Business

• Crude sinks 4 percent as market braces for more Iranian oil (Reuters)
• Plunge in crude oil prices send stock futures sliding (Reuters)
• Oil Slides, Deepening Gloom in Stocks as Bond Buyers Celebrate (BBG)
• China Stocks Enter Bear Market, Erasing Gains From State Rescue (BBG)
• Goldman Says It Will Pay $5.1b in U.S. Mortgage Probe (CBS)
• Friendly no more: Trump, Cruz erupt in bitter fight at Republican debate (Reuters)
• China to expand coverage of advantaged import tax policies nationwide (Xinhua)

   "We're gonna need a bigger Bullard"

    - overheard on a trading desk this morning.

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Hiltzik echoes MSM confusion on gold 

Written by Peter Diekmeyer (CLICK FOR ORIGINAL)

It appears the world is ganging up on The Fed as following China's recent clear and present threat should the USD strengthen, BoJ's Kuroda warned that further QQE might threaten the bank's finances - implicitly demanding moar from Yellen because he knows he's out of bullets.

China has vowed to plunge the world into an economic crisis by crashing the stock markets by 75%, which will be worst felt by Britain and America, a financial expert has warned.  The West is feeling the negative impact of the sinking value of the Chinese currency already, which has almost crippled British industry which can’t compete with China’s cheap exports. Experts are now predicting a financial “ice age” for the global economy which they say is coming soon.