On the 1st January 2018 the ECB bail-in tool will be two years old. That's right just over two years ago the ECB decided that it was better to force the financial burden of banks' failures away from the state and instead onto bondholders and creditors i.e. those with money in the bank.
Goldman Sachs warned on Friday that it expects a $5 billion hit to Q4 earnings as a result of tax reform signed by President Donald Trump last week, approximately two-thirds of which is due to the repatriation tax.
"At the current pace Russia will pass China in global gold holdings and take the sixth position within the first 2-3 months of 2018... This simply shows how aggressive Russia is towards acquiring gold. "
The stories coming out from Chicago and Baltimore paint an increasingly pessimistic picture: that America’s inner cities are transitioning into a war zone, where violence has returned to levels not seen since the drug wars of the early 1990s.
"When growth is not very inclusive, things start to break. They break economically, they break socially, they break politically, and they break financially. In order to say that the New Normal will last another five years, you have to say that these breakages won’t matter, but they do matter."
U.S. equity futures point to a higher open in the second to last trading day of 2017 as the dollar slid against most major currencies, headed for its worst year in more than a decade as oil, gold and most industrial metals rise.
" The era of the petro-yuan is at hand... Crucially, this is not about reducing currency risk... This is about the implementation of a huge, new alternative reserve currency zone, bypassing the US dollar..."
Last month the average maturity of all German bond purchases by the ECB bond plunged below 4 for the first time ever, or just 3.98 years, the lowest on record. This confirms that the ECB is actively reducing the amount of German Bunds it is buying and suggests that the ECB has almost run out of eligible German bonds to buy.
How the Clintons intervened to get a child sex trafficker off the hook in Haiti. The mainstream media either ignored the discovery or tried to cover it up.
"China is imposing fresh controls to prevent too much money from leaving the country, in an effort to keep badly needed funds at home to battle a deepening slowdown in the world’s No. 2 economy." This is undsiputedly bad news for China, but Blythe Masters would be the first to admit, escalating Chinese capital controls would be just the thing bitcoin needs to surge, and surpass, it previous all time highs...
