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Stocks, Sterling Rise As "Brexit" Fears Forgotten; Dollar Drops Ahead Of Yellen Speech

Tuesday's overnight price action has been a continuation of yesterday's Brexit relief rally, as investors focused on the two latest polls favorable to Remain in Thursday's referendum (while ignoring the YouGov poll which gave Leave a small lead), and hoping the doom and gloom by George Soros will convince the undecideds to vote against Leaving. As a result, global stocks continued their advance while pound extending the biggest rally since 2008.

Forget Brexit, It's The Banks Stupid!

Political instability for the EU is a significant and visible threat, but is not the immediate problem, which is financial. As a result of savings and spending imbalances, none of the core Eurozone states can stand on their own.

Is Europe Doomed By Migrants?

Most of the millions of overwhelmingly male migrants who have come to Europe in the past two years are not refugees fleeing war zones.

Greeks Send An Open Letter To UK Citizens About Brexit

Dear friends of democracy in the UK,

We want to express our solidarity as we know that you have to take a historical decision for your country and for your people, as we did last summer. On 23rd June 2016 you will have to decide in a referendum on the United Kingdom’s membership of the European Union. A referendum is a direct democratic element, the highest expression of the peoples will, a privilege and a rare opportunity in the European Union.  You have now the historical chance to mark your national independence day and stop the further transformation of Europe into a European dictatorship.

European Peripheral Bond Risk Explodes: Forget Brexit, "Now It's Italy's Turn"

If there was any doubt that Brexit was "relevant" then the surges in European peripheral bond risk, despite massive bond-buying by The ECB, should send shivers up and down the status quo huggers that are shrugging the referendum decision off because "central banks will provide liquidity." However, it's not just The UK that EU officials need to worry about, as The Globalist notes, Germany will have to change its policies if it wants to avoid exit of other countries from the eurozone.

"Deliberately Overblown" Brexit Fears Backfire

As the June 23rd BREXIT (the UK-wide referendum to leave the EU) vote draws near, the polls indicate a close result. Those urging a vote for the UK to remain inside the EU are suggesting increasingly dire economic consequences that would follow a yes vote by the British people to leave. Voices from London, Brussels, and Washington have all put immense pressure on British voters to bend to the will of the elites. To listen to their commentary one would think that apocalypse was just around the corner. But is there any substance to their warnings?

Here Is What A Work Week Looks Like For A Public Employee In Europe

If you're ever feeling overworked, and don't already live in one of these European countries, perhaps now is the time to consider relocating and finding employment in the public sector (at least while the ECB is going to monetize all of the sovereign debt that is).

Obama Administration Protectionism Goes "Nuclear" - Seeks "Total Ban" On Chinese Steel

A huge global trade war is on the horizon, regardless of whether Hillary or Trump wins the election, as the Obama administration's own protectionists are on the cusp of a “Pyrrhic victory” over China. In 2011, the US put huge tariffs on Chinese-made tires (to the detriment of consumers and the auto industry). China responded with anti-dumping tariffs on GM.

Switzerland's Gotthard Base Tunnel: Swiss Engineered, Foreign Made

We previously introduced the Gotthard Base Tunnel, the longest and deepest tunnel in the world. The 35 mile long tunnel which cuts underneath the Alps helps remove natural barriers to trade and tourism, and is undoubtedly a testament to Swiss precision engineering. However, as Bloomberg reports, the tunnel that was 17 years in the making and had workers on three shifts working around the clock to build, was built primarily by foreigners... with only 14 percent of the workers from Switzerland.

Global Stocks Unchanged; US Futures Rise Above 2,100 As Traders Celebrate Memorial Day

With the US closed for Memorial Day and UK markets also offline, overnight volumes have been weaker than normal on little newsflow. The main story remains the stronger USD which not only led to the lowest Yuan fixing since February 2011 but pushed the USDJPY as high as 111.50 overnight before paring gains. Europe’s Stoxx 600 is unchanged on poor volume, after earlier rising above the 200 DMA for the first time in 2016. US equity futures were 0.2%, or 4 points higher, currently resting just above 2,101 with the last trading day of May tomorrow expected to push the cash market over 2,100 as well.

The Global Bear Market In Freedom

Americans will be celebrating Memorial Day this weekend, to honor those who fought and died for the values they have traditionally cherished the most as a nation: life, liberty and the pursuit of happiness. The world has changed dramatically in recent decades. The geopolitical situation is much more complex, with rising powers challenging America's supremacy. The intractable war on terror seems interminable. Old foes appear to spring back to life even more powerful than before. And things at home look dicey in terms of politics and economics. As we reflect upon the ultimate sacrifice that others have made‎, it is an opportune moment to consider a very important question: is the US winning the fight for freedom?

Sweden: Is Islam Compatible With Democracy?

It is not a secret that democracy can be used to abolish democracy. It may have finally begun to dawn on the people that Swedish Sweden will soon be lost forever, and in many areas replaced by a Middle Eastern state of affairs, where different immigrant groups (mainly Muslims) make war on each other as well as on the Swedes. There is no country where Islam is dominant that can be considered a democracy with freedom of speech and equal justice under law.

The Looting Stage Of Capitalism Begins: Germany's Assault On The IMF

Greece is being destroyed by the EU that it so foolishly joined and trusted. The newspaper headlines are nothing but fluff that provide cover for the IMF to succumb to presssure and violate its own rules. The cover lets the IMF say that a (future unspecified) debt writedown will enable Greece to service the remainder of its debt and, therefore, the IMF can lend Greece the money to pay the private banks. To call the looting of a country and its people a “bailout” is Orwellian.  The brainwashing is so successful that even the media and politicians of looted Greece call the financial imperialism that Greece is suffering a “bailout.”