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Turkey Rules Out Capital Controls As Germany Says IMF Bailout “Would Be Helpful”
Turkey Rules Out Capital Controls As Germany Says IMF Bailout “Would Be Helpful” During this morning’s conference call organized by Citi, HSBC and other banks with “thousands” of investors, Turkey’s Treasury and Finance Minister Berat Albayrak – the Jared Kushner of Turkey – eased nerves when in an attempt to bolster confidence, said that capital controls […]
From “Doom Loop” To Just “Doom”: Italian Debt Faces A “Huge Structural Shift”
From “Doom Loop” To Just “Doom”: Italian Debt Faces A “Huge Structural Shift” At the start of July, we revealed that a familiar force had returned to Europe. According to ECB data, during May when the market saw unprecedented Italian government bond turmoil, Italian bank holdings of domestic government bonds showed record buying over the […]
Chart Of The Day: Australia’s Record Household Debt Is A Ticking Time Bomb
Chart Of The Day: Australia’s Record Household Debt Is A Ticking Time Bomb The Australian household debt to income ratio has ballooned to shocking levels over the past three decades as Sydney is ranked as one of the most overvalued cities in the world. According to the Daily Mail Australia, credit card bills, home mortgages, and personal […]
16 Billion Reasons Why Turkey’s Currency Crisis Will Become A Debt Crisis
16 Billion Reasons Why Turkey’s Currency Crisis Will Become A Debt Crisis Earlier this week, when the Turkish lira imploded over the weekend, plunging by the most on record in two consecutive days, bonds of Turkish banks tumbled amid concerns that lira’s slump this year would makes it extremely difficult for lenders to repay dollar-denominated […]
Turkey Joins Russia In Liquidating US Treasuries
Turkey Joins Russia In Liquidating US Treasuries Last month, when we reported that Russia had liquidated the bulk of its US Treasury holdings in just two months, we said that “we can’t help but wonder – as the Yuan-denominated oil futures were launched, trade wars were threatened, and as more sanctions were unleashed on Russia […]
US Household Debt Hits Record $13.3 Trillion
US Household Debt Hits Record $13.3 Trillion Total household debt hit a new record high, rising by $82 billion to $13.29 trillion in Q2 of 2018, 3.5% higher than a year earlier according to the NY Fed’s latest household debt report. It was the 16th consecutive quarter with an increase in household debt, and the […]
Technocrats Rule: Democracy Is OK as Long as the People Rubberstamp Our Leadership
Technocrats Rule: Democracy Is OK as Long as the People Rubberstamp Our Leadership Technocrats rule the world, East and West alike. We are in a very peculiar ideological and political place in which Democracy (oh sainted Democracy) is a very good thing, unless the voters reject the technocrat class’s leadership. Then the velvet gloves come […]
Google Is Constantly Tracking, Even If You Turn Off Device ‘Location History’
Google Is Constantly Tracking, Even If You Turn Off Device ‘Location History’ Perhaps it should come as no surprise that Google is actually tracking you even when you switch your device settings to Location History “off”. As journalist Mark Ames comments in response to a new Associated Press story exposing Google’s ability to track people at all […]
Will Turkey be the first domino to fall?
Will Turkey be the first domino to fall? There has been many financial crises over the past century, yet few of those provided much of a warning that they were about to hit. It only becomes clear after the fact. We then begin to hear speeches on what there was to learn and how to avert any […]
“All Bets Are Off” – Ruble, Lira Crushed By US Sanctions
“All Bets Are Off” – Ruble, Lira Crushed By US Sanctions Emerging Market currencies are down broadly but the biggest losers (for now) are the Turkish Lira (record lows) and Russian Ruble (20-mo lows) as both suffer from US government actions. The Ruble has broken down to its lowest since Nov 2016 (US election)… The […]
Ten Bombshell Revelations From Seymour Hersh’s New Autobiography
Ten Bombshell Revelations From Seymour Hersh’s New Autobiography Among the more interesting revelations to surface as legendary investigative journalist Seymour Hersh continues a book tour and gives interviews discussing his newly published autobiography, Reporter: A Memoir, is that he never set out to write it at all, but was actually deeply engaged in writing a massive exposé of […]
“What They Did Was Unacceptable”: Saudis To Dump Canadian Assets “No Matter The Cost”
“What They Did Was Unacceptable”: Saudis To Dump Canadian Assets “No Matter The Cost” Update 2: Saudi foreign minister Adel Al-Jubeir has made a new statement – attempting to talk back The Kingdom’s rhetoric somewhat (or perhaps avoid sending its Canadian asset prices tumbling into a firesale). “What Canada did was unacceptable. Canada committed a […]
Diplomatic Feud Goes “Nuclear”: Saudis Start Dumping Canadian Assets “No Matter The Cost”
Diplomatic Feud Goes “Nuclear”: Saudis Start Dumping Canadian Assets “No Matter The Cost” The Saudis have escalated their fury towards Trudeau’s “progressive” propaganda. Having expelled the Canadian ambassador, froze new trade and investment with the G7 member, suspended a student exchange programme and halted Saudi Arabian Airlines flights to Canada, the Saudis are stepping up […]
Blowback: UniCredit Becomes First Major Corporation To Sever Ties With Facebook Over Ethics
Blowback: UniCredit Becomes First Major Corporation To Sever Ties With Facebook Over Ethics Facebook has lost a major advertiser, UniCredit SpA, which has severed all ties alleging that the social media giant hasn’t acted ethically, reports Bloomberg – which notes that “other large companies” may follow suit. CEO Jean Pierre Mustier says the bank maintains that Facebook hasn’t […]
10 Haunting Photos As California’s Largest Wildfire Ever Spirals Out Of Control
10 Haunting Photos As California’s Largest Wildfire Ever Spirals Out Of Control On Monday, the twin fires being treated as one incident north of San Francisco became the largest wildfire in state history, destroying 443 square miles (1,148 square kilometers), nearly the size of the city of Los Angeles and 45% greater than New York […]
