Posts Tagged ‘turkey’

Friday Fakery – How Many Countries are Faking Economic Data?

I forgot to talk about something important yesterday.

Turkey was caught FAKING their trade data, with Prime Minister Erdogan, working with Economic Minister Caglayan LAST YEAR to manipulate their $800Bn economy by sending gold overseas to boost their export numbers.  How a team that included Turkey’s economy minister sought to manage the current account deficit, as the gap is called, by juicing exports to Iran is laid out in a 300-page document prepared by Turkish investigators in 2013. Caglayan and his collaborators also came away with tens of millions of dollars in bribes, according to the document, which has been cited in parliament by opposition lawmakers

The covert efforts that Caglayan and his associates undertook eventually swelled to a multi-billion dollar enterprise that reached from Ghana to China, according to the investigation. Tons of gold flowed from Turkey to Iran, much of it via Dubai. That freed up Iranian money trapped in Turkish banks, in turn boosting Turkish exports.

When the gold trade was foiled by tightening American sanctions starting in July 2013, Sarraf and his collaborators kept exporting. They sent thousands of tons of overpriced — and sometimes fictitious — food onto ships steaming between Dubai and Iran, according to the document.

That's how things are being done in the World's 18th-largest economy and, notice CHINA (3rd) is one of the countries participating in this scam, as is Iran (21st) and Dubai in the UAE (30th).  We already know China is involved in all sorts of economic manipulation, including building entire empty cities just to boost their GDP numbers.  China, in fact, is in the midst of another set of scandals, with tens of Billions (GS estimates $160Bn) in bank loans backed by silver and copper collarteral that does not, in fact, exist (maybe they "got it" from Turkey?).  

So what is the REAL Global GDP?  Clearly they aren't manipulating the numbers LOWER, so
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The Road to World War III – The Global Banking Cartel Has One Card Left to Play

The Road to World War III – The Global Banking Cartel Has One Card Left to Play

By David DeGraw (h/t ZH)

The following is Part I to David DeGraw’s new book, “The Road Through 2012: Revolution or World War III.” This is the second installment to a new seven-part series that we will be posting throughout the next few weeks. You can read the introduction to the book here. To be notified via email of new postings from this series, subscribe here.

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Editor’s Note: The following is Part I to David DeGraw’s new book, “The Road Through 2012: Revolution or World War III.” This is the second installment to a new seven-part series that we will be posting throughout the next few weeks. You can read the introduction to the book here. To be notified via email of new postings from this series, subscribe here.

I: Economic Imperial Operations

The Road to World War III - The Global Banking Cartel Has One Card Left to PlayWhen we analyze our current crisis, focusing on the past few years of economic activity blinds us to the history and context that are vital to understanding the root cause. What we have been experiencing is not the result of an unforeseen economic crash that appeared out of the blue with the collapse of the housing market. It was certainly not brought on by people who bought homes they couldn’t afford. To frame this crisis around a debate on economic theory misses the point entirely. To even blame it on greedy bankers,…
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The Enemy Is At Home

The Enemy Is At Home

Courtesy of Mish 

Here is a short video of a speech given by a military soldier explaining the simple truth as to why we are actually in Iraq.

Why are we at war?
War is profitable, that’s way.
It matters not how many die, as long as the warmongers make a profit on it.   

Inquiring minds are noting increasing resentment against US militarism in places some might least expect. Please consider Thousands protest in Tokyo against U.S. military presence in Japan

Thousands of protesters from across Japan marched today in Tokyo to protest against U.S. military presence on Okinawa, while a Cabinet minister said she would fight to get rid of a marine base Washington considers crucial.

Some 47,000 U.S. troops are stationed in Japan, with more than half on the southern island of Okinawa. Residents have complained for years about noise, pollution and crime around the bases.

Japan and the U.S. signed a pact in 2006 that called for the realignment of American troops in the country and for a Marine base on the island to be moved to a less populated area.

But the new Tokyo government is re-examining the deal, caught between public opposition to American troops and its crucial military alliance with Washington.

On Saturday, labor unionists, pacifists, environmentalists and students marched through central Tokyo, yelling slogans and calling for an end to the U.S. troop presence.

They gathered for a rally at a park – under a banner that read ‘Change! Japan-U.S. Relations’ – for speeches by civil leaders and politicians.

Prime Minister Yukio Hatoyama has repeatedly postponed his decision on the pact, with members of his own government divided on how to proceed.

over the next few months we must put all of our energy into achieving victory,’ Cabinet minister Mizuho Fukushima said at the rally, to shouts of approval from the crowd.

Given that the US can no longer afford to be the world’s policeman, this is an extremely welcome event. Let’s hope it spreads.

Germany, Turkey, Philippines, and all 150 countries where US troops are stationed, please do us, yourselves, and the world a favor by kicking US troops out.

Mike "Mish" Shedlock

 


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Thanksgiving Dinner Costs Less to Make This Year; Recovery or Not, Japan Deflation Concerns Mount

Thanksgiving Dinner Costs Less to Make This Year; Recovery or Not, Japan Deflation Concerns Mount

Vinyl Ready Art - Holidays

Courtesy of Mish

Japan is off and running or so they say (for the nth time in 20 years). Yet inquiring minds will be quick to note Japan Deflation Concern Rises Even as Growth Quickens.

The acceleration of Japan’s economy to the fastest growth pace in more than two years masked a slide in prices of goods and services that threatens to temper the nation’s recovery.

The domestic demand deflator, a measure of price levels that excludes the cost of imports, fell 2.6 percent in the third quarter from a year earlier, the most since 1958, Cabinet Office figures showed yesterday in Tokyo. At the same time, gross domestic product jumped 4.8 percent, the most since early 2007.

