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Mystery Deepens After US Confirms 16 Diplomats Suffered “Traumatic Brain Injury” In Cuban ‘Sonic Attack’

One of the most bizarre stories this week took a more sinister turn yesterday as the US State Department officially confirmed 16 US Government employees were affected by health attacks in Cuba. State Deaprtment spokesperson Heather Nuarte calmly explained the details, which are quite frankly stunning… .@statedeptspox: We can now confirm that at least 16 […]

US Bans Dealing In Venezuelan Government Debt And New State-Owned Oil Company Debt & Equity

President Trump just signed an executive order deepening the sanctions on Venezuela, confirming the rumors of a ban on trading in Venezuelan debt that sent VENZ/PDVSA bonds tumbling. As we noted previously, on Tuesday evening, the WSJ reported that the U.S. government is considering "restricting trades in Venezuelan debt as it seeks to punish President […]

Sears Death Spiral Accelerates: Vendors Halt Shipments As Cost Of Default Insurance Soars

When we commented back in March on the unexpected “going concern” notice in Sears’ 10-K which sent the stock crashing, we pointed out the immediate spin provided by Eddie Lampert’s distressed retailer which promised that its comeback plan may help alleviate the concerns, “satisfying our estimated liquidity needs 12 months from the issuance of the […]

Cryptocurrencies: The Unfolding Fiat Digital Scheme

Interested in precious metals investing or storage? Contact us HERE    Cryptocurrencies: The Unfolding Fiat Digital Scheme Posted with permission and written by Rory Hall, The Daily Coin (CLICK HERE FOR ORIGINAL)     The feature image below is a depiction of Satoshi Nakamoto. We think it’s the person in the middle, because he looks […]

Mnuchin And Wife Cleared Of Eclipsegate; Viewed Eclipse From Fort Knox, Not Government Plane

We still have no idea where Hillary’s missing 30,000 emails are but, thanks to the intense investigation of one very concerned Washington D.C. watch dog group, we now know exactly where Treasury Secretary Steve Mnuchin and his bombshell wife were standing the moment the moon passed in front of the sun earlier this week.  Per […]

RBOB Prices Tumble, Erase Harvey-Induced Gains

Following WTI crude’s drop yesterday – apparently on reduced refinery demand due to Hurricane Harvey – RBOB gasoline is now tumbling, erasing yesterday’s Harvey-related gains, as traders realize the short-term supply disruptions are offset by significant inventories. As Bloomberg’s Poonam Goyal noted previously, a spike in gasoline prices due to Hurricane Harvey, should be short-lived […]

“Un-Hawkish” Yellen Sparks Dollar Dump To 2017 Lows; Stocks, Bonds, & Bullion Bounce

A lack of hawkishness was good enough for traders to pile into the dovish – sell dollars, buy everything else trade.     The Dollar Index plunged though to cycle lows, near May 2016 1150 lows…   As many predicted, Yellen's speech – while containing some cautions – was a nothing burger. http://WarMachines.com

FX, Bonds, & Gold Chaotic Ahead Of Yellen Speech

While stocks are shrugging off any and everything, FX, bonds, and gold markets are swinging around wildly ahead of Yellen’s speech at 10ET. The initial move appears driven by Fed’s Kaplan’s comments on “correction in stocks may be healthy.” The reversal is being attributed to a note from Citi suggesting “No US Default Or Shutdown […]

“Devastating And Life-Threatening” Harvey Expected To Bring 120MPH Winds And Up To 12-Foot Storm Surge

Hurricane Harvey, the first hurricane to make landfall in Texas since 2008, is strengthening and expected to strike the Texas coast later tonight as a Cat-3 storm with maximum sustained winds near 120 mph according to the National Hurricane Center (NHC).  But perhaps worse than wind speeds, Harvey encapsulates the ‘perfect storm’ as it’s moving […]

RBC: As The Yellen Countdown Begins “You Could Get A Sharp Move Higher In USD”

With Janet Yellen set to speak in just a few minutes, traders are scrambling to position ahead of what while most expect will be a snoozer speech, could actually be a "big surprise" as RBC's cross-asset strategist Charlie McElligott warns in his Jackson Hole preview that, noting that the risk of a dollar rally today […]

Gold Spikes After Fed’s Kaplan Says “Market Correction Could Be Healthy”

Gold is spiking, USDJPY dropping, and stocks leaking lower after Dallas Fed’s Kaplan dropped some serious tapebombs ahead of Yellen’s speech… Speakingon Bloomberg TV, Kaplan headlines wwre as follows… FED’S KAPLAN: WE CLEARLY ARE ACCOMMODATIVE RIGHT NOW KAPLAN: INVESTORS USED TO IDEA RATES WILL BE LOWER FOR LONGER FED’S KAPLAN: MARKET OR REAL-ESTATE CORRECTION COULD […]

Next Stop, Recession: This Financial Meteor Storm Is Headed Our Way

Authored by Charles Hugh Smith via OfTwoMinds blog, Many of those about to be vaporized did not grasp the fragility of the "prosperity" they assumed was both solid and permanent. Business-cycle recessions are not just inevitable, they are necessary to flush bad debt and marginal investments/projects from the system. The next recession–which I suggested yesterday […]

What Do the Great Depression and the Great Recession Have in Common?

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. What follows are six questions and answers that were wedged between cocktails and a dinner hosted by Karl J. Feitelberg, Founder and Chairman of Sterling Resources Ltd. at the Castle Hill Inn, Newport, R.I. on July 24, 2017.     […]

Paradox: With The S&P At All Time Highs, US Stocks Suffer Longest Streak Of Outflows In 13 Years

The paradox of the US stock market continued for yet another week, because according to Bank of America citing EPFR data with the S&P effectively at record highs, US equity funds have suffered their longest outflows streak in 13 years, as investors pulled out another $2.6 from US stocks in the week ending Wednesday. That […]

Durable Goods Orders Plunge In July After Boeing Hangover

July Durable Goods Orders plunged 6.8% MoM (much worse than the -6.0% expectation), more than erasing June's aircraft-order-based 6.4% jump. This is the biggest drop since Boeing's reaction in Aug 2014. Just as we saw in 2014, this is simply the hangover from Boeing's June orders with non-defense aircraft new orders  down 70.7% month-over-month.   […]