Via EvergreenGavekal.com,
“Betting against gold is the same as betting on governments. He who bets on governments and government money bets against 6,000 years of recorded human history.”
– Charles De Gaulle, Leader of the French resistance during WWII and 18th President of France
SUMMARY
Over the past two weeks, we’ve begun to document (see here and here) what may end up being a dramatic unwind in the CLO market.
Supply all but vanished in the wake of the crisis but staged a comeback starting in 2012 and by 2014, issuance was running at a $125 billion per year clip. As we noted last week, that’s roughly the equivalent of how much auto loan-backed paper came to market last year.
With CDS markets implying around a 40% probability of default, Moody's has issued a warning over Valeant's deleveraging prospects (and ability to deliver sustainable growth) putting $31 billion of biotech debt on watch for downgrade. VRX bonds are down dramatically on the day.. not the forst day back at work Pearson was hoping for.
Submitted by James Stafford via OilPrice.com,
With lithium prices skyrocketing beyond wildest expectations, talk heating up about acquisitions and mergers in this space and a fast-brewing war among electric car rivals, it’s no wonder everyone’s bullish on this golden commodity that promises to become the ‘’new gasoline”.
Moreover, land grabs, rising price predictions, and expectations of a major demand spike are leaping out of the shadows of a pending energy revolution and a new technology-driven resource era.
A 500-page Security Council report released this weekend warns that the United States is about to become embroiled in a coup in which Freemasonic forces led by Donald Trump are going to launch a deadly attack on the Federal Reserve System and shadowy elite. Following the 2008 financial collapse which benefited “shadow government”, an American-British Freemason cabal rose to power, headed by Donald Trump, in order to restore order to the chaos.