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Tag Archives: None

China Beige Book Warns Economic Slowdown Has Begun

When it comes to the global economy, few things matter as much as China, the trajectory of its economy and especially the pace and impulse of its credit creation, which is ironic because virtually all data coming out of China is fabricated and manipulated, and thoroughly untrustworthy, either on purpose or "by accident." The latest example of the former was highlighted over the weekend, when we discussed that a nationwide Chinese audit found some local governments inflated revenue levels and...

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Citi’s “What If?” Scenarios: Part 2

Yesterday we published the first set of 7 "What If" scenarios that didn't make it into the Citi Credit team's (already rather gloomy) year-ahead forecast. Because while Citi's "base case" was clearly bearish (our summary can be found here), what was left unsaid was even more unsettling, if not troubling. As the bank's credit team wrote "what about the outcomes that didn’t quite make it into our base case? The scenarios that aren’t central, but which aren’t entirely implausible either – both...

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Was Coinbase’s Bitcoin Cash Rollout A Designed Hit?

Authored by Tom Luongo, There’s an excellent article over on Breitbart that looks at the details of Coinbase’s surprise roll-out of Bitcoin Cash (BCH) as a trading vehicle on their in-house exchange GDAX. It details the whole sordid mess and I would recommend anyone interested in the topic to read it for what it implies. To me, however, being the cynic that I am if there is a path to harming Bitcoin and the cryptocurrency market available to the money center banks, then they will...

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Charles Hugh Smith Explains “Why I’m Hopeful”

Authored by Charles Hugh Smith via OfTwoMinds blog, A more human world lies just beyond the edge of the Status Quo. Readers often ask me to post something hopeful, and I understand why: doom-and-gloom gets tiresome. Human beings need hope just as they need oxygen, and the destruction of the Status Quo via over-reach and internal contradictions doesn't leave much to be happy about. The most hopeful thing in my mind is that the Status Quo is devolving from its internal contradictions and...

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Bitcoin – Millennials Fake Gold

I’ve been asked about Bitcoin a lot lately. I’ haven’t written anything about it because I find myself in an uncomfortable place in agreeing with the mainstream media: It’s a bubble. Bitcoin started out as what I’d call “millennial gold” – the young (digital) generation looked at it as their gold substitute. Bitcoin is really two things: a blockchain technology and a (perceived) currency. The blockchain element of Bitcoin may have enormous future applications: It may be used for electronic...

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New Fiscal Rules Will Produce Discipline And A Confidence Shock In Zimbabwe

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Zimbabwe’s new President Emmerson Mnangagwa, like his predecessor Robert Mugabe, claims that economic sanctions have crippled Zimbabwe’s national development. What nonsense. Robert Mugabe and the current governing party ZANU-PF have made Zimbabwe into an economic basket case. Indeed, the ruling Party has put its stamp of approval on one disastrous economic policy after another for 37 years. Among...

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How The Asset Bubble Could End – Part 2

Authored by Pater Tenebrarum via Acting-Man.com, Read Part 1 here... Contradictory Signals Special antennae that help traders catch upcoming opportunities. Available from the same outfit that sells the soup-cooling spoon (Acme Inc).   There is just one more positioning indicator we want to mention: after surging by around $126 billion since March of 2016, NYSE margin debt has reached a new all time high of more than $561 billion. The important point about this is that margin debt...

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North Korea Amassing Bitcoin To Fund Cyberattacks According To Crowdstrike CEO

Content originally published at iBankCoin.com The CEO of cybersecurity firm Crowdstrike, George Kurtz, says North Korea is "absolutely" accumulating a giant pile of bitcoin to fund cyberattacks. "They're building a cache of bitcoin, if you think about it. It's an anonymous currency, it can easily bypass any sort of sanctions because there are none on bitcoin, and the value has increased dramatically," Kurtz told CNBC's "Squawk Alley." "It's the perfect currency for North...

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The 10 “Grey Swans” Events For 2018

One of the traditional push backs against attempts to predict "black swan" events is that they are by default unpredictable, rendering the entire exercise moot. However, for the second year in a row, Nomura's Bilal Hafeez has found a loophole, or rather loop-animal: the grey swan. As Hafeez writes, while he would like to be able to predict black swans, by definition that is impossible. "However, its close cousin the grey swan can be foreseen. These are the unlikely but impactful events that,...

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Is Bitcoin The Answer?

Authored by Paul Tustain via BullionVault.com, Governments have abused and distorted our money. How about a 'Bitcoin standard'...? THIS is a subsection of a book that's coming later. It seemed worth publishing now,  writes Paul Tustain, founder and chairman of BullionVault and co-founder of WhiskyInvestDirect. What is money? Strangely, for something with which we are all so familiar, not one person in a thousand could explain what money really is where it...

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