After soaring over 100% in the last 3 weeks, Sasa Polyster Sanayi - Turkey's best-performing stock of the year - crashed 19% at the open after regulators admitted investigations into potentially fraudulent transactions.
The regulator cited trading irregularities between March 24 and May 23, when the stock more than doubled to become the top performer on the Borsa Istanbul 100 Index.
With Mario Draghi praising the European economy in his quarterly speech at the European Parliament, albeit conceding that inflation is still too low for the ECB to remove its unprecedented monetary support, one would be left with the impression of a slow, steady European recovery, also explaining the recent record inflow into European stocks. Alas, as is often the case, the full story is just below the surface. And it is here that a big problem is emerging.
Submitted by Ronan Manly, BullionStar.com
Given the very strong price appreciation of Bitcoin recently, Bitcoin holders who are thinking of diversifying or taking some profits on their Bitcoin positions may be interested to know that in addition to transacting in US Dollars, Singapore Dollars, and Euros, BullionStar also accepts Bitcoin as a payment option for its precious metals products, and has done so since May 2014.
Bitcoin Price in US Dollars, May 2017
Authored by Charles Hugh Smith via OfTwoMinds blog,
There are multiple sources of friction in the Perpetual Motion Money Machine.
We've been playing two games to mask insolvency: one is to pay the costs of rampant debt today by borrowing even more from future earnings, and the second is to create wealth out of thin air via asset bubbles.
In today's only major risk event, at 3pm CET (9am ET) Mario Draghi will hold his quarterly hearing before the European Parliament, and his final scheduled appearance before next week’s monetary-policy decision, in which the ECB president will be pressed about his plans for stimulus withdrawal. And, as has been the case in recent months, Draghi will respond that while euro-area data has been improving (this week may show the strongest economic confidence in a decade and the lowest unemployment since 2009) Draghi can still point to consumer prices that are struggling to lift off.