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The Tatiana Show – Arry Yu Of StormX & Richard Jacobs Of Bitcoin Superconference

Tatiana interviews Arry Yu of StormX & Richard Jacobs of Bitcoin Superconference.Topics include:–“Getting Into Crypto”–“The Bitcoin Superconference”–“Getting into Tech from Music”–“The Evolution of StormX”About the Guests:-Richard Jacobs is an entr…

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As Under Armour Collapses, CEO Builds Elitist Hotel & Whiskey Distillery

October 31, 2017 Tyler Durden 0

Earlier, we reported on Under Armour’s epic stock collapse down over -75% from its September 2015 highs. This is one stock Central Bankers forgot to buy. Today’s stock crash -15% is being felt across Baltimore once again, city streets are e…

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Venezuela’s Grim Reaper: A Current Inflation Measurement – Current Annual Rate 2875%

October 31, 2017 Steve H. Hanke 0

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation. 

As the bolivar collapsed and inflation accelerated, the Banco Central de Venezuela (BCV) became an unreliable source of inflation data. Indeed, from December 2014 until January 2016, the BCV did not report inflation statistics. Then, the BCV pulled a rabbit out of its hat in January 2016 and reported a phony annual inflation rate for the third quarter of 2015. So, the last official inflation data reported by the BCV is almost two years old. To remedy this problem, the Johns Hopkins – Cato Institute Troubled Currencies Project, which I direct, began to measure Venezuela’s inflation in 2013. 

The most important price in an economy is the exchange rate between the local currency and the world’s reserve currency — the U.S. dollar. As long as there is an active black market (read: free market) for currency and the black market data are available, changes in the black market exchange rate can be reliably transformed into accurate estimates of countrywide inflation rates. The economic principle of Purchasing Power Parity (PPP) allows for this transformation.

I compute the implied annual inflation rate on a daily basis by using PPP to translate changes in the VEF/USD exchange rate into an annual inflation rate. The chart below shows the course of that annual rate, which last peaked at 3473% (yr/yr) in late October 2017. At present, Venezuela’s annual inflation rate is 2875%, the highest in the world (see the chart below).

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“It’s Not Sustainable” – Sacramento Lashes Out At Calpers After Raising Pension Payments

October 31, 2017 Tyler Durden 0

In the latest sign that America’s looming pension crisis is inching closer to an all-our collapse that will inevitably end in a series of bailouts – or worse, the failure to pay out retiree’s coveted benefits – a handful of California…

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NZ Q3 unemployment rate 4.6% (exp 4.7%)

October 31, 2017 Eamonn Sheridan 0

New Zealand July – September jobs report – The two ‘headline’ results from the report are the unemployment rate and employment change
Unemployment rate: 4.6% … BEAT
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QE’s Untold Story: A Chart That Fed Correspondents Need To Investigate

October 31, 2017 Tyler Durden 0

Authord by Daniel Nevins via FFWiley.com,
We’ve produced some research over the years that we’d love to see the powers-that-be react to, but none more so than our look at financial flows during the QE programs.
By netting all lending by ban…

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