Economics

Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17%

Monday, December 15, 2014
By Paul Martin

by Tyler Durden ZeroHedge.com 12/15/2014 Following the biggest rout to the Ruble in ages, Russia – unlike Mario Draghi – instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 am in the morning) from the recently raised... »

Yes, It’s Possible For A Gold-Backed Renminbi To Dethrone The US Dollar

Monday, December 15, 2014
By Paul Martin

by Tim Price ZeroHedge.com 12/15/2014 “Mutually assured destruction” now best describes the uneasy stand-off between an increasingly indebted US government and an increasingly monetarily frustrated China. So here’s a quiz: 1) Which country is the world’s largest sovereign miner of gold? 2. Which country doesn’t allow an ounce of that gold to be exported?... »

“You Can Only Fool Reality So Long”

Monday, December 15, 2014
By Paul Martin

by James H. Kunstler ZeroHedge.com 12/15/2014 The shale oil “miracle” was an epochal stunt. Thanks to ZIRP, what every pom-pom carrying cheerleader failed to note was how much of the day-to-day shale operation was being run on junk bond financing. ZIRP destroyed the most fundamental index in the financial universe: the true cost of... »

Oil Volatility Is Exploding (And It’s Spreading)

Monday, December 15, 2014
By Paul Martin

by Tyler Durden ZeroHedge.com 12/15/2014 Oil volatility has literally exploded in recent weeks as investors pile into protection and headline-driven shocks spark almost unprecedented swings in the ultimate raw material. While FX volatility has been draually picking up in the last 6 weeks – now at 2014 highs, rates and equity market volatilities have... »

We Just Witnessed The Worst Week For Global Financial Markets In 3 Years

Monday, December 15, 2014
By Paul Martin

By Michael Snyder TheEconomicCollapseBlog.com December 14th, 2014 Is this the start of the next major financial crisis? The nightmarish collapse of the price of oil is creating panic in financial markets all over the planet. On June 16th, U.S. oil was trading at a price of $107.52. Since then, it has fallen by almost... »

The Ex-Goldman Trader Who Correctly Shorted Subprime Mortgages During The Financial Crisis Has Made A New Bet

Monday, December 15, 2014
By Paul Martin

MYLES UDLAND BusinessInsider.com DEC. 15, 2014 When Josh Birnbaum was at Goldman Sachs in 2007, he made a huge bet against subprime mortgages. Now he’s betting against something else: high-yield bonds. From The Wall Street Journal: Joshua Birnbaum, the ex-Goldman Sachs Group Inc. trader who made bets against subprime mortgages during the financial crisis,... »

One foot on a banana peel …the other in a grave!

Monday, December 15, 2014
By Paul Martin

By Bill Holter GoldSeek.com Monday, 15 December 2014 Never before have I seen so many pieces of information to be put together in the span of just one week. This past week we were bombarded with connectable dot after connectable dot, nearly each and every one of them on their own would have caused... »

Subprime lending market in Canada skyrockets to record as banks tighten reins

Monday, December 15, 2014
By Paul Martin

Garry Marr and Barbara Shecter FinancialPost.com December 15, 2014 Subprime lenders’ share of the Canadian mortgage market has reached record levels, according to data obtained by the Financial Post, putting increased risk on the housing market. Alternative lenders, who are major beneficiaries of that subprime market, now underwrite 2.2% of all mortgage loans —... »

Effective 12/22/2014 If Gold Price Moves $100 and Silver Price Moves of $3 – Trading to be Halted for 5 minutes

Monday, December 15, 2014
By Paul Martin

Investmentwatchblog.com December 15th, 2014 The CME Group has announced that it plans to impose trading collars for precious metals, meaning that a swing in the gold price of $100 dollars will prompt a five minute halt in trading. The decision immediately prompted speculation as to why the new rule was being imposed now and... »

Goldman Pours More Crude On The Fire: “Oil Prices Can Go Lower For Longer”

Monday, December 15, 2014
By Paul Martin

by Tyler Durden ZeroHedge.com 12/15/2014 Slowing the rebalancing and creating further downside risk is a very strong consensus view that this pull back is temporary and that oil prices will quickly rebound as they did in 2009. According to a recent Bloomberg survey, the median WTI forecast for 2016 is $86/bbl (even we forecast... »

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