Reuters

After Turkey Warns West May "Lose" The Country, NATO "Reminds" Ankara It Is Still An Alliance Member

Less than a day after Turkey's surprising pivot toward Russia, when in his first post-coup trip abroad Turkey president Erdogan flew not to a western, or NATO, ally but instead jaunted to meet with Vladimit Putin to repair and cement future ties, a suddenly very defensive NATO and in what some commentators dubbed an "odd move", reminded Turkey that it is still an ally member.

BOJ Leaks September Statement To Ease Investor Concerns That It May Be Tapering QE

To quell any speculation that it may be easing off in its "inflation boosting" monetization efforts, moments ago the BOJ "leaked" what its September statement would be, and as Reuters reported the BOJ has "already prepared a preliminary outline of a "comprehensive" assessment of its policies due next month that will maintain a pledge to hit its 2 percent inflation target at the earliest date possible, sources familiar with its thinking said." The general tone would suggest that a tapering of the BOJ's massive stimulus program is unlikely.

Frontrunning: August 10

  • World stocks hit one-year peak, dollar sags on weak U.S. data (Reuters)
  • Trump's remarks on gun rights, Clinton unleash torrent of criticism (Reuters)
  • Newly Released Emails Highlight Clinton Foundation’s Ties to State Department (WSJ)
  • One-in-five U.S. Republicans want Trump to drop out: Reuters/Ipsos poll (Reuters)
  • Soaring Debt Has U.S. Companies as Vulnerable to Default as 2008 (BBG)
  • BOJ to defend QQE in Sept policy assessment (Reuters)

The Charade Continues: London Gold And Silver Markets Set For Even More Paper Trading

Today the London Metal Exchange (LME) and the World Gold Council (WGC) jointly announced the launch next year of standardised gold and silver spot and futures contracts which will trade on the LME’s electronic platform LMESelect, will clear on the LME central clearing platform LME Clear, and that will be settled ‘loco London’. Together these new products will be known as LMEprecious.’

"It's One Gigantic Lawless Crime Scene" - Exposing The Dirty Business of U.S. 'Think Tanks'

It’s important to acknowledge that the U.S. economy has morphed into one gigantic lawless crime scene. An environment in which crony insiders who add zero value to society parasitically feast on the country’s treasure. In the case of so-called “think tanks,” we have organizations receiving copious taxpayer subsidies for the privilege of screwing over the American public.

Here's How A US-China War Could Play Out

For all the focus on terrorism, one of the most striking features of the last decade is that the risk of war between the world’s major countries has returned. For the first time since the fall of the Berlin wall, military thinkers in the United States, Europe and Asia are putting serious thought into what such a conflict might look like. For a world with no shortage of nuclear weapons, that’s alarming.

Frontrunning: August 9

  • Search for yield drives stocks higher, pound falls vs dollar (Reuters)
  • China's slowing wholesale deflation takes pressure off central bank (Reuters)
  • Rajan Holds India Rates in Final Move as Inflation Quickens (BBG)
  • Brent above $45 on U.S. inventories, producer action speculation (Reuters)
  • Republican national security experts: Trump would be 'dangerous' president (Reuters)

Japan Orders Military To 'State Of Alert' As North Korea Accuses US Of Seeking 'Preemptive Nuclear Strike'

Just days after North Korea has accused Washington of planning a preemptive nuclear strike - following the US announcement that it would deploy its B-1 bomber in the Pacific for the first time in a decade - Japan's increasingly militarist tone just ratcheted up to '11' as defense ministry officials have ordered its military to be ready at any time to shoot down any North Korean missiles that threaten to strike Japan, putting its forces on a state of alert for at least three months.

Video Captures Moment Of Horrific Suicide Bombing In Pakistan Hospital Which Kills At Least 70

A suicide bomber in Pakistan killed at least 70 people and wounded more than a hundred on Monday in an attack on mourners gathered at a hospital in the town of Quetta which has long been regarded as a base for the Afghan Taliban, whose leadership has regularly held meetings there in the past.  In May, Afghan Taliban leader Mullah Akhtar Mansour was killed by a U.S. drone strike while traveling to Quetta from the Pakistan-Iran border.