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By Tyler Durden

“The AfD is a party that is not bringing together society and not offering the appropriate solutions for the problems, but it is stirring up prejudice and polarizing.”

That’s from Angela Merkel who spoke last Saturday to Bild am Sonntag about the threat she believes the anti-immigrant Alternative for Germany party poses to the country.

Apparently, voters weren’t listening.

In what amounts to a sweeping indictment of the Iron Chancellor’s open-door refugee policies, Merkel’s conservatives lost in two of the three state elections on Sunday with AfD scoring significant wins at the ballot box.

“With three states in play on Sunday, support for Merkel’s Christian Democratic Union declined in the southwestern region of Baden-Wuerttemberg — the biggest prize — in Saxony-Anhalt in the formerly communist east and in the western region of Rhineland-Palatinate compared with five years ago, according to exit polls for national broadcaster ARD,” Bloomberg reports, adding that “If confirmed, the results would mean the CDU failed in its bid to win back Baden-Wuerttemberg and take Rhineland-Palatinate

Some 20% of Germans live in the regions at stake. That means Berlin will need to seriously consider what the results say about voters’ mood before the next federal ballot in 18 months. Turnout, Bloomberg says, was higher than the last elections in 2011.

“The party’s surge could reduce the sway of Ms. Merkel’s conservatives in state legislatures and put renewed pressure on the chancellor to shut Germany’s doors to migrants—a step she has so far rejected despite about one million arrivals last year,” WSJ wrote, earlier today.

AfD won’t be able to do much from the state level when it comes to affecting the country’s policy on refugees, but the groundswell of support for the nationalists is just the latest sign that Europeans have soured completely on the notion that the Mid-East’s problems are something Europe should have to solve.

“Even those who vote for it don’t think the party has better policies or can contribute to the solution. It’s just about teaching ‘them up there’ a lesson,” Interior Minister Thomas de Maizière said.

He’s probably correct. But a loss is a loss, and if Sunday’s results are any indication of what’s coming, Germany may be headed for rough political waters.

…read more

Source: Merkel Heading For Humiliation As State Elections Swing To Anti-Immigrationists

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By Tyler Durden

If at first you don't succeed, keep trying to call the bottom in oil prices.

As Bloomberg writes, catching a falling knife is hard, especially when it’s covered in oil. The International Energy Agency today said oil prices may have bottomed out. Several people have tried to call the oil’s floor since prices started falling in the summer of 2014. So far nobody has been right.

Of course it's different this time, this really is the bottom. Except, with ETF shorts having collapsed to “norms” the buyers of last resort will have their work cut out maintaining the dream with no one left to squeeze…

Charts: Bloomberg

…read more

Source: A Short History Of (Unsuccessfully) Calling A Bottom In Oil

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By Tyler Durden

Back in August,

Popular discontent with President Dilma Rousseff has waxed and waned over the last six months along with the prospects for the opposition’s impeachment bid. At times, it looked like Rousseff might be on her way out, but political wrangling and questions about whether House Speaker Eduardo Cunha – the lawmaker pushing hardest for the President’s ouster- accepted bribes complicated the process.

As Bloomberg wrote earlier this week, a string of recent events tied to the seemingly never-ending Carwash Probe – the 2-year long investigation into corruption involving Petrobras – have brought prosecutors ever closer to Rousseff. That, combined with the fact that the country is mired in a deep economic downturn characterized by double-digit inflation and soaring unemployment has the public at wit’s end.

“On Feb. 22, Rousseff’s top campaign strategist, João Santana, was arrested for allegedly receiving $7.5 million, [then] the magazine IstoE reported that the government’s former leader in the senate, Delcídio do Amaral, had alleged that Rousseff had pushed judges to release political allies imprisoned on charges of graft,” Bloomberg recounted. Finally, former President Luiz Inácio Lula da Silva was held for questioning and five days later, he was charged with money laundering.

The BRL soared on the news as the market apparently believed the chances that Rousseff would be impeached were meaningfully higher after Lula’s detention.

On Sunday, protesters have once again taken to the streets by the “hundreds of thousands” to call for Rousseff’s departure. “As of about 10 a.m. local time (9 a.m. ET), demonstrators in green and yellow, the colors of the Brazilian flag, had begun to amass in locations including Rio de Janeiro’s Copacabana beach and at the National Museum in Brasilia, the nation’s capital,” Bloomberg reports. “Nearly 400,000 people had signed up on a Facebook page pledging to take part in opposition marches.”

