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Articles by Bendromeda Strain
Goldman: "Yellen Remarks Point To Higher Odds Of September Hike", Market Disagrees
With pundits unable to decide if Yellen's speech was hawkish or dovish, we need a tiebreaker, and as always the best one is the bank that has spawned more central bankers than any other institution, Goldman Sachs. As such, according to the just released analysis of Goldman's Jan Hatzius, the Fed speech "raised the odds of a rate increase at the September FOMC meeting," but he adds that "any action will depend on the result of next week's jobs report.
French Terror Suspect Named As Mohamed Lahouaiej Bouhlel, A "Well-Known" Tunisian Criminal
Now that the initial shock of the Nice Bastille Day terror attack which claimed at least 84 lives has passed, and the investigation into the causes and motives behind the latest tragic mass killing has begun.
US Treasury Yields Hit New Record Lows
Finally. With bond yields across the rest of the developed world already making new record lows every day, only the US had so far refused to take out all time lows set back in 2012. That finally changed overnight when the 10Y Treasury dropped -9 bps to 1.3784%, while the 30Y declined by the same amount, sliding as low as to 2.1914%.
Follow The Yellow Brick Road
Submitted by Jeff Thomas via InternationalMan.com, For over a hundred years, it’s been theorised that author L. Frank Baum wrote his 1900 book, “The Wonderful Wizard of Oz”, as a fanciful way to explain the economic situation at the time and that the Yellow Brick Road was a reference to the path created by gold ownership. Whether or not the theory is correct, for many people today, “Follow the Yellow Brick Road” might serve as a mantra for alleviating economic woes.
Next Time Someone Says Nothing Is Made In The USA Anymore, Show Them This
Submitted by JP Sottile via TheAntiMedia.org, Who says nothing is made in the USA anymore? Certainly not the well-heeled denizens of the State Department’s diplomatic corps. And they should know. That’s because they’re stationed on the frontlines of the ongoing battle to preserve Uncle Sam’s dominant market share of the global weapons trade.
Higher Wages For The Workers Help EVERYONE
Much of what is known as “economic theory” is gibberish. It is propaganda, implanted into the minds of academics for one reason: to preserve the status quo of always favoring the (very) wealthy over all other members of the population. The facets of economic doctrine which are valid, are valid because they do little more than express principles of simple arithmetic and common sense. “Supply and demand” is just simple arithmetic and common sense.
"I Am Not Your Experiment" - Thousands Around The World Protest GMO Giant Monsanto
A little over a year ago, GMO giant Monsanto was furious at the World Health Organization for linking glypshophate, the chief ingredient in weed killer Roundup, to cancer. As a result Monsanto immediately demanded that WHO retract said report, saying that the report was biased and contradicts regulatory findings that the ingredient, glyphosate, is safe when used as labeled.
How Is This Not Criminal: Goldman Underwrites $2 Billion Tesla Stock Offering Hours After Upgrading Stock To A Buy
Call it criminal deja vu, all over again. Back in February 2014, just hours after Morgan Stanley shocked the market with an upgrade of Tesla which had a price target over 100% higher than the existing price, Morgan Stanley revealed it also happened to be the underwriter on a $1.6 billion convertible bond offering for Tesla.
The Necessity of Human Action
In 1987, Levon Helm, a former cotton farmer from Arkansas, sat brooding in his yard, trying to describe why his apparent success had turned to near-bankruptcy: “Well, it’s hard to put your finger on. You get behind financially and once you get behind financially, you seem to get behind spiritually. And your luck turns against you.” Levon’s perception of his situation is a common one.
"If This Goes Well, I'll Use It At Goldman Sachs Next Year" - Obama Mocks Everyone At His Final "Nerd Prom"
In his final address to the White House correspondents dinner also known as "nerd prom", Obama embraced his last chance at a snarky, hyperbolic, comic monologue and used the stage to unleash a series of one-liners at 2016 presidential candidates in both parties, the media and his own career as president. "It is an honor to be here at my last, and perhaps the last, White House Correspondents' dinner," he said as he took the podium. "You all look great.
