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Germany Unveils "Cash Controls" Push: Ban Transactions Over €5,000, €500 Euro Note

Germany Unveils "Cash Controls" Push: Ban Transactions Over €5,000, €500 Euro Note

It was just two days ago that Bloomberg implored officials to “bring on a cashless future” in an Op-Ed that calls notes and coins “dirty, dangerous, unwieldy, and expensive.”

You probably never thought of your cash that way, but increasingly, authorities and the powers that be seem determined to lay the groundwork for the abolition of what Bloomberg calls “antiquated” physical money.

Frontrunning: February 3

  • Oil lifts stocks off lows, yen and low-risk debt in favor (Reuters)
  • Yes, this agaim: Oil gains after Russia says open to talking with OPEC (Reuters)
  • More forecasts: Oil Prices Could Jump 50% by the End of 2016 (BBG)
  • New Risks for Trump After Iowa Loss (WSJ)
  • Yuan Gap Widens Again as Depreciation Bets Swamp PBOC Fightback (BBG)
  • Germany Struggles to Assess Security Threats Ahead of Carnival Season (WSJ)
  • Marco Rubio becomes early hope for mainstream U.S. Republicans (Reuters)

Europe Falls, U.S. Futures Rise As Oil Halts Two-Day Plunge

Europe Falls, U.S. Futures Rise As Oil Halts Two-Day Plunge

While the biggest news of the night had nothing to do with either oil or China, all that mattered to US equity futures trading also was oil and China, and since WTI managed to rebound modestly from their biggest 2-day drop in years, continuing the trend of unprecedented, HFT-driven volatility which has far surpassed that of equities and is shown in the chart below...

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