- Clinton charities will refile tax returns, audit for other errors (Reuters)
- China Warns North Korean Nuclear Threat Is Rising (WSJ), or another country realizes war is the only "exit"
- Shares, euro sag after euro zone PMIs disappoint (Reuters)
- China Manufacturing Gauge Drops to Lowest Level in 12 Months (BBG)
- Deutsche Bank Said to Pay $2.14 Billion in Libor Case (BBG), or roughly a €20,000 per banker "get out of jail" fee
- Brazil’s Petrobras Reports Nearly $17 Billion in Asset and Corruption Charges (WSJ)
- Can This Oil Baron’s Company Withstand Another Quake? (BBG)
- Bad for Q1 GDP: Raytheon sales fall amid weak U.S. defense spending (Reuters)
"About 300 paratroopers, from the 173rd Airborne Brigade, arrived at the International Peacekeeping and Security Center, April 14 - 15, to begin a six-month training rotation with Ukrainian national guard forces."
Vladimir Putin holds his annual live Q&A event where, over the course of more than four priceless hours, the Russian President takes questions from across the country and discusses everything from foreign relations, to military might, to his sleeping habits, to not wanting to be cloned.
Confidence in the system likely hangs by a much thinner thread than is currently widely perceived. Since “risk asset” prices are soaring in much of Europe, the underlying currents of suspicion are well masked, but that certainly doesn’t mean they don’t exist. While we believe that central bank and regulatory interventions in the market are a major reason why so many bond yields have dropped into negative territory, the role played by distrust in the banking system is probably quite large as well – a suspicion that seems to be confirmed by the strength of the euro-denominated gold price.
Stan Druckenmiller's "Horrific Sense" Of Deja Vu: "I Know It's Tempting To Invest, But This Will End Very Badly"Submitted by Tyler Durden on 04/12/2015 19:45 -0400
“I just have the same horrific sense I had" before, Druckenmiller said to an audience at the Lost Tree Club in North Palm Beach, Florida (according to a transcript obtained by Bloomberg). "Our monetary policy is so much more reckless and so much more aggressively pushing the people in this room and everybody else out the risk curve that we’re doubling down on the same policy that really put us there."
The Middle East’s ongoing descent into chaos and China’s impending ascendancy to the status of global superpower are just two of the many threats that the US, European Union and Russia all share. Each of these issues should certainly occupy a higher position on their respective agendas than the breakup of Ukraine or the insolvency of Greece. Leaders of all three governments would be well-advised to set aside their differences, or at least to prevent those differences from obstructing cooperation on more important issues. Unlike its predecessor, the Second Cold War will not be bilateral. Today’s world is far more chaotic, kinetic and dangerous than it was fifty years ago.
"NATO completed the first military drills for its new rapid reaction force. From Tuesday through Thursday, more than 1,500 troops took part in exercise 'Noble Jump,' designed to test whether troops assigned to NATO’s new Spearhead Force, or Very High Joint Readiness Task Force, could be ready to deploy 48 hours after receiving an order-to-move." In other words: NATO could deploy troops to counter Russian "aggression" within 2 days.
Even before the disappointing US jobs data, we anticipated a downside correction in the dollar after a sharp advance in Q1.
World sleep walking from ‘Cold War’ to ‘Hot War’ and new World War ... It will lead to financial decimation in the coming years when the monstruous financial bubble of today eventually collapses ... and it will as sure as night follows day
Russia is once again ratcheting up the rhetoric, this time to a fever pitch. Just a day after Putin’s Security Council posted a remarkably accurate and amusingly concise assessment of US foreign policy aims on its website, a spokesman for the Russian Foreign Ministry as well as President Putin himself are out with strong condemnations of both the NATO presence in Eastern Europe as well as US plans to arm Kiev.
With Washington throwing its full faith and credit behind a new Ukrainian bond issue, it appears it’s time for Moscow to play spoiler to current debt restructuring talks between Kiev and its creditors. Russia holds some $3 billion of Ukraine's debt and doesn't think it should have to incur losses as part of any deal because Vladimir Putin is no average joe private creditor.
The German hyperinflation episode in the early 1920s is often quoted as an example of the dire consequences of excessive money printing – a leading industrial economy succumbing to the dangers of currency debasement promoted by incompetent central bankers. Alas, the reality is more complex than that, particularly when certain geopolitical and economic constraints of that time are taken into consideration. And as we shall see, we can draw some important lessons from that episode that can help us gauge the effectiveness of our very own currency debasement in the 21st century.
US Hegemony, Dollar Dominance Are Officially Dead As China Scores Overwhelming Victory In Bank BattleSubmitted by Tyler Durden on 03/25/2015 17:00 -0400
The China-led development bank essentially marks an epochal shift away from traditionally US-dominated multinational institutions like the IMF and the ADB. Meanwhile, it also represents an implicit attempt by the Chinese to usher in a kind of sino-Monroe Doctrine. The more isolated the US becomes as it relates to the new venture, the more transparent its motives seem. This was never about “standards” (the original excuse for Washington’s opposition to the bank), but rather about stifling Chinese ambition. "America seems to be confirming China’s darkest fears: it has adopted a policy of containment that is wrong in principle and has failed in practice," notes The Economist.
Where things get really scary is not only when looking at global trade volume, which is sliding, but the actual value of trade calculated in USD. It is here that the real devastation for a world whose global reserve currency is still the USD, does the recent collapse in global trade, as a result of the soaring value of the US dollar (for all the wrong reasons) become truly apparent.
After almost two centuries of political and economic meddling in Latin America under the Monroe Doctrine (1823) banner, much of it involving regime change, the US is finally coming to terms with the reality that its influence has not just waned but disappeared. To Washington’s despair, similar results, if for other reasons, are happening throughout North Africa and the extended Middle East; certainly not the results the US had hoped for or anticipated from the revolutionary wave in the Arab Spring, now entering its fifth year. The era of using regime change as a weapon of mass deception may have already ended for the United States of America… and hopefully for the entire world.