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Wednesday, August 26, 2015

Scientists turn cancerous cells back into normal cells

Scientists have discovered a process to turn cancer cells back into normal cells by restoring the balance of key molecules controlling specific cellular functions.

A group of researchers from the Mayo Clinic carried out the research published in the journal Nature: Cell Biology on Monday.

Utilizing the new method in laboratory experiments, the team was able to successfully “reprogram” the out-of-control growth of the cells which would become cancerous. The team noted that further research is required in order to determine if the process would be applicable in human cells.

Dr. Panos Anastasiadis (L) and Dr. Antonis Kourtidis (Mayo Clinic)

"The study brings together two so-far unrelated research fields -- cell-to-cell adhesion and miRNA biology,” said Dr. Antonis Kourtidis from the Mayo Clinic.

The teams discovered that a protein called PLEKHA7 maintains cell’s normal growth and state with the use of micro RNAs, or miRNA. A decline in PLEKHA7 levels results in the misregulation of miRNAs that turn cadherin and p120 catenin from good to bad.

Based on the experiments reported in the study, if the miRNA in cancer cells is increased back to normal levels, the proteins also turn from bad to good which make cancer growth stop.

"By administering the affected miRNAs in cancer cells to restore their normal levels, we should be able to re-establish the brakes and restore normal cell function," said Dr. Panos Anastasiadis, director of the department of cancer biology at Mayo's Jacksonville campus. "Initial experiments in some aggressive types of cancer are indeed very promising."

Credit to Presstv

Iraqi Refugee: ‘We Lost All Our Possessions, But We Haven’t Lost Jesus’

(Open Doors) — Lujah* is in her early seventies. She lives with her younger sister and nephew. They were inhabitants of Mosul, Iraq until the early morning of June 10, 2014. It was on this morning that friends knocked on their door impatiently, urging them to leave.

“We were living at our house with dignity, but suddenly, we had to leave everything behind,” she shares. “I only took a bag of clothes and I grabbed my Bible. We headed right to Qaraqosh, a city near Mosul where a lot of Christians used to live.”

Not more than two months later, they were also driven from Qaraqosh by the Islamic State and fled to Erbil.

What happened to their house? They heard everything was stolen from it and that the “N-sign” (symbol used by IS to identify who is a Nazarene – a Christian) was written on their house after they left.

“There is evil in people’s hearts in Mosul,” Lujah says with a sad voice. “They were giving the Christians a hard time even before IS came. So it is hard for the city to be okay.”

Lujah adds: “We have lost all of our possessions, but we haven’t lost our faith in Jesus.”

Now, the two elderly ladies share a house with four other families. A church is providing support for them in Erbil.

Prayer is their lifeline in this difficult situation. Through studying the Bible, Lujah discovered that it is important to keep her faith and keep praying even if she loses everything.

“Jesus and His Word are the only ones staying,” she says.

Credit to Open House

US Economy Won't Improve Without a Real Recession

Meanwhile In Greece, Pension Funds Tap Emergency Loans

Image result for Meanwhile In Greece, Pension Funds Tap Emergency Loans

This has not been a great year to be a pensioner in Greece. 
Over the course of the country’s fraught bailout talks, Greece’s pension system was frequently in the troika’s crosshairs. As for PM Alexis Tsipras, pension cuts were generally considered to be a so-called "red line" and intractable disagreements over pension reform quite frequently resulted in the total breakdown of negotiations. 
Meanwhile, the increasingly untenable financial situation and acute liquidity squeeze very often meant that payments to pensioners were in doubt, even as Athens went out of its way to assure the public that whatever funds were left in Greece’s depleted coffers would go to public sector employees before they would go to EU creditors or to Christine Lagarde. 
The situation reached it’s "heartbreaking" low point on July 1 when Greek banks that had been shuttered after the institution of capital controls opened for a few hours to ration payments to long lines of pensioners who were forced to effectively beg for €120. 
In theory, the bailout agreement - while promising more austerity and more pressure on the bloated pension system - should at least guarantee that there will be money in the banks to make monthly payments, but that assumption now looks to be in doubt because as Kathimerini reportsboth IKA and ETAA are tapping a contingency fund that guarantees social security programs for fear that the provisions of the bailout will not provide for sufficient enough savings to fund the remainder of this year’s payouts. Here’s the story:
Greece’s state insurance funds are resorting to external loans to cover their needs as fears grow that the measures of the third bailout will not be enough to cover the rest of 2015’s liquidity needs.

