“Cracking down on implicit guarantees is just like curbing home prices,” she says. “It’s something that the government needs to say, but it’s not something they will eventually do.”
Yang’s steadfast faith in bailouts illustrates the dilemma for authorities as they try to reduce moral hazard and improve the pricing of risk in China’s financial system: It may require a major WMP blowup to shake investors out of their complacency, an event that could wreak havoc on banks that increasingly rely on the products for funding.
That said, the stresses facing China’s “risk free” shadow banks are nothing new – we first profiled their plight back in 2014 – and over the past few years, the PBOC has been actively involved in providing the much needed liquidity support to not only China’s “shadow” financing vehicles, but its entire financial system.
The Donald’s missile “attack” on Syria’s al-Shairat air base is surely the most impetuous, thoughtless, reckless and stupid act from the Oval Office that we can remember—and that covers 50 years at least. And we put “attack” in quotes because it’s now evident that virtually every one of those $1.4 million per copy Tomahawks amounted to a big fat nothing-burger.
The world is, of course, accustomed to attention-seeking military stunts from North Korea. It’s just that they’re getting harder to dismiss. The rogue nation established its nuclear prowess years ago, and its missile technology appears to be advancing at an alarming rate. Some analysts believe it could have the ability to hit US metros with nuclear-tipped intercontinental ballistic missiles (ICBMs) within a few years.
Haven assets advanced for a second day as U.S. Secretary of State Rex Tillerson said during a Group of Seven meeting in Italy that Russia must abandon its support of Syrian President Bashar al-Assad’s regime. Tensions also remain high in Asia after President Donald Trump said on Twitter that “North Korea is looking for trouble,” and that the U.S. would “solve the problem” with or without China.
Gold Selling for $10,000? Yes! (GE Christenson)
If you own gold or plan to buy gold, this information affects you. Other ideal times to buy gold were after the 9-11 disaster, during the stock market crash in October and November 2008, the December 2015 multi-year low in gold prices, and early 2017.
In February, a ministry official told Platts that the test would begin sometime around late April, with the goal to have the tests run non-stop for up to one month. The trial will test the decreasing pressure system at the Daini-Atsumi Knoll in the eastern Nankai Trough, and would aim to evaluate the feasibility of stably producing gas from methane hydrate with the decreasing pressure system for a certain period. The ultimate goal is to ascertain whether the output could go commercial-scale in the future, according to the trade ministry’s official.
It also added to their understanding of how any change in krill population due to climate change, commercial fishing, or ocean acidification, may impact whales in the future.
“We have some wonderful data on different feeding strategies from rolling lunges near the surface, to bubble net feeding, to deep foraging dives lunging through dense patches of krill,” said Friedlaender.
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