Category Archives: CDS
US Military Issues Alert After Discovering North Korean Propaganda On American Bases
U.S. Forces Korea, a sub-unified command of the United States Pacific Command, has issued a warning to servicemembers on the Korean Peninsula to stay vigilant for “insider threats” after North Korean propaganda surfaced on American military bases. According to Stripes.com, the 8th Army reported that a “significant number of North Korean propaganda leaflets and CDs” were found at Seoul’s […]
The 10 “Grey Swans” Events For 2018
One of the traditional push backs against attempts to predict “black swan” events is that they are by default unpredictable, rendering the entire exercise moot. However, for the second year in a row, Nomura’s Bilal Hafeez has found a loophole, or rather loop-animal: the grey swan. As Hafeez writes, while he would like to be […]
Nothing Really Matters, Anyone Can See
Nothing Really Matters, Anyone Can See Posted with permission and written by Craig Hemke, TF Metals Report The US labor force is rapidly shrinking. Wage growth is non-existent. The vast majority of the American people have no savings and little hope for economic improvement. But none of that matters with the G-3 central banks […]
PDVSA Bonds Crash, Bitcoin Spikes As Venezuela Default Looms
Following President Maduro's statement overnight on restructuring Venezuelan debt, bonds of the nation's state-owned energy company, Petroleos de Venezuela SA (PDVSA), have collapsed, with CDS pricing in a 99% probability of default… As we detailed last night, during a nationwide TV address, Venezuela's socialist president Nicolas Maduro said the country will seek to restructure its […]
The Time Has Come: Venezuela May Be In Default In Under 48 Hours
This past weekend, Venezuela failed to make $237 million in bond coupon payment, blaming “technical glitches” when in reality it simply did not have the money (or wish to part with it). Adding the $349 million in unpaid bond interest accumulated over the past month as of last Friday, that brings Caracas’ unpaid bills to […]
About That Debt Ceiling Crisis…
With just one month left until the “X Date”, better known as the first day on which Treasury has exhausted its borrowing authority and no longer has sufficient funds to pay all of its bills in full and on time, and also known as the date the US is technically in default on its debt […]
US Debt Ceiling, The Wall, Runaway Spending, & The Lack Of Evidence Of Concern… So Far
Via Snake Hole Lounge blog, The US Statutory Debt Limit, a failed tool to halt the endless growth of Federal debt issuance, is once again in play at nearly $20 trillion. It was only at $6 trillion in 2002. The problem, of course, is runaway Fed spending which is currently at around twice that of […]