Barclays

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HSBC Bank: Secret Origins To Laundering The World's Drug Money





Contrary to popular opinion, it is not “demand” from the world’s population which creates the mind destroying drug trade. Rather, it is the world financial oligarchy, looking for massive profits and the destruction of the minds of the population it is determined to dominate, which organized the drug trade. The case of HSBC underscores that point. Serving as the central bank of this global apparatus, is HSBC.

 
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Frontrunning: February 12





  • 'Glimmer of hope' for Ukraine after deal at Minsk peace summit (Reuters)
  • Ruble Rebounds, Russian Stocks Surge on Ukraine Cease-Fire Deal (BBG)
  • Greek PM Tsipras in Brussels as clock ticks on EU bailout (Reuters)
  • Emerging-Market Currencies Rout Not Over for Traders (BBG)
  • Little noticed, new Saudi king shapes contours of power (Reuters)
  • In Wake of Financial Crisis, Goldman Goes It Alone (WSJ)
  • AmEx Is Losing Its Millionaires (BBG)
  • Thousands to Lose Health Insurance Over Residency Questions (WSJ)
 
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If You Listen Carefully, The Bankers Are Actually Telling Us What Is Going To Happen Next





Are we on the verge of a major worldwide economic downturn? Well, if recent warnings from prominent bankers all over the world are to be believed, that may be precisely what we are facing in the months ahead.

 
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Frontrunning: February 10





  • Greek defense minister says Greece has Plan B if EU rigid on deal (Reuters)
  • Germany rejects Greek claim for World War Two reparations (Reuters)
  • Greece to Seek $11.3 Billion in Financing to Avoid Funding Crunch (BBG)
  • Lazard Sees $113 Billion Greek Debt Cut as ‘Reasonable’ (BBG)
  • U.S. Navy Considers Setting Up Ship Base in Australia (BBG)
  • Dalio’s Bridgewater Fund Said to Rise 8.3% in January (BBG)
  • As U.S. Exits, China Takes On Afghanistan Role (WSJ)
  • EU money funds cut exposure to bank debt (FT)
  • China Inflation Drops to Five-Year Low in January (WSJ)
  • Oil-Price Rebound Predicted (WSJ)
 
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Frontrunning: February 9





  • Greek Risk Draws Global Concern on Lehman Echo Warnings (BBG)
  • Merkel to urge caution in U.S. as pressure builds to arm Ukraine forces (Reuters)
  • West Races to Defuse Ukraine Crisis (WSJ)
  • German-French Push Yields Ukraine Summit Plan With Putin (BBG)
  • Swiss Leaks lifts the veil on a secretive banking system (ICIJ)
  • Italy Lenders Seen Cleansing Books Amid Bad-Bank Plans (BBG)
  • G-20 Finance Chiefs Face Tough Test in Istanbul (WSJ)
  • Demand for OPEC Crude Will Rise This Year, Says Group (WSJ)... or rather prays
  • U.S. Banks Say Soaring Dollar Puts Them at Disadvantage (WSJ)
 
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Frontrunning: February 6





  • RadioShack files for bankruptcy; Sprint to take over some stores (Reuters)
  • Kansas To Issue Bonds and Invest Proceeds to Boost Pension Returns (WSJ)
  • Merkel to Make Last Push With Putin as Pessimism Prevails (BBG)
  • Islamic State in Syria seen under strain but far from collapse (Reuters)
  • Texas Swagger Fades Fast as Oil Town Squeezed Hard by OPEC (BBG)
  • SEC probes Blackberry options trading ahead of Reuters report about Samsung talks (Reuters)
  • Spanish Bonds Underperform Italy’s as Podemos Gains Popularity (BBG)
  • Steelworkers Union Rejects Offer From Refiners (WSJ)
  • Brazil January Inflation at Fastest Pace in Nearly 12 Years (BBG)
 
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Frontrunning: February 4





  • Arab World Unites to Condemn ‘Barbaric’ Death of Jordanian Pilot (BBG)
  • Jordan hangs two Iraqi militants in response to pilot's death (Reuters)
  • As Oil Prices Climb, Some Harbor Doubts (WSJ)
  • Taiwan plane cartwheels into river after take-off, killing at least 19 (Reuters)
  • Seven dead as commuter train hits car near New York City (Reuters)
  • Apollo’s 600% Profit on Oil Company Leaves Rivals Behind (BBG)
  • Greece's rock-star finance minister Yanis Varoufakis defies ECB's drachma threats  (Telegraph)
 
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S&P Downgrades Numerous European Banks, Warns Deutsche Bank May Be Next





Just hours after apparently settling its suit with the USA (not at all retaliation for downgrading them), S&P has taken the big red marker out on a slew of European banks:

  • Downgrades: Credit Suisse, Barclays, Lloyds, Bank of Scotland, RBS, HSBC, and Ulster Bank
  • On Watch Negative: Raiffeisen Zentralbank, MBank, Unicredit, Commerzbank, and Deutsche Bank

The driver of the shift in perspective is the apparent removal of the 'bailout put', as the prospect of "extraordinary government support" appeared less likely under recently passed bail-in legislation.

