United States

Submitted by Eric Bush via Gavekal Capital blog,

The gold/silver ratio recently took out 2009 highs and the gold/copper ratio is at its highest level since 2009. This is a negative signal that US inflation, using CPI, could be headed for another leg lower. Since 2008, the gold/silver ratio has had a -73% correlation to the year-over-year change in US CPI (with a 2-quarter forward lag for the gold/silver ratio) . So as the gold/silver ratio increases, the year-over-year change in the CPI tends to fall.

Washington Launches Its Attack Against BRICS

Paul Craig Roberts

Having removed the reformist President of Argentina, Cristina Fernandez de Kirchner, Washington is now disposing of the reformist President of Brazil, Dilma Rousseff.

For the latest indication of how bad the recession in the US sector field is, we took a look at last night's Schlumberger results which were modestly better than expected, beating expectations of $0.37 by one cent, however as usual the non-GAAP adjusted bottom line did not tell the full story. The Company's net income plunged nearly 50%, to $501 million, or 40 cents a share, from $975 million, or 76 cents, a year earlier. 

According to the British NGO, War on Want, the real reason why Obama wants Britain to stay in the EU is to impose the TTIP deal on Europe They warn that the US President is currently in the UK to force the “toxic” Transatlantic Trade and Investment Partnership deal on Britain, a move which would allow US firms to demolish the state health system and more… Obama penned an opinion column in Britain’s Daily Telegraph newspaper where among other things he outlined why he believes Britain should remain in the European Union (EU).

Just as US equity futures were about to roll over following some very substantial misses yesterday by the likes of Google, Microsoft, Starbucks and a plunge in Visa shares, overnight who came to the markets' rescue but the BOJ, when shortly after midnight Bloomberg reported that "according to people familiar with talks at the BOJ" which is the traditional keyword for a BOJ source testing out the market's reaction, Japan's central bank may "help" local banks to lend by offering a negative rate on some loans.