Earlier today, we brought you the latest from 1MDB, the development bank-turned slush fund at the center of multiple international investigations.
For those who might still be unfamiliar with the story, Malaysian prime minister Najib Razak set up the fund more than five years ago with the help of Goldman and one of the firm’s rising stars named Tim Leissner.
For Japan, the post "Shanghai Summit" world is turning ugly, fast, because as a result of the sliding dollar, a key demand of China which has been delighted by the recent dovish words and actions of Janet Yellen, both Japan's and Europe's stock markets have been sacrificed at the whims of their suddenly soaring currencies. Which is why when Japanese stocks tumbled the most in 7 weeks, sinking 3.5%, to a one month low of 16,164 (after the Yen continued strengthening and the Tankan confidence index plunged to a 3 year low) it was anything but an April fool's joke to both local traders.
On the last day of an extremely volatile first quarter, following the latest torrid push higher in risk assets over the past two days following Yellen's dovish Tuesday comments, today has seen a modest pull back in risk, whether because the market is massively overbought, because someone finally looked at what record multiple expansion that has taken place in Q1 as earnings are set to collapse by nearly 10%, or simply due to fears that tomorrow's payrolls number will show an abnormal amount of minimum wage waiters and bartenders added.
Submitted by Claire Bernish via TheAntiMedia.org,
“I think Smedley Butler was onto something,” Col. Lawrence Wilkerson, former George W. Bush administration heavyweight, told Salon in an exclusive interview.
Major General Smedley Butler earned the highest rank in the U.S. Marine Corps, accumulating numerous accolades as he helped lead the United States through decades of war. He later became an ardent critic of such militarism and imperialism.