The Unified Fund for the Self-Employed (ETAA) received funding from the Generational Solidarity Insurance Fund (AKAGE) to cover its legal and notary workers’ branch. A similar application for 180 million euros has been approved by the board of the country’s biggest insurance fund, the Social Insurance Institute (IKA).

A ministerial decision by Labor Minister Giorgos Katrougalos and Alternate Finance Minister Dimitris Mardas foresees economic assistance to the tune of 20 million euros from AKAGE to ETAA to cover part of the latter’s deficit.
Of the course the punchline to the idea that funds from AKAGE will be used "to cover part of ETAA’s deficit" is this:
The deficit of AKAGE is expected to grow due to the dramatic increase in unemployment, political and economic uncertainty, capital controls, the measures of the third memorandum and the early elections, which are expected to impact on the revenues of insurance funds this autumn.
So in short, the pension funds are broke as is the contingency fund meant to guarantee payouts from those funds. 
So Greece, we truly do wish you the best of luck and as you head back to the polls next month, don’t forget, if things get really bad, you can always storm the mint...
Credit to Zero Hedge

These Are the Final Chest Pains of a Dead Global Economy

financial collapse 2
Good Monday Morning, the world’s stock markets are in free fall and the banks and their worthless paper currencies are next!!!
The world is in the middle of a global economic meltdown. What does that mean? The simple answer is that it will not be long until every modern country is consumed by hyperinflation resulting in the crash of most of the paper currencies on the planet. This will result in an economic shutdown. Starvation will become commonplace. Unrestrained violence will occur and eventually the world will slip into World War III.
I literally have at my finger tips two dozen economic indicators which demonstrates that total and global economic collapse is at hand. In the interest of brevity, I will only highlight two of these indicators and if these were the only indicators, an economic collapse would still be in our collective futures.

A Dead Global Economy

Three weeks ago Reuters reported that shipping freight rates for transporting containers being transported from the ports in Asia to Northern Europe dropped almost 23% to $400 per 20-foot container in the week ended on August 3, 2015 and the data was obtained from the Shanghai Containerized Freight Index. At that time, at least the crippled Baltic Dry Index was holding its own. That is not longer the case. The BDI is in total free fall. Oil prices are in free fall. Very little is moving. The Chinese Stock Market is disintegrating before our eyes. Read this chart and weep. This is the end. There will be no more warnings, only progress reports about the collapse. According to the BDI product is NOT moving!
According to this chart, very soon, nothing will be moving. This means catastrophic food shortages. Medicines will not be shipped. Those who still have jobs will not be able to drive to work.
According to this chart, very soon, nothing will be moving. This means catastrophic food shortages. Medicines will not be shipped. Those who still have jobs will not be able to drive to work. This is why China devalued its currency. And in retaliation, this is China was attacked, twice, this past week. The point of no return has been reached.
To those that are not economically not savvy to the importance to the BDI, I have prepared a brief explanation below.

