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Tag Archives: SWIFT

De-dollarization By Default Is Not What You Might Think

Last month, a group of central bank governors from across the South Pacific region gathered in Australia to move forward the idea of a KYC utility. If you haven’t heard of KYC, or know your customer, it is a growing legal requirement that is being, and has been, imposed on banks all over the world. Spurred by anti-money laundering efforts undertaken first by the European Union, more and more governments are forcing global banks to take part. KYC is a particularly onerous demand. Essentially a...

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Israeli Military Capabilities – Scenarios For The Third Lebanon War

Via Southfront.org, The Current State of Affairs At the present time, Israel’s top political leadership is in the state of outright hysteria regarding Lebanese Hezbollah.  Senior Israeli officials have repeatedly claimed that Israel will not allow Hezbollah and Iran to concentrate its forces in border areas and to expand their influence in the region, particularly in Syria and Lebanon. The already difficult situation in southern Lebanon and Syria was further complicated by...

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In Dramatic Reversal, Top Senate Republicans Now Want To Repeal AMT They Passed Just Days Ago

When we laid out the key highlights of the Senate tax plan passed just before 2am on Saturday morning, we made one thing clear: nobody had read the massive 479-page bill which had several pages with handwritten revisions in the margin. I was just handed a 479-page tax bill a few hours before the vote. One page literally has hand scribbled policy changes on it that can’t be read. This is Washington, D.C. at its worst. Montanans deserve so much better. pic.twitter.com/q6lTpXoXS0 — Senator Jon...

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Citi’s Shocking Admission: “There Is A Growing Fear Among Central Bankers They’ve Lost Control”

Earlier we showed a variation on a VIX chart from Citi's Hans Lorenzen which, if it doesn't impress, or scare you, then nothing probably will. What happens next should be familiar from the last financial crisis: the infamous step up in risk: When the conventional asset class of choice no longer offers a “decent” return potential, money looks to the next one on the quality spectrum for a pickup. IG funds holding BBs and AT1. DM funds buying EM debt. European and Asian funds holding...

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“But The Elites Will Just Ban Bitcoin!”

By Chris at www.CapitalistExploits.at I was thinking about this as I've been reading....and re-reading the absolutely brilliant book "Sapiens: A Brief History of Humankind" by Yuval Noah Harari, who is one of my new favourite thinkers. In particular, there is a chapter which takes a sword to the notion that empires always crush rebellions with an iron fist: Throughout history empires have crushed rebellions with an iron fist, and when its day came, a sinking empire used all its...

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Gold Smuggling Surges: Man Caught “Walking Suspiciously” With 1 Kilo Bar In Rectum

Authored by Simon Black via SovereignMan.com, Earlier today in Sri Lanka’s Colombo International Airport, a passenger was arrested by local authorities and found to have stuffed nearly $30,000 worth of gold into his rectum. That’s nearly 1 kilogram of gold. In his ass. The gold had been carefully wrapped in plastic and included four small bars and multiple chains of jewelry. Airport police were tipped off when they noticed the 45-year old man “walking suspiciously.”...

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Congress Passed A Bill To Deport Suspected ‘Gang’ Members – There’s Just One Problem

Authored by Sarah Cronin via TheAntiMedia.org, Last week the House passed a bill to expand the government’s ability to deport immigrants on the basis of alleged gang affiliation.  Promoted by Republicans as a way to target members of gangs such as the transnational M13 gang, H.R. 3697, the “Criminal Alien Gang Member Removal Act,” amends the Immigration and Nationality Act by adding gang affiliation to the list of criminal offenses that qualify as grounds...

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De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments

Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Source: The Burning Platform Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports. As we previously noted, Venezuelan President Nicolas Maduro said last Thursday that Venezuela will be looking to...

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Weekend Reading: The “Real” Vampire Squid

Authored by Lance Roberts via RealInvestmentAdvice.com, First, it was Hurricane “Harvey” and an expected $180 billion in damages to the Texas coastline. Now, “Irma” is speeding her way to the Florida coastline dragging “Jose” in her wake. Those two hurricanes, depending on where they land will send damages higher by another $100 billion or more in the weeks ahead. The immediate funding needed for relief to Americans is what you would truly deem to be...

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FX Week Ahead: Cue The ECB To Disappoint; Buying Time For Fed To Catch Up?

Submitted by Shant Movsesian and Rajan Dhall MSTA from fxdaily.co.uk After another 'interesting' non farm payrolls report, we start the week on a quiet note as the US observes the Labour Day holiday and Canada day speaks for itself.  Plenty of volatility to expect thereafter though, as it is the ECB's turn to manage market expectations, which so far show little sign of moderating as EUR longs are keen to hold positioning into a much expected tapering signal.   After the...

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