After months of "smoking guns" and conspiracy theory dismissals, a Singapore-based Deutsche Bank trader (at the center of fraud allegations) finally confirmed (by admitting guilt) what many have suspected - the biggest banks in the world have conspired to rig precious metals markets.
Singapore has injected nitrous into its reputation as a playground for the superrich after a local used-car dealer launched a "vending machine" with 60 luxury cars, including Bentleys, Ferraris and Lamborghinis, on offer. Used car seller Autobahn Motors opened a 15-story showroom in December in a futuristic looking building, dubbing it the "world's largest luxury car vending machine," according to Reuters, which interviewed Gary Hong, the company's general manager.
Jim Rogers Buying Gold Bullion On Dips
Following Q3's 2% contraction, and with analysts' highest expectation at +5.1% (StanChart), Singapore GDP grew at a shocking 9.1% in Q4 QoQ.
This is the biggest QoQ growth since Q1 2012...
This was four standard deviations above average estimates.
These are preliminary numbers based on the first two minths of the quarter but the rebound was seemingly based on China's exuberance...
Because domestically:
One week ago, we showed the latest MarineTraffic update of the unprecedented congestion of crude oil tankers located off the coast of Singapore, together with an extended analysis of what is causing this and what are the implications.