Ponzi World (Over 3 Billion NOT Served)

The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Thursday, April 7, 2016

Carry Currency Meltdown In Progress. Oil Is Next

JPY couldn't wait for the other asset classes, and went totally fugazi in the past 24 hours...

The Yuan is getting monkey hammered relative to Yen...
It's safe to assume that a big part of Kuroda's $3 trillion of hot money went to China and is now causing some amount of discomfort...

Yen / Yuan (red) with Shanghai Composite:

Aussie / JPY under a bit of pressure as well...

Meanwhile, this is why oil rallied 5% yesterday - the "drawdown" in crude oil inventories...

If you can see that with the naked eye, then you don't need glasses...

European third wave...
Europe is the other big overnight risk to the U.S. The futures selloff accelerated when Europe opened this morning...