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Chinese ‘Fake’ Trade Data Remains “A Bit Of A Mystery” Despite Clean-Up Efforts / by Tyler Durden on 07/29/2014 22:27

Over a year ago we first brought China’s ‘fake’ trade data and abundant discrepancies to the public’s attention and in December China’s State Administration of Foreign Exchange (SAFE) began clamping down on trade-financing on fabricated deals after the first crackdown failed to eliminate the deception. Now [...]

The Dollar and Yuan: No Contest…yet / by Marc Chandler / July 28, 2014

James Kynge writing in the Financial Times in early June (June 6, “US warming to the redback from China trade“) that “China’s renminbi is rapidly displacing the dollar as a trading currency not only in Asia and Europe but now also in the US home market.” [...]

China Meat Scandal Spreads: McDonald’s Japan Slashes Guidance / by Tyler Durden on 07/29/2014 18:30

We warned last week that the scandal over Chinese meat supplier OSI was spreading (and Asians were increasingly shunning western fast-food restaurants) and now, as The FT reports, McDonald’s Japan has pulled its full-year profit guidance on the back of falling sales. It had previously forecast [...]

China’s Billionaire Ex-National Security Chief Investigated For “Serious Disciplinary Violation” / by Tyler Durden on 07/29/2014 15:3

With an estimated net worth of $14 Billion, Zhou Yongkang, the man formerly in charge of China’s vast security apparatus, was one of the nine most senior politicians in China until 2012. But now, as The BBC reports, state media have announced he is [...]

China Raids Multiple Microsoft Offices, Media Demands “Severe Punishment” / by Tyler Durden / 07/28/2014 21:42 -0400

With Chinese state media calling for “severe punishment” against American tech firms for helping the U.S government to steal secrets and monitor China, Reuters reports that Microsoft offices in Beijing, Shanghai, Guangzhou and Chengdu were raided this weekend. Chinese officials declined to give [...]

FX: Stll Waiting / by Marc Chandler / July 29, 2014

To say that the foreign exchange market is quiet is to bemoan the obvious. What is particularly striking is that the euro’s range yesterday may have been among the smallest and today is matching it, thus far. According to Bloomberg data, yesterday’s range was 17 [...]

Is This China’s QE? / by Tyler Durden / 07/28/2014 22:45 -0400

Shortly after we exposed the real liquidity crisis facing Chinese banks recently (when no repo occurred and money market rates surged), China (very quietly) announced CNY 1 trillion of ‘Pledged Supplementary Lending’ (PSL) by the PBOC to China Development Bank. This first use of [...]

Ukraine Goes “Twilight Zone” / By Bill Holter / July 28th, 2014

I was away much of this past week and it was difficult to keep up with the news. Upon catching up I can only say that the Ukraine situation has entered the “Twilight Zone.” I say this because the back and forth really doesn’t [...]

They’re Screaming We’re Not Going to Let You Out / By Andrew Hoffman / July 28th, 2014

Andy Hoffman joins Rory Hall from The Daily Coin to discuss the 10 year Treasury yield, the bond market, negative GDP growth, big attack on gold and silver, the U.S. economy collapsing, home sales are dropping, China and Russia. To listen to this interview, please click [...]

China Is Headed Towards a Brutal Collapse In The Near Future / Joshua Krause / July 27th, 2014

When Greece fell into shambles a few years ago, many economists looked to their ‘debt to GDP’ ratio for an explanation. At over 100 percent, it seemed to be an obvious cause (now at around 150 percent). However, when looking around the world, many nations [...]

US Equities Flat While China Surges On More Stimulus And Bailout Hopes / by Tyler Durden / 07/28/2014 07:15 -0400

There has been little in term of tier 1 data releases to drive the price action so far in the overnight session which means participants focused on the upcoming US related risk events including the Fed, Q2 GDP and July Payrolls. This, combined [...]

Apocalypse Preview: Chinese River Turns Blood-Red / by Tyler Durden / 07/27/2014 22:37 -0400

Things in China are getting downright biblical.

First it was the floating animal apocalypse: who can forget the 16,000 floating pigs, followed by a thousand dead ducks, culminating with 5 dead black swans. But nothing quite beats the dramatic impact of the [...]

Whose Oil Will Quench China’s Thirst? / By Chris Dalby, / July 26, 2014

As the heir-in-waiting to the title of the world’s largest economy, China finds itself in a strange position in terms of its oil consumption.

In September 2013, China became the biggest net importer of crude, beating out the U.S. for the [...]

Art Cashin Warns Of Terrifying Black Swan & The Banking Crisis / July 25, 2014

Today 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management), warned King World News about a terrifying black swan, at least from the U.S. perspective, and also warned that the European banking crisis will see many more banks in dire trouble before [...]

The Great Manipulation of Financial Markets Seems to be Reaching its Limits / Philippe Herlin / July 25, 2014

The great manipulation of financial markets seems to be reaching its limits; bubbles are at their highest, and so are risks. The central banks’ money printing machines, along with interest rates kept on the floor, are working perfectly well: The yields on sovereign bonds are at historical [...]

