By Monique Muise, as published on Global News
Canada sells nearly half of all its gold reserves
The government of Canada sold off nearly half its gold reserves in recent weeks, continuing a pattern of moving away from the precious metal as a government asset.
According to the International Monetary Fund’s International Financial Statistics, Canada held three tonnes of gold reserves as of late 2015.
http://globalnews.ca/video/embed/2511836/
...and credit is always right in the end!
1,100 is the target...
High Yield bond yields and Leveraged Loan prices are at their worst since 2009 as it seems the hosepipe of QE3 liquidity (its the flow not the stock, stupid) is slowly unwound from a buybacks-are-over equity market.
Submitted by Brandon Smith via Alt-Market.com,
Many of us saw it coming a long time ago — increasing confrontation between liberty proponents and the corrupt federal establishment leading to increasing calls by political elites and bureaucrats to apply to American citizens the terrorism countermeasures designed for foreign combatants. It was only a matter of time and timing.
First, it was The BoJ's utter collapse from omnipotence to impotence. Then came the collapse of The Fed's credibility in the short-term.... and the longer-term. And now it is the turn of Mario Draghi's ECB to face total failure, as the European banking system - the prime beneficiary of "whatever it takes" - has crashed back to pre-Draghi levels.
As former Morgan Stanley guru Gerard Minack explains, the most corrosive factor for markets currently is the downgrading of perceived central bank potency.
By now all of our readers should be familiar with JPM's head quant Marko Kolanovic whose unblemished track record of accurate market calls is not only second to none, but is the equivalent in absolute value terms of Dennis Gartman's consistently wrong calls, which is why we won't spend time introducing him.
Instead we cut right to the chase with the highlights of his latest note released moments before the market close today, in which he lays out the biggest risks to the market, which are as follows: