This Is What The Death Of A Nation Looks Like: Venezuela Prepares For 720% Hyperinflation
For citizens of Nicolas Maduro's socialist paradise the news is terrible, and getting worse with every passing day.
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Bank (Un)earnings: Why FICC Is Shrinking And Will Continue To
Submitted by Jeffrey Snider via Alhambra Investment Partners,
Moody's Just Put Over Half A Trillion Dollars In Energy Debt On Downgrade Review
One week ago, in the aftermath of the dramatic downgrade to junk of Asian commodity giant Noble Group, we showed readers the list of potential "fallen angel" companies, those "investment "grade companies (such as Freeport McMoRan whose CDS trades at near-default levels) who are about to be badly junked, focusing on the 18 or so US energy companies that are about to lose their investment grade rating.
Attention Finally Turns To Saudi Arabia's "Secret" US Treasury Holdings
In November of 2014, we announced the quiet death of the petrodollar.
The system which underwrote decades of dollar dominance and kept a perpetual bid under USD assets met an untimely demise when the Saudis moved to bankrupt the US shale complex by deliberately suppressing oil prices.
The implications, we said, would be far-reaching.
Maduro "Wake Up" Call For OPEC As Venezuela Crude Crashes To 13 Year Lows
Venezuela's crude oil basket price collapsed to as low as $20.20 yesterday, according to the socialist utopia's President Maduro. Having already "passed the point of no return," Maduro rages that OPEC producers appear to be "finally waking up" to what they have unleashed noting that, according to him, Russia's Putin has agreed to "work on oil price issues."
More jawboning and hope...