Sustained price declines threaten to curtail a corporate- profit rebound that’s already been insufficient to spur a rally in Japan’s shares this quarter. The report prompted Deputy Prime Minister Naoto Kan to say the government may outline an emergency-spending package as soon as today, adding that “I’m concerned we’re entering into a deflationary situation.”

“This isn’t sustainable growth and the government knows it — that’s precisely why they’re talking about the GDP deflator,” said Junko Nishioka, chief economist at RBS Securities Japan Ltd. in Tokyo.

Consumer prices in the world’s second-largest economy have fallen for seven straight months, undermined by the deepest recession in the postwar era. Even after seven months of gains in factory output, about one third of Japan’s factories sit idle.

“It might be a decade before the job market returns to the level of health we had a year or two ago,” he said. “The number of jobs may recover but not wages. It’s very fragile.”

A price war over jeans is a sign of that fragility. Discount retailer Don Quijote Co. last month started selling jeans for 690 yen ($7.70), undercutting Aeon Co., Japan’s largest supermarket chain, which has been offering them for about $9. Fast Retailing Co., the operator of Uniqlo stores, started the battle in March with pairs at $11.

“Japanese domestic demand is still dependent on price declines to grow,” said Naomi Fink, a strategist at Bank of Tokyo-Mitsubishi UFJ Ltd.

Good News For Turkey Buyers

In the US, Thanksgiving Dinner Costs Less


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Phil's Favorites

The False Breakout

 

The False Breakout

Courtesy of 

Did a lot of bullishness just get trapped above 2815, the S&P 500’s previous resistance level that appeared to have been vanquished recently? Here’s Jon Krinsky of Baycrest Partners with my Chart o’ the Day:

Jon goes on to note that “Overall breadth remains a concern (just 38% of R3K above 200 DMA), and Friday’s 87% NYSE down volume day (highest since Dec. 4) is perhaps indicative of sellers waking up.”

Source: ...



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Zero Hedge

Boeing Anti-Stall Software Likely Active When Ethiopian Airlines Flight Crashed

Courtesy of ZeroHedge. View original post here.

With Boeing's shares still stuck in a rut, the investigation into flight ET302 - the second Boeing 737 MAX 8 to mysteriously crash within a five-month period - has analysts and investors worried about the possibility that the Boeing's controversial MCAS software might have played a role in the crash, which killed nearly 160 people. It's widely suspected that the anti-stall software contributed to the Ethiopian Air crash, as well as an October accident involving a Boeing 737 flown by Indonesian budget carrier Lion Air, which, like ET302, crash...



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ValueWalk

Tesla's Massive Increase In Delivery Volume In Europe And China

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email to investors discussing a few good posts on Tesla on the VIC message board about the massive increase in delivery volume in Europe and China.

41 – jcoviedo – 3 days 2 hrs ago

Re: Re: Re: Several bullish points

40

Q4 hedge fund letters, conference, scoops etc

Elon leaked...



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Kimble Charting Solutions

Shanghai Index; White Hot Market Peaking?

Courtesy of Chris Kimble.

Is one of the hottest stock indices in the world about to peak? Possible.

The S&P is off to a great start this year, up over 12%. Yet the Shanghai index is white hot, up around 22%, almost twice as much as the S&P 500!

This chart looks at the Shanghai Index over the past 25-years on a weekly basis. It has spent the majority of the past 25-year above rising support line (1). It hit this rising support line in December, where a very strong counter-trend rally has taken place.

Over the past 4-years, the index has created a series o...



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Chart School

Weekly Market Recap Mar 24, 2019

Courtesy of Blain.

It was looking like another week of Federal Reserve Kool Aid and crushing bears .. until Friday.  On the back of bad economic news out Europe, the yield curve inverted on the 3 month vs 10 year bond – before you fall asleep to that news, it is a quite important indicator for the economy (not necessarily the stock market… yet).   More on that in a bit.  As you can see the action in the bond market Friday was quite severe so it will be interesting to see the move in the coming few days.

As for the Federal Reserve:

The Federal Reserve signaled no more increase in interest rates this year and just one in 2020, according to its new ‘dot plot,’ and the bank said it would...



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Insider Scoop

10 Biggest Price Target Changes For Friday

Courtesy of Benzinga.

  • Buckingham cut the price target for Trinity Industries Inc (NYSE: TRN) from $32 to $26. Trinity Industries shares closed at $22.96 on Thursday.
  • Canaccord Genuity lowered the price target for Biogen Inc (NASDAQ: BIIB) from $396 to $275. Biogen shares closed at $226.88 on Thursday.
  • H.C. Wainwright cut the price target on Conatus Pharmaceuticals Inc (NASDAQ: CNAT) from $8 to $1.50. Conatus Pharmaceuticals shares closed at $2.91 on Thursday.
  • Wedb...


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Biotech

Marijuana is a lot more than just THC - a pharmacologist looks at the untapped healing compounds

Reminder: We are available to chat with Members, comments are found below each post.

 

Marijuana is a lot more than just THC - a pharmacologist looks at the untapped healing compounds

Assorted cannabis bud strains. Roxana Gonzalez/Shutterstock.com

Courtesy of James David Adams, University of Southern California

Medical marijuana is legal in 33 states as of November 2018. Yet the federal government still insists marijuana has no legal u...



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Digital Currencies

Facebook's cryptocurrency: a financial expert breaks it down

 

Facebook's cryptocurrency: a financial expert breaks it down

Grejak/Shutterstock

Courtesy of Alistair Milne, Loughborough University

Facebook is reportedly preparing to launch its own version of Bitcoin, for use in its messaging applications, WhatsApp, Messenger and Instagram. Could this “Facecoin” be the long-awaited breakthrough by a global technology giant into the lucrative market for retail financial services? Or will...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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