Oil's Latest Casualty: Saudi Binladin Group Fires 50,000 Workers, A Quarter Of Its Workforce
In the latest clear sign that low oil prices are taking their indirect toll not only the US shale sector, leading to billions in capex cuts and hundreds of thousands of lost oil and gas jobs, on Friday Saudi newspaper al-Watan reported that the multinational construction conglomerate Saudi Binladin Gropu (which was founded in 1931 by Sheikh Mohammed bin Laden Sayyid, father of Osama bin Laden who was removed as a shareholder in the business in 1993 and disowned by the family) has laid off...
Weekend Reading: Yep... Still Looks Like A Trap
Last week, I noted technical breakout of the market above the downtrend line from last May, such a move required an increase in exposure to equity risk. To wit: I also stated that it was probably a trap and that I will be stopped out in fairly short order. But that is the risk of managing money. Well, since then the markets have gone, as of this writing, roughly nowhere as the market traded between roughly 2075 and 2100 all week. However, the following chart is what has me worried.
Stocks Stumble As Silver Soars Into Bull Market, Dollar Hits 10-Month Lows
We get the clear impression today that we heard this from the depths of The Eccles Building... As earnings offer little to no support whatever here.... This was the worst day for FANG stocks in 6 weeks - NFLX was crushed on weak growth expectations, (and non-FANG TSLA tanked on Consumer Reports questioning quality of Model X)... Which explains Nasdaq's considerable underperformance... (back into the red for the week) It was all about S&P 2,100 and Dow 18,000 again today...
Major Earthquake Hits Japan, Strongest Since 2011; At Least 10 Houses Collapse, Suga Urges "Calm"
Just over 5 years since the massively destructive 2011 Japanese earthquake which unleashed a tsunami and led to the Fukushima disaster, moments ago NHK reported that Japan's Kumamoto region had been hit with another quake which had a Shindo shaking intensity of 7 and registered a magnitude of apprxoimately 6.4. According to the Japanese media this is the strongest quake to hit Japan since the 2011 earthquake. The good news is that so far there has been no tsunami alert.
SunEdison Investigates Self - Finds No Wrongdoing (Kinda); Defaults On Convertible Bond, Stock Soars 75%
'Nothing to see here, move along' is the message from embattled once-hedge-fund-darling SunEdison following its Valeant-esque self-investigation. Despite finding 'wrongdoing' by a former employee in talks over a failed acquisition and that its own executives fostered an "overly optimistic culture," SUNE officials found no misstatements in financial statements. The stocks is 75% higher in the pre-market on this 'good' news (remember BTU?).
What The Charts Say: 15 "Risks" To The Recent Rally
The stock surge from February is at risk, warns BofAML's Stephen Suttmeier as a plethora of bearish divergences could cap further gains from here. 2044-2022 are key nearby S&P 500 support for April, but a loss of 2022 is required to break the last higher low from 3/24 and suggest a deeper decline for the S&P 500. The following 15 risk-factors - from VIX term structure steepness to Dow Theory Sell signals - all point to a retest of the recent 1810-1820 lows.
Millionaires Are Fleeing Chicago In Record Numbers
Recently, we’ve shown where wealthy people reside within the US, and where they’re fleeing from (here, and here). We now present to you the US city that is winning the race to drive out their wealthiest taxpayers. As the Chicago Tribune reports, that city is none other than Chicago, Illinois. Millionaires are leaving Chicago more than any other city in the United States on a net basis, according to a report by New World Wealth.
Is Trump's "Recession Warning" Really All Wrong?
Over the weekend, Donald Trump, in an interview with the Washington Post, stated that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market. Of course, such a distinctly gloomy view of the economy runs counter to the more mainstream consensus of economic outlooks as witnessed by some of the immediate rebuttals: Here is the problem. Ben is correct.
