EU plans moving bank regulator from London as euro zone eyes City business

As Germany dominates everything Europe, Frankfurt looks like the likely winner in becoming the world financial hub.

 

BRUSSELS: The EU is preparing to move its European Banking Authority from London following Britain’s vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator.

Coming a day after Britain’s Jonathan Hill resigned and was replaced as EU financial services chief by the Commission’s “Mr. Euro” Valdis Dombrovskis, the move underlines how the City of London can expect to be frozen out of EU financial regulation – and possibly from Europe’s capital markets – depending on the terms of Brexit.

While those who argued for Britain to leave the EU said the financial industry would thrive without EU shackles, some of its biggest employers including JPMorgan are scouring Europe to find new locations for their traders, bankers and financial licenses.

Putin’s Decade-Old Dream Realized as Russia to Price Its Own Oil

This is the beginning of the removal of the U.S. Dollar (and America) from the global system.

In the future, the price of precious metals such as gold and silver will be set by both China and Russia in their own markets, then expand globally as they eventually aim to take the power of setting global standards away from America. The U.S. keeps prices artificially low to mask the true state of its respective economy. Oil seems to be the first step in taking the U.S. Dollar out of how the commodity is priced.

Without the Petrodollar, there is no U.S. Dollar. Without the U.S. Dollar being used globally, there is no America as we know it today. it will become a third world nation.

 

Russian President Vladimir Putin is on the verge of realizing a decade-old dream: Russian oil priced in Russia.

The nation’s largest commodity exchange, whose chairman is Putin ally Igor Sechin, is courting international oil traders to join its emerging futures market. The goal is to increase revenue from Urals crude by disconnecting the price-setting mechanism from the world’s most-used Brent oil benchmark. Another aim is tomove away from quoting petroleum in U.S. dollars. 

If Russia is going to attract international participation in Russian-based pricing, the Kremlin will need to persuade traders it’s not simply trying to push prices up, some energy analysts said. The government is dependent on oil revenue to fund its budgets.

Iran sanctions: Middle East stock crash wipes £27bn off markets as Tehran enters oil war

Prospect of the Islamic Republic pumping an additional 500,000 barrels a day sends stock markets in Dubai and Saudi Arabia into tailspin

Stock markets across the Middle East saw more than £27bn wiped off their value as the lifting of economic sanctions against Iran threatened to unleash a fresh wave of oil onto global markets that are already drowning in excess supply.

All seven stock markets in the Gulf states tumbled as panic gripped traders. London shares are now braced for a second wave of crisis to hit when they open on Monday morning after contagion from China sent the FTSE 100 to its worst start in history last week.

NYSE invokes Rule 48 to curb early swings

Circuit breakers, a plunge protection team (that either doesn’t exist or is doing a very poor job)… and now Rule 48. One has to wonder how many more tricks are in the bag. Perhaps that was the last one, perhaps there’s many more. Even if there’s more, it won’t stop the ever-strengthening avalanche.

 

The New York Stock Exchange on Tuesday again invoked measures meant to promote an orderly opening as the US stock market endured heavy selling in early trading.

In contrast to the wild trading of Monday, August 24, when the exchange also invoked so called Rule 48, activity on Tuesday was mostly orderly in spite of declines, market participants said.

But some complained that it took too long for some stocks to open, which is likely to keep attention on the rule. The S&P 500 fell 3 per cent.

Stocks are a ‘disaster waiting to happen’: Stockman

See the source for the video.

 

David Stockman has long warned that the stock market is on the verge of a massive collapse, and the recent price action has him even more convinced than ever that the bottom is about to fall out.

“I think it’s pretty obvious that the top is in,” the Reagan administration’s OMB director said Thursday on CNBC’s “Futures Now.” The S&P 500 has traded in a historically narrow range for the better part of 2015, having moved just 1 percent higher year to date. “It’s just waiting for the knee-jerk bulls, robo traders and dip buyers to finally capitulate.”

Strange stock market trades confuse Wall Street

Beware the naïve businessman mindset focused purely on ‘business as usual’ that believes there is no financial espionage from within the United States, as shown in the last sentence of this article. It’s always an error. Granted, blame shouldn’t be placed squarely 100% on them, as they were trained for business and not national security or intelligence careers. However, one can tell they don’t read the news outside of the business section.

 

It started at about noon ET. All the trades occurred in roughly the same time period—roughly noon ET to roughly 12:30 p.m.—and the volume in all the stocks was heavy, in most cases several times daily volume.

It all points to one likely explanation: somebody executed some kind of program.

Spectre of 1929 crash looms over FTSE 100 as traders take on record debts

 

The spectre of the 1929 stock market crash looms large for UK investors as traders borrow record amounts to invest in rising stock markets

Nothing has been learnt from the madness of the 1929 stock market crash as once again traders reach for record amounts of debt to pile into rising share prices.

The level of margin debt that traders are using to buy shares in the stock market reached the highest levels on record, according the latest data from the New York stock exchange.