In early November 2017, we returned to one of our favourite subjects, systemic risk in China related to its big four highly-indebted conglomerates, HNA, Anbang, Evergrande and Dalian Wanda. In particular, we asked whether the extortionately high coupon of 9% on an HNA dollar bond issue, with less than one year to maturity, marked the beginning of China’s Minsky moment?
The Securities and Exchange Commission is stepping up its long-overdue crackdown on shady initial coin offerings that are churning out suckers at a record clip with one simple promise: Invest in our coin and you, too, can receive an astronomical IRR just like your savvy cousin who bought a handful of bitcoins back in 2011 and decided to hold on for dear life.
Content originally published at iBankCoin.com
36 year old e-commerce entrepreneur Yusuke Mitsumoto had an idea: “what if I pay people instantly for their used goods and then trust them to give them to me?”
Crazy, right?
Mitsumoto launched an app in June to test the idea, quickly realizing that that people – surprise – went for the money, putting him on the hook for $3.2 million (360 million yen).
As monthly refugee admissions into the United States lap the last few months of Obama's administration, the stark changes enacted by the Trump White House are more apparent than ever with admissions down a staggering 83% in the first two months of fiscal 2018 (October and November) compared to the first two months of fiscal 2017.
As CNS News points out, a total of only 3,108 refugees were admitted in October and November down from the 18,300 refugees who were admitted in October and November of last year.
The Top?
Bonds & bullion remain bid post the Ross Rout as Nasdaq sinks...