Short Term Picture For Precious Metals Complex Is Mixed With Bullish Bias / By Taki Tsaklanos / July 24, 2014

Today price decline in precious metals is said to be led by the news out of China that gold demand declined 19.4% in H1 of 2014, as reported by the China Gold Association said.

From Reuters:

Production rose strongly in the same period as miners [...]

Where China Goes To Outsource Its Own Soaring Labor Costs / by Tyler Durden on 07/24/2014 20:17

30 years ago, the great outsourcing wave took millions of US low-skilled jobs and planted them right in the heart of China, which was about to undergo the fastest industrialization-commercialization-financialization experiment in history. $26 trillion in bank assets later, the world’s biggest housing bubble, [...]

Swiss & Chinese Central Banks Enter Swap Agreement / BY Martin Armstrong / July 24, 2014

The Swiss National Bank and the People’s Bank of China reached a currency swap agreement on Monday. While this is not a huge trend changer in the near-term, it demonstrates that our forecast for China to become the largest economy and to be the next [...]

Silver Tumbles Most In 6 Months / by Tyler Durden / 07/24/2014 13:58

Silver is down almost 3% today – its biggest drop since the end of January as precious metals both tumble back towards pre-June-FOMC levels. News on China demand appears to be the main catalyst according to desk chatter (as well as a break [...]

Weak Chinese Demand news undercuts Gold / By Dan Norcini / July 24, 2014

The Chinese trade group, China Gold Association, issued a report noting that total Chinese gold demand for the first half of 2014 fell by 136.91 tons to 569.45 metric tons. That is down 19% from the previous year same period.It seems a dueling bit of data [...]

Thoughts on Wild Swings in Price / Dan Norcini / July 23, 2014

It is both amusing and saddening at the same time to read the continued comments from the perma bulls in the gold community who bemoan every sharp fall in gold as the work of some sinister force working to deliberately keep the price of their beloved yellow [...]

A Chinese Gold Standard? / Dave in Denver / July 24, 2014 at 11:56

While the 70th anniversary of D-Day last month received a lot of attention, another event, in July 1944 — the Bretton Woods conference, named for the mountain resort in New Hampshire where it was held — [...]

China Manufacturing PMI Explodes To 18-Month High, Employment Drops 9th Straight Month / by Tyler Durden on 07/23/2014 21:55

Having shown 11 awkward-to-explain charts of the Chinese economy, exposed the liquidity crisis that still lingers just under the surface, and exposed the “discrepancies that abound” in China’s data, it was only right and proper in this new topsy-turvy normal that HSBC China Manufacturing PMI [...]

China Seals Off Yumen City After Outbreak Of Bubonic Plague / by Tyler Durden on 07/23/2014 18:15

With Colorado suffering from pneumonic plague, and the dreadfully sad report of Sierra Leone’s chief Ebola doctor contracting the virus, it appears China is taking no chances. As Yahoo reports, Chinese officials have blocked off parts of Yumen, a city in northwest China, preventing about 30,000 of [...]

Another Chinese Economic Problem: Sky-High Debt Ratios / By Staff Report / July 23, 2014

China’s terrifying debt ratios poised to breeze past US levels … The China-US sorpasso is looming … The sorpasso may instead be the ominous moment when China’s debt ratios overtake the arch-debtor itself … A a new report from Stephen Green at Standard Chartered argues [...]

SILVER OPIUM – THE EASTERN REVENGE / By Rory Hall, The Daily Coin / JULY 23, 2014

The banksters have understood and implemented their evil genius for well over 150 years. They knew during the opium wars in the 1700 and 1800′s and they know today. I believe the banksters are losing control of the current narrative, the same way [...]

Two-Thirds Of Chinese Consumers No Longer Trust Western Fast-Food As “Meat Scandal” Spreads Across Asia / by Tyler Durden / 07/23/2014 11:12

As if the Chinese meat scandal was not a big enough concern for Western fast-food firms, The WSJ reportsthat the crisis is spreading across Asia as Yum Brands and McDonalds sever links with US-owned Shanghai Husi Food Company, which is accused of selling expired beef and chicken, [...]

Insolvent Chinese Construction Company Gets Last Minute Bailout, Avoids China’s Second Bond Default / by Tyler Durden / 07/23/2014 08:21 -0400

It seems like it was only yesterday when China lied it would open up its bond market to real price discovery and unleash a wave of corporate defaults resulting from epic capital misallocation and central planning, consequences be damned. Well, one company, one [...]

Archduke Ferdinand Moment? / Andrew Hoffman / July 22nd, 2014

For years, we have highlighted the catastrophic global ramifications of Central bank generated inflation, particularly following the unprecedented post-2008 money printing spree that continues unfettered today. First to experience its horrific consequences were “Arab Spring” nations whose citizens spend the highest proportion of their [...]

Gold: If The Worst Is Over, What’s Next? / By Stewart Thomson / 22 July 2014

A number of top bank economists have turned bullish on gold in the past few months. That’s helping to boost confidence amongst thousands of Western gold community investors. Scotiabank and HSBC have lead the way on that front, and now top metals strategist Mike Widmer at [...]