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The Flipside To Rigged FX Markets: "The Most Consistent Thing Is Losing"
As today's latest example of pervasive, apparently endless criminality at the world's largest banks, where once again the shocked public is exposed to a culture of sociopathic, unchecked greed and...
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Russell Napier Declares November 16, 2014 The Day Money Dies
From Russell Napier of ERICIt is with regret and sadness we announce the death of money on November 16th 2014 in Brisbane, Australia ‘A mark, a yen, a buck, or a poundA buck or a poundA buck or a...
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Actavis Purchase Of Allergan Makes It A "$100 Billion Merger Monday"
This may not quite be the blow-off top in the merger bubble as companies rush to frontrun the ECB and buy whatever still isn't nailed, but it is getting close. Because while earlier today Baker Hughes...
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CDS Liquidity Set To Tumble As Deutsche Bank Exits IG, HY Trading
Back in 2009, Deutsche Bank salesman J.P. Rorech was the CDS salesman who, alongside Millennium PM Renato Negrin, were the first two traders accused by the SEC of insider trading using Credit Default...
View ArticleFrontrunning: November 20
Banks Had Unfair Advantage From Commodity Units (Bloomberg)Report Notes Deals Between Goldman, Deutsche and Others Drove Up Aluminum Prices (WSJ)Goldman, Morgan Stanley Commodity Heyday Gone as Units...
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An Inside Look At The Shocking Role Of Gold In The "New Normal"
From Paul Mylchreest of ADM Investor Service InternationalLong Nikkei/Short Gold: Profitable, dangerous and missed by everybody?Has the market completely missed a huge long/short trade which has helped...
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Total Derivatives Decline By 3% In Q2 To Only $691 Trillion
Who says macroprudential regulation doesn't work: according to the BIS, notional amounts of outstanding OTC derivatives contracts fell by 3% to "only"$691 trillion at end-June 2014. This is also...
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Andrew Hall, Phibro, Occidental
Andrew Hall is known as "The God Of Oil" by some floor traders. When he was to be paid a $100 million bonus, the Great Recession had just begun and anger toward banks prompted officials to reign in...
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The Oil-Price-Shock Contagion-Transmission Pathway
As we noted previously, counterparty risk concerns (and thus financial system fragility) are starting to rear their ugly heads. In the mid 2000s, it was massive one-way levered bets on "house prices...
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Nigeria, Belarus Halt All FX Trading As Central Bank Urges "Don't Panic"
Just because Russia has managed to stabilize its currency for the time being as crude tries to find a floor, that certainly does not mean the soaring dollar tantrum-cum-crude crash episode is anywhere...
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Belarus In Full-Blown Hyperinflation Panic: Blocks News, Online Stores; Bans...
"We have to do something with these Belarussian rubles," exclaims one Belarussian as she shops to turn worthless rubles (BYR) into physical assets. As AFP reports, The Belarussian currency was dragged...
View ArticleFrontrunning: December 23
Christmas rally enters sixth day in Europe (Reuters)Downing North Korea's Internet not much of a scalp (Reuters)North Korean Internet Access Restored After Hours-Long Outage (BBG)At U.N. council, U.S....
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Is The CDS Market Manipulated?
From Joshua Rosner of Graham FisherCredit Event, Or Not? Is Another Market Being Manipulated? (pdf)As investors and market participants become increasingly aware of the regulatory failures that allowed...
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Is Citi The Next AIG?
Earlier today, when we were conducting a routine check with the Office of the Currency Comptroller's on the total notional amount of derivatives held at the Big 4 banks in the context of the "JPMorgan...
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Is The "Other" Most Crowded Trade Of 2015 Starting To Crack?
With the recent collapse of Treasury yields, the massive short position in bonds has been dramatically unwound (though there is still plenty left). However, there is the other "most crowded" trade in...
View ArticleFrontrunning: February 23
Tsipras Tamed as Economists Declare Greece Loses Austerity Fight (BBG)Greece readies reform plans to first sign of leftist unrest (Reuters)Yellen Faces Congress Amid Direst Threat to Fed Since...
View ArticleFrontrunning: March 11
Fed Likely to Remove ‘Patient’ Barrier for Rate Increase as Soon as June (Hilsenrath) - which year?Clinton says used personal email account for convenience (Reuters)Euro sinks to 12-year lows as yield...
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Parasite Turns On Parasite: HFT Sues Other HFTs For "Egregious Manipulation"...
There was a time when those who dared to call out the massive Libor manipulation conspiracy (such as what Zero Hedge did with one of its first posts in 2009) for being a massive Libor manipulation...
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The Full Explanation Of How The ECB Broke Europe's Bond Market
It was almost three years ago to the day when Zero Hedge first explained the biggest problem facing Europe when it comes to unconventional monetary policy: the lack, not scarcity, but outright shortage...
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Meet The Relentless, Mystery Buyer Of Chinese Stocks Even As China's Economy...
The bad news for China is getting worse with every passing day. First it was purely in the financial realm, with both record capital outflows and a crashing housing market leaving the local...
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