Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54756 Wed, 20 Aug 2014 14:46:57 GMT The Great Economic Shoe Waiting To Fall: Loss Of Faith In The Cult Of Central Banking - Charles Hugh Smith http://implode-explode.com/viewnews/2014-08-20_TheGreatEconomicShoeWaitingToFallLossOfFaithInTheCultOfCentralBa.html iehi-feed-54754 Wed, 20 Aug 2014 14:28:59 GMT Leeb: Ruble Strong, in Contrast to Western Propaganda http://implode-explode.com/viewnews/2014-08-20_LeebRubleStronginContrasttoWesternPropaganda.html iehi-feed-54745 Tue, 19 Aug 2014 15:24:59 GMT WSJ/NBC Poll: The Death of American Optimism http://implode-explode.com/viewnews/2014-08-19_WSJNBCPollTheDeathofAmericanOptimism.html iehi-feed-54740 Tue, 19 Aug 2014 15:05:55 GMT "Construction Boom?" Housing Starts, Permits Soar in July http://implode-explode.com/viewnews/2014-08-19_ConstructionBoomHousingStartsPermitsSoarinJuly.html iehi-feed-54738 Mon, 18 Aug 2014 23:49:10 GMT How The Fed Turned A Flood Of Treasury Debt Into A Scarcity Of Repo Collateral | David Stockman http://implode-explode.com/viewnews/2014-08-18_HowTheFedTurnedAFloodOfTreasuryDebtIntoAScarcityOfRepoCollateral.html iehi-feed-54733 Mon, 18 Aug 2014 01:58:40 GMT Europe Is Tanking, QE Is Coming http://implode-explode.com/viewnews/2014-08-17_EuropeIsTankingQEIsComing.html Now that the peripheral eurozone countries can't borrow to buy BMWs and pharmaceuticals, Germany's export-driven growth is slowing down... this is all leading to a completely predictable conclusion, which is that Mario Draghi will soon have to put his printing press where his mouth is. "Whatever it takes" will turn out to mean a eurozone quantitative easing program that resembles those of the Fed and BoJ, though on an even bigger scale. The implicit (maybe explicit) goal will be to crater the euro.

...This will go on until, as Jim Rickards puts it, the world's governments figure out that competitive devaluation is a zero sum game and that the one thing they can all devalue against is gold. A "monetary reset" will result, with the major currencies once again becoming simply names for given amounts of gold -- at $10,000 an ounce.

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iehi-feed-54728 Sun, 17 Aug 2014 14:28:19 GMT Germany is itself a victim of EMU's austerity fanatics http://implode-explode.com/viewnews/2014-08-17_GermanyisitselfavictimofEMUsausterityfanatics.html iehi-feed-54727 Sun, 17 Aug 2014 14:26:34 GMT Proof of a Structural Change in the U.S. Workforce http://implode-explode.com/viewnews/2014-08-17_ProofofaStructuralChangeintheUSWorkforce.html iehi-feed-54721 Sat, 16 Aug 2014 13:28:56 GMT Snowden: Flubbed NSA Hack Caused Massive 2012 Syrian Internet Blackout; State Dept. Blamed Assad Gov. http://implode-explode.com/viewnews/2014-08-16_SnowdenFlubbedNSAHackCausedMassive2012SyrianInternetBlackoutStat.html Snowden... said an elite NSA hacking unit was attempting to install malware on a central Syrian router to monitor the nation's Internet activity but accidentally rendered it unusable, putting almost all of the Middle Eastern country in the dark. "If we get caught, we can always point the finger at Israel," he said someone at the NSA joked.

The intelligence agency, realizing its mistake, sought to put the country back online but was only able to do so to the extent that it could cover its tracks, not bring the Internet back. Instead, the State Department pointed fingers. "We condemn this latest assault on the Syrian people's ability to express themselves and communicate with each other," then-State Department spokeswoman Victoria Nuland told a press conference days after the shutdown was reported in November 2012.

