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Is Italian bank Monte Die Paschi issung a voluntary debt to equity swap for their CoCo bonds?

Ever since the 2008 global financial crisis, banks and central banks have implemented several new and some would say insane monetary instruments to try to both keep the system afloat, and also to allow banks from having to stop the financial schemes which helped create the crisis in the first place.  From negative interest rates, direct monetization of debt, and even talk of banning cash, the processes inst ...

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China going full bore in a gambit to wean the world off the dollar

Last week while the United States was saturated with stories about fake 'Russian hacks', a fake Constitutional crisis regarding the potential of 'faithless electors', and the fake euphoria of Dow 20,000, China had signed new agreements with seven countries to facilitate them conducting bi-lateral trade outside the dollar.  And what makes this news extremely important is that there are now 23 economies that ...

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Dollar soars to 14 year high following the Fed’s rate hike as the Euro is now just 400 bps from parity

On Dec. 15 the dollar took another leg up to cross 103 on the index, securing its highest level in 14 years.  And this move comes one day after the Federal Reserve hiked the Fed funds rate by .25 bps for only the second time in the last decade. The dollar had actually been below 101 prior to yesterday's Fed announcement and has risen over 300 bps in less than 24 hours.  And this rapid move has now caused th ...

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German finance minister Schauble seeks to save EU by demanding Italy and Greece continue austerity or leave EU

Now that the people of Italy have spoken through their rejection of a national referendum to restructure the government on Monday, the rest of the European Union is on high alert for what could be the next Exit event from the coalition.  And while it appears that the European Central Bank (ECB) earlier today followed the Fed's lead in bailing out and backstopping negative markets as was done following the e ...

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Italy votes no: Referendum vote leads to Renzi resignation and the Eurozone on edge regarding the future of the coalition

Just as June 23 went down in history as a red letter day for 2017, so too is Dec. 4 a pivot point for both Italy and the European Union.  This is because the people of the Southern European nation chose to vote against a constitutional restructuring of their government, and it now starts in motion several new events that could lead to a banking collapse, a discarding of the Euro currency, and the beginning ...

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November jobs report takes fake news to its ultimate end as rate goes down but people without jobs goes up

On Dec. 2 the Bureau of Labor Statistics (BLS) published their second to last jobs report for the Obama administration and the results are something even George Orwell would cringe over.  This is because the modest increase of 178,000 new jobs isn't even the real story within the report,  but rather the fact that the unemployment rate fell a whopping .3% simply because the government erased 446,000 people f ...

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It’s beginning to look alot like 2007 as subprime loan defaults, massive consumer debt, and housing sales mirror start of bubble crash

Over the past seven to eight years, interest rates have been a major factor in allowing consumers, investors, and the government to expand credit to historic levels.  In fact, the government had not been above 100% of debt to GDP since the credit expansion that was needed to fight during World War II. But the problem with debt is that a day of reckoning always comes due at some point.  And just like it did ...

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Zimbabwe proves that if you don’t drain the swamp, you will keep doing the same things over and over

Seven years ago, Zimbabwe ended their run at being the laughing stock of the monetary world when they ceased printing their 100 trillion notes and instead chose to use the dollar as their primary currency.  And over the past seven years the African nation has also switched from using the U.S. dollar to instead using the Chinese Yuan, experiencing only stabilizing effects without any real growth in their eco ...

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Early numbers are in and so far Black Friday 2016 is worse than last year

Unfortunately for most retailers, the 2016 Christmas shopping season is not off to a good start.  According to early numbers out from this year's Black Friday event, sales at brick and mortar stores are down 3.4% from last year, and this continues a trend of declines in store traffic over the past three years. On the other side, sales made with online purchases continue to expand and are moving ever closer ...

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New study shows that the Reworking of trade deals with China is not just a luxury, but now a necessity

The beginning of the end for America's middle class began during the late 1990's and is now on life support following eight years of Barack Obama as head of the country.  And in that time the one nation who has benefited the most from NAFTA and GATT is the one with the largest rising middle class in the world. China. Yet coupled with this decline in high paying jobs because of corporations offshoring labor, ...

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Internet shopping having huge effect this Black Friday as retail stores see severe drop in traffic

Over the past five years internet retail portals such as Walmart.com, Amazon.com, etc... have been slowly eating into the amount of traffic and sales volume for brick and mortar retailers during the Christmas holiday shopping season.  Yet for the most part, shopping online had not replaced the euphoria of America's Black Friday phenomenon where individuals were willing to wait days or even weeks outside of ...

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French bank believes dollar will be at par with Euro soon as conversion hits 105 handle on Nov. 23

On Nov. 22, France's third largest bank Societe Generale announced that they believe the dollar will soon be at par with the Euro currency, and quite possibly as early as April of 2017 when French elections are scheduled to take place. Over the past two and a half years the Euro has fallen from 1.38 to the dollar back in April of 2014 to an inter-day low below 1.05 in early 2015.  It then rebounded back ove ...

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