Muddled Messaging Ripe For Opposition

One can’t help when looking at all the geopolitical as well as threats of non-containment of the deadly Ebola virus and wonder: Who’s in control here? Here’s a hint – it’s not the people lining up to give the message via oratory salvos. One thing has now been shown in vivid detail: The more messaging put out along these same lines will only make it abundantly clear to any and all opposition that those in charge haven’t a clue.

Hundreds Of Yazidis Found In ISIS Mass Grave, Many Buried Alive

If the stated purpose of US intervention in the "country formerly known as Iraq", which saw the fourth consecutive US president launching military strikes in a nation now absolutely destroyed thanks to US involvement, was humanitarian (it isn't) and allegedly to "protect" the Yazidi ethnic minority members stuck on a mountain near Sinjar, then it needs some fine-tuning. The reason: as Reuters reports, Islamic State militants have slaughtered at least 500 Yazidis during their latest offensive in the north, with Iraq's human rights minister Mohammed Shia al-Sudani adding that the ISIS jihadists also buried alive some of their victims, including women and children. Some 300 women were kidnapped as slaves, he added.

Retail Investors About To Get Fleeced Again

According to the recent AAII Asset Allocation Survey by retail investors, cash levels in July dropped to the lowest level since 1999 at only 15.8%. It appears that the average retail investor has once again been led astray by monetary pumping.

Spot The (Airstrike) Difference

One can only hope the US military doesn't confuse kinetic strikes on the same Iraqi Jihadists it provides weapons and training to in Syria as seen in the clip below... with what it claims is a humanitarian air drop, as seen in the clip below.

As Obama Launches Another Iraq Assault, Here Is An Undercover Look Inside ISIS

While the biggest geopolitical news of the past week was Obama's announcement he would become only the fourth president in a row to order military action in Iraq, explicitly targeting the ISIS jihadists, the far bigger question are the developments that spurred the administration to finally act. Here are, courtesy of Vice News, the first two parts of a series looking at life in the Islamic State caliphate. Vice News reporter Medyan Dairieh spent three weeks embedded with the Islamic State, gaining access to the group in Iraq and Syria as the first and only journalist to document its inner workings.

Airplane Crashes On Takeoff From Tehran Airport, Most Passengers Killed

It has not been a good summer for airplane travel, and following the latest news out of Iran, where earlier today an Iran-140 Sepahan Air passenger plane bound for Tabas in northeast Iran with 48 passengers and crew on board crashed on a road near Tehran’s Mehrabad airport on Sunday, killing at least 38 people, things just got even worse.

Nigeria Man Tested For Ebola In Hong Kong; Would Be First Case Of The Disease In Asia

With increasingly more cases - for now, largely isolated - of suspicious Ebola infections reported out of Africa and around the globe, it was only a matter of time before one of the world's most densely populated megapolises at 17,024 people per square mile, Hong Kong, raised the alarm as well. Which it did moments ago when Hong Kong's Centre for Health Protection said on Sunday that a man from Nigeria is being tested for the deadly Ebola virus at Princess Margaret Hospital. If confirmed, it will be the first case of the disease in Asia.

De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “"The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China," the Russian regulator said.

Obama Celebrates The 50th Anniversary Of The Gulf Of Tonkin Resolution By Bombing Iraq

Fifty years ago yesterday, on August 7, 1964, Congress passed the now infamous Gulf of Tonkin resolution, which led to a massive escalation of America’s involvement in the Vietnam War. Without a formal declaration of war, the resolution permitted President Johnson to take “all necessary measures” to support South Vietnam, including armed forces. This resulted in 58,000 dead Americans and well over a million dead Vietnamese, both civilians and military personnel. Things clearly haven’t changed much when it comes to U.S. foreign policy. After all, how did Barack Obama celebrate the 50th anniversary? By bombing Iraq again of course.

This Is The Longest Streak Of High-Yield Outflows On Record (And Why It May Get Worse)

When we first brought the market's attention to high-yield credit's flashing red warning, it was shrugged off as unimportant by most - stocks are rallying so who cares (even though we explained in detail why equity investors should care). Now that the mainstream media has all become high-yield bond experts we thought it worth considering how much worse this could get. As Barclays notes, for those keeping track, retail funds have thus far seen 22 consecutive days of redemptions for a total of $16.9bn in assets - the longest streak in history and while the effect of retail selling on valuations has not been negligible, it has also not been proportionate to the magnitude of the outflows (yet).

BofA Warns "Wealth Effect" Spending Muted, Consumers Cautious

Consumer spending was soft in July. BofA data shows retail sales ex autos, measured from spending on credit and debit cards, increased only 0.3% mom seasonally adjusted. This , BofA warns, sends a somewhat weak signal in advance of next week’s retail sales report. Crucially, while supply of credit is abundant, BofA's Michelle Meyer concludes demand is weak and this cautious consumer behavior suggests the positive effect on spending from wealth creation may be muted in this cycle.

What Every Well-Dressed Indian Businessman Is Wearing This Summer - A $210,000 Gold Shirt

18 months ago - before The Reserve Bank Of India went full gold-tard (raising duties and capital controls), 32-year-old Datta Phuge unleashed his $25,000 gold shirt on the world's women, proclaiming "I know I am not the best looking man in the world but surely no woman could fail to be dazzled by this shirt?" However, as RBI has lifted some gold restrictions (realizing the error of their ways after smuggling exploded), we introduce 45 year-old politician and textile magnate Pankaj Parakh... and his $250,000 gold shirt weighing 3.3 kilograms which took 20 people 3,200 hours to create. Now, if that doesn't get him laid (or shot) we don't know what will...

How The Fed Creates Money

What does the future look like for fiat currencies? (e.g. the dollar, the euro, the yen, the pound...) In the case of the dollar (which operates similarly to the other major world currencies), we know that - since all are "loaned into existence" - all dollars are backed by an equivalent amount of debt. Debt upon which interest must be paid. As all outstanding debt must compound over time at the rate of its interest (at least), we come to this important conclusion: Our money system is designed to grow exponentially. And it requires ever more debt in order to do so.

This Is How Putin's Advisor Sees The Ukraine Crisis Playing Out

“The point of a series of regional wars organized by the Americans, especially today’s catastrophe in Ukraine, centers on the U.S. securing control over all of north Eurasia” to bolster “its position against China. That’s how the U.S. military and oligarchs are trying to maintain leadership in the global competition with China....Task no. 1 is to block those threats to economic security that are now coming from the U.S., neutralize them by reducing the dependence of our external economic activity on the mercy of American politicians, whose aggressiveness threatens the entire world."

The Gold Market: An Analysis Of Recent Geopolitical, Economic And Banking Events

Physical gold is migrating to the East (Russia, China) and, with it, power and influence. We see it with China and Russia progressively imposing their will, building consensus with a great many countries that wish to end American domination made possible by their capacity (privilege) of issuing the world reserve currency. The saying, “He who holds the (physical) gold makes the rules”, is truer than ever. The announcement of the creation of the BRICs development bank is just the first cornerstone in the new international monetary edifice. All we have to wait for is the first official announcement from the East of a new means of settlement of commercial trade based on one or more tangible assets, with gold. Afterwards, logically, an announcement of the convertibility of certain currencies into gold, or even the creation of a new currency that would be convertible to gold, should be made.