Denver Police Arrest "Jury Nullification" Activist For Passing Out Informational Pamphlets

Most of you will be familiar with the concept of jury nullification. Unfortunately, the vast majority of Americans are not. This is precisely why Mark Iannicelli set up a “Jury Info” booth outside the Lindsay-Flanigan Courthouse in Denver. When you recognize the vast power that such a concept holds, you recognize why it would be so hated by statists and authoritarians across the land. That is precisely why Mr. Iannicelli was arrested and charged with handing out information.

Is Asia Set For Another Financial Crisis? Here's Goldman's Take

"Given the size of foreign holdings of Asian equity and debt, should foreigners reduce their portfolio holdings by 2-3% over the course of a month, it would broadly offset the region’s current account surpluses, leaving their external balances in a shakier position. During the 'taper tantrum' period, foreigners sold markedly more than 3% of their portfolio holdings through June and July 2013, highlighting the risk that portfolio outflows could cause further Asian currency weakness."

China Devalues Yuan To Fresh 4-Year Lows, Arrests Top Securities Firm Exec As Stocks Slide Despite Rate Cuts

Update: Chinese Police arrested managing director Xu Gang of China's No.1 brokerage CITIC Securities

The Asia morning begins mixed in stock markets, The PBOC explains itself "this is not a shift in monetary policy," - except it is the first such set of measures since 2008, further deleveraging as China margin debt drops CNY1 Trillion from June peak to lowest since March, Regulators begin probing securities firms (and their malicious short sellers), Index futures trading fees will be raised and trading positions restricted. Stocks are limping only modestly higher (after the rate cuts) as Yuan is fixed at 6.4043 - the lowest since August 2011.

CNBC: No Need For A Fork - It’s Done

Whether it’s intentional or accidental. The more Mom and Pop tunes out – the less to feed on for the HFT’s till eventually there’s no one left to feed on except for themselves – and I believe you are witnessing in real-time this exact phenom which will be brought on not only quicker, but with more ferocity moving forward. For Mom and Pop are not coming back to either the “markets” or CNBC. They’re done.

The Latest Currency War Entrant: India Warns May Retaliate To Chinese Devaluation

Although we've talked plenty about the impact of the yuan deval on Asia-Pac and LatAm, we haven’t yet mentioned India where yesterday, in the midst of the turmoil, central bank governor Raghuram Rajan sought to calm nervous markets by reassuring the world that India is not, for now anyway, in any danger thanks to ample FX reserves and a low CA.Be that as it may, economic realities are economic realities and a currency war is a currency war, which is why, we suppose, the Indian government’s chief economic advisor Arvind Subramanian thinks the country might just have to hit back.

Is China Quietly Targeting A 20% Devaluation?

"Some Chinese agencies involved in economic affairs have begun to assume in their research that the yuan will weaken to 7 to the dollar by the end of the year, said people familiar with the matter. [Their] projections suggest a depreciation of more than 8 percent by Dec. 31 and about 20 percent by the end of 2016."

1929 And Its Aftermath - A Contra-Keynesian View Of What Really Happened

A half-century ago, America - and then the world - was rocked by a mighty stock-market crash that soon turned into the steepest and longest-lasting depression of all time. Those who ignore the lessons of history are doomed to repeat it - except that now, with gold abandoned and each nation able to print currency ad lib, we are likely to wind up, not with a repeat of 1929, but with something far worse...

So This Is Why The "Smart Money" Was Selling The Most Stocks In History

Following the biggest (and only) market correction in years, the biggest weekly surge in the VIX ever, the second wholesale market flash crash in history coupled with the first ever limit down trade in the Nasdaq and the E-Mini, not to mention the biggest intraday bearish reversal since Lehman, it would appear that the "smart money" actually was aptly named.

For Saudi Arabia, The Music Just Stopped: Scramble To Slash Spending Begins As Oil Math Reveals Dire Picture

With declining crude revenues clashing head on with the cost of simultaneously financing the state while intervening militarily in Yemen, the Saudis are looking to tap the bond market (a move which could increase debt-to-GDP by a factor of 10 by the end of next year) and some are speculating that the riyal’s dollar peg could ultimately prove unsustainable. Now, as Bloomberg reports, "Saudi Arabia is seeking to cut billions of dollars from next year’s budget because of the slump in crude prices."

The August 2015 Flash Crash Through The Eyes Of Retail Investors

With professionals proclaiming yesterday's meltdown "historic," and generously telling investors "don't try to overthink what you're seeing," it is clear that the real impact of the carnage wrought by a combination of Fed-indiced crowded trades and HFT illiquidity-providers is yet to be fully appreciated. While Financial advisers, almost unanimously, have cautioned clients not to panic... As one retail investor exclaimed, yesterday's open "was a life-changing 20 minutes."

"It's Still September" Ignore Fed Rate-Hike Warnings At Your Own Peril

Hold onto your bootstraps. Markets are setting themselves up for a surprise as the Fed is still likely to hike rates in September.  Today’s ‘risk-on’ move is a function of those expecting delay.  Rising levels of market volatility are here to stay and will be magnified by this ‘surprise’. Those ignoring the warnings of a rate hike by Fed officials do so at their own peril.

Is This The Stock That Set-Off Today's Collapse?

With some of the biggest hedge funds - including Greenlight, Third Point, Glenview, Lone Pine, Fir Tree, Steadfast, Omega, York, and Canyon - all heavily invested in Sun Edison, we can't help but wonder if the total and utter collapse in the stock from yesterday's highs indicated forced liquidations that smashed it another 18.6% lower today with dramatically escalating volumes into the last hour (when stocks collapsed...)

This Could Be Very Bad News Ahead Of China's Open Tonight

"China halts intervention in stock market so far this week as policy makers debate merits of an unprecedented government campaign to prop up share prices and what to do next, according to people familiar with situation. Some leaders support argument that stock market is too small relative to broader economy to cause crisis, says one of the people, who asked not to be identified as deliberations are private Leaders also believe intervention is too costly, person says."