The Baltic Dry Index

bdiThe  Baltic Dry Index (BDI) is absolutely the best measure of  global economic health. The BDI is used by economists as a leading global economic indicator because it predicts future economic activity. The BDI, uses the U.S. dollar as a benchmark and measures the global supply and the corresponding demand for commodity shipments among bulk carriers. Commodities, in the form of raw materials like grains, lumber, coal and precious metals form the backbone of the BDI. Over time, the BDI is the best indicator of global economic health because, unlike the futures market, the BDI does not engage in speculation as it provide near real time data on what and what is being shipped. The determinations made by the BDI are such an accurate indicator of economic activity because businesses don’t book freighters when they have no cargo to move. In short, the BDI is the world’s financial blood pressure measure. The BDI is said to be one day away from reaching its all-time low. Ultimately, what the BDI tells economists is that we are headed for a depression that will make 1929 look like a picnic.
Back in February of 2015, the BDI had fallen on 43 of the past 47 days because of a shipping strike. Back in February, the world was days away from a total economic shutdown. However, the crisis was resolved and product began to move and the world bought a few more moments of relative peace.

If Product Does Not Get Shipped, You Do Not Eat!

Let’s look at this issue through the lens of common sense. If raw materials are not being transported in sufficient numbers as the BDI strongly indicates, what will happen  to manufacturing? To the cognitive dissonance crowd, please take off your rose colored sunglasses and honestly answer this question, what does a low BDI mean to manufacturing? Low BDI means low manufacturing, period! In turn this means less finished products coming to market. Please note that the BDI includes grains in its analysis. With fewer grains being shipped to market to be packaged and distributed to your grocery outlet, this will lead to severe food shortages. This is not fear-mongering, this is simple Economics 101. Look at the chart representing the collapse of the BDI and ask yourself, where will your Thanksgiving turkey come from?
When the full effect of this impending train wreck is felt, there will not be a government in the civilized world that will be safe from assassination. I know, some of you will say that this will never happen. Well, let’s take a look at what Paul Craig Roberts and Sam Ro said back in February about the conditions in Greece.

European Union Economic Crisis

Two days ago, the Euro declined 1.3% in one day versus the dollar, leaving many European banks fearing that the bottom is falling out of the European Union’s economy. Business Insider’s Sam Ro stated  that Greek banks can no longer exchange Greece’s lowly-rated government bonds for money in the European Union. In other words, the European Union just announced the Greece’s money is worthless. What keeps an economy, in distress, rolling on day after day? The reasons are purely psychological. One Greek accepts Greek bank notes from another Greek because they have confidence that the paper currency can be exchanged for goods and services. When Greek citizens loses confidence in their ability to flip the paper money in exchange for goods and service, the Greek economy will totally collapse. The European Union’s recent decision to not honor Greek paper currency has set into effect a series of dominoes which will culminate in the Greeks not having a paper currency for daily use. Unless the European Union reverses their position, the Greek economy could be days away from total collapse. And under these highly volatile circumstances, anarchy would ensue.
The situation in Greece is so dire that Paul Craig Roberts is openly talking about the real possibility that the Greek government will be assassinated. Roberts believes that it is very possible that the Greek people will turn their back on the West and will accept Russia’s offer to become a member of the BRICS, under the Russian sphere of influence as Robertsindicated.
That makes it difficult to make an agreement with the new Greek government to ameliorate the conditions imposed on Greece.  So it makes the EU inflexible.  That inflexibility gives Greece the cards to say, ‘We’re not playing your game — we’re going to play a different game and accept Russia’s offer.”
To make matters worse global oil prices are plummeting as well in this double whammy which will result in nothing being shipped.
oil plunging
Eurozone collapse is inevitable.
Eurozone collapse is inevitable.
Spain and Ireland’s economy are on the verge of collapse and have been since the summer of 2015. Germany, France and Italy would be better off to be in the Russian sphere of influence given their dependence on Russian gas shipments to these three economies. In short, the European Union will not survive. If the EU is still here in Thanksgiving, I am going to be very surprised.
Although the date of the death of the European Union has yet to be determined. However, it is only a matter of time. And if Paul Craig Roberts assertion that when the Greek government will be assassinated in the coming anarchy, how long will it be until the violence crosses into Spain, Ireland, Italy and then consumes the rest of Europe? And do you expect Putin to idly stand by and not take advantage of the chaos? Stalin would have been salivating at this coming opportunity.
The incompatibility of Muslim immigration has already brought violence to the streets of Sweden, France and several other European countries will exacerbate the economic conditions. Europe is primed and ready for a total meltdown and with the health of the American economy, there is no way that we can save financial backsides of our training partners.  At the end of the day, I think Paul Craig Roberts prediction may be tame. The Greek government will not be the only government running for cover when the proverbial economic poop hits the fan, the violence will spread across Europe like Ebola across West Africa.


