• Pivotfarm
    05/21/2015 - 16:48
    Janet Yellen at the Federal Reserve believes that the partying on Wall Street and in the financial institutions may “lead to trouble”.
  • EconMatters
    05/21/2015 - 13:17
    The 2nd tallest building in the world, Shanghai Tower, will open to the public mid 2015 during a time when China's own economy is going through the darkest period in recent years.     

Dubai

EconMatters's picture

Is China Under The Skyscraper Curse?





The 2nd tallest building in the world, Shanghai Tower, will open to the public mid 2015 during a time when China's own economy is going through the darkest period in recent years.     

 
Pivotfarm's picture

10 Most Expensive Cities in the World





London’s property market is still hell bent on going crazy as if it has overeaten and become over inflated yet again.

 
Tyler Durden's picture

Saudis, Russians No Longer Buying Gold In Dubai As Oil Slump Curbs Precious Metals Shopping





“The market is dead,” one industry insider tells Bloomberg, referring to demand for tax-free physical gold in Dubai. As it turns out, the ill-effects of sliding crude prices aren't confined to Alberta's housing market, cash-strapped oil boom towns and the market for blue collar jobs in Texas. The pain is also being felt by gold vendors who are quickly discovering that when oil revenue begins to run short, fewer Saudis and Russians go on precious metals shopping sprees.

 
Tyler Durden's picture

Frontrunning: April 30





  • Marchers protest police violence in Baltimore, New York (Reuters)
  • Majority of Financial Pros Now Say Greece Is Headed for Euro Exit (BBG)
  • Greece signals concessions in crunch talks with lenders (Reuters)
  • Greece, Euro-Area Partners Target Deal by Sunday (BBG)
  • Iglesias Says EU Risking Right-Wing Backlash With Greek Pressure (BBG)
  • Student-Loan Surge Undercuts Millennials’ Place in U.S. Economy (BBG)
  • Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? (WSJ)
 
Tyler Durden's picture

Gold-Backed SDR "Is Quite Likely To Happen", LSE's Lord Desai Warns





As many are increasingly coming to terms with the 'obvious failure of fiat currency', the inevitavble question arises "what next?" Earlier this year, we discussed the possibility of a Chinese- or Russian-currency backed by gold, amid the increasing calls (domestically and abroad) for an end to USD Reserve hegemony; but this weekend, as Bloomberg reports, Lord Meghnad Desai, chairman of The Official Monetary and Financial Institutions Forum, stated that IMF Special Drawing Rights (SDR) should contain some gold to help stabilize the currency.

 
Tyler Durden's picture

Saudi Arabia's Kingdom Tower - The Pointless Hubris Of A Decadent Tyranny





Behold the proposed new Kingdom Tower for Jeddah, Saudi Arabia — at one full kilometer in height, about twice the size of New York’s new Freedom Tower.

 
Tyler Durden's picture

The "Billionaire Hubs" - A Look At The Housing Habits Of The World's Ultra Richest People





When it comes to our current pre-war, pre-revolutionary world (in Paul Tudor Jones' words) there are two social classes which are jockeying for the post positioning when it all comes crashing down: the Ultra High Net Worth, i.e., the 0.01%, those 211,275 individuals (and their families) who have a net worth over $30 million and who collectively control $30 trillion in wealth, and everyone else, with the countdown to extinction for the global middle class now getting louder by the day, leaving a world of a handful of uber-wealthy oligarchs and billions of, well, others. And nowhere is this distinction more vivid than when looking at their residential real estate holdings. But while the real estate of the 99.99% is boring (and increasingly in the form of rentals), when it comes to the dwellings of the 0.01% things get exciting, and are the topic of the latest joint report between Wealth-X and Sotheby's whose findings we summarize below.

 
Tyler Durden's picture

Futures Tumble As Yemen War Starts; Oil, Gold Surges





In a somewhat surprising turn of events, this morning's futures reaction to last night's shocking start of a completely unexpected Yemen proxy war, which has seen an alliance of Gulf State launch an air, and soon land, war against Yemen's Houthi rebels, is what one would expect: down, and down big. This is surprising, because on previous occasions one would expect the NY Fed, or its pet hedge fund, Citadel, or the BOJ or ECB (via the CME's "Central Bank Incentive Program") to aggressively buy ES to prevent a slide, something has changed, and for the BTFDers, that something may be very fatal with the e-Mini rapidly approaching a 1-handle yet again. The offset to tumbling stocks, as previously observed, is oil, with WTI soaring over 6% in a delayed algo response to the Qatar headlines.

 
GoldCore's picture

Gold Price to Double to Over $2,400 Per Ounce - Demand in Asia to Double in “Asian Century”





“Most of the time you don’t want to pay for it. But if you need it, you’re glad you have it ...”

 
Tyler Durden's picture

WTI Slumps To New Cycle Lows As Iran Supply Fears Loom





Just a few short days ago we were the first to bring attention to the potential of an Iran nuclear deal being a catalyst for the next big leg lower in the energy complex and sure enough, not only is the market startuing to leg lower in a hurry as the deadline looms, but the mainstream media is catching on too. WTI hit fresh cycle lows this morning at $42.63 with the contango continuing to surge.

 
Tyler Durden's picture

Is This The Catalyst For The Next Big Leg Down In Oil Prices & Energy Stocks?





There is a possibility of a nuclear deal being agreed between the P5 + 1 nations and Iran next Friday, 20th March. This may be the precursor for energy stocks to recouple to downside and for spending cuts to spread from capex to dividends for majors.

 
Tyler Durden's picture

North Korean Diplomat Caught Smuggling 27 Kilos, Or $1.7 Million, In Gold





To some, gold is merely a tradition; to others, such as the first secretary of the North Korean embassy in the capital of Bangladesh, it is one of the easiest ways to smuggle $1.7 million. Or at least should have been on paper. Instead, what happened on Thursday night when Son Young-nam landed in Dhaka on a flight from Singapore, carrying a ridiculous amount of physical gold and hoping to get through customs without a glitch due his diplomatic status, things went downhill fast after Young-nam's baggage was searched and almost 27 kilos, or 59 pounds, of gold bars and ornaments were recovered.

 
Tyler Durden's picture

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.

 
Tyler Durden's picture

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)
 
Tyler Durden's picture

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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