Daily Archives: June 4, 2014

ZeroHedge – Repackaged Junk Has Never Smelled So Sweet: JPM Forecasts Record $100 Billion In 2014 CLO Issuance – 4 June 2014

 ZeroHedgeIf the Fed is looking for definitive proof of bubble euphoria it should look no further than the CLO market: according to Bloomberg, so far in 2014, more than $46 billion of collateralized loan obligations have been raised, after $82 billion were sold in all of 2013. As a result of this epic dash for repackaged trash, JPMorgan boosted its annual forecast for CLO issuance from $70 billion to as much as $100 billion, which means 2014 may end up as the biggest year on record. We assume it is with great irony that Bloomberg summarizes: “The business of bundling junk-rated corporate loans into top-rated securities is booming like never before after the implementation of regulation aimed at making the financial system safer.”

Solar Wars: US Penalizes China By Doubling Tariffs On Panels – 4 June 2014

RT logoThe US plans to impose additional import duties of between 18-35% on Chinese solar panel makers, in order to protect the American market from the dumping of Chinese products. This marks an escalation of the US–China trade war that started in 2012.

The new duties proposed by the Commerce Department are higher than the initial tariffs of between 24 to 36 percent on panels imported from China that were announced in 2012.

The decision came after a US investigation showed China had flooded solar panels onto the American market at illegally low prices.

Read the full story at: www.rt.com / link to original article

5.7 Magnitude Earthquake Hits Alaska – 4 June 2014

A 5.7 magnitude earthquake rocked southeastern Alaska, about 73km from Haines, near Glacier Bay National Park and Preserve.

The earthquake hit on Wednesday at 11:58 GMT southwest of Haines, which has a population of over 2,500 people. The epicenter was 10km deep, according to United States Geological Survey.

The quake was first reported at a magnitude of 5.8, however it was subseqently downgraded to 5.7.

There have been no reports of casualties.

Read the full story at: www.rt.com / link to original article

ZeroHedge – US Begins Delivering F-16s To Iraq This Week, A Decade After It Wiped Out Iraq’s Air Force – 4 June 2014

ZeroHedgeIt seems like it was only yesterday when the US, under the guise of a fabricated WMD threat, was invading Iraq to liberate its oil deposits.

Fast forward to this week, when as Reuters reports, the US will deliver the first of 36 F-16 fighter jets to Iraq in what Baghdad’s envoy to the United States called a “new chapter” in his country’s ability to defend its vast borders with Iran and other neighbors. Which merely shows that since the US has “sanctioned” virtually every other potential customer of US weapons, it now has no choice but to invoice defense machinery deliveries (and boost factory orders and GDP) to former enemies. It also means that in several years, when Iraq reverts to a posture that is unfriendly to the US, and when the US shale boom is long gone and foreign sources of petroleum are once again all the rage, the US will have to fight its own fighter jets in the name of yet another war of democratic liberation and emancipation.

Read the full story at: www.zerohedge.com / link to original article

Laura Bruno – Gary Z McGee – Sacred Anger And The Power Of Hard Love – 4 June 2014

laura-of-the-rocksThis is one of the best articles I have ever read. Thanks, Ann! It goes right along with a comment I made on my reblog of Jon Rappoport’s “The composition of human life” post: Yes, it’s interesting, because there IS some value in surrender when you have truly tried everything else. Oftentimes, the relief follows and then ushers in solutions after deep surrender. The trouble with the New Age movement is that it teaches passivity as “surrender,” and that has allowed really good people to passively endorse all manner of atrocities in the name of “being spiritual.” Continue reading

ZeroHedge – Interview: “Are We Going To See Massive Confiscation Of Wealth By Banks!?” – 4 June 2014

ZeroHedge

Today’s AM fix was USD 1,246.00, EUR 915.84 and GBP 744.73 per ounce.

Yesterday’s AM fix was USD 1,244.25, EUR 914.42 and GBP 742.26 per ounce.

Gold climbed $3.20 or 0.26% yesterday to $1,246.30/oz. Silver rose $0.03 or 0.48% to $18.84/oz.

Read the full story at: www.zerohedge.com / link to original article

ZeroHedge – France Responds To US BNP Fine, Will Train Hundreds Of Russian Seamen To Operate French-Made Warship- 4 June 2014

 ZeroHedgeIn the aftermath of the Russian sanctions, which French president Francois Hollande vehemently approved after constantly slamming Russia’s involvement in the Ukraine conflict, and even went so far to threaten the cancellation of a delivery of a powerful French-made amphibious assault warship, the Mistral, to be delivered to Russia something happened: in the latest demonstration of its impotence to punish domestic bankers, the US decided to slap a French bank, BNP Paribas with a $10 billion fine for money laundering.
Read the full story at: www.zerohedge.com / link to original article

Steve Lendman – Syrians Vote – 4 June 2014

StevelendmanJune 3 was historic. It was Syria’s first ever free, fair, open democratic presidential election.
Hassan al-Nouri and Maher Hajjar competed with Assad. He’s overwhelmingly popular.
He’ll win easily. Only his victory margin remains to be determined.
Syrians want no one else leading them. Especially while conflict continues. He’s fighting for Syrian freedom. He’s defeating Obama’s dirty game.
On Tuesday, 9,601 polling stations opened at 7:00AM. Heavy turnout kept them open until midnight. To accommodate everyone wanting to vote.

Continue reading

James Corbett – The Corbett Report – Interview 897 – Matthew Slater Explores The Meaning Of Money – 4 June 2014

JamesCorbett4Link to podcast

Matthew Slater is a currency engineer who designs software for community currency accounting. Working for free and living on hospitality, Slater has spent years exploring the history and function of complementary currencies, time banks, mutual credit and other systems, and the meaning of “money” itself. Today we engage in a wide-ranging conversation exploring mutual credit systems, cryptocurrencies, credit money vs. commodity money, and the communities at the root of the monetary system. Continue reading

ZeroHedge – Frontrunning – 4 June 2014

ZeroHedge

  • U.S. sets new import duties on Chinese solar products (Reuters)
  • U.S.-China Solar-Products Dispute Heats Up (WSJ)
  • China Mulls Offshore Yuan Gold Trade in Free Trade Zone (BBG)
  • Insider-Trading Probe Could Snarl a Deal for Icahn (WSJ)
  • KCG Holdings Suspects Its Trading Code Was Stolen (WSJ)
  • ‘Period. Full Stop’ Is the New ‘At the End of the Day’ (BBG)
  • Draghi not so goof for bonds: Investors Flag Risk of ECB Disappointing After Europe Bond Rally (BBG)
  • But great for stocks: Equity Traders See Draghi Turning Throttle Up on Rally (BBG)
  • ISS, Other Proxy Advisers Pressed to Disclose Conflicts (WSJ)
  • State Colleges Revolt as Years of Cuts Divide U.S. Campuses (BBG)
  • Singapore Joins China With Dangerous Debt Level, GMT Says (BBG)

Continue reading