US Accuses Kremlin Of Lying, Says Russia Bombed Syrian Aid Convoy

U.S. intelligence agencies said they believe that Russian aircraft conducted the strike that targeted a humanitarian aid convoy in northern Syria on Monday, effectively accusing the Kremlin of lying. Earlier in the day the Russian Defense Ministry stronly denied that either Russian or Syrian air force had anything to do with the UN strike.

Markets Need To Realize That Nothing Is Forever

As central banks lose their mojo, economic cycles rise from the ashes or policy-makers have to change strategy. The angst caused by recent curve steepening argues that the seeds of doubt about the status quo may finally be taking root. People want to buy this dip, but there’s been very little insistence that it’s time critical. Or level irrelevant. For investors, all of this has dramatically raised the stakes for this BOJ meeting.

"I've Never Seen Anything Like This" – Donald Trump Raises Huge Sums From Small Donors

The larger the percentage of total campaign funds that come from small donors, the more autonomy a President-elect has once in power. He or she won’t owe as many favors, and can truly stick it to the corrupt, unethical oligarchs who deserve it most. As such, the billion dollar question is... "If Trump actually does end up funding much of his campaign from small donors, he has the ability to bring pain to the "elites." But will he?"

Trump & The Press - A Death Struggle

No matter who wins in November, America is going to face a divide unseen in decades. If Donald Trump wins, he will confront a resident media more hateful than that which confronted Richard Nixon in 1968. If Hillary Clinton wins, she will come to office distrusted and disbelieved by most of her countrymen, half of whom she has maligned either as “deplorables” or pitiful souls in need of empathy.

WTI Crude Jumps After Surprise Massive Inventory Draw

Following last week's unexpected draw (following the huge storm-driven draw from the week before), traders expected a 3.25mm build this week but API reported another surprise draw (massive 7.497mm draw!) . The Colonial pipeline leak/shutdown likely had some exogenous effect as Cushing saw a large build but Gasoline drewdown as Distillates inventories rose. WTI prices are surging back to yesterday's highs on the surprise.

How Big An Impact Will A Rate Hike Have On Oil Prices?

Oil prices could be facing a significant jolt after Federal Chair Janet Yellen, in her annual speech at the Jackson Hole economic symposium in Wyoming, said that the case to increase interest rates had strengthened. The extent of the jolt that may be felt is far from certain however.

The ZIRP/NIRP Gods & Their PhD Priesthood Have Failed

The priesthood's insane obsession with forcing people to spend their savings by punishing savers with ZIRP/NIRP has failed spectacularly for a simple reason: it completely misunderstands human psychology.

Wells Fargo Discloses Carrie Tolstedt's Compensation, Answers If Any Will Be "Clawed Back"

Following today's dramatic grilling of Wells Fargo CEO John Stumpf in the Senate which culminated with Elizabeth Warren shouting at Stumpf that "You Should Resign, You Should Be Criminally Investigated"" moments ago Elizabeth Warren, and four Senate Democrats released answers from Wells Fargo to questions about the compensation of Carrie Tolstedt, as well as whether any of it will be clawed back.

East Coast Gasoline Prices Plunge After Leaking Pipeline Bypass Completed

In what was clearly not 'government work' Colonial has completed the bypass of its leaking pipeline early and has told shippers it will restart supplies tomorrow. This has sent near-term gas prices to the east coast tumbling. Great news amid claims from Alabama's governor of price-gouging by retail gas suppliers.

A Messaging Tip For The Donald: It's The Fed, Stupid!

The nation’s rogue central bank is essentially a reverse Robin Hood on steroids. If Donald Trump wants to hit the ball out of the park next Monday evening, therefore, he needs to quickly skip over his dog-eared income tax cut plan and put the wood good and hard to the Fed, Janet Yellen, and our unelected financial rulers.

Janet Yellen's "Footnote 8" - The Negative Rate 'Smoking Gun' That Everyone Missed

Yellen’s Jackson Hole speech was widely reported, so we’ll spare you the summary. What wasn’t widely reported was her Footnote 8. Yellen cited approving a mathematical formula that could put interest rates on autopilot. The Fed hasn’t yet followed the rule, but its presence in Yellen’s paper suggests its use is on the table. Footnote 8 lays the groundwork for negative rates.