China warns that foreign inspired Islamism is expanding throughout China and threatening the “rule of law.” China’s religion tsar warns that “foreign Islam” is infiltrating “Chinese Islam” posing a threat to national security. Beijing recently ordered the population of a Muslim-majority region to hand in their passports to police.
European shares dipped and U.S. equity-index futures (-0.3%) pointed to a lower open as traders questioned the stability of the Italian banking sector ahead of next weekend's referendum as well as the longevity of the Trumpflation rally, pressuring the dollar, sending the USDJPY sliding as low as 111.355 overnight, before rebounding over 112. That was the dollar's biggest fall against its Japanese rival since October 7 and against a basket of top world currencies it was the greenback's worst day since November.
Submitted by Koos Jansen from BullionStar.com
Withdrawals from the vaults of the Shanghai Gold Exchange, which can be used as a proxy for Chinese wholesale gold demand, reached 1,406 tonnes in the first three quarters of 2016. Supply that went through the central bourse consisted of at least 905 tonnes imported gold, roughly 335 tonnes of domestic mine output, and 166 tonnes in scrap supply and other flows recycled through the exchange.
Core Supply & Demand Data Chinese Gold Market Q1-Q3 2016
UK citizens have been stripped of their right to any online privacy, with a new law making the British public subject to 24/7 draconian surveillance that surpasses the restrictions placed on Chinese citizens. China can now boast that their citizens enjoy more privacy rights than users in the UK following the Snoopers’ Charter bill which was passed in Parliament last week. The new law introduces unprecedented surveillance and hacking powers, awarded to a large list of government agencies.
Back in March, when China's various forms of soft capital controls had failed to stem China's relentless capital outflows, we reported that "bizarro M&A" deals were rapidly becoming "China's Most Innovative Capital Outflow Yet." We pointed out several M&A deals that simply made no sense from the fiduciary perspective of a rational buyer, and had all the signs of a panicked attempt to park cash offshore in the form of mergers and acquisitions with zero regard for cost or return on investment. Among these were: