Just as the Roman Empire ended in the destruction of the Roman people, the American Empire will end in the destruction of the American people. Judging from histories, Roman citizens were superior to American citizens; yet, Rome failed. Americans shouldn’t expect any other outcome. The price to be paid for insouciance, self-satisfaction, and complicity is high.
Though the Saudi Arabian government publicly declared its tentative support for the widely-praised Iran nuclear deal last month, new reports reveal it is secretly funding propaganda efforts to undermine it. A new group called the American Security Initiative has spent over $6 million on advertisements criticizing the deal — using money supplied by the Saudi monarchy.
We warned on Friday, after last week's China rout, that the market is getting ahead of itself with its expectation of a RRR-cut by China as large as 100 bps. "The risk is that there isn't one." We were spot on, because not only was there no RRR cut, but Chinese stocks plunged, with the composite tumbling as much a 9% at one point, the most since 1996 when it dropped 9.4% in a single session. The session, as profile overnight was brutal, with about 2000 stocks trading by the -10% limit down, and other markets not doing any better: CSI 300 -8.8%, ChiNext -8.1%, Shenzhen Composite -7.7%. This was the biggest Chinese rout since 2007.
Militants, allegedly acting on the orders of an Iranian commander, fired rockets into Israel on Thursday, prompting a swift response from the Israeli military which launched a series of airstrikes across the border in Syria killing at least four.
- No End in Sight for Oil Glut (WSJ)
- Dozens of Clinton emails were classified from the start, U.S. rules suggest (Reuters)
- China August Manufacturing Activity Hits Lowest Level Since 2009 (WSJ)
- German Manufacturing Strengthens as Economy Shifts Up a Gear (BBG)
- Israel responds to rocket attack with protest and air strikes (FT)
- ASX carnage: 2015 fast becoming a year to forget (Canberra Times)
- Hong Kong Stocks Enter Bear Market After Falling From April Peak (BBG)
In the Western world insouciance rules governments as well as peoples, and most likely also everywhere else in the world. It remains to be seen whether Russia and China have any clearer grasp of the reality that confronts them.
"The US is digging itself in deeper and deeper,” warns Doug Casey, adding the telling question: “Then what’s going to happen?” President Obama’s grim warning of “deal or war” seems to provide an answer. Faced with economic implosion on an epic scale, the US may be counting on war as its other option.
Most Americans have no idea that the U.S. corporate fraudulent government can legally lie to you every single day to get you to believe whatever they want you to believe and then turn around behind closed doors and laugh at you for believing their legal lies. Try telling that to most Americans and see how they look at you. This is another example of a hard-to-handle lie that is pushed on Americans every day; and the average working American has no time to truly wrap their heads around this stunning fact so they bury their heads in the sand instead, unwilling to look at the issue because they fear they won’t know what to do with the information.
A new academic study from researchers at Stanford, UCLA, and the Arison School of Business in Israel suggests that ETFs are contributing to a lack of liquidity for the stocks they hold. Essentially, the argument is that increased ETF ownership leads to wider bid-asks, less analyst coverage, and higher correlations with broad market moves.
GOP Presidential hopefuls expressed plenty of distaste for the Iran nuclear deal during last night’s debate, but it was the voice of a Democrat that mattered most on Thursday evening as Chuck Schumer, the influential Jewish Senator from New York, came out in opposition to the accord.
Everyone - Including the Iranian Public - Knows that the Mullahs of Iran are Total A$$H@les, But ...
Surprise! In what must be the most predictable geopolitical event in recent days, WSJ reports that Iran has refused to let United Nations inspectors interview key scientists and military officers to investigate allegations Tehran maintained a covert nuclear-weapons program.
We've ALWAYS Been at War with Eastasia!
Jim Rickards, “I think it’s always very important to own gold. I’ve recommended that investors have about 10% of their portfolio in the yellow metal.” “If I’m right and some catastrophic event is on the horizon, then that 10% would be your portfolio insurance.”