Frontrunning: May 18

  • FBI’s Russia Probe Gains Credibility With Mueller In Charge (BBG)
  • Trump storm hits stocks again but dollar steadies (Reuters)
  • Flynn stopped military plan Turkey opposed – after being paid as its agent (McClatchy)
  • Kremlin declines to comment on probe of Trump ties with Russia (Reuters)
  • Trump To Announce $350bn Saudi Arabia Arms Deal – One Of Largest Ever (Ind)

"Bears Need More": Why One Trader Thinks The Selling Is Now Over

"While bears awake on panic, rumors and speculation, they ultimately need the sustenance of genuine negative fundamentals to stay alert and maintain their focus for a persistent bout of risk aversion. Right now there are thin pickings for them.... In fact, the worst is probably over already for U.S. equities."

Trump Campaign Said To Have 18 Previously Undisclosed Russia Contacts: Reuters

Michael Flynn, other advisers to Donald Trump’s campaign were in contact with Russian officials, others with Kremlin ties in at least 18 undisclosed calls and emails during last seven months of 2016 presidential campaign, Reuters says noting that there is "no evidence of wrongdoing or collusion between the campaign and Russia."

Former FBI Director Mueller Appointed Special Counsel Of Russia Probe

Deputy AG Rod Rosenstein"In my capacity as acting Attorney General, I determined that it is in the public interest for me to exercise my authority and appoint a Special Counsel to assume responsibility for this matter.  Special Counsel Mueller will have all appropriate resources to conduct a thorough and complete investigation, and I am confident that he will follow the facts, apply the law and reach a just result."

As Trump Heads To MidEast, Is His Plan Finally Becoming Clear?

The first stage of U.S. President Donald Trump’s plan to restore America’s former dominance as a manufacturing country will be announced this coming weekend in Riyadh Saudi Arabia and Washington DC, but its outlines are now already more than clear.

Sweden Inches Closer To Cashless Society As Churches And Homeless Now Accept Plastic

Swedes are ditching their physical currency at a breakneck pace with notes and coins in circulation dropping consistently for the past 6 years and down over 15% in 2016 alone.  In fact, the avoidance of cash has become so prevalent in Sweden that churches, and even the homeless, now accept plastic and/or digital payments.

World Money: Five Hidden Signals From The IMF

"By the time the final loss of confidence arrives, much of the damage will already have been done. The analytic key is to look for those minor events pointing in the direction of lost confidence in the dollar... With that information investors can take defensive measures before it’s too late."

Cyber Attacks Are The Perfect Trigger For A Stock Market Crash

"The NSA and its Silicon Valley partners literally created this monster; a monster which has the capacity to attack otherwise secure banking networks like SWIFT. This begs the question - how much of the global banking system and global stock exchanges are open to attack with these same NSA exploits. I would suggest that ALL of them are."

Are Auto-Makers Bailing On Their Job-Creation Pledges?

Carmakers quickly kowtowed to Trump after his 'surprise' win in November, allowing the then-president-elect to take credit for their pledges to hire thousands of workers and keep U.S. factories open. At the time, fears of a 35% import tax were enough to keep them in line. But now that Trump is having trouble whipping votes in Congress, WSJ is asking: When will corporate America jump ship?

 

The Most Important Question That No One Is Asking...

With every mainstream media orifice chock full of prognosticators speculating on what Trump must have done given the anonymously-sourced reports about Comey, Russia, and Cock-holsters; there appears to be one question that very few dare ask...

McMaken: Dismantle The FBI, And Give Its Money Back To The States

With James Comey's firing, we're told the FBI is in turmoil, and Washington DC cocktail parties are all atwitter over the excitement of the scandal. But don't worry about the FBI. If history has proved anything, the Bureau, no matter how much chaos it may endure, can always rely on a fat check from Congress - funded by the American taxpayers.

Trump Responds To Appointment Of Special Counsel

"As I have stated many times, a thorough investigation will confirm what we already know - there was no collusion between my campaign and any foreign entity.  I look forward to this matter concluding quickly.  In the meantime, I will never stop fighting for the people and the issue that matter most to the future of our country."