Business

In our snap assessment of the ECB's decision yesterday, we highlighted some of the key highlights: the most important part of Draghi's monetary expansion was the inclusion of investment grade non-fin European corporate bonds, a necessary precondition to expanding QE by €20BN due to the scarcity of treasury collateral; the total €1.6 trillion universe of eligible Investment Grade bonds while sizable, is actually far less than it appears on the surface, that there is a "crowding out" danger as traders rush to sub-IG debt which may impair liquidity in the IG bond market next, and that many que

While the leaders of the Fed and other central banks claim that their extraordinary monetary policies haven't significantly increased inequality, economists with the world's most prestigious financial agency, the Bank of International Settlements - known as "the Central Banks' Central Bank" - just released a report showing otherwise.

BIS notes:

The economy of the United States was destroyed almost overnight.

As VisualCapitalist's Jeff Desjardins notes, more than 5,000 banks collapsed, and there were 12 million people out of work in America as factories, banks, and other shops closed.

Given China's new focus on a basket of currencies, rather than pegging to the dollar alone, today's record-breaking reversal in EUR has sparked a yuuge 300 pips rally in Offshore Yuan (from 6.5270 to 6.4940) pushing to its strongest level since mid-December. At the same time, Gold is accelerating as China opens, pushing up to $1288 - new 13-month highs. Most critical is we are within $5 of Goldman Sachs "short gold" stop at $1291...

Yuan surges to 3-month highs...

As Gold spikes to fresh 13-month highs...

Submitted by Nick Giambruno via InternationalMan.com,

They met in secret to plan a devastating attack...

Two powerful men, colluding at a palace in the Middle East.

In September 2014, U.S. Secretary of State John Kerry flew to Saudi Arabia. He was there to meet with King Abdullah, the country’s ruler and one of the richest men in the world.

Informed observers say Kerry and Abdullah drew up a plan at this meeting to destroy their common enemies: Russia and Iran.