 
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Frontrunning: February 3





  • RBA cuts interest rates to record low of 2.25% (SMH)
  • RBI keeps rates on hold (Reuters), India allows banks flexibility on big projects to reboot growth (Reuters)
  • BP slashes capital spending by 20% (FT)
  • Greek Retreat on Writedown May Move Fight to Spending (BBG)
  • Rosneft accounting move helps BP beat profit forecast (Reuters)
  • Amazon in Talks to Buy Some of RadioShack's Stores (BBG)
  • Behind Obama's budget proposals, a gloomy view of the future (Reuters)
  • How the Justice Department, S&P Came to Terms (WSJ)
  • Staples, Office Depot in Advanced Talks to Merge (WSJ)
 
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Frontrunning: February 2





  • Germany Sees No Need to Scrap Troika in Overseeing Greek Turnaround (WSJ)
  • European markets subdued as Chinese data weighs (Reuters)
  • U.S. Oil Workers Strike Enters Second Day as Crude Prices Slide (BBG)
  • Oil prices rally above $55 as investors pile in (Reuters)
  • Obama Wants a New Tax on U.S. Companies' Overseas Profits (BBG)
  • If Trading Bonds Is Hard, Think About Pain When Rates Rise (BBG)
  • Julius Baer Braces for Swiss Franc Impact (WSJ)
  • Coke, Budweiser win as Super Bowl ad battle gets serious (Reuters)
 
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Frontrunning: January 30





  • Falling Prices Spread Pain Far Across The Oil Patch (WSJ)
  • ISIS Group Claims Responsibility for Attacks That Killed 27 in Egypt (NBC)
  • Russia Unexpectedly Cuts Key Rate as Economy Eclipses Ruble (BBG)
  • Greece’s Feisty Finance Minister Tries a More Moderate Message (NYT)
  • U.S. homeownership hits 20-year low, but new households growing (Reuters)
  • Indian Banks’ Shares Plunge as Bad-Loan Provisions Surge (BBG)
  • Underground Terror Network Said to Benefit Would-Be Jihadists in Europe (WSJ)
  • Russia warns West support for Kiev could lead to 'catastrophe' (Reuters)
 
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"The Thread By Which Venezuelan Socialism Hangs May Soon Snap"





Say you are a socialist, and you have intervened heavily in the economy. Suddenly, things don’t work as you thought they would. Somehow, economic laws seem to refuse to bend to your will. However, you cannot really believe that since according to your convictions, wealth is a byproduct of government plans and decrees. So the solution to the unintended consequences of the initial intervention is to intervene further, in an attempt to refine the plan, so to speak. So you try again. And again. And again. Chances are, your name is Nicolas Maduro. In summary, the thread by which Venezuelan socialism hangs may soon snap.

 
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Frontrunning: January 28





  • Fed seen remaining patient with rate guidance amid global turmoil (Reuters)
  • National Weather Service apologizes for blizzard forecast miss (CBS)
  • Greek PM Tsipras pushes on with radical change, markets tumble (Reuters)
  • Obama Drops Plan to Raise Taxes on ‘529’ College Savings Accounts (WSJ)
  • Hard Choices on Easy Money Lie Ahead for Fed Chief (Hilsenrath)
  • Debt That Once Boosted Its Cities Now Burdens China (WSJ)
  • Skymark Said to File for Bankruptcy After Airbus Deal Flops (BBG)
  • Heavy Fighting Drains Ukraine Government’s Options and Finances (WSJ)
 
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Frontrunning: January 26





  • Alexis Tsipras: the Syriza leader about to take charge in Greece (Guardian)
  • Tsipras to form anti-bailout Greek government after big victory (Reuters)
  • Tsipras Forges Anti-Austerity Coalition in EU Challenge (BBG)
  • East Coast braces, flights canceled as 'historic' blizzard bears down (Reuters)
  • Rebels press Ukraine offensive, Obama promises steps against Russian-backed 'aggression (Reuters)
  • Syriza Victory Brings Hope for Immigrants of EU Access (BBG)
  • For Saudis, Falling Demand for Oil Is the Biggest Concern (BBG)
  • Oil prices fall on market relief over Saudi policy (Reuters)
 
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When BTFD Fails: Spot The Oil ETF "Knife Catchers"





With crude oil prices once again testing cycle (multi-year) lows this morning - following a brief bounce on the death of Saudi King Abdullah - we thought it intriguing that for the 4th month in a row fund flows into the iPath Oil ETN have surged to almost six year highs. As Bloomberg Briefs reports, "the kind of flows that we're seeing can only be explained by 'catch the falling knife' behavior, where people are trying to call the bottom," as December and Jnauary flows now top $400 million - the most in 6 years for a 2-month period (as price plummet further). But 'investors' are piling into double- and triple- levered "up" oil bets too...

 
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