The European Banking Issues Intensify
Some interesting market moves today. With Turkey continuing to struggle and an increase of tariffs from Trump, this has fears in a couple European banks escalating. Chris Temple joins me to discuss how the above factors are resulting a fear trade quartet.
Click download link to listen on this device: Download Show
Are things starting to HEAT UP………..somebody is ticked…….
ZH: As a reminder, Incirlik is a central hub for US air power in the region and the resting place of a few dozen B-61 nuclear gravity bombs with adjustable yields. Though the bombs are securely confined to the US-controlled side of the base, regularly maintained and looked after, and at little risk of falling into enemy hands, experts have long questioned the wisdom of holding US nuclear weapons in Turkey.]
OOTB, the US removed the nukes, I believe ,about 3 weeks ago.
They moved the 20 nukes (all tactical, not big) from Turkey to Romania
CFS………thanks for the follow up………..
China recognising that it cannot win a tariff war is now threatening to seize Apple and other high tech US companies in China.
Google watch out!
Meanwhile we may see an end to some congress-critter greed and corruption…
WASHINGTON (AP) — The indictment of Rep. Chris Collins on insider trading charges is drawing new attention to the freedom members of Congress have to serve on corporate boards or to buy and sell stock in industries they’re responsible for overseeing.
Pelosi, Feinstein watch out, among others.
How does that line go? Slowly at first and then all at once! OUCH!
FWIW Turkey has always been one of our best allies way back even in Korea. Hate to see them pushed around like they really don’t matter. Don’t care for their President but that says nothing…….I don’t care for ours either.
https://youtu.be/q-cy5-Jj-Ug?t=237
Here we go with WWIII ?????
long VCEL
CBO makes estimates of itemised cost of socialism.
Was Chinese puppet N.Korea told to distract US while China seizes S. China Sea?
China KNOWS its case for ownership of S. China Seas is weak, or it would have gone to U.N.
IMF says it might bail out Turkey.
CFS comment: With what money? The IMF gets most of its money from the US.
Goldfinger highlighted a funny social media battle between Peter Schiff on Bitcoin’s plunge, and with CNBC’s Fast Money answering back about his missed Gold targets of $5k-$10K. Gotta love it!
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@Goldfinger “Things that happen at bottoms….” #Bitcoin #gold
http://cdn.ceo.ca/1dms1ek-4ABA726B-8102-421C-B9BA-D347B91549BF.png
I don’t follow Peter; did he ever put a date on his gold targets? If not, one can’t say he missed them.
I’ve followed Peter since 2007/2008, and he’s been calling for $5K – $10K Gold since the Economic collapse. It’s been a decade, and those were FAR too aggressive and nonsensical targets for the last decade. If they happen some time in the next decade, one can’t say he nailed it either.
I could say Oil will get above $140 again as well, but if it takes 20 years, then that call has little relevance for the vast majority of traders and just simply assumes that markets will go up over a really long period of time. There is little value in those kinds of comments as one could say that about Nickel, or Zinc, or Potash, or Farmland, or Water, or the General Stock markets etc…..
Actually Excelsior, none of the “experts” have come close to nailing it other than nailing an increase in their net worth. This has been going on for a long, long time. ”
“Fool me once, shame on you, fool me twice shame on me”
I’ve followed Peter since 2007 & 2008, and he’s been calling for Gold at $5,000 to $10,000 since the economic crisis and for over a decade now, and Gold is nowhere close.
I hate to admit agreeing with CNBC on anything but they have a point here in their response back to Peter, who is making a short duration judgment on Bitcoin. If Gold finally gets above $5,000 in another decade and it took 20 years to play out and finally creep up there, then I wouldn’t say that the frantic urgency that Peter was laying out over a decade ago was “nailing it” either. 😉
Look, calling for a target that eventually happens in 20 years, is of very little value to the vast majority of traders or investors (and that eclipses many people’s life spans). I could say Oil will be back above $140 in 20 years but that kind of target is not really helpful, as most markets will be higher in 20 years like Copper, Zinc, Nickel, Potash, or Farmland, or even the general stock indexes. So what and that doesn’t help for people plan for the next day, week, month, quarter, year, 2-3 years, 5 years, etc… Just saying that eventually an asset class will be 3-4 times higher is just finger pointing and offers little substance or value IMO.
Still Report:
Socialist-democrat Cortez from the Bronx should go to Europe and discover Spain
Enjoyed this talk. Thanks.
One more thing about Turkey – Edrogan keeps threatening to leave NATO and go join Russia. Has also made thinly veiled threats to Europe about the numbers of Turks in each European country.
I suspect that a big part of what is happening now is bringing him into line or even destroying the Turkish economy in order to get him ousted.
In the book “The Next 100 years” the author suggests that Turkey will evolve into a much more formidable power than it is today.
For anyone who missed it, the attached is an excellent article about the Turkish Lira crisis and the credit exposure various European banks have to Turkey.
https://www.zerohedge.com/news/2018-08-10/world-markets-roiled-turkey-currency-crisis-goes-global