Business

Crude prices are lower this morning following API's huge reported build at Cushing (biggest since 2008) and fears over OPEC deal realities. With expectations for a crude draw (on lower imports), DOE confirmed a bigger than expected overall draw but also Cushing saw a 3.78mm barrel build - the biggest since Jan 2009. Both Distillates and Gasoline (most since Jan) also saw bigger than expected builds as US production dropped very modestly.

API

Continuing in the tradition of making a selection of calls aimed at provoking conversation on what might surprise or shock the investment returns in the year ahead this year's predictions cover a range of scenarios, including a Chinese growth rebound, an Italian bank rally, Brexit giving way to Bremain and the EU's willingness to change in the face of populist backlash, among others.

Submitted by Charles Hugh-Smith via OfTwoMinds blog,

If you don't like what these charts are saying, please notify The Washington Post to add the St. Louis Federal Reserve to its list of Russian propaganda sites.

As the mainstream media continues to blast Trump with allegations of conflicts of interest related to his many real estate holdings around the world, at least one conflict they won't have to worry about anymore is his holdings of public stocks.  Per the Washington Post, a Trump spokesman told the press yesterday that Trump unloaded all of his public shares back in June.

Submitted by Ronan Manly, BullionStar.com

 
Introduction

When discussing bullion banking mechanics, it’s important to understand what a bullion bank actually is, and what activities bullion banks engage in. This appreciation also helps highlight the major concerns which modern bullion banking poses.