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By Tyler Durden, Oil prices have been volatile so far today but are higher for now after dropping on headlines from Bloomberg reporting that the International Energy Agency plans to deploy 60 million barrels of crude on top of the huge stockpile release already announced by the Biden Administration. Overnight saw dismal data from China which reinforced demand anxiety. […]
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From ZH Just days after Germany reported the highest inflation in generation (with February headline CPI soaring at a 7.6% annual pace and blowing away all expectations), giving locals a distinctly unpleasant deja vu feeling even before the Russian invasion of Ukraine broke what few supply chains remained and sent prices even higher into the stratosphere… … […]
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From ZH: Update (16:00ET): The Biden administration confirmed a record large Strategic Petroleum Reserve release of 180 mb over the next six months to fight the “Putin price hike at the pump”, with the potential for other countries to release 30 to 50 mb. As noted earlier, while such a release will help trim prices […]
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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 […]
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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 […]
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By tyler Durden, Update(15:55ET): Nothing to see here… only the President of the United States speaking at an emergency summit of NATO heads making somewhat overly casual sounding references regarding likely massive energy and food shortages… “It’s going to be real,” Biden said at a news conference in Brussels. “The price of the sanctions is not just imposed […]
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From ZH A few weeks have passed since the investing public received an update on the SEC block trading probe that had captured Wall Street’s attention before the market ructions that briefly sent the Nasdaq into a bear market earlier this month emerged. As we learned earlier this year, the probe had ensnared Morgan Stanley […]
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Authored by Mark Jeftovic via BombThrower.com, The game theory dictates that Bitcoin will become a global reserve asset Some time around 2010 I took a course at the Ben Graham Center for Value Investing at UWO (University of Western Ontario, in London, Canada), taught by the eminent Dr. George Athanassakos. He was the guy who unleashed a […]
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From ZH Russians who want to convert their rapidly devaluing rubles, as Joe Biden was quick to point out today… … into dollars or any foreign currency, are stuck for at least the next six months In a statement on Tuesday, the Bank of Russia banned banks from selling cash currency to citizens who do […]
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