Nobel Prize for Trump?
As Pres. Trump prepares to meet with Xi Jinping in Florida, Pyongyang has snubbed the great powers and the United Nations by lobbing another ballistic missile into the Sea of Japan. This sends a defiant signal to China and the US which may just backfire against the Hermit Kingdom and Kim Jong Un. Kim may have overplayed his hand. China no longer requires a land buffer against South Korea, which is hardly a real threat. China's boycott and ban on South Korean brands and banks in reaction to the US placement of defensive missiles near Seoul may be purely for show—or to tempt Kim to go too far.
Dumping Kim will help China develop into the diplomatic and business leader of the region. If our president pulls this off, the master of the art of the deal deserves a Nobel Prize. While I am not a fan of the Donald, I wish him success for the good of our country and the world. He would follow in the wake not of Barack Obama, who got the gong for no good reason, but of Theodore Roosevelt wo got his for a diplomatic breakthrough in Asia.
The President of the Richmond Federal Reserve Bank, Jeffrey Lacker admitted he had been the leaker in October 2012. He has resigned after admitting that he shared information on changes in rate-setting rules of the Federal Open Market Committee (of which he was a member). This was published by a subsidiary of the Financial Times newspaper, Medley Global Advisors, enabling its subscribers to make money on this specialist information. Dr Lacker the leaker will not be charged.
The Mexican peso rose 0.8% against the Greenback yesterday, and in the early market today gained another 0.7% against the dollar, settling at 18.8 per dollar after gaining 17.5% in Q1. We explain what is going on to our paid subscribers below and also give them news from Britain, Sweden, Spain, Chile, Argentina, Canada, Israel, China, India, Japan, South Korea, Russia, Indonesia, The Philippines, Germany, Australia, Finland, Croatia, Hungary, Bosnia, and Montenegro, some of them countries where we rarely report from.