Do you think the September date associated with the Pope addressing the United Nations is a coincidence? I recommending that all of us plan accordingly. Does this make Jade Helm’s purpose a little more clear?
Four Hundred of the world’s richest people lost a total of $182 billion this week, amounting to 6.3% of their total and collective wealth. These people are the last line of economic defense, it is over! And what do rich people do when the money begins to run out? ANSWER: THEY START WARS!!!
The Commodities market is at a 13 year low! The only thing that is increasing in value is gold!

These numbers make 2008 look like an economic boom!!!

Are you prepared for what is coming? Have you stored food, water and made agreements of protection with your neighbors. Are you and your family spiritually prepared? It is 30 seconds to midnight, we are out of time.
In summary, I will reiterate what I have said many times before:
This bankster run system does not work for you and me. Buy gold and silver!!!!! Again, take your money out of their banks, stop shopping in globalist stores like Walmart and begin to trade and barter and grow your own food. To do otherwise, is to continue to participate in a rigged game which will culminate in your destruction!
Credit to Common Sense

Jim Sinclair-Silver Will Be Gold On Steroids In Coming Rally

It Is Time To Kick Prepping Into Overdrive, Because This Stock Market Crash Is Just The Beginning

Speedometer - Public DomainIf you have not been preparing for what is coming, you need to get off your sofa and you need to start prepping right now.  Just remember what happened back in 2008.  That crisis took most people totally by surprise.  
Millions of Americans lost their jobs, and because most of them were living paycheck to paycheck, all of a sudden most of them couldn’t pay the rent or the mortgage either.  Large numbers of families that were once living a comfortable middle class lifestyle suddenly found themselves destitute.  Well, this coming crisis is going to be even worse by the time it is all said and done, and it is not just going to be economic in nature.  
Over the past two trading days, the Dow has gone down more than a thousand points.  The shaking that so many have warned about has begun.  As this shaking plays out, you and your family will need cash, food, supplies and a whole bunch of other things.  If you do not already have everything prepared, then you need to kick your prepping into overdrive because we are on a very compressed time frame now.
But don’t just take my word for it.  A top adviser to former British Prime Minister Gordon Brown named Damian McBride is saying the same thing
A former adviser to Gordon Brown has urged people to stock up on canned goods and bottled water as stock markets around the world slide.
And he didn’t just speak in generalities.  According to an article in one of the most important newspapers in the UK, McBride is urging his fellow citizens to do some very specific things…
“Advice on the looming crash, No.1: get hard cash in a safe place now; don’t assume banks & cashpoints will be open, or bank cards will work,” he tweeted.
“Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.
“Crash advice No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to.”
All of that is great advice.
But I wonder why he is so concerned about people being able to live a month indoors.  Does he know something that the rest of us do not?
Others are issuing similar ominous warnings.  The following is an excerpt from a recent article by Chuck Baldwin that seemed to be written with an unusual sense of urgency…
I suggest you have a supply of food and water to last at least three months. Many survival experts insist that a six-month supply is the minimum. Personally, I can live a long time on tuna fish or peanut butter. You can purchase MREs from a variety of sources, as well as camp-style packaged food from many sporting goods stores. Of course, bottled water is available everywhere during normal times. Stock up! Distilled water will store longer than spring water. Plus, I suggest you have some water purification tablets or a Katadyn water filter on hand. And, if you are able, prepare to grow your own food. In cold weather climates such as we have here in Montana, people quickly learn how to construct and utilize greenhouses in which to grow food. Canning food is another very helpful hedge against deprivation. If your parents and grandparents lived through the Great Depression as mine did, this was standard operating procedure.
