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Zimbabwe Military Says Mugabe Impeachment Process Has Begun

Zimbabwe President Robert Mugabe baffled his country and the world last night when, instead of publicly announcing his resignation, he reaffirmed his intention to stay on as the head of state in Zimbabwe, and admonished members of his ruling ZANU PF party for their “arbitrary decision making” and “victimization.” Mugabe’s defiance immediately spurred conspiracy theories, […]


Goldman Reveals Its Top Trade Recommendations For 2018

It’s that time of the year again when with just a few weeks left in the year, Goldman unveils its top trade recommendations for the year ahead. And while Goldman’s Top trades for 2016 was an abysmal disaster, with the bank getting stopped out with a loss on virtually all trade recos within weeks after […]


Venezuela Bans Magazines From Publishing Photos Of Women In Bikinis

While Venezuela’s embattled government struggles with the fallout from being declared officially in default by ISDA after delaying a principal payment on the Petroleos de Venezuela SA, or PDVSA, bond that matured Nov. 2, its Supreme Court has been busy robbing the country’s downtrodden public one of the few small pleasures still available in a […]


Venezuela Just 24 Hours Away From Formal Declaration Of Default

Less than a week after Venezuela shocked the world by announcing it would proceed to restructure its massive external debt, even as it was within the grace period on hundreds of millions in unpaid interest expense, on Thursday the socialist nation confirmed it has never been closer to an official default after Reuters reported that […]


Trump Warns North Korea Of “Grave Danger” In Rousing Speech

President Donald Trump departed for China this morning, the third leg of his 12-day tour of Asia – his first visit to the continent since taking office – but not before delivering a "rousing speech" to South Korean lawmakers where he warned the North not to “underestimate” the US – a sharp change in tone […]


Goldman’s Asset Arm Takes Big Hit On Venezuelan Bond Bloodbath

The fallout from the Venezuelan bond restructuring has claimed a major victim in Goldman Sachs Asset Management, or rather some of the “muppets” who trusted Goldman to invest their money. However, the route which led Goldman to losing a chunk of client money wasn’t just a case of bad judgement, being riddled with the usual […]


“Sacre Beurre” – Global Butter Prices Triple As Shortages Hit France

 It’s not received much attention, but global butter prices have roughly tripled since Summer 2016 as production cuts have hit supply… According to Bloomberg, global butter prices have almost tripled to 7,000 euros ($8,144) a ton from 2,500 euros in 2016, according to Agritel, an Paris-based farming consultancy. In Europe, prices peaked at about 6,500 euros […]


This Is What The Death Of A Nation Looks Like: Venezuela Prepares For 2,300% Hyperinflation

Back in January 2016, we showed what the collapse of Venezuela looks like, when in addition to charting Venezuela’s imploding currency (which back then was trading at a positive expensive 941 bolivars to the dollar), we presented what at the time was the IMF’s latest Venezuela inflation forecast, which stunned us as it surged from […]


An Insider’s View Of The Bitcoinization Of Venezuela

With Venezuela 'almost' defaulting on their government debt this week, Daniel Osorio, of Andean Capital Advisors, has had a front-row seat in the collapse of the socialist utopia, spending at least a week every month in the almost-failed state. In a brief but fascinating interview on CNBC, Osorio discussed the fact that as Washington unleashes […]


Venezuela Bankrupt? Caracas Fails To Make Sept 15 Interest Payment

Exactly one week ago, we wrote that a “Venezuelan default is only a matter of time”.  We said that “while debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government and the National Assembly) make it a daunting task. By […]


Next Up For Venezuela: PDVSA’s Inevitable Default

Authored by Saxo Bank's head of macro analysis Christopher Dembik via TradingFloor.com, A Venezuelan default is only a matter of time. While debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government and the National Assembly) make it a daunting […]


US Bans Dealing In Venezuelan Government Debt And New State-Owned Oil Company Debt & Equity

President Trump just signed an executive order deepening the sanctions on Venezuela, confirming the rumors of a ban on trading in Venezuelan debt that sent VENZ/PDVSA bonds tumbling. As we noted previously, on Tuesday evening, the WSJ reported that the U.S. government is considering "restricting trades in Venezuelan debt as it seeks to punish President […]


Could Bitcoin Help Venezuelans As Crisis Deepens?

Authored by Michael Kern via Crypto Insider, Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional gold in Azeroth, the setting of the popular massively multiplayer online role-playing game World of Warcraft, pushing Venezuelans to bitcoin […]