South Africa’s ruling African National Congress gushed a double whammy of capital-flight-creating rulings this afternoon. The Rand is tumbling on Bloomberg headlines that the ANC is said to seek constitutional changes for land expropriation (from whites) without compensation, but perhaps even more worrisome, the ruling party has decided that the Reserve Bank must be wholly owned by the state:
Authored by Michael Snyder via The Economic Collapse blog,
Fedcoin doesn’t even exist yet, and yet the Washington Post is already hyping it as the primary cryptocurrency that we will be using in the future.
Do they know something that they rest of us do not?
Remember last week when the world was desperately willing to pay excessive spreads to get their hands on dollar liquidity (the worst liquidity crisis since the European crisis)...
Well that's all over now!
EUR-, JPY-, and GBP-cross currency basis swaps have suddenly snapped higher (less negative) as dollar liquidity is suddenly not a problem anymore...
As BofA explains, this is an early holiday present for foreign investors:
It Is What It Is But It's Not What It Seems
Written by Craig Hemke, Sprott Money News & TF Metals Report
That line was only recently penned by the great Irish poet and philosopher, Paul Hewson. It no doubt applies here to our daily struggle against The Banks and their paper derivative pricing scheme.
As the House prepares to hold its second vote on the final version of the Republican tax plan, Fox Business and Dow Jones Newswires are reporting that President Donald Trump might wait until early next year to sign the bill once it reaches his desk. His reason? By delaying the signing, Trump would effectively push certain spending cuts to programs like Medicare until 2019.