Get a generator. Keep a supply of fuel on hand. Stay stocked up on batteries, candles, portable lights, first aid supplies, and toiletries–especially toilet paper and toothpaste. I also suggest you never run out of lighters or matches. You never know when you’ll need to build a fire. If you live in a cold weather climate, you probably already have some sort of wood stove or fireplace.
You can read the rest of that outstanding article right here.
Similar sentiments were expressed in a recent piece by prepper extraordinaire Daisy Luther
  • Take your money out of the bank ASAP.  If you still keep your money in the bank, go there and remove as much as you can while leaving in enough to pay your bills. Although it wasn’t a market collapse in Greece recently, the banks did close and limit ATM withdrawals.  People went for quite some time without being able to access their money, but were able to have a sense of normalcy by transferring money online to pay bills or using their debit cards to make purchases.  Get your cash out. You don’t want to be at the mercy of the banks.
  • Stock up on supplies.  Make sure you are prepped. If you’re behind on your preparedness efforts and need to do this quickly, you can orderbuckets of emergency food just to have some on hand. (Learn how to build an emergency food supply using freeze dried food HERE) Hit the grocery store or wholesale club and stock up there, too, on  your way home.
  • Load up on fuel.  Fill up your gas tank and fill your extra cans also. Quite often, fuel prices skyrocket in the wake of a market crash.
  • Be prepared for the potential of civil unrest. If the banks put a limit on withdrawals (or close like they did in Greece) you can look for some panic to occur. If the stores dramatically increase prices or close..more panic. Be armed and be prepared to stay safely at home. (Although this article was written during the Ferguson race riots, civil unrest follows a similar pattern regardless of the cause.)
  • Be prepared for the possibility of being unable to pay your bills. If things really go downhill, the middle class and those who are the working poor will be the most strongly affected, as they have been in Greece during that country’s ongoing financial crisis.  This article talks about surviving if you are unable to pay all of your bills.
Every family is facing a different set of circumstances, so “prepping” is not going to look the same for everyone.  What may make sense for you may not make sense for me.  But the truth is that we all need to get prepared for what is coming, because time is running out.
As I have discussed repeatedly, I have more of a sense of urgency about the last six months of 2015 than I have ever had about any other other specific period of time.  That is why the book that I recently co-authored with survivalist expert Barbara Fix is entitled “Get Prepared NOW“.  The word “NOW” is in larger print than everything else on the front cover because I really wanted to emphasize the urgency of what we are facing.
If you think that you can wait until next year to start getting prepared, you are going to be too late.
This stock market crash is just the beginning.  Next month we are witnessing a convergence of events that is pretty much unprecedented.  If you would like to learn more, here are some places to get started…
The relative stability of the past few years has lulled millions of Americans into a state of complacency.
And even our politicians are displaying a stunning level of complacency.  For example, even though our nation is rapidly going down the toilet, Barack Obama has played more than 1,100 hours of golf while he has been in the White House.
It is time for all of us to awaken from our slumber, because life in America is about to dramatically change.
Do you have some specific tips to share with those that are trying to get prepared for what is coming?  Please feel free to join the discussion by posting a comment below…

Credit t oEnd of the American Dream

While some “economic experts” and the Obamedia strove to smear lipstick all over yesterday's stock market pig, others are keeping one eye on the big picture and the other on historical referents:

The current global stock-market crash is eerily reminiscent of the Wall Street crash of 1929, investment expert and author James Dale Davidson told Newsmax TV.

“What we're seeing, if I could say it this way, is a rerun of 1929 with the main crash falling in Shanghai rather than in Wall Street,” he told Newsmax Prime….

“If you're not scared, you're not watching,” he said….

As to what to expect in the future, he explained that the answer can be found in the past. Specifically, the Wall Street crash of 1929.