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iehi-feed-54716 Fri, 15 Aug 2014 16:09:23 GMT Fed's Kocherlakota Says Long Way from Inflation Target (2018 Expected), Boosting ZIRP http://implode-explode.com/viewnews/2014-08-15_FedsKocherlakotaSaysLongWayfromInflationTarget2018ExpectedBoosti.html iehi-feed-54711 Fri, 15 Aug 2014 13:10:08 GMT Putin Sets Sights on Petrodollar http://implode-explode.com/viewnews/2014-08-15_PutinSetsSightsonPetrodollar.html iehi-feed-54710 Fri, 15 Aug 2014 13:09:29 GMT Italy's Renzi must bring back the lira to end depression http://implode-explode.com/viewnews/2014-08-15_ItalysRenzimustbringbacktheliratoenddepression.html The lethal mix of economic contraction and zero inflation is causing Italy's debt trajectory to spiral upwards, despite austerity and a primary surplus of 2pc of GDP... The recession is eroding tax revenues so badly that premier Matteo Renzi will have to come up with fresh cuts of €20bn to €25bn to meet EU deficit targets, perpetuating the vicious cycle.

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It is an incontrovertible fact that Italy's 14-year disaster coincides with EMU membership. This does not prove causality. It suggests that EMU set off a very destructive dynamic for Italy's particular circumstances, and is strong evidence that EMU now prevents the country from breaking out of the trap... a damning report [shows] how Italy's productivity growth and competitiveness faltered each time it pegged its currency to Germany over the past 40 years. It roared back with each devaluation.

... The country does not suffer from excess debt in any fundamental sense. Mortgage debt is very low. Aggregate debt is around 270pc of GDP, much lower than France, Britain, Spain, Japan, the US, Sweden or the Netherlands. The root problem is an exchange rate misalignment that creates an unnecessary public debt crisis through the perverse mechanisms of EMU.

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iehi-feed-54707 Thu, 14 Aug 2014 14:28:31 GMT New Book: Madoff Fraud Go at JPMorgan Went To The Top http://implode-explode.com/viewnews/2014-08-14_NewBookMadoffFraudGoatJPMorganWentToTheTop.html iehi-feed-54702 Thu, 14 Aug 2014 14:10:51 GMT London gold fix lawsuits to be consolidated in New York http://implode-explode.com/viewnews/2014-08-14_LondongoldfixlawsuitstobeconsolidatedinNewYork.html iehi-feed-54701 Thu, 14 Aug 2014 14:09:15 GMT Gold Manipulation Talk Hits CNBC Asia http://implode-explode.com/viewnews/2014-08-14_GoldManipulationTalkHitsCNBCAsia.html iehi-feed-54685 Wed, 13 Aug 2014 14:48:05 GMT Wall Street's Regulators are Denying FOIAs, Including Over JPM Banker "Suicides" http://implode-explode.com/viewnews/2014-08-13_WallStreetsRegulatorsareDenyingFOIAsIncludingOverJPMBankerSuicid.html Stipano is also the decider in chief when it comes to FOIA requests from the media, as we learned on June 20 of this year when he rejected our FOIA appeal for documents related to JPMorgan carrying life insurance on tens of thousands of its workers with the corporation named as the beneficiary.

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In our May 12, 2014 appeal to the OCC, we pointed out the following:

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"Three of the six JPMorgan-related deaths cited in the article referenced above were allegedly from leaps from buildings in London, Hong Kong and Manhattan, respectively. None of JPMorgan's peer banks -- such as Citigroup, Morgan Stanley or Goldman Sachs -- have publicly reported any suicides in the past six months as far as I'm aware. A 12-month review of public death notices among Citigroup employees revealed no cluster of deaths of young men in their 30s...

Stipano rejected the appeal on the basis that the information was confidential and privileged and/or obtained as part of a bank examination.

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iehi-feed-54683 Wed, 13 Aug 2014 14:39:35 GMT U.S. retail sales flat in July, autos fall for second straight month http://implode-explode.com/viewnews/2014-08-13_USretailsalesflatinJulyautosfallforsecondstraightmonth.html iehi-feed-54677 Tue, 12 Aug 2014 16:28:59 GMT The birth of a new financial-economic system: the example of Russia and Argentina http://implode-explode.com/viewnews/2014-08-12_ThebirthofanewfinancialeconomicsystemtheexampleofRussiaandArgent.html iehi-feed-54676 Tue, 12 Aug 2014 16:28:20 GMT Gartman reckons end-game for gold price management could be nigh http://implode-explode.com/viewnews/2014-08-12_Gartmanreckonsendgameforgoldpricemanagementcouldbenigh.html iehi-feed-54670 Tue, 12 Aug 2014 14:10:35 GMT Malaysia charges Ukraine government shot down MH 17 http://implode-explode.com/viewnews/2014-08-12_MalaysiachargesUkrainegovernmentshotdownMH17.html