As we noted previously, just days after the fatal shooting of Mike Brown in Ferguson, a 2nd officer-involved shooting ended in death for the suspect just miles from Ferguson. St.Louis Police Department - in the interests of transparency - have released video of both the alleged shoplifting and the so-called 'suicide-by-cop' shooting itself of 25-year-old Kajieme Powell.."Powell approached the officers when they arrived, yelling at them to shoot him already. When he ignored commands to drop the knife, the two officers fired a total of 12 shots."
Ukraine’s next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production.
The farcical process and complete lack of transparency would have to make any fair minded person concerned about the new LBMA Gold Price. The Gold Anti Trust Action Committee (GATA) will allege that the LBMA and the western bullion banks are engaged in a rebranding and repackaging exercise in order to maintain a cosy gold and silver cartel of bullion banks and ultimately control over precious metal prices.
The irony of maintaining a veneer of authenticity over a fundamentally inauthentic market is rich: the more the authorities manipulate the market to maintain high valuations and suppress turbulence, the greater the odds of a collapse of trust as inauthentic markets cannot self-correct or discover the price of assets, capital and risk. Once risk has been effectively hidden by perception management, participants lack the essential information they need to make informed decisions. And so their decisions will be catastrophically mis-informed. This is how declines morph into crashes.
If You Believe The Oil Bull Market Is Over, This Is How To Monetize Your Perspective With Up To 4x LeverageSubmitted by Reggie Middleton on 08/14/2014 13:08 -0400
Ways for retail investors, and institutions small and large, to monetize a fundamental or economic outlook that the muppet masters will never tell you!
Interestingly, the FT also reports that there may be significant buying of silver in the coming days: “Indeed, there are already rumours in the market place that some big silver producers and consumers are preparing to pepper the market with orders.” This creates the possibility of the short squeeze that many market participants and silver analysts have been expecting for some time.
Last week's first ever U.S.-Africa summit was a perfect mix of dinner-party diplomacy with some of the world’s most violent and homophobic dictators. As the Daily Mail points out, President Obama had no problem smiling and hobnobbing with a cornucopia of murders and human rights abusers. Just remember this the next time a politician tries to get you enraged about a human rights abuse somewhere. There is always an ulterior motive, because without question, the U.S. only cares about human rights when it is geopolitically or economically advantageous to do so.
Have you ever heard of the Office of Information and Regulatory Affairs, otherwise known as OIRA? OIRA was created in 1980, and shortly thereafter the Reagan administration greatly expanded its powers by signing an executive order that gave the office the authority to review all federal rules. Ever since then, it has been used to rewrite or entirely block regulations from almost every regulatory body imaginable. Simply put, this powerful organization operating in the shadows of America’s faux democracy is used by lobbyists and large corporate interests to further entrench the established oligarchic power structure.
Greek 10Y yields, up 6 days in a row, have surged in the last few days to 2-month highs (bond price lows). The significant shift in sentiment appears related to two main factors. First, The Independent reports that Europe is considering pulling Troika (its economic oversight committee) - which has been likened to German Nazi occupation - out of Greece, forcing local politicians to come up with their own reforms by the start of 2015 (which clearly the market is not believing). Perhaps even more concerning is Goldman Sachs shift to neutral on European peripheral bonds, warning that "at current spread levels we think there is not enough of a buffer for investors to take credit risk in intermediate and long-dated peripheral sovereign bonds." Time for some more 'whatever it takes' we think.
The Commodities Futures Trading Commission (CFTC) has been long viewed as one of the most corrupt of American institutions – and that’s saying a lot... when a retiring judge accuses the other remaining judge of being a total bought and paid for Wall Street crony, you know something is wrong. And sure enough, today we learn the CFTC will impose a meager $650,000 fine on JP Morgan, despite years of warnings about fraudulent data reports. You gotta love American justice. In the same week that an NYPD officer’s illegal and fatal chokehold was ruled a homicide (incredibly the man who shot the video has now been arrested), JP Morgan gets off with another slap on the wrist. As Glenn Greenwald noted, it’s Liberty and Justice for Some.
Self-interest is intrinsically self-liquidating on a systemic level. This is how systems collapse: those who have offloaded risk (a.k.a. skin in the game) to the system itself and guaranteed their job, income, pension or rentier skim via the State will continue to support the Status Quo that has benefited them so handsomely even as the ship tumbles over the waterfall to its destruction.
The gold price manipulation scheme will go down as the biggest financial market scandal in US history for numerous reasons. They include the destruction of the free market system in the United States.
If you're a woman looking for some fun... we strongly urge you to avoid Turkey. Turkey's Deputy Prime Minister Bulent Arinc has some strong opinions on the female of the species. First, on Monday, he exclaimed women needed to be "morally upright" and "not laugh out loud in public." And now, the senior Turkish minister, that some women "don’t have self control and can’t stop themselves from climbing up a pole." Of course his actions sparked an avalanche of social media posts of women laughing-out-loud and on-the-pole... which is ironic given that Twitter reports that Turkey accounts for 43% of all global requests for content removal.
- Moscow fights back after sanctions; battle rages near Ukraine crash site (Reuters)
- On Hold: Merkel Gives Putin a Blunt Message (WSJ)
- Argentina’s Default Clock Runs Out as Debt Talks Collapse (BBG)
- Argentina braces for market reaction to second default in 12 years (Reuters)
- Banco Espirito Santo Plunges After Posting 3.6 Billion-Euro Loss (BBG)
- Adidas Plunges After Cutting Forecast on Russia, Golf (BBG)
- GOP Says Lerner Emails Show Bias Against Conservatives (WSJ)
- Londoners Cashing in Flee to Suburbs as Home Rally Wanes