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Archive Monthly Archives: January 2018

Venezuela Is Recruiting 'Miners' For Its Cryptocurrency

Authored by Tsvetana Paraskova via OilPrice.com, Venezuela is moving ahead with plans to “overcome the financial blockade” by launching an oil-backed cryptocurrency known as Petro, and is now recruiting miners nationwide.   The Unique Registry of Digital Mining that Venezuela has created will be open until January 21, according to local newspaper El Impulso. Registration […]

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Bannon's Target Isn't Trump, It's Still Kushner

Via GEFIRA, The former Chief Strategist Steve Bannon fires up the feud against his nemesis during the White House days, Jared Kushner.   The January 3rd edition of the British newspaper Guardianopens with “explosive revelations”. Michael Wolff interviews Steve Bannon about the latter’s book “Fire and Fury: inside the Trump White House”, which calls Donald […]

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Fed Chair Powell's Stunning Admission: "The Fed Has A Short Volatility Position"

For years, market watchers and Fed skeptics had warned that the record low volatility “blanket” that has fallen like a pall over the comatose market was the result of Fed actions, both direct or indirect. And while they mostly spoke metaphorically (although back in 2012 we observed a distinct shift in the VIX futs  when […]

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Survey Shows Majority Of Pensioners Have No Idea Their Pensions Are Underfunded

Over the past several years, we’ve written a countless number of posts on the precarious financial situation of numerous state and local public pensions around the country all while frustratingly wondering how the massive $3-$6 trillion dollar ticking time bomb doesn’t seem to be that much of a concern to frothy asset markets.  As it […]

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Chaos Strikes As 1.4 Million Afghans Have 30 Days To Leave Pakistan

On Wednesday, the Pakistani government ordered 1.4 million Afghan refugees to leave the country in 30 days. According to DAWN, the oldest English-language newspaper in Pakistan, this is the sixth extension given to refugees, which the last expired on December 31.   The announcement was made by the National Security Committee and approved by the federal cabinet, which […]

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Venezuela Forced To Pay For Medicine With Diamonds And Gold

Venezuela’s government has nearly exhausted its foreign exchange reserves and its citizens have resorted to mining bitcoin  and fashioning ad hoc neighborhood currencies  to facilitate day-to-day transactions. But the cash crunch that has helped worsen the country’s economic crisis is finally forcing the government to make an unusual request of its trading partners, including pharmaceutical […]

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"Thank You, Mr President": Michael Wolff Thanks Trump For Book's Accelerated Release

Having unleashed a firestorm of controversy which has (so far) culminated in the dramatic and terminal split between president Trump and his former chief advisor, Steve Bannon, author Michael Wolff thanked President Trump on Thursday after attention from the White House helped prompt Wolff’s publisher to accelerate the release of his new book about the […]

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Homeland Security Data Breach Exposed Over 240,000 DHS Employees In "Unauthorized Exfiltration"

Over 240,000 current and former Department of Homeland Security employees had their personal details compromised in a data breach discovered in May, 2017, while conducting an ongoing criminal investigation, in what the agency is calling a “privacy incident.” DHS listed a workforce of 229,000 in 2017, so we assume the breach affected most or all current employees. While conducting an internal […]

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Global Commodities Surge To Longest Win Streak In History

The Bloomberg Commodity Index, which tracks returns on 22 raw materials, posted an unprecedented 14 days of gains to Wednesday, closing at the highest since February. In fact, the global commodity index has not had a down day since The Fed hikes rates in December…   (So, commodities are soaring and the USD plunges as […]

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North Korean Ballistic Missile Accidentally Hit A Local Town

An intermediate-range ballistic missile launched by North Korea back in April accidentally struck a North Korean town, causing an explosion and possibly casualties, according to a report in the Diplomats.   The news comes  after North Korean leader Kim Jong Un agreed to reopen a hotline between North and South Korea, allowing them to resume […]

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