Beijing Sounds Alarm About Dollar’s Reserve Status

Beijing Sounds Alarm About Dollar’s Reserve Status Tyler Durden Thu, 06/18/2020 – 22:35 As excerpted from Bloomberg macro commentator Ye Xie Beijing Sounds Alarm About Demise of Mighty Dollar With all the money printing and borrowing, is this the beginning of a long decline for the dollar? Clearly this is on the minds of some senior Chinese officials. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, delivered a strong warning on the U.S. currency this week. He made four points in a speech at the Lujiazhui Forum in Shanghai: A. The Fed is the de facto central[…]

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“I Was In The Room Too” – Pompeo Accuses “Traitor” Bolton Of Spreading “Outright Falsehoods”

“I Was In The Room Too” – Pompeo Accuses “Traitor” Bolton Of Spreading “Outright Falsehoods” Tyler Durden Thu, 06/18/2020 – 21:46 After maintaining a foreboding silence for roughly a day, Secretary of State Mike Pompeo, a top Trump Administration official who was of course present for many of the episodes described by former NSA John Bolton in the salaciously leaked details from his book, which the White House is struggling to suppress on grounds it contains classified information. In a statement entitled “I Was In The Room Too,” Pompeo slammed Bolton as a “traitor” who is spreading “fully-spun” lies. He[…]

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Baltimore City Police Confirm President Trump’s Claim 68% Of All Homicides Unsolved In 2019

Baltimore City Police Confirm President Trump’s Claim 68% Of All Homicides Unsolved In 2019 Tyler Durden Thu, 06/18/2020 – 21:30 President Trump signed an executive order Tuesday addressing the nation on police reforms amid widespread social unrest across many large metropolitan areas. As the president signed the order at the White House Rose Garden surrounded by law enforcement officers, he pointed out that a majority of homicides last year in Baltimore City went unsolved.  “In many cases, local law enforcement is underfunded understaffed, and under support,” the president said. “Forty-seven percent of all murders in Chicago and 68% of all murders in Baltimore went[…]

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Fake Science And Public Hysteria – The New Driving Force Of Politics

Fake Science And Public Hysteria – The New Driving Force Of Politics Tyler Durden Thu, 06/18/2020 – 21:00 Via InternationalMan.com, International Man: The Lancet recently retracted an anti-hydroxychloroquine study, which the media had used to attack Trump. Trump had admitted to taking hydroxychloroquine as a preventative measure against the coronavirus. The media then went into a frenzy. The talking heads often cited The Lancet study as proof hydroxychloroquine was dangerous. The bottom line is that bogus research made its way—likely deliberately—into one of the most prestigious peer-reviewed medical journals in the world. People then used this “science” as a political weapon. What[…]

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China’s Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020

China’s Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020 Tyler Durden Thu, 06/18/2020 – 20:30 One of the curiosities about the current global financial crisis is that unlike the global financial crisis of 2008 when a massive credit injection by China sparked a generous reflationary wave around the world which pulled it out of a deflationary slump, this time around China has been far more modest as the following chart shows. All that may be about to change. Speaking in a financial forum in Shangha, China’s central bank governor Yi Gang said that China will[…]

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Iran Holds “Art” Exhibition Depicting US Police As Nazis, KKK

Iran Holds “Art” Exhibition Depicting US Police As Nazis, KKK Tyler Durden Thu, 06/18/2020 – 20:00 Authored by Steve Watson via Summit News, Iran, governed by one of the most racist regimes on Earth, has sponsored an ‘international art exhibition’ using the death of George Floyd to tar America as deeply racist society. The exhibition, titled “I can’t breathe” includes ‘art’ that depicts US police as Nazis and Ku Klux Klan. Tehran Hosts “I Can’t Breathe” Cartoon Exhibition: America, Trump, Police Depicted with Nazi, KKK Imagery; Star of David Shown Crushing the Neck of a Dove pic.twitter.com/2YEbsfXaHo — MEMRI (@MEMRIReports)[…]

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The Cause Of Tension Between China And India

The Cause Of Tension Between China And India Tyler Durden Thu, 06/18/2020 – 19:00 Authored by Zamir Awan via the Saker Blog, Chinese foreign ministry spokeswoman Hua Chunying said: “positive consensus” on resolving the latest border issue was achieved following “effective communication” through diplomatic and military channels. New Delhi said the two countries had agreed to “peacefully resolve” the border flare-up after a high-level meeting between army commanders. India’s Prime Minister Narendra Modi and Chinese leader Xi Jinping had sought to ease the tensions at summits over the past two years when they agreed to boost border communications between their militaries.[…]

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Where To Pull Profits In This Uncertain Market

I am a skeptic of this seemingly endless bull rally from our March lows. Unemployment is sitting at its highest levels since the Great Depression, and I think the markets are overestimating how quickly the unemployment will recover. The US government is subsidizing the unemployed population, and many are making even more than they would if they were employed, but this cannot last forever. The current (excessive) level of unemployment benefits will be gradually reduced until it reaches pre-COVID levels, but this will occur much quicker than it takes unemployment to recover. It could be years before consumer spending reaches[…]

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Dollar & Bonds Bid As Stocks See One Of Quietest Days Of The Year

Dollar & Bonds Bid As Stocks See One Of Quietest Days Of The Year Tyler Durden Thu, 06/18/2020 – 16:00 If “Leading Indicators” lead, then the stock market has a problem… But stocks barely budged (lifted a little late on after Trump said talking with Dems about extending PPP)… Nasdaq outperformed (up 5 days in a row), Dow lagged with S&P and Small Caps scrambling to hold unchanged… As stocks saw one of their quietest days of the year (range-wise)… Source: Bloomberg The Dow fell further below its 50DMA… “Most Shorted” Stocks drifted lower today but again a narrow range…[…]

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Labor Recovery Stalls, Benefits Not Paid, Massive Unemployment Lines In Kentucky

Labor Recovery Stalls, Benefits Not Paid, Massive Unemployment Lines In Kentucky Tyler Durden Thu, 06/18/2020 – 15:50 As the US labor market recovery stalls, the second wave of layoffs is underway. The overhyped nonfarm payrolls “recovery” and bounce in retail sales (ignoring the lack of ‘V’ in industrial production), was reversed on Thursday morning when 1.508 million more Americans filed for unemployment benefits. With plunging demand and fractured supply chains – companies are not highering at the pace that would support President Trump’s and Wall Street’s claims of a V-shaped “rocket ship” recovery in economic growth and employment. Leading indicators are showing the economy barely bounced after[…]

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