Forget the G-20 agreement on no "competitive devaluations" - the full court press on the Bank of Japan to engage in the next round of aggressive currency devaluation is on, just three months after Kuroda unveiled Japan's first negative interest rate.
Just three days ago, on April 21, when looking at the technical picture behind the recent bitcoin price action (having covered the extremely favorable fundamentals last September when it was trading at half its current price), we asked if "Bitcoin is about to soar." We were focusing on the bullish pennant formation which suggested a breakout to the upside was imminent.
Moments ago, we got the answer when "soar" is precisely what bitcoin did when following a burst of high volume buying, the digital currency spiked higher by over 4%, to a price of $470...
Via NorthmanTrader.com,
Submitted by David Stockman via Contra Corner blog,
I mistakenly took Squawk Box off mute Friday morning. It was just in time to hear one of the regular anchors - the one who makes Joe Kernen sound slightly insightful by comparison - forecast a pick-up in global growth on the grounds that “China is recovering”.
Canada has never been more divided. With Vancouver being taken over by the rich Chinese, and Calgary nearing depression, roles have been dramatically reversed across Canadian provinces as spending in non-energy-producing regions hits a record high relative spending in those dependent on oil...
Home prices show the divide between Canada's haves and the have-nots... (as wealthy Chinese money floods into certain regions)...