The Most Powerful Weapon Ever - Gold, Uranium, Pen?
Hold your real assets outside of the banking system in one of many private international facilities --> http://www.321gold.com/info/053015_sprott.html Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL) We have the power and the weaponry to change every community, every state and the entire nation without ever firing a single bullet. How is this possible?
Trump: Fighting Assad And ISIS At The Same Time Is "Idiocy;" Allies Are Funding Terrorists
When assessing candidates for elected office, foreign policy is perhaps the single most important consideration in an increasingly interconnected world. That’s especially true in the 2016 race for The White House.
A Tale of Two Crashes, Part II
In the first part of this series, readers were presented with two separate but related expositions. First, readers were reminded of what is now a pattern of crime: the eight-year bubble-and-crash cycles manufactured by the Big Bank crime syndicate in the West. The previous eight-year cycle ended with the Crash of ’08, making us merely weeks or months away from the Crash of ’16.
"China Is Not Contained" Credit Market Screams
We have seen this pattern before, and it did not end well. While the most mainstream indications of China's "stability" are droned on about as indicating some level of control (i.e. Yuan volatility suppression), the fact is that no matter how hard China tries to centrally plan the entire world, segments of the credit market are screaming "uncontained." First, China was forced to inject the most liquidity in three years... and it's still not helping support risk...
This Is What Gold Does In A Currency Crisis, China Edition
As China’s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. As Reuters reports... China's central bank is under increasing pressure from policy advisers to let the yuan currency fall quickly and sharply, by as much as 10-15 percent, as its recent gradual softening is thought to be doing more harm than good.
RBS: "This Is Simply The Worst Week We Had In Recent History... After Too Much Policy Kool-aid"
This week is simply the worst we had in recent history for markets, RBS exclaims, the worst ever start to the year for The Dow, the worst since 1999 for S&P and the second-worst for credit since 2008. Worst still is, they think there’s more weakness ahead and that many fundamental risks will continue to haunt markets. Why? Simple! Investors drank too much policy kool-aid last year. And worst week for equity and credit markets in recent history...
December Jobs Soar by 292K, Smash Expectations Even As Average Earnings Unexpectedly Decline
As we noted in the jobs preview, only a super strong number had any chance of prompting a market reaction, and sure enough, the just announced December print of +292,000 smashed expectations of +200K, surging from last month's upward revised 252K, while October was revised to a massive 307,000, a net addition of 50K over the last two months.
Russia Sends 10,000 AK-47s To Afghanistan As Government Mulls "Inviting" Moscow To Help Fight "Terrorists"
Late last month in “Russia's Mid-East Takeover Continues As Afghanistan Requests Military Assistance From Moscow,” we noted, with some amusement, that Kabul was set to request a weapons delivery from Russia to aid in the fight against the Taliban.
Caught On Video: Terrorist Bomb Attacks At Turkey Peace Rally Leave 86 Dead, 186 Injured
Just when it seemed the war effort in Syria may be peaking, with Obama on the verge of folding long-standing US efforts to remove Syria's president Assad, overnight a new tragedy struck this time in the country which too has been using ISIS as a scapegoat while it conducts its own private war against Kurd elements in the south of the country.
Mystery Buyer Of US Treasurys Revealed
Back in March 2014, we first revealed something quite stunning: a new, seemingly ravenous, and completely unexpected buyer of US Treasurys had emerged in the face of "Belgium" which was buying tens of billions in US paper at a weekly clip, without any explanation.
Life In A Cashless World: How Cash Became A Policy Tool - An Interview With Dr. Harald Malmgren
Submitted by Erico Matias Tavares of Sinclair & Co. Cash as a Policy Tool – An Interview with Dr. Harald Malmgren The Hon. Dr. Harald Malmgren, Chief Executive of Malmgren Global, advises governments and companies on international trade and investment. A former senior aide to US Presidents John F. Kennedy, Lyndon B.
