"It's Not Panicking If You're First" - China Devaluation Is Closer Than Anyone Thinks

People are assuming there’s only one way to fight a war today of global proportions. We're not in that camp. We believe it will come monetarily – not military. At least at first. For once it takes place all bets are off as to what happens next. The obvious first mover advantage for China (and all its current allies) would be to use the rhetoric coming out of the current U.S. political arena, along with current, as well as proposed monetary policies via the Fed, ECB, and Japan.

Anti-US Sabotage Suspected After Massive Fire Breaks Out Near NATO Headquarters In Turkey

A massive fire erupted near a NATO base in the Buca district, near Izmir, Turkey. The fire broke out on Sunday evening in western Turkey. The fire blew through the grassy wooded area and is now perilously near NATO’s military base pushed forward by strong winds.  In odd twist, local authorities are investigating the fire as a possible act of anti-American sabotage. The fire erupted shortly after Erdogan's leading Islamist paper headline officially targeted a US commander as coup leader adding his name & picture

"Champagne Supernova" - IceCap Asks What Happens When The Bond Bubble Finally Pops

Most investors today have no idea what is happening in the bond market today and have exposed themselves to incredible amounts of risk. Because a global crisis in the government bond market has never occurred in our lifetime – advisors, financial planners and big banks continue the tradition of telling their clients that bonds are safer than stocks. As a result, investors remain heavily invested in the bond market and are therefore smack dab in the middle of the riskiest investment they’ll ever see.

Celebrating 45 Years Of Phony Money

In the pre-1971 economy, it was Main Street that produced wealth and accumulated real dollars. After 1971, it was Wall Street that controlled access to the new counterfeit money – and made sure it captured much of it. The new system gave the feds the “flexibility” they were looking for. But it completely changed the nature of our money and our economy.

 

Democrats Accuse Russia Of Hacking DNC Server To Help Donald Trump

"What is disturbing to us is that experts are telling us that Russians broke into the DNC, stole these emails and other experts are now saying that the Russians are now releasing these emails for the purpose of actually helping Donald Trump. I don't think it's coincidental that these emails were released on the eve of our convention here and that's disturbing."

Peak Oil 'Demand' & The Duelling Narratives Of Energy Inventories

Crude oil inventories in the U.S. have fallen 23.9 million barrels since the end of April, but, as Bloomberg notes, oil bulls counting on further declines are fighting history. Over the past five years refiners' crude demand has fallen an average of 1.2 million barrels a day from the peak in July to the low in October... "The rough part will be once refineries start going into maintenance,... we aren’t drawing down inventories very fast and the pressure on prices will increase."

Michael Hudson Exposes 2016's Real 'Class War': Krugman's Neocon Neoliberalism Vs Trump's Righteous Populism

"So this is really the class war. And it's the class war of Wall Street and the corporate sector of the Democratic side against Trump on the populist side...Krugman has joined the ranks of the neocons, as well as the neoliberals, and they're terrified that they're losing control of the Republican Party. For the last half-century the Republican Party has been pro-Cold War, corporatist. And Trump has actually, is reversing that. Reversing the whole traditional platform. And that really worries the neocons..."

G-20 Meeting Ends With Rising Discord Between China And US

While the G-20 group traditionally tries to put on a united front, a curious divergence emerged following the latest meeting in China, where as Bloomberg notes Chinese and U.S. officials "showed signs of being at odds on how synchronized efforts to boost global growth need to be, with China stressing the need for improved coordination more than the U.S."U.S. Treasury Secretary Jacob J. Lew on Thursday talked down the need for crisis-level coordination as he headed to Chengdu, China, for the meeting.

Busting Media Myths On Peak Oil

Depending upon whom you speak with, peak oil is either a catastrophe waiting to happen or a far-off concern that has already been solved or will be soon. Frequently, peak oil is referred to as a myth. What you rarely hear is that peak oil is an empirical fact having already occurred in dozens of countries.

DNC Chairwoman "Quarantined" From Convention After Sanders Demands "Someone Be Held Accountable" For Emails

In a shocking turn of events for the new normal, it appears that Bernie Sanders' campaign demands that "someone in the DNC be held accountable" over the leaked emails showing collusion to undermine any Clinton opposition, have been heard. As CNN reports, DNC Chair Debbie Wasserrman Schultz will not speak at or preside over the party's convention this week. As one top Democrat said "she's been quarantined."

Foreign Buyers Continue to Inflate Global Residential Real Estate Bubbles - This Will End Badly

We have frequently talked about the negative future consequences of hot international money chasing “safe” foreign real estate investments. As such, our interests were piqued to discover that the average price paid by Chinese investors in US residential real estate for 2016 continued its meteoric rise to $937k from $832k in 2015, a mere 20% CAGR since 2011 vs. only 4% for the U.S. market overall. They must see something the rest of us are missing.

The Real Message From Asset Inflation

The earliest signs are developing of hyperinflation, more correctly described as a collapse of the purchasing power of all the major government currencies. Extreme one-way bets aside, the overriding reason for valuation disparities is becoming more consistent with the downgrading of cash, rather than a revaluation of assets

Munich Shooter Planned Attack For A Year Germany Alleges; May Use Military During Next "Extreme Situation"

In addition to pivoting away from a story of "radical Islam" striking again, despite objections of a narrative that just does not fit,  Germany is now doubling down on a story of a sick, mentally-troubled individual, who played a lot of first-person shooter video games, who had been bullied by his classmates, and who decided to take out his anger on fellow children in a mass shooting which ended with his suicide.  Most importantly, Germany has now opened the doors to summoning the Bundeswehr  - the military - the next time an "extreme situation" such as this one takes place