Renaissance

Democrats Accuse Russia Of Hacking DNC Server To Help Donald Trump

"What is disturbing to us is that experts are telling us that Russians broke into the DNC, stole these emails and other experts are now saying that the Russians are now releasing these emails for the purpose of actually helping Donald Trump. I don't think it's coincidental that these emails were released on the eve of our convention here and that's disturbing."

Turkish Central Bank Pledges "Unlimited Liquidity" On Bank Run Fears: Wall Street's Take

On Friday, the Turkish Lira suffered its biggest daily drop in 8 years, and added to its woes after having lost more than 40% of its value since the end of 2012. So in an attempt to stabilize the financial system, earlier today, in a terse, 7-bullet statement, Turkey’s central bank vowed to provide "unlimited liquidity" to banks, while Deputy Prime Minister Simsek said nation’s macroeconomic foundations remain “solid.” Meanwhile, Wall Street's analysts chimed in on what they expect to happen in the coming days.

The Counter-Coup Begins: Erdogan Purges 2,745 Judges, Prosecutors; Arrests Hundreds

Last night, a poorly organized, badly planned, quasi-coup took place in Turkey which led to Erdogan further retrenching his authoritarian position in the country. This morning, the president's own "counter-coup" began with the purdhing of 2,745 judges across the country, as well as the issuance of arrest warrants for 140 appeals court members. Erdogan's path to full, authoritarian power is now open.

Jim Simons' Atomic Effort To Thwart HFT

Rigged? The issue of being front run by nanosecond HFT has now become so prevalent that Jim Simons needs his own patented atomic clock system just to protect his trade execution timing!

Bill Gates And Other Billionaires Backing A Nuclear Renaissance

The nuclear reactors of tomorrow will not only be safer than the ones we already have – which are themselves safer than many believe – they will be much more efficient. Bill Gates’ TerraPower, for instance, has designed a traveling wave reactor, which utilizes nuclear waste. Another design, by two MIT researchers, again uses waste, mixed into molten salt. In short, the nuclear reactors of the future will utilize not just regular uranium but will take care of the waste as well – the same waste that raises so much concern among environmentalists and the general public.

Following Near Record Buying Spree, Gold ETF Holding Rise Above 2,000 Tons, Highest Since 2013

Holdings in bullion-backed exchange-traded funds rose 4.1 tons to 2,001.4 tons on Wednesday, data compiled by Bloomberg show. That’s larger than the alleged gold reserves held by China (in reality China holds far more gold but it willing to only represent a fraction of its official holdings) the biggest consumer and a consistent central-bank buyer in recent months. The latest increase followed the biggest one-day gain since 2009 in the SPDR Gold Shares, the largest gold ETF.

Doug Casey On The Next Industrial Revolution

"I believe times are about to get quite rough economically and politically. But, at the same time, I’m very optimistic about what’s happening in science and technology. So let me hazard some predictions..."

Not 'The Onion' - Why Elections Are Bad For Democracy

"Elections are the fossil fuel of politics. Whereas once they gave democracy a huge boost, much as oil did for our economies, it now turns out they cause colossal problems of their own. If we don’t urgently reconsider the nature of our democratic fuel, a systemic crisis awaits. If we obstinately hold on to a notion of democracy that reduces its meaning to voting in elections and referendums, at a time of economic malaise, we will undermine the democratic process."

The Fed's Rate Hike Plans Are Now "In Tatters" - What Wall Street Thinks

Any “faint prospect” of a Fed July rate increase has entirely vanished, ING economist Rob Carnell wrote in note adding that the longstanding ING call for Sept. hike looks to be “hanging in tatters.”  Here are more comments, courtesy of Bloomberg, from Wall Steet's so-called experts, none of whom predicted the actual a Brexit outcome, about U.S. monetary policy outlook following the outcome of the U.K. referendum.

Frontrunning: June 22

  • Nervy global investors revisit 1930s playbook (Reuters)
  • Stocks Trade Near Week High Before Brexit Vote; Commodities Gain (BBG)
  • Yellen May Face Tougher Crowd in House Appearance (WSJ)
  • In SolarCity Bid, Tesla’s Musk Targets Customers Wanting All (BBG)
  • Trump to detour from campaign to visit Scotland golf properties (Reuters)

The Top 100 Hedge Funds Of 2016 According To Barron's

Here is the table of the Top 100 best performing hedge funds of 2016 ranked by their 3-year compound return, with an average return of 16.98% (ranging from 30% to 12%), outperforming the S&P's 3 year return of 15.13%.

UK Establishment Loses The Mainstream Media: "Why I Am Voting To Leave The EU"

"Stripped of distractions, it comes down to an elemental choice: whether to restore the full self-government of this nation, or to continue living under a higher supranational regime, ruled by a European Council that we do not elect in any meaningful sense, and that the British people can never remove, even when it persists in error...Americans of all people should understand why a nation may wish to assert its independence."

The "Crazy Growth In Corporate Debt" Is Finally Noticed: Bloomberg Issues Stark Warning

One does not have to be financial wizard to to know that a firm which has to borrow more than it can generate from core operations is not a sustainable business model, and yet today's CFOs, pundits and central bankers do not. But more are starting to pay attention as the corporate debt pile hits epic proportions. As Bloomberg writes this morning, when it also issued a stark warning about the next source of credit contagion, while "consumers were the Achilles’ heel of the U.S. economy in the run-up to the last recession. This time, companies may play that role."