The Concept Of Money And The Money Illusion
Awareness about the concept of money is making a comeback. Gone are the decades in which the global citizenry was fooled to leave this subject to economists, governments and banks – a setup that has proven to end in disaster. The crisis in 2008 has spawned debate about what money is, where it comes from and where it should come from. These developments inspired me to write a post on the concept of money and the money illusion.
Return To Junk Status "Only A Matter Of Time" For Latin America's Most Important Economy: Barclays
Brazil’s embattled President Dilma Rousseff suffered another setback on Monday when Vice President Michel Temer elected to drop his role as Rousseff’s day-to-day liaison in Congress.
Billionaire Stanley Drucknemiller Loads Up On Gold, Makes It His Largest Position For First Time Ever
Over the past several years, one of the biggest critics of the Fed's ruinous monetary policy has been billionaire investor Stanley Druckenmiller, who in 2010 announced he would be shutting down his legendary Duquesne Capital Management, and convert it to a family office.
How China Imported A Record $70 Billion In Physical Gold Without Sending The Price Of Gold Soaring
A little over a month ago, we reported that following a year of record-shattering imports, China finally surpassed India as the world's largest importer of physical gold. This was hardly a surprise to anyone who has been following our coverage of the ravenous demand for gold out of China, starting in September 2011, and tracing it all the way to the present.
An Inside Look At The Shocking Role Of Gold In The "New Normal"
Long Nikkei/Short Gold: Profitable, dangerous and missed by everybody? Has the market completely missed a huge long/short trade which has helped to drive up the Nikkei and drive down the gold price for more than 2 years? One that puts risk-taking and leveraged speculation by our industry in an unfavourable light again.
Game Over For Greek Banks: Depositors Yank €2 Billion In Past Three Days
At this point, regardless of whether Greece miraculously cobbles a last minute deal together and gets just enough funds to pay back the near-term debt maturities (long-term can be found here): ... to the IMF, it is too late to save the Greek bank system.
Abenomics Fail: Japanese Slack-Jawed At Oral Sex Price Deflation
Despite proclamations by Kuroda, Abe, and various other elected (and unelected) officials that the 'deflation mindset' is gone from Japan, it appears one segment of the population is keenly aware of the ongoing deflationary market for one staple item.
Broke Kansas To Tax Poor People By Placing $25 Limit On ATM Withdrawals
On Saturday, May 2, Kansas Gov. Sam Brownback left Boss Hawg’s Bar-B-Q without leaving a tip for waitress Chloe Hough.
Market Wrap: Whirlwind Manic-Depressive Session Sees Futures Slide Then Surge
So far it has been an overnight session which clearly forgot to take its Lexapro, with futures first tumbling after CNBC's "leak" that a Greek deal had been reached was refuted, only to surge subsequently on both the Riskbank's foray into NIRP and QE which crushed the Swedish currency and sent its stocks to recorder highs, and more importantly, on the latest ceasefire out of Minsk which has pushed Russian and European assets substantially higher.
Ron Paul: "Reality Is Now Setting In For America... It Was All Based On Lies & Ignorance"
Submitted by Ron Paul via The Ron Paul Institute for Peace and Prosperity, If Americans were honest with themselves they would acknowledge that the Republic is no more. We now live in a police state. If we do not recognize and resist this development, freedom and prosperity for all Americans will continue to deteriorate. All liberties in America today are under siege. It didn’t happen overnight.
Shock At ISIS Beheadings, Silence At Saudi Arabia's: Why?
In the past 3 months there has been much discussion regarding the gruesome and barbaric beheadings by ISIS of western hostages. Yet surprisingly, a similar and just as barbaric tradition has been taking place for ages just a few hundred miles east of ISIS, in Saudi Arabia. It has been met with nothing but silence by the same indignant western societies who are quick to condemn ISIS villainy. Why the disconnect?
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