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Daily Dispatches
FX abuses persist even after $10 billion in fines, traders say
Submitted by cpowell on Tue, 2018-05-29 08:06 Section: Daily DispatchesBy Lananh Nguyen
Bloomberg News
Tuesday, May 29, 2018
Add Andy Maack of Vanguard Group Inc. to the list of a dozen or so executives who say that routine misbehavior in the $5.1 trillion-a-day foreign exchange market persists even after banks paid $10 billion in penalties and a trader was sent to prison.
Former IMF official becomes Italy's interim prime minister
Submitted by cpowell on Mon, 2018-05-28 14:54 Section: Daily DispatchesMarkets Hit as Carlo Cottarelli Named as Italy's New Prime Minister
By James Politi
Financial Times, London
Monday, May 28, 2018
Investors ditched Italian bonds and equities on Monday as Sergio Mattarella, Italy's president, sought to head off political and market tensions by asking Carlo Cottarelli, a former International Monetary Fund official, to run a technocratic government.
Italy's fresh election risks being referendum on euro
Submitted by cpowell on Mon, 2018-05-28 14:24 Section: Daily DispatchesBy Steve Scherer
Reuters
Monday, May 28, 2018
ROME -- The euro looked to have dodged a bullet when Italy's would-be eurosceptic coalition government collapsed at the weekend, but it may turn out to have been the opening salvo in a war over Europe's single currency.
China to host Iran at Shanghai Cooperation Council to help evade U.S. sanctions
Submitted by cpowell on Mon, 2018-05-28 14:08 Section: Daily DispatchesChina to Host Iran to Avoid Project Disruption Amid Nuclear Deal Doubt
From Reuters
Monday, May 28, 2018
BEIJING -- China will host Iranian President Hassan Rouhani next month at a regional summit aimed at avoiding disruption of joint projects, its foreign ministry said today, as major powers scramble to save Iran's nuclear deal after the United States pulled out.
Central banking's secret market rigging, not its credibility, controls price expectations
Submitted by cpowell on Mon, 2018-05-28 10:14 Section: Daily Dispatches10:30a ET Monday, May 28, 2018
Dear Friend of GATA and Gold:
Oh, for a chance to put critical questions to central bankers at forums where their refusal to reply responsively at least might embarrass them in front of an audience. (Of course that's why such forums are never held.)
Wolfgang Munchau: The euro must be made more robust to rival the dollar
Submitted by cpowell on Sun, 2018-05-27 23:12 Section: Daily DispatchesBy Wofgang Munchau
Financial Times, London
Sunday, May 27, 2018
https://www.ft.com/content/ca8c6826-5f76-11e8-ad91-e01af256df68
Many years ago I used to attend an annual seminar in pleasant surroundings in which the participants discussed the politics and economics of two European countries. There were usually two groups.
Lack of reliable domestic money corrupts everyone in Zimbabwe's capital
Submitted by cpowell on Sun, 2018-05-27 10:19 Section: Daily DispatchesInside Zimbabwe's Multi-Million-Dollar Black Economy
From the Center for Investigative Journalism
Harare, Zimbabwe
Friday, May 25, 2018
Hyperinflation, free electricity fuel crypto-mining boom in Caracas
Submitted by cpowell on Sun, 2018-05-27 10:11 Section: Daily DispatchesThere's a Crypto-Mining Machine in Every Home in Caracas
By Daniel Cancel
Bloomberg News
Friday, May 25, 2018
CARACAS, Venezuela -- Crypto fever may have cooled across much of the globe, but don't tell that to folks here. They're mining coins like crazy.
Europeans in Iran bitterly denounce U.S. as 'Caesar' amid new sanctions
Submitted by cpowell on Sun, 2018-05-27 10:04 Section: Daily DispatchesBy Thomas Erdbrink
The New York Times
Saturday, May 26, 2017
TEHRAN, Iran -- After the landmark nuclear agreement of 2015, hundreds of European, Asian and even American companies rushed to enter Iran's largely untapped market of 80 million people, assured by the United States and the other signatories that their investments would be safe for at least a decade.
Erdogan calls on Turks to convert dollars and euros into their own nation's currency
Submitted by cpowell on Sat, 2018-05-26 19:53 Section: Daily DispatchesFrom Hurriyet Daily News, Istanbul
Saturday, May 26, 2018
ERZURUM, Turkey -- Turkish President Recep Tayyip Erdogan called on Turkey's citizens today to convert their dollar and euro savings into lira, as he sought to bolster the ailing currency which has lost some 20 percent of its value against the U.S. currency this year.
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