As reported last night, now that the PBOC has devalued the Yuan to a level China's central bank is comfortable with, if only for the time being,and having done so by unleashing a "murderous" short squeeze "to deter bearish bets and helping to stabilize equity markets", manifesting itself in the offshore Yuan 1 week deposit rate exploding to a record 82%...
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Comex Registered Silver Inventories Plunge Nearly 10% In One Day
Posted with permission and written by Steve St. Angelo, SRSrocco (CLICK FOR ORIGINAL)
The decision to put U.S. military forces on “high alert” in South Korea shows that they are gearing up towards war with Russia and China, according to political activist Mike Billington. Billington says that the world is on the brink of an economic crisis that only China can survive. A fact deemed intolerable by the United States.
Jamie Dimon, JP Morgan Chase Brian T. Moynihan, Bank of America Michael Corbat, Citigroup
Gentlemen:
On Friday, I attended a digital money summit at the Consumer Electronics Show. I am writing to you to warn you about the disruption that is about to occur in banking. There are many startups (and larger companies too) that are gunning for you. Perhaps you have watched what Uber has done to the taxi business? Well, these guys are planning the same thing for the banking business.
A month after we first noted the major redemptions at Avenue Capital Group's credit fund (note this is a different fund from Third Avenue), and just one trading day after CEO Marc Lasry strolled arrogantly on to CNBC and told the public that "I don't think it's a time to panic, I think it's actually a time where you've got opportunities out there," Morningstar reports the Avenue Credit Strategies Fund has failed to report asset levels since about mid-December.
As we noted first in mid-December...