stance After Collapse of Talks (BBG)
  • Obama Fights to Save Trade Bill (WSJ)
  • German Stock Market Pain Seen Just Beginning Should Greece Exit (BBG)
  • Russia to boost forces in western flank if U.S. stations arms in east Europe (Reuters)
  • Lab Nears Settlement Over Pricey Medicare Drug Tests (WSJ)
  • China's $358 Billion in Margin Loans Points to Next Bear Market (BBG)
  • Draghi Faces EU Court Ruling on 2012 Bond Plan as Greece Teeters (BBG)
  • Sex, lies and debt potentially exposed by U.S. data hack (Reuters)
 
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Snowden, Putin, Greece: It’s All The Same Story





The narrative being sold through the media is that Greece is to blame, that German taxpayers are on the hook for Greek debts (while they’re really on the hook for German banks’ losing wagers). And that is, no matter how you twist it, not the same story. It’s again just a narrative. Brussels is toxic - and so is the IMF - and Greece should leave as soon as possible, as should Italy, Spain, Portugal. We should all resist the spin-induced attempts to demonize Putin, Athens and China any further, and instead focus on the rotten apples in our own basket(s). In short, the propaganda we should be worried about is not Russia’s, it’s our own. And it comes from just about every news article we’re fed. We’re much less than six degrees removed from Orwell.

 
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Euro & Stocks Maintain Losses Before EU Open As China Market Cap Tops $10 Trillion For 1st Time Ever





The total market capitalization of China's stocks is now over 40% the size of the US stock market and topped $10 trillion for the first time in history. This represents at 8-fold increase in Chinese market cap since Lehman. But after that initial pop, Chinese stocks are weak too. Meanwhile in other markets the EUR is notably lower against the JPY and USD but appears to be protected from a plunge for now hovering at 138.40 and 1.1200 respectively after the Greek Deal failure news. US equity futures are tumbling, down 9 points but off the initial lows for now.

 
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How Obama's "Trade" Deals Are Designed To End Democracy





The world is already almost completely fascistic. The fact that these ‘trade’ deals are being pushed right now, means that the people who are in power have concluded that, already, ‘the free world’ is so dictatorial, that the chances that their plan can now be imposed globally are about as good as is likely ever to be the case again. The time is ripe for them to establish a global corporate dictatorship. The political money this year will be flowing like never before.

 
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"Cornering The Earth" - How The Rothschilds "Controlled At Least One Third Of Global Wealth" Over 100 Years Ago





"Let us control the money of a nation, and we care not who makes its laws"

- the maxim of the house of Rothschild and is the foundation principle of European banks (source).

 
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UK Said To Withdraw Spies After Russia, China Hack Snowden Encryption, Sunday Times Reports





Perhaps just to make sure that the fear level spread by the Department of "Developed Market" Fear hits panic level promptly, overnight the UK's Sunday Times reported via Reuters, "citing unnamed officials at the office of British Prime Minister David Cameron, the Home Office (interior ministry) and security services" that Britain has pulled out agents from live operations in "hostile countries" after Russia and China cracked top-secret information contained in files leaked by former U.S. National Security Agency contractor Edward Snowden.

 
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The "Global Macro Investor" - An Interview With Raoul Pal





"We have a problem with this, and that is central bank hubris. They now think that they are omnipotent, because, essentially the government has said we are going to pass over all control of the economy to the central banks, they say to everybody else including financial market participants that “you don’t know, you don’t understand, we have our models and they are right”. And that kind of hubristic approach is when you sow the seeds of your own destruction."

 
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The Warren Buffet Economy, Part 4: Why Its Days Are Numbered





After 27 years, honest price discovery has been destroyed, thereby reducing the nerve centers of capitalism - the money and capital markets - to little more than gambling casinos. Accordingly, speculative rent-seeking in the financial arena has replaced enterprenurial innovation and supply side investment and productivity as the modus operandi of the US economy. This has resulted in a severe diminution of main street growth and a massive redistribution of windfall wealth to the tiny share of households which own most of the financial assets. Warren Buffett’s $73 billion net worth is the poster boy for this untoward state of affairs. The massive and systematic falsification of asset prices which lies at the heart of this deformation of capitalism is a direct and unavoidable consequence of monetary central planning.

 
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Why Keynesian Voodoo Doesn't Work?





Keynesian policy of manipulating economic “aggregates” through countercyclical macro-measures appeared to work when balance sheets were not stretched to the brink. The glaringly obvious result of such policies, gross capital consumption through malinvestments epitomized through a serial bubble economy, did not discourage our money masters. The best and brightest even suggest bubbles are the only remedy to what they believe is some sort of secular stagnation. Just as drugs, the abuser must increase the dosage to feel the same high and spend accordingly.

 
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American Dreaming - From G1 To Bilderberg





What’s the connection between the G7 summit in Germany, President Putin’s visit to Italy, the Bilderberg club meeting in Austria, and the TTIP – the US-EU free trade deal – negotiations in Washington?

 
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"New Silk Road" Part 3: Challenges, Rivalries, & Prospects For Success





In Part 1 of “The New Silk Road,” we examined the China’s plan for rebuilding the silk road, stretching from Europe to Asia. In Part 2, we looked at currently proposed projects, and what could stall and hamper progress. In Part 3, we examine the geopolitical rivalries, prospects for success, and investment implications.

 
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