The battered Mexican peso has tumbled to historic new lows in recent days, nearing a psychological barrier of 20 pesos to the U.S. dollar and causing anxiety on the streets, at businesses and in the halls of government.
Among other factors, many point to the recent rise in U.S. presidential polls of Donald Trump, the Republican nominee who has vowed to build a wall along the U.S.-Mexico border and has been widely accused here of Mexico-bashing.
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Time For Truth: (LA Times) – Fears for Mexico's economy grow as the peso nears the 20 to the dollar mark
According to the Justice Department, certain donations to the Oscar winner’s charity came directly from a multibillion-dollar embezzlement drama in Southeast Asia.
On the evening of July 20, under a tent at a vineyard in St. Tropez brimming to his specifications with booze, billionaires and babes, Leonardo DiCaprio was preparing to host one of the glitziest charitable events of the year: the third annual fundraiser for his Leonardo DiCaprio Foundation. Earlier that same day, under far less glamorous auspices half a world away, the U.S. Department of Justice was filing a complaint with the U.S. District Court in downtown Los Angeles that suggested the recent Oscar winner is a bit player in the planet’s largest embezzlement case, totaling more than $3 billion siphoned from a Malaysian sovereign wealth fund called 1MDB.
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Time For Truth: (10 News) – Leonardo DiCaprio, the Malaysian Money Scandal and His "Unusual" Foundation
Investors turned risk averse, sending U.S. stocks to their biggest drop in four weeks amid a selloff in equities from Japan to Europe as oil’s plunge into a bear market rekindled global growth concerns. Gold climbed with the yen amid demand for havens.
A top aide to then Secretary of State Hillary Clinton appeared to mock the appointment of a major Democratic donor with little experience to a sensitive government intelligence board allowing him the highest levels of top secret access.
Rajiv Fernando, who contributed to Clinton, her family’s foundation and Barack Obama, was named to the International Security Advisory Board in 2011, though he resigned days later after his appointment was questioned.
Just as we warned was probable, The PBOC sent a message loud and clear to the newly hawkish Fed following today’s surge in the dollar after the minutes were released. With the 2nd biggest daily devaluation since the August collapse, China pushed the Yuan fix against the USD down to its lowest since early February – barely above the January lows. As we warned earlier, the China-Panic trade looms loud now as turmoil appears all that is left to stop The Fed unleashing another round of liquidity-suckiong rate hikes sooner than the market wants.