national security

For a long time there was confusion about the "quo" to the Saudi Arabian "quid" over its agreement to side with the US on the Iranian "nuclear deal" (which incidentally looks like it will never happen simply due to the Russian and Chinese UN vetoes). Then over the weekend we finally got the answer: the details are quite familiar to anyone who has seen the US Military-Industrial Complex in action: the US pretends to wage an aggressive diplomatic campaign of peace while behind the scenes it is just as actively selling weapons of war.

Yes ... They're Collecting the Content of AMERICANS' Phone Calls, Too

"...this is a real problem... because today’s American is simply a shell of a citizen none of the criminal atrocities creates even a stir from us. Sure we all read about these atrocities and we are angered in the moment but it passes rather quickly and we fall back into our self-induced ignorant bliss."

Fourteen years after the PATRIOT Act was rushed into law, it is clear that sacrificing liberty does little or nothing to preserve security. Instead of trying to fool the American people with phony reforms, Congress should repeal all laws that violate the Fourth Amendment, starting with the PATRIOT Act.

F*ck the EU!

With London, Paris, and Basel’s compliance, Nazi Germany had just looted 23.1 metric tons of gold without a shot being fired.

U.S. Air Force General and NATO supreme allied commander Philip Breedlove is ratcheting up the rhetoric by suggesting to the Senate that Russia is planning to shatter what remains of the fragile ceasefire in Ukraine by launching an imminent offensive. “Many [Russian] actions are consistent with preparations for another offensive,” the general said, without fully explaining how he came to his conclusion.

Like Nazi and Soviet Psychologists, American Psychologists Aided Abuse

During the heyday of post-war prosperity between 1953 and 1971, real final sales - a better measure of economic growth than GDP because it filters out inventory fluctuations - grew at a 3.6%  annual rate. That is exactly double the 1.8% CAGR recorded for 2000-2014. The long and short of it, therefore, is that there has been a dramatic downshift in the trend rate of economic growth during an era in which central bank intervention and stimulus has been immeasurably enlarged. How exactly is the Fed helping when the trend rate of real growth has withered dramatically?

Apple is the Ty Cobb of corporate America. Like Cobb, Apple has set some impressive records. Nine years, a trillion dollars in sales, and almost no taxes paid. Apple risks having a legacy of tainted success and isolation.

• Marchers protest police violence in Baltimore, New York (Reuters)
• Majority of Financial Pros Now Say Greece Is Headed for Euro Exit (BBG)
• Greece signals concessions in crunch talks with lenders (Reuters)
• Greece, Euro-Area Partners Target Deal by Sunday (BBG)
• Iglesias Says EU Risking Right-Wing Backlash With Greek Pressure (BBG)
• Student-Loan Surge Undercuts Millennials’ Place in U.S. Economy (BBG)
• Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? (WSJ)

Seven years ago, the U.S. Army War College issued a report calling on the military to be prepared should they need to put down civil unrest within the country. Summarizing the report, investigative journalist Chris Hedges declared, “The military must be prepared, the document warned, for a ‘violent, strategic dislocation inside the United States,’ which could be provoked by ‘unforeseen economic collapse,’ ‘purposeful domestic resistance,’ ‘pervasive public health emergencies’ or ‘loss of functioning political and legal order.’ The ‘widespread civil violence,’ the document said, ‘would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.’” At what point will all of the government’s carefully drawn plans for dealing with civil unrest, “homegrown” terrorism and targeting pre-crime become a unified blueprint for locking down the nation?

If the DOJ and CFTC is going to be consistent, then they have to indict the entire financial community from the CME, Exchanges, Brokers, Institutions, Investment Banks, Hedge Funds, Management Funds and High Frequency Trading Firms.

• Nepal earthquake toll crosses 3700 (Reuters)
• Greeks Add Pressure on Tsipras to Compromise as Talks Resume (BBG)
• With No Deal on Greek Bailout Aid in Sight, Some in Europe Suggest ‘Plan B’ (WSJ)
• BOJ Shouldn’t Ease Further; Yen Fell Enough: Business Lobby Head (BBG)
• Clinton Foundation admits making mistakes on taxes (Reuters)
• Here’s the Old Nemesis Starting to Spook Bond Traders Again (BBG)
• Deutsche Bank to Trim Investment Banking (WSJ)
• China’s Stocks Rise to Seven-Year High on SOE Merger Speculation (BBG)