“If you look back at these economic crises and stock market collapses that are associated with depressions, the first stage is what we've already seen, which is the big fall off in commodity prices,” he said.

“If you go back to the Great Depression, it didn't start in 1929 in all the countries, he said.

“It started in 1928 in Australia and in Argentina and Brazil, Uruguay, and Finland, Bulgaria, and in Germany. The depression had already begun by 1928 and then we had a huge, huge sell-off in Wall Street, which sort of rang the bell so that anybody who was not watching then knew” that we were in deep trouble.

In other words, it started elsewhere in the world “under the radar,” and then it hit the Dow – not unlike the deflation of the ChiComm “stock market” triggered yesterday's panic.

“We’re into this same kind of cycle as it relates to the collapse of world demand, the fact that we've had commodity prices plunging,” he said.

Image result for iron ingot

“If you go back to December of 2011, the price of iron was $190 a metric ton. Now it's down to $44. We remember the price of oil being up at $140 some dollars and now it's the low $40,” he said. “This is a very significant indication of weakness in the global economy.”

It's a mutually reinforcing downward spiral. The global economy is weak because the U.S. economy is in a permanent, artificially-engineered and -imposed and -maintained depression, and because the U.S. economy is in a permanent, artificially-engineered and -imposed and -maintained depression, the global economy is weak. Bottom line is, if the U.S. economy sucks, the global economy isn't going to boom. Or, as I keep pointing out, there will never be anybody who'll be either able or willing to bail usout.

But then, this recognition of the similarities between today and eighty-six years ago are nothing new:

The New York Stock Exchange, NASDAQ, etc. are, as is frequently argued, not the U.S. economy as a whole. But stock markets are the economy's barometer of confidence – and delusion. It's one of the big reasons why the Obama Fed has been printing money like mad for the past nearly seven years – to conceal just how disastrous the Obamaconomy was, is, and remains. But as I continue to relentlessly and Jeremiacally point out, one cannot spend oneself rich, tax oneself into prosperity, or run up catastrophic levels of debt indefinitely without there eventually and inevitably being equally catastrophic economic consequences. It's a race to the calamitous bottom between hyperinflation and depression that the latter commandingly leads, for which there will be no macroeconomic “cures” as in 2008 because all those “cards” have been played out.

There will only be economic collapse on a massive, worldwide scale, and a final, global war that snuffs out human civilization for good.

That is the parallel with 1929, after all. Except this one will have nuclear weapons.

It's only a matter of time….

