• GoldCore
    09/04/2015 - 07:43
    Large pools of gold in indebted nations will be vulnerable. Pool accounts, digital gold bullion vaulting providers and depositories in the UK and the US might have their companies and assets...
  • Sprott Money
    09/04/2015 - 05:58
    It can't continue indefinitely, and there has to be a terminal point, and I think obviously we're much closer to that.

Iran

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Frontrunning: September 4





  • Jobs Report Could Seal the Deal on Rates (WSJ)
  • The Jobs Report and the August Curse: Jobs Day Guide (BBG)
  • Migrants hold out on Hungarian 'freedom train'; Orban says millions coming (Reuters)
  • Migrant Crisis Divides Europe (WSJ)
  • German industry orders fall in July on weak foreign demand (Reuters)
  • Alibaba’s Jack Ma, Joe Tsai to Borrow $2 Billion Against Shares (WSJ)
  • U.K. Retailers Post Worst Sales Decline Since Financial Crisis (BBG)
 
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Oil Triple Whammy: Inventory Build, Iran Nuke Deal Has Votes, & China Gives Venezuela $5 Billion Loan





Following last night's epic inventory build., according to API, DOE has reported a 4.7mm barrel build but US crude production pluinged 1.4% (lowest since March). However, ths oil complexc has been hit by two other 'issues' this morning as Obama captures the votes he needs to confirm the Iran nuclear deal (guaranteeing more oil supply) and China encumbers more Venezuelan oil ($5bn loan) allowing them to keep pumping at below-cost levels. The reaction for now is notable selling pressure...

 
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Frontrunning: September 2





  • Markets on edge as policymakers flex muscles (Reuters)
  • European shares recover from rough ride (Reuters)
  • For Stock Markets, the Moment When Humans Matter (WSJ)
  • Puerto Rico's PREPA, bondholders have framework for deal (Reuters)
  • Hundreds of migrants protest at Budapest station, want to go to Germany (Reuters)
  • New Whale Seen Moving Tokyo Markets (BBG)
 
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Surprise! 125 Classified Exchanges Show Up In Latest Clinton E-mail Dump





The latest set of Clinton e-mails released by the State Department reveals another 125 exchanges that contain classified information, establishing further (for anyone who still had doubts) that sensistive information was indeed transferred over Clinton's home e-mail server and leading to two rather obvious questions: 1) will Clinton be held accountable?, and 2) will her campaign be able to hold the 2016 Presidential bid together amid a rising tide of public mistrust?

 
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Saudi Arabia's Stock Market Just Logged Its Worst Month Since Lehman





"A cloudy fiscal policy along with unattractive economic data and oil prices continuing to decline fueled negative sentiment about the market which exaggerated fears among investors."

 
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China Dramatically Intervenes To Boost Stocks Despite Reports It Won't; US Futtures Slump On J-Hole





Yesterday, the FT triumphantly proclaimed: "Beijing abandons large-scale share purchases", and that instead of manipulating stocks directly as China did last week on Thursday and Friday, China would instead focus on punishing sellers, shorters, and various other entities. We snickered, especially after the Shanghai Composite opened down 2% and dropped as low as 4% overnight. Just a few hours later we found out that our cynical skepticism was again spot on: the moment the afternoon trading session opened, the "National Team's" favorite plunge protection trade, the SSE 50 index of biggest companies, went super-bid and ramped from a low of 2071 to close 140 points higher, ending trading with a last minute government-facilitated surge, and pushing the Composite just 0.8% lower after trading down as much as -4.0%.

 
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Did The Fed Intentionally Spark A Commodity Sell-off?





...one theory is that some within the Fed realized that QE wasn’t working, and never worked, thus another path was needed. But what alternative did they have, since rates were already ZERO? So maybe they changed course and took a strong dollar policy vs. a weak one to intentionally weaken the commodity sector and thus boost consumer spending. Throughout this down turn, that message has been repeated by Yellen herself many times, as a source of economic stimulus and for sure has been repeated over and over in the media and the talking heads of Wall Street.

 
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US Falls Behind Canada, Finland, And Hong Kong In Human Freedom Index





The United States lags far behind other developed countries in terms of personal, civil and economic freedoms, according to a study released this month. Its neighbor to the north, for example, ranked 14 spots ahead of the so-called “Land of the Free.”

 
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Oil Surges To $45 After Saudi Troops Invade Yemen





For the 3rd day in a row, crude oil prices are spiking as the short squeeze morphs into a war premium. Heberler reports that Saudi ground troops have entered Northern Yemen and seized control of two areas in the Saada province. WTI is now above $45...

 
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China Surge Continues, Futures Slide As Jittery Market Looks For Jackson Hole Valium





Overnight's start attraction was as usual China's stock market, where trading was generally less dramatic than Thursday's furious last hour engineered ramp, as stocks rose modestly off the open only to see a bout of buying throughout the entire afternoon session, closing 4.8% higher, and bringing the gain over the last two days to over 10%. This happens as China dumped a boatload of US paper to push the CNY higher the most since March, strengthening from 6.4053 to 6.3986, even as Chinese industrial profits tumbled 2.9% from last year: this in a country that still represents its GDP is rising by 7%. Expect much more Yuan devaluation in the coming weeks.

 
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Guest Post: The Donald Exposed (A Reality Check For Trumpeteers)





It’s all emotional bullshit because what one hardly ever reads about from these Trumpeteer Marionettes is an actual discussion about Trump on the issues. It’s more important to squeeze out yet another orgasmic fountain of joy because he threw out some Univision reporter; “Oh, look! Isn’t zee Donald just Wunderbar!!” Screw that. So, let’s look at what The Donald believes... by his own words.

 
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Western Democracy Is An Endangered Species On Its Way To Extinction





Just as the Roman Empire ended in the destruction of the Roman people, the American Empire will end in the destruction of the American people. Judging from histories, Roman citizens were superior to American citizens; yet, Rome failed. Americans shouldn’t expect any other outcome. The price to be paid for insouciance, self-satisfaction, and complicity is high.

 
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