Argentina Peso Plunges To New Record Low

Last night, Argentina got 50 billion pieces of good news, when the IMF agreed to provide the troubled Latin American nation with a $50BN standby loan, the largest even in IMF history. It also got some bad news, when the central bank announced it would…

Soros Veteran And Former CIO Quits Firm

Being a Chief Investment Officer at Soros Fund Management, the $26 billion family office run by billionaire George Soros who reportedly lost $1 billion following the Trump election as a result of bearish market bets, is not easy: recall that in August of 2016, Ted…

Turkey May Purchase Russian Stealth Fighters, If Delivery Of US F-35s Is Halted

A U.S. Senate committee swiftly passed the latest version of a $716 billion defense bill last week, including a hard-hitting measure to block Turkey from acquiring Lockheed Martin F-35 Lightning II fighter jets. Democratic Senator Jeanne Shaheen and Republican Senator Thom Tillis are responsible for…

One Billion Chickens May Die As Trucker Strike Paralyzes Brazil

A billion Brazilian chickens and 20 million pigs may die within days – starving to death amid a nationwide truckers’ strike over soaring fuel prices which has prevented critical supplies such as animal feed from reaching their destinations.  [E]xport group ABPA said a billion chickens and 20 million swines…

Pentagon Spends $1 Billion To Acquire More War Robots

According to a new report from Bloomberg, the Pentagon is spending approximately $1 billion over the next several years for a variety of robots designed to complement combat troops on the modern battlefield. In addition to scouting and explosives disposal, these new war robots will reportedly…

Putin Drives Dump Truck Across $3.6 Billion Bridge He Built To Crimea

Russian President Vladimir Putin unveiled the auto section of a $3.6 billion (223 billion rouble) road-and-rail bridge over the Kersch Strait on Tuesday linking Russia to the Crimean peninsula – much to the consternation of Ukrainian officials who said the bridge showed “disregard for international law.”  The bridge will…

Argentina’s Mystery Rescuer Revealed

Franklin Templeton’s $38 billion Global Bond Fund is suffering from its weakest start to a year since 2005, trading at it lowest price since January 2017 amid a slump in local debt of Brazil, Mexico, and Argentina – three of its biggest long-term holdings. The…

Wells Fargo Agrees To Pay Record $1BN Fine In Settlement With Mulvaney’s CFPB

As was widely expected, Wells Fargo announced today that it has agreed to pay a $1 billion fine to the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau in what is the largest fine ever levied by the CFPB in…

Deutsche Bank “Mistakenly” Sends $35 Billion Out The Door

Back in the summer of 2015, Deutsche Bank mistakenly paid $6 billion to a hedge fund client in a “fat finger” trade on its foreign exchange desk. The embarrassed bank recovered the money from the US hedge fund the next day, and quickly accused a…