“The Sunday protests, if they are nationwide, will in many ways put spine in the opposition or take the spine out of the opposition,” Matthew Taylor, an associate professor at American University, told WSJ.

“You can see that I don’t look like one who is about to resign,” Rousseff, speaking at the presidential palace on Friday. “I won’t leave this post without reason.”

We’re not sure what would count as a “good reason” in Rousseff’s mind, but if “massive public outcry” qualifies, then she pretty clearly has cause to consider bowing out.

As WSJ goes on to note, “four street marches between March and December drew ever-dwindling numbers of supporters [as] critics said the protests were devolving into carnivalesque parties.”

“If you have few people on the streets, fewer people than in previous protests, it will be a bucket of cold water on the opposition,” Mendonça Filho, a federal legislator and coordinator of a pro-impeachment group said.

As in Venezuela – where street protests …read more

Source: Hundreds Of Thousands Stage Massive Street Protests In Brazil, In Loud Call For Rousseff’s Ouster

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By Tyler Durden

Submitted by Claire Bernish via TheAntiMedia.org,

Eagles of Death Metal lead singer, Jessie Hughes, made a stunning statement in an interview with Fox Business Network: He believes it’s possible security guards at the Bataclan Theater knew about the Paris terror attacks in advance.

As a veteran performer, Hughes realized something was odd the night leading up to the attack, when the security guard for the backstage area didn’t make eye contact with him.

“When I first got to the venue and walked in, I walked past the dude who was supposed to be the security guard for the backstage,” Hughes recalled, noting the guard’s odd demeanor.

“I immediately went to the promoter and said, ‘Who’s that guy? I want to put another dude on,’ and he goes, ‘Well, some of the other guards aren’t here yet,’ and eventually I found out that six or so wouldn’t show up at all.”

Though Hughes refused to speculate at length “out of respect for the police investigating,” he added, “It seems rather obvious that they had a reason not to show up.”

Watch the latest video at video.foxbusiness.com

On November 13, 2015, 89 people were killed — including the band’s merchandise manager, Nick Alexander — and 200 were injured, when attackers stormed the Bataclan during the Eagles of Death Metal show.

After the attack and a brief break, the American band returned to complete their European tour last month, though they recently canceled due to an injury.

Fox Business Network aired the first portion of Kennedy’s interview with Hughes on Wednesday, and the second part is scheduled for tonight at 8 pm, EST.

…read more

Source: ‘Eagles Of Death Metal’ Frontman Says Guards Knew About Paris Attacks In Advance

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By Tyler Durden

June euro futures, 20 minute candles. At first, the euro did what it was “supposed” to do – and then it went “yen” on the Dragon and his minions – click to enlarge.

Similar scenes played out elsewhere. Here is for instance a 20 minute chart of the June Bund futures contract, which was subject to a similar sudden change in market opinion:

Instant hangover in Bund futures – click to enlarge.

Other playthings were similarly impacted, from the DAX to gold. All the stuff that used to habitually react in a certain manner to more ECB largesse essentially did the opposite of what it was “supposed” to do.

Readers may recall the last time when a similar thing happened. That was on occasion of Kamikaze Kuroda’s attempt to smite putative yen bulls by cutting the BoJ’s deposit rate into negative territory.

That didn’t quite work out as planned either… – click to enlarge.

Kuroda “only” decided to emulate the fashionable new European central planner absurdity of imposing negative interest rates, which means that according to the Keynesian rule-book, he “didn’t do enough”. However, it was a surprise move, as he seemingly had publicly ruled out negative rates only one week earlier.

As we have previously remarked, this adverse (from the perspective of the planners) market reaction had to be taken as yet another sign that the irrational faith of market participants in central bankers is beginning to crumble.

Evidently Draghobert concluded from this that he had to throw the whole kitchen sink and then some at the markets, so as to dispel the misguided notion that he was “running out of ammunition” (this idea is indeed misguided – there is no limit to the madness central bankers can inflict). This is what came over the wires ahead of his press conference:

“At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

(1) The interest rate on the main refinancing operations of the Eurosystem will be decreased by 5 basis points to 0.00%, starting from the operation to be settled on 16 March 2016.

(2) The interest rate on the marginal lending facility will be decreased by 5 basis points to 0.25%, with effect from 16 March 2016.

(3) The interest rate on the deposit facility will be decreased by 10 basis points to -0.40%, with effect from 16 March 2016.

(4) The monthly purchases under the asset purchase programme will be expanded to €80 billion starting in April.