Credit to Before it's News

China Has Dumped $100 Billion In Treasurys In The Past Two Weeks

On August 11, China devalued its currency, and in the subsequent 3 days the onshore Yuan, the CNY, tumbled by some 4% against the dollar. Then, as if by magic, the CNY stabilized when China started intervening massively, only this time not through the fixing, but in the actual FX market. 
This means that while China has previously been dumping reserves as a matter of FX policy, after August 11 it was intervening directly in the FX market, with the intervention said to really pick up after the FOMC Minutes on August 19, the same day the market finally topped out, and has tumbled into a correction since then. The result was the same: massive FX reserve liquidations to defend the currency one way or the other.
And yet something curious emerges when comparing the traditionally tight, and inverse, relationship between the S&P and the Treausry long-end: the drop in yields has not been anywhere near as profound as the tumble in stocks. In fact, the 30 Year is wider now than where it was the day China announced the Yuan devaluation. 
Why is that? 
We hinted at the answer on two occasions earlier (here and here) and yet the point is so critical, and was missed by virtually all readers, that it deserves to be repeated once again: as part of China's devaluation and subsequent attempts to contain said devaluation, it has been purging foreign reserves at an epic pace. Said otherwise, China has sold an epic amount of Treasurys in the past two weeks. 
How epic? We turn it over to SocGen once again:
The PBoC cut the RRR for all banks by 50bp and offered additional reductions for leasing companies (300bp) and rural banks (50bp). All these will take effect as of 6 September, and the total amount of liquidity injected will be close to CNY700bn, or $106bn based on today's onshore exchange rate.  In perspective, the PBoC may have sold more official FX reserves than this amount since the currency regime change on 11 August. 
There you have it: in the past two weeks alone China has sold a gargantuan $106 (or more) billion in US paper just as a result of the change in the currency regime!
But wait, there's more: recall that one months ago we posted that "China's Record Dumping Of US Treasuries Leaves Goldman Speechless" in which we reported that China has sold some $107 billion in Treasurys since the start of 2015. 
When we did that article, we too were quite shocked at that number. However, we - just like Goldman - are absolutely speechless to find out that China has sold as much in Treasurys in the past 2 weeks, over $100 billion, as it has sold in the entire first half of the year!
In retrospect, it is absolutely amazing that the 10 and 30 Year Bonds have cratered considering the amount of concentrated selling by China. 
But the bigger question is how much more does China have left to sell, if this pace of outflows continues. Here is SocGen again:
From an operational perspective, China's FX reserves are estimated to be two-thirds made up of relatively liquid assets. According to TIC data, China held $1,271bn US treasuries end-June 2015, but treasury bills and notes accounted for only $3.1bn.The currency composition is said to be similar to the IMF's COFER data: 2/3 USD, 1/5 EUR and 5% each of GBP and JPY. Given that EUR and JPY depreciation contributed the most to the RMB's NEER appreciation in the past year, it is plausible that 
the PBoC may not limit its intervention to selling only USD-denominated assets.

* * * 

China's FX reserves are still 134% of the recommended level, or in other words, around $900bn (1/4 of total) and can be used for currency intervention without severely impacting China's external position.
Should the current pace of liquidity outflows continue, and require the dumping of $100 billion in FX reserves, read US Treasurys, every two weeks this means China has, oh, call it some 18 weeks of intervention left. 
What happens when China liquidates all of its Treasury holdings is anyone's guess, and an even better question is will anyone else decide to join China as its sells US Treasurys at a never before seen pace, and best of all: will the Fed just sit there and watch as the biggest offshore holder of US Treasurys liquidates its entire inventory...

China Devalues Yuan To Fresh 4-Year Lows, Arrests Top Securities Firm Exec As Stocks Slide Despite Rate Cuts

Confusion reigns at Bloomberg also... (look at URL - original title, and compared to title posted at 8pmET)...
And now...
h/t Beermunk
As we detailed earlier:
The Asia morning begins mixed in stock markets, The PBOC explains itself "this is not a shift in monetary policy," - except it is the first such set of measures since 2008, further deleveraging as China margin debt drops CNY1 Trillion from June peak to lowest since March, Regulators begin probing securities firms (and their malicious short sellers), Index futures trading fees will be raised and trading positions restricted. Stocks are limping only modestly higher (after the rate cuts) as Yuan is fixed at 6.4043 - the lowest since August 2011.

Yuan fix weaker for 2nd day to new 4 year lows...

Before China opens, it's worth noting that all the post-China close, pre-China open exuberance from the PBOC multiple rate cut has been eviscerated...

And bearin mind that...
Some more good news as deleveraging continues... lowest since March 2015
But more restrictions are put in place:
As things are not going well in the Communist intervention - so the probes begin (as ForexLive reports)
The South China Morning Post report that four brokers say the CSRC is probing their business
  • Haitong Securities, GF Securities, Huatai Securities and Founder Securities
  • All made stock exchange statements that they had received notices from the China Securities Regulatory Commission
  • For suspected failure to review and verify clients' identities
Along similar lines, Xinhua reported:
  • 8 people from Citic Securities were being investigated for  possible involvement in illegal securities trade
  • A staff member from Caijing magazine was also being probed for spreading rumours
  • A current and a former staff member at the CSRC  were also being investigated for suspected insider trading

Credit to Zero Hedge

Economic 9/11 Is About To Hit Us

Secrets to Protect Yourself From the Market Crash