Europe

It was another painful day for Turkish Lira longs.

Earlier today, in response to the broader USD strength overnight, the Turkish currency dropped to new record lows, sliding to 3.4214 and losing 10% of its value since the central bank's last meeting in October, before the Turkey’s central bank unexpectedly raised its one-week repurchase and overnight lending rates for the first time in almost three years, prompted by the crashing lira's impact on inflation, overriding Erdogan's recurring demands for lower borrowing costs.

One week after the BIS issued an unexpectedly stern, if completely ignored warning, that the surge in the USD is leading to an abrupt tightening in financial conditions around the globe, making the repayment of trillions in USD-denominated cross-border debt increasingly more difficult and suggesting that the Dollar index itself is the new "fear indicator", overnight another central bank, the European Central Bank warned that the risk of "abrupt" global asset market corrections "have intensified" on the back of rising political uncertainty, posing a threat to banks, stability and economi

While most global equity markets were subdued due to the US Thaksgiving holiday, the FX world was very busy overnight, marked by the relentless dollar surge on expectations of a rate hike not only in December but further in 2017, sending Asian currencies to the weakest level in 7 years: the Bloomberg-JPMorgan Asia Dollar Index reached 103.32, the lowest level since March 2009.

Submitted by Brandon Smith via Alt-Market.com,

As I noted in my last article World Suffers From Trump Shellshock - Here’s What Happens Next, there are two primary consequences of a Trump presidency that actually serve globalists and elites in the long run.

The Sarajevo ‘War Hostel’ takes tourists back in time to a dark period in Europe’s resent history during one of its bloodiest sieges. Tourists passing through Bosnia-Herzegovina are given the opportunity to experience the siege of the Bosnian capital during the Balkan conflict in the 1990s. Guests will spend their time in war-time conditions, sleeping on sponge mattresses under military blankets and reading newspaper clippings by candlelight. RT.com reports: The hostel is run by a family who survived the three-year-long siege.