The Chimera Of 'Stable' Money

'Stable' money was a chimera. It did not bring stability to the world economy. It did not counter the instability emanating from deposit banking. It actually added to the severity of booms and busts. To function efficiently, capitalism needs a foundation of sound money, not stable money.

Over Half Of Hillary's Private Meetings As Secretary Were With Donors Who Paid $156 Million

At least 85 of 154 people who met or spoke to Clinton at  State, donated to her family charity. Combined, the 85 donors contributed as much as $156 million. At least 40 donated more than $100,000 each, and 20 gave more than $1 million. Separately, she met with representatives of at least 16 foreign governments that donated as much as $170 million.

California Supreme Court Decides "Grossly Ineffective" Teachers Should Keep Their Jobs

In the State of California 98% of teachers receive tenure after just 18 months on the job.  Once tenure is received it is virtually impossible for administrators to dismiss a teacher for being even "grossly ineffective."  The California Supreme Court's decision not to review a lawsuit that would have addressed these issues is a loss for California's students. 

WTI Slides After Biggest Inventory Build In 4 Months

Amid the volatility of crude prices, inventory levels, and headline hockey; API printed a surprisingly large 4.464mm crude build (against expectations of a 850k draw). Having spiked early in the day on Iran rumors (and failed to fall on denials), WTI kneejerked lower after the API data showed the biggest crude build in over 4 months (and a bigger than expected build at Cushing).

Jill Stein: In A Time Of Universal Deceit, "WikiLeaks Founder Assange Is A Hero"

George Orwell said, “In a time of universal deceit, telling the truth is a revolutionary act.” Thanks to WikiLeaks, we know that powerful institutions have been abusing their power and lying to the public. WikiLeaks founder Julian Assange is a hero. Like Edward Snowden, Chelsea Manning, and other whistleblowers facing government persecution, Assange has sacrificed his personal comfort and safety to bring us the truth.

EU President: "Borders Are The Worst Invention Ever Made By Politicians"

If The British needed any more confirmation of their decision to leave The EU, Jean-Claude Juncker, president of the European Commission, just gave them a big one. The often incoherent "when it's important, you have to lie" politician spewed more United States Of Europe tripe this morning when he called for European nations to drop border controls, claiming that borders were "the worst invention ever." Britain's new PM, Theresa May, was not amused...

The Permian Pitfall: A Race To The Bottom For Tight Oil

Remember the shale gale and Saudi America? The scale of those outlandish delusions has now dwindled to plays in a few counties in West Texas and southeastern New Mexico. Saudi Permian. It’s a race to the bottom as investors double down on the tight oil companies that can still tell a growth story.

The First Victims Of The Libor Surge Have Emerged... In Japan

So far US banks have escaped the recent Libor surge, but the higher funding costs and shrunken market are hitting Japanese banks particularly hard, as they have been sourcing as much as a third of their U.S. dollar liquidity in the short-term U.S. market. Japanese banks have about $125 billion to $150 billion of CP and CDs maturing before the end of September.

Hillary Responds To Health Allegations; Opens A Jar Of Pickles: "I Feel Like This Is An Alternate Universe"

While Hillary Clinton continued her press conference radio silence, having avoided media Q&A for over 260 days, last night the Democratic candidate did appear on ACB's Jimmy Kimmel live show where she responded to recent reports that her health is deteriorating, saying she feels like she is in an “alternative universe” and laughed off any questions about her health and stamina, arguing that the current speculation "makes no sense."

FBI Probing If "Russian Hackers" Breached The New York Times, News Agencies

It's them Ruskies again! With pressure on Obama over his visit to Louisiana, and Hillary facing an avalanche of headlines over her "email crimes," it is time for a distraction... CNN reports, hackers thought to be working for Russian intelligence have carried out a series of cyber breaches targeting reporters at the New York Times and other US news organizations, according to US officials briefed on the matter.

8 Of 12 Regional Feds Voted To Hike Discount Rate In July, One Shy Of The 9 Last November

This means that as of a month ago, two thirds of all regional Feds were urging Yellen to hike the discount rate; they were the following: Boston, Cleveland, Dallas, Kansas City, Philadelphia, Richmond, San Francisco and St. Louis. Those who voted to keep discount rate at 1% cited argument that outlook and below-target inflation supported keeping current accommodation in place; banks were Atlanta, Chicago, Minneapolis, and especially the New York. Clearly they dominated the discussion.

Venezuela's Latest Response To Food Shortages: Ban Lines Outside Bakeries

The tragedy of Venezuela continues unabated, but that doesn't mean the government of President Nicolás Maduro has stopped trying to fix problems. Maduro has reportedly instituted a policy of fining bakeries that allow lines to stretch out their front doors, according to PanAmPost, claiming the lines aren't a true indicator of a severe shortage of bread, but rather, a political "strategy of generating anxiety."

Why Today's 2 Year Auction Is Important

"the most important tell on sentiment will be the U.S. Treasury auctions. Especially as they involve the two-year and belly. Yesterday morphed from “uh, oh they’re hawkish” to “I knew I should’ve bought the damn dip.” Buy every dip when facing the possibility of a third big NFP in a row? Sure, if you believe in the status quo"