Wednesday, January 27, 2016

Today's Links

1--Rush for the exits: why China's capital flight carnage will continue, Telegraph

2--Rumors of OPEC-Russia Coordination Send Oil Prices Surging, oil price



3--Ka-boom Goes the Bottom of the US Bond Market

The toxic pile of distressed corporate debt in the US grew to $285 billion in January, up 22% from a month ago and up 162% from a year ago, according to S&P Capital IQ. The number of distressed issuers ballooned to 324 US corporations, up 20% from a month ago and up 84% from a year ago.



The last time the total amounts of distressed debt and the number of distressed issuers had shot up to these levels was in October 2008, just after Lehman Brothers had filed for bankruptcy.

That’s how bad it is now in the US. It’s the essential consequence of years of artificially easy credit, the Fed-inspired blind confidence of yield-desperate investors, ludicrous corporate risk-taking to take advantage of those blind investors, private-equity asset stripping and buyouts, and among other things, the collapse of commodity prices that resulted from overproduction



4--World's Biggest Wealth Fund Speaks Out on Liquidity Banks Miss

5--Market Turmoil Threatens Fed Credibility

6--Drug kingpin El Chapo drives demand for fashionable shirts, CNBC

7--Washington Caught Supporting Jihadists in Syria, sputnik



Vladimir Putin's September address to the UN General Assembly: the Russian President stressed that it was irresponsible "to manipulate extremist groups and use them to achieve your political goals, hoping that later you'll find a way to get rid of them or somehow eliminate them."


"Putin did not mention clear evidence he was certainly aware of from the US Defense Intelligence Agency. An August 2012 DIA document declassified by a judge says that Washington, Ankara and the Gulf States were helping to establish a Salafist principality in eastern Syria to pressure Assad and that it could team up with extremists on the Iraqi side of the border to form an Islamic State — the document uses that exact phrase," the foreign affairs correspondent underscores.



He also refers to former DIA chief Gen. Michael Flynn who noted in an interview with Al Jazeera, that it was a "willful decision" of the Obama administration to team up with Salafists, al-Qaeda and the Muslim Brotherhood in Syria back in 2012


8--The Murky Isis-Turkey business relationship



Another main sources of revenue for these Islamic State militants is the smuggling of heroin and other drugs from Afghanistan to Turkey via the land they occupy in Syria and Iraq. According to the Russian Federal Drug Control Services (FSKN), these militants earns around 1 billion USD per year by facilitating the trafficking of these drugs via the land they occupy in Syria and Iraq. Viktor Ivanov, head of FSKN says that around 50 percent of Europe’s heroin comes from IS occupied territories. Majority of militants of the Islamic State are so scared that they take lots of drugs themselves before going into battle. A few days ago, Serbian police busted a racket with 16 kilogram of heroin which was shipped from Turkey to European countries. A recent report released in 2015 by the US State Department says that Turkey is the major center of trade for heroin and other drugs.



So this is how these Islamic State militants are funding their terrorists activities in Syria and Iraq. If Western countries seriously wants to destroy these militants, then they should stop their allies like Turkey, Saudi Arabia and Qatar from funding these terrorists












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