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Submitted by Charles Hugh-Smith of OfTwoMinds blog, Privilege serves the same purpose–benefiting the few at the expense of the many–regardless of the system’s ideological labels. The righteous disgust with the status quo that spawned the broad-based campaigns of Bernie Sanders and Donald Trump is not unique to the U.S. Globally, those disenfranchised by the status […]Read More

As we warned previously, the devaluation, or breaking of the Saudi Riyal peg to the dollar, could be the black swan event for crude oil and the recent weakness in SAR forwards – while not as violent as Nigeria’s Naira – certainly signals a renewed market fear that breaking the peg is imminent. It appears […]

We were surprised to hear none other than legendary bond investor Bill Gross, who made billions going long bonds, admit to Bloomberg’s Erik Schatzker last night that he is starting to short credit, “a position that he said runs contrary to his instincts and training as an investor.“ The reason why Gross, who called the […]

It’s official: years of warnings that Obamacare will lead to dramatic increases in healthcare premiums are about to be validated. As the WSJ writes, big health plans stung by losses in the first few years of the U.S. health law’s implementation are seeking hefty premium increases for individual plans sold through insurance exchanges in more […]Read More

Last week we put out a chart that may have scared some investors. We stated that a gold pullback was imminent and we could expect the Gold BUGS Index to lose another 14% in gold miners before markets stabilize. In just three days, we have lost another 3% – this rapid decline is unprecedented as […]

On the heels of the 17-sigma beat in new home sales, pending home sales soared 5.1% MoM in April – 6.5 standard deviations above economist estimates of a 0.7% jump. Pending home sales rose for the third consecutive month in April and reached their highest level in over a decade, according to the National Association […]

The presumptive Republican presidential candidates is now the official Republican presidential candidate. Moments ago, AP calculated that Donald Trump on Thursday reached the number of delegates needed to clinch the Republican nomination for president, completing an unlikely rise that has upended the political landscape and sets the stage for a bitter fall campaign. Trump was […]

Submitted by Nick Cunningham via OilPrice.com, The OPEC meeting is only a week away, but the chances of a positive result are as remote as ever. Rising oil prices, the heightened rivalry between Saudi Arabia and Iran, and Saudi Arabia’s willingness to go it alone will make a deal all but impossible. First of all, […]

While Wall Street looked upon today’s Durable Goods report with caution, noting the substantial beat in the headline print which was entirely as a result of a surge in nondefense aircraft orders (read Boeing) which soared by 65%, there was substantial weakness below the surface especially in the core capex print, the capital goods orders […]

Nigeria has been tackling the problem of illicit drug production, trafficking and abuse with significant results over the years. Numerous spectacular drug seizures and high profile arrests have been recorded by the National Drug Law Enforcement Agency (NDLEA) since inception. Cannabis which is popularly known as hemp or marijuana was the only locally produced drug […]

Olisa Metuh (Being text of press statement by the family of Chief Olisa Metuh) The entire Metuh family has been following the issues regarding our son, Chief Olisa Metuh and his ordeal since his arrest, detention and arraignment by the EFCC since January this year. We are aware that the matter regarding our son is […]