Russian Central Bank Eases Capital Controls As Ruble Erases Losses

By Tyler Durden, Now that the Russian ruble has erased all of its post-incursion losses… …the Russian Central Bank decided on Friday that it would loosen restrictions on the transfer of funds abroad, much to the relief of ordinary Russians (particularly the wealthy, as well as the Middle class, who have increasingly been turning to […]

Continue Reading

JPMorgan Admits Central Banks Need A Recession “To Cure Inflation”

By Tyler Durden, Over the past few months we have repeated a statement which – because it is controversial and because it is true – sparked feigned outrage among the financially illiterate macrotourists (which these days is the vast majority of the financial commentariat): we said that in light of the galloping inflation which has […]

Continue Reading

Green Dot, PayPal & Square Shares Slide As Apple Plans To Bring Financial Services ‘In House’

By Tyler Durden, As Apple prepares to launch new financial services (including its Apple ‘Buy now, pay later’ program), the company is reportedly planning on cutting ties with its financing partners and instead bring all financial services “in house”. While Apple shares rallied ever-so-briefly before returning to unch on the day… …the news rattled shares […]

Continue Reading

Shutting Canadian Pipeline Would Cost US Consumers $23.7 Billion More In Fuel Costs: Report

By Tyler Durden, Authored by John Haughey via The Epoch Times (emphasis ours), A recently published analysis by a consumer advocacy nonprofit maintains that shutting a 4.5-mile section of a nearly 70-year-old pipeline that spans the Great Lakes from Wisconsin to Ontario would impose $23.7 billion in higher fuel costs on families and businesses in Indiana, Michigan, […]

Continue Reading

Dubai’s Economy Booms As Wealthy Russians Seek Refuge In Local Property Market

By Tyler Durden, A couple of weeks ago, we highlighted a report claiming that crypto firms in the UAE (which is fast becoming a hotbed for the regional crypto industry) had seen a massive influx of demand from brokers trying to liquidate billions of dollars’ worth of crypto on behalf of wealthy Russian clients, in the […]

Continue Reading

White House Unveils 20% “Billionaire Minimum Tax” Proposal In 2023 Budget

By Tyler Durden, As President Biden struggles to revive his domestic agenda after Sen. Joe Manchin torpedoed ‘Build Back Better’, the White House revealed on Saturday evening that it would include a proposal to impose a “minimum tax” on all families (and individuals) with more than $100 million in assets in its 2023 budget proposal, […]

Continue Reading

Brent Soars Above $120 Amid Short Squeeze As Trafigura Says Oil “Will Hit $150 This Summer”

By Tyler Durden, Oil pushed higher ahead of high-level meetings that may result in fresh sanctions on Russia, and as a vital Black Sea terminal may be disrupted for weeks following storm damag. Overnight, Reuters reported that Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium (CPC) from the Black Sea may (read: will, now […]

Continue Reading

Biden Meets With CEOs To Discuss Russian Invasion Of Ukraine, Price Increases

By Tyler Durden, Authored by Katabella Roberts via The Epoch Times (emphasis ours), President Joe Biden and other White House officials met with CEOs of leading companies on Monday to discuss Russia’s invasion of Ukraine and what can be done to mitigate the burden of increasing prices on Americans brought about by the war. Secretary of Treasury Janet […]

Continue Reading

Hedge Funds Sell Record 1 Billion Barrels In Oil Futures Just As Prices Explode Higher

By Tyler Durden, By John Kemp, senior market analyst at Reuters For the second week in a row, investors trimmed bullish petroleum positions amid elevated volatility, with prices oscillating between the twin threats posed by sanctions-driven supply disruptions and a demand-destroying recession. Hedge funds and other money managers sold the equivalent of 36 million barrels in […]

Continue Reading

Nearly Half Of Americans Plan To Save Tax Refunds As Buffer Against Rising Prices

By Tyler Durden, The US federal income tax deadline is fast approaching, and in a sign that US taxpayers are desperate for cash, the IRS has already received 45.4 million individual returns as of Feb. 25, a 0.3% increase from the prior season. Meanwhile, the newest LendingTree survey of more than 1,000 taxpayers showed that 46% of […]

Continue Reading