End Of An Era: The Rise And Fall Of The Petrodollar System

"The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better."

Baton Rouge Rapper Slams Hypocrisy Of 'Black Lives Matter', Don't Care When "We Kill Each Other!"

Just days after Milwaukee Sheriff David Clarke denounced their "hatfeul ideology," and following Brooklyn cop Jay Stalien exposing their "false narrative," the 'Black Lives Matter' group faces more abuse from African-Americans in the nation's communities. Calling out "the bullshit" of the 'Black Lives Matter' movement Baton Rouge-based rapper Kevin Gates has posted a video raging "we kill each other, but as soon as a white boy kills one of us, everybody go to hoopin’ and hollerin’."

Former Fed Governor Admits "Fed Is Not Data Dependent; It Is Propping Up Asset Markets"

"They look to me asset price dependent more than they look data dependent. When the stock market falls like it did in the beginning of this year, they say, ‘Oh, we better not do anything.’ Stock markets are now at career highs. I suspect when they meet next week they will suggest, ‘Oh, now they look like they can be somewhat more responsible.’"

'Brutus' Cruz & The Trump Takeover

About Cruz, a prediction: He will not be the nominee in 2020. He will never be the nominee. If Trump wins, Cruz is cooked. If Trump loses, his people will not forget the Brutus who stuck the knife in his back. Yet, beyond the denunciations of Trump and disavowals of his candidacy, something larger is going on here.

World's Airlines Crashing At Worst Rate Since 2008

With 'terrorist' incidents breaking out everywhere from San Bernardino to the south of France, it is perhaps no surprise that the world's airlines are struggling. But, as Bloomberg notes, over-capacity, rising fuel costs (so far this year), and weaker demand have hurt profits and crushed airline stocks to their worst year since 2008...

Mark Cuban Apologizes To World: "Americans Are Nothing Like Trump"

Outspoken billionaire businessman Mark Cuban apologized to the world last night for the GOP's nomination of Donald Trump for president... "Dear World. Please ignore what the loud guy in the suit is saying. Americans are nothing like him. We love our country and are proud of it," he tweeted, before going on to explain his 7(ish) point plan to ensure Hillary wins the election...

Trump Goes On War Path Against Ted Cruz: "I Don't Want His Endorsement"

Donald Trump tore into his former rival Ted Cruz on Friday morning, saying he would not accept the Texas senator’s endorsement and threatening to fund a Senate challenger against Cruz. "If he gives it, I will not accept it," Trumpsaid at a Friday morning press conference in Cleveland. "He’ll come and endorse in the next little while because he has no choice,” Trump added. “I don’t want his endorsement. Ted, stay home, relax, enjoy yourself."

"What Has Been Will Be Again" - Today's Fantasies Are Vast & Unremitting

Simple logic seems to have been suspended for the near universal disregard of the rules of common sense in the treatment of the money supply of the world.  How long can this possibly persist?  Obviously, at some point, this fantasy will be shattered. For just because central banks have continuously increased their balance sheets in recent years without igniting runaway price inflation doesn’t mean the danger isn’t there.  Remember, correlation doesn’t imply causation.  But it can imply confusion.

Crude Drops After US Oil Rig Count Jumps Most Since 2009

Having risen for 6 of the last 7 weeks, the US oil rig count extended its run with a 14 rig surge this week - the biggest absolute rise since Dec 2015. Oil rigs have now risen 55 rigs in the last 8 weeks - the biggest percentage rise since Dec 2009. WTI is tumbling to fresh 3-month lows on the news...

"The Hillary Leaks" - Wikileaks Releases 19,252 Previously Unseen DNC Emails

The state department's release of Hillary emails may be over, but that of Wikileaks is just starting. Moments ago, Julian Assange's whistleblower organization released over 19,000 emails and more than 8,000 attachments from the Democratic National Committee. This is part one of their new Hillary Leaks series, Wikileaks said in press release.

The Market's Biggest Permabull Is "Scared About The Month Of August"

JPM's former permabull, Tom Lee, needs no introduction: any time he appears on CNBC, his advice has been simple: buy it all. Which is why we were surprised to read that while Lee remains generally bullish on central planning, and its most direct manifestation, new all time highs, he writes in his latest commentary that he is "scared about the month of August."