Clueless, Ignorant, Dangerous Leaders

Rogers is bullish China long-term but buying Chinese stocks only selectively...
 Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then...
 Faber is bearish AAPL, believes its a bubble - but too dangerous to short... Both are uber-bearish central-bankers and politicians...

  Marc Faber: "Both candidates are clueless and completely artificial..." 
 Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution - but their solutions are what's making the situation worse...
" Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!"

FX Insight China’s manufacturing expanded at the weakest pace in seven months

The Purchasing Managers’ Index fell to 50.2 in June from 50.4 in May, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday. South Korea’s Ministry of Knowledge Economy lowered its projection for overseas sales to an increase of 3.5 percent from 6.7 percent, citing a slowdown in major economies. -

 Manufacturing data from China, the world’s biggest exporter, signal the government may need to add stimulus to arrest an economic slowdown that probably extended into a sixth quarter. The downturn is rippling through Asian nations, with South Korea’s sales to China, its biggest market, stalling in the first 20 days of June. -

 “It’s clear the slowdown of export growth as a result of weakness in Europe and the U.S. continues to weigh on the Chinese economy,” said Lu Ting, head of greater China economics at Bank of America Corp. in Hong Kong. The weaker PMI reading “will likely push policy makers to introduce incremental measures such as reserve-ratio cuts and easing lending restrictions to stabilize growth. . LINK TO Bloomberg article

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'US surrounding Russia & China claiming it's for Iran'

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Safe-haven yen eased on Monday, Aussie jumps

The Australian dollar soared nearly a full U.S. cent to $1.0441, having peaked at $1.0470, after a report on Sunday showed activity in big Chinese factories hit an 11-month high in March.



traders expect the Aussie to consolidate in the $1.0410/70 range before another attempt on the upside. Against the yen, the Aussie climbed to 86.50, pulling well away from last week's trough around 84.60.

The yen could also resume its downtrend as support from Japan's fiscal year-end flows have all but fizzled. The low-yielding Japanese currency is still seen as a funding currency for carry trades.

 The dollar held firm against the yen, having benefited on Friday from higher Treasury yields in the wake of the upbeat spending data. It stood at 82.83 versus 82.78 in New York. Reuters link

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Easing By The ECB May Be Coming Next Month

By creating a massive incentive for European banks to buy their government’s debt issuance up to three years maturity, the new ECB leader Mario Draghi is clearly seeking to get control over the direction of Eurozone government bond yields. The dramatic decline in Eurozone bond yields up to three years suggests he is getting some traction (see Figure 1). It is also the case that absolute-return investors may be tempted to “front run” coming bond auctions if they think the ECB policy is working. On this point, market talk is focusing on an even bigger amount to be borrowed at the next 3-year longer-term refinancing operation (LTRO) due on 29 February. GREED & fear has heard guesstimates of up to €1tn!
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China Inflation Eases to 15-Month Low

China's annual inflation eased to 4.1 percent December, the lowest level in 15 months, giving the government more room to tilt economic policy away from restraining prices and towards supporting sagging growth.

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Russia, Iran Proceed With Bilateral Trade, Drop Dollar

FOREX ARTICLE OF THE DAY

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Russian warships patrolling the eastern Mediterranean Sea have docked at Russia's naval supply facility in the Syrian port of Tartus, the private Addounia TV reported Saturday