(5) Investment grade euro-denominated bonds issued by non-bank corporations established in the euro area will be included in the list of assets that are eligible for regular purchases.

(6) A new series of four targeted longer-term refinancing operations (TLTRO II), each with a maturity …read more

Source: A Whiff Of Panic & The Pretense Of Europe’s Monetary Cranks

    

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By Tyler Durden

Five years after the Fukushima disaster, things are getting worse.

As we

Eight faults run under the premises of the Shika power station. Of these, three faults called S-1, S-2 and S-6 have been subject to close scrutiny. The S-1 fault lies directly under the No. 1 reactor building, a facility designated as an important facility under the new regulatory criteria.

Although stratum slippage at the S-2 and S-6 faults does not reach the surface, these faults run immediately under the Nos. 1 and 2 reactor turbine buildings. This means the No. 2 reactor cannot be reactivated unless measures are taken to reinforce its safety, such as increasing the reactor’s earthquake-resistance level and changing the layout of its piping.

This being Japan, however, where Tepco was hiding for years the full severity of the Fukushima explosion and putting millions of people in danger in the process, denial is rife and the power company has already submitted an application for a safety inspection of the No. 2 reactor, asserting that the fault is not active, based on its own investigation. No difference in levels has been
discovered in other locations along the S-1 fault, according to the
company. The utility also intends to file a similar application regarding the No. 1 reactor in the near future.

Because if you can’t trust a Japanese nuclear utility company who can you trust.

After taking the panel’s conclusion into account, the Nuclear Regulation Authority will make a decision during safety reviews as to whether the fault in question is active. We expect its opinion will be well greased by a modest monetary exchange under the table. What is most disturbing however, is that as the Amari bribe scandal showed, in Japan even when bribes are involved the amount of money is so modest that it hardly merits putting people’s lives in danger, and yet that’s precisely what will happen.

On the other hand, since global central bankers have made hope into a strategy, in fact the only strategy, why should the threat of another Japanese catastrophe be exempt?

…read more

Source: The Next Fukushima? Active Fault Line Discovered Directly Below Japanese Nuclear Power Plant

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By Tyler Durden

As a direct result of Europe’s refugee crisis, new and very unpleasant social fractures have started to emerge.

One particularly troubling issue is the extent to which officials have tended to “blame the victim” in the ever more frequent sex attacks resulting from Europe’s refugee surge, something we first touched upon

As reported on Tuesday, “women in a town in northern Sweden have been warned not to walk alone at night in the wake of a spike in violent assaults and attempted rapes.

Police in the town of Östersund made the unusual move to ask women not to go out unaccompanied after dark, after reports of eight brutal attacks, some by ‘men of foreign appearance’, in just over two weeks.”

It is extremely unusual for Swedish authorities to make such warnings, and it has not been well received in Sweden, a country proud of its progress in gender equality and women’s rights.

All incidents have taken place in Östersund since the 20th of February, and involved outdoor attacks where the perpetrators have been unknown to their female victims. A police spokesperson added that in addition to the increased frequency, the attacks are also conspicuous as – despite being carried out late at night – none of the perpetrators were drunk.

The observation of “sober rapists” aside, the force’s recommendation that women should avoid being alone at night swiftly prompted criticism in Sweden, a nation that prides itself on promoting gender equality.

According to the Local, “The solution can never be to not go out because of such a warning. We have very many women who work in home and social care at night for example. What are they supposed to do?” the city’s mayor Ann-Sofie Andersson told Swedish broadcaster SVT.

“It’s wrong if it calls on women to adapt to the criminals. It risks leading people the wrong way, if the victims must adapt to the perpetrators,” he said.

There is another word for it: appeasement, and history is rife with examples of how appeasement results in an ever greater threat by the appeased party, in this case refugees who flood European countries as a result of Angela Merkel’s policies.

As the Mail reports, the infamous town of Östersund which is now a no-go zone for women after eight, has seen a surge in sex attacks in just the past three weeks. The most troubling recent examples:

• February 20: Two ten-year-old girls were groped by a group of adult men. Police say the men surrounded the girls at a bus station and started to touch them while threatening to rape them. Adults saw what was happening and intervened before the men escaped.
• February 21: A women was walking alone at midnight in the town centre when a man passing by made sexual remark. The woman responded by calling him …read more

  Source: "Never Seen Anything Like This Before" – Sweden Stunned At "Unreal" Surge In Refugee Sex Attacks

      

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