Newspaper

100 Jihadis Enter Syria From Turkey Each Week, French Intelligence Finds

"According to the Direction for Military Intelligence (DRM) in Paris, each week, about 100 foreigners continue to cross Turkey into Syria to join Islamic State," French newspaper Le Figaro reported Wednesday, according to Reuters.  The estimate is likely to raise scrutiny on Turkey's effectiveness as a partner in the fight against ISIS, in particular following a failed military coup attempt last week.

Turkey Latest: Tens Of Thousands Purged; "Gulenist Media" Shut Down; Pilots Behind Russian Jet Downing Arrested

Turkish president Erdogan continues his witch hunt purge for the third day, and as of this morning the office of the Turkish prime minister removed from duty 257 staff suspected of being linked to the failed coup Reuters cites a source in the PM’s team as saying Tuesday. The number of those suspended from duty in the PM’s office has reached 10 percent of the estimated 2,600 total personnel of Prime Minister Binali Yildirim’s staff.

Celebrity Lives Matter... More

When it comes to terror attacks, we now know that #CelebrityLivesMatter. A lot. Specifically, some Nice residents expressed concern that U2 frontman Bono and other celebrities dining a half mile away from the scene of the recent terror attack received special treatment. If you think the National Front can’t win in next year’s election, think again.

Former Turkey Air Force Commander Unsure If He Was Ring-Leader In Coup, Pleads Guilty

The farcical 'coup' fallout continues. Having earlier denied his involvement in the coup in statements he made to Turkish media (insisting he worked to quell the uprising), Turkey's state-run news agency reports that former Air Force commander General Akin Ozturk has now pleaded guilty to organizing the coup attempt. "I started to act aiming to stage a coup," Ozturk admitted during interrogation... but, adding to the confusion, CNN Turk additionally reports that Ozturk stated "he was not the one to plan the coup." So to be clear, he did not plan it but acted with intent to stage it... and that is how Erdogan gets his scapegoat.

U.S. Warships Surround Disputed Chinese Waters, Prepared For War: "WWIII At Stake"

Territorial disputes are a delicate thing… and potentially deadly as well. That’s why the U.S. is backing up its positions with an ever-increasing presence of warships  in the South China Sea. China is very touchy about these territories, and unwilling to give up what they perceive as their waters, even as a UN tribunal just denied their claims and strengthened the U.S. hand. Indeed, the entire situation is combustible and very dangerous.

"A Gift From God" - Erdogan Arrests 6,000 In Historic "Systemic Purge", Incirlik Airbase Commander Detained

Moments ago, a Turkish government official said the commander of the critical Incirlik airbase, used by U.S.-led coalition jets to conduct bombing runs against the Islamic State, has been arrested.  Meanwhile, Erdogan's "counter-coup" this time with the implicit blessing of all western powers, is picking up speed as some 6,000 people have been detained in a government crackdown on alleged coup plotters and government opponents.

The Global Plague Of Terrorism

Ask Muslims about the roots of terrorism and they’re quick to point the fingers at the USA or Israel. They’re not thinking. They’re not thinking inwardly. The plague of terrorism is homemade, not foreign. The western countries however prop up the Muslim perpetrators with bribes and political protection so that they can extract economic benefits from the mayhem. Why not exploit the homegrown situation?

What Is Helicopter Money? Goldman Explains

Here is a useful primer for all those wondering just what is coming, courtesy of Goldman Sachs, which explains the nuances of monetary policy's endgame: Helicopter Money.

French Terror Suspect Named As Mohamed Lahouaiej Bouhlel, A "Well-Known" Tunisian Criminal

The driver of the truck used to kill over 80 people in last night's terrorist attack in Nice France is from Nice and is of Tunisian origin, aged 31, called Mohamed Lahouaiej Bouhlel. Police raided his apartment in the Nice Nord district this morning. He works as a delivery driver and is known for criminal acts, including violence, but any radicalisation has gone unnoticed.

Global Stock Rally Halted In Aftermath Of Latest French Terror Attack

The tremendous rally of the past 4 days that has sent global stocks soaring in recent days has finally been capped and European shares, S&P futures are all modestly lower following a deadly terror attack in Nice, France. Meanwhile Asian stocks rose as Chinese economic data beat estimates, with Q2 GDP rising by 0.1% more than the estimated 6.6% on the back of stronger housing data.

Could Italy Bring Down The Euro?

"A perfect storm of slow or zero Italian economic growth, low interest rates and politically connected, often corrupt, lending have combined to create a situation where the Italian financial system is in need of a large rescue."

What Britain's New Foreign Minister Really Thinks Of The World

In a somewhat shocking move, new UK PM Theresa May has appointed former London Mayor and always outspoken "Leave" campaign leader Boris Johnson as her Foreign Secretary. Given his history of foot-in-mouth disease, as Bloomberg reports, the chances of a diplomatic issue are high as from "sadistic nurse" Clinton to "dobby the house elf" Putin, we detail what Britain's latest foreign secretary thinks of his global peers...

"It's Prohibited By Law" - A Problem Emerges For Japan's "Helicopter Money" Plans

"Adopting helicopter money in the strict sense is impossible as it's prohibited by law," said one of the officials. "If it's about the BOJ buying huge amounts of bonds and the government deploying fiscal stimulus, we're already doing that." Japan shouldn't make its central bank directly underwrite government borrowing, "or it could suffer the kind of runaway spending and inflation that followed a similar move in the 1930s."

"Soon" And "Really, Really Crazy": Starting Up The Helicopters

The idea (now being pushed by a surprising number of people who ought to know better) that governments should take advantage of historically low interest rates to “invest” with borrowed money has an obvious fatal flaw. That is, accumulating even more negative or zero-rate debt will make it functionally impossible to raise rates to “normal” levels, which is to say levels where markets can once again function as mechanisms for moving savings into productive investments. It’s not a stretch to call this the end of capitalism and the beginning of a new Dark Age.