Politics

Via The Daily Bell

 

Republican attack on Fed casts doubt over global bank rules Trump-era co-operation uncertain as congressman criticises deals with ‘foreign lands’ … The future of cross-border co-operation on bank regulation in the Trump era has been thrown into doubt, with domestic pressure mounting on the US Federal Reserve and a senior member of the House of Representatives calling on the central bank not to negotiate new rules at “secretive” international bodies. -Financial Times

More than a dozen lawsuits and counting have been filed against President Donald Trump’s executive order that temporarily blocks visas from Iraq, Iran, Syria, Libya, Sudan, Somalia and Yemen.  As of last Friday, one such lawsuit heard by Federal District Judge James Robart, a Bush appointee, in Seattle effectively blocked the enforcement of the executive order nationwide (see here for details: "Judge Blocks Trump Travel Ban Nationwide; White House Vows To Challenge 'Outrageous Order'"). 

Seemingly taking a page out of Europe's idiotic government decisions, George Washington University Law Professor John Banzhaf is urging President Trump to go slow on appealing a court's rejection of the administration's travel ban and instead, follow Germany's example and put GPS ankle bracelets on visitors from the seven targeted nations until a final decision is made.

After two weeks of vigorously signing executive orders, 20 as of February 6, undoing Obama-era regulations, and engaging foreign leaders in often heated exchanges by phone, Trump is gearing up to make offshore visits to, as Axios puts it, "reedem himself as a diplomat" in coming months. According to the AP, his phone call readout reveal significant upcoming overseas travel, "and Europe is the destination."

Some details: "Trump has been burning up White House telephone lines calling his world counterparts and, during those talks, has committed to several trans-Atlantic trips."

Just as ECB President Mario Draghi states unequivocally that ECB QE policy has worked and has "eliminated fragmentation," French presidential candidate Fillon's apologetic press conference has sparked major disturbances in the core of Europe... fragmenting France from Germany by themost since September 2012...

Initial relief quickly turned to selling panic...

Sending OAT yields to their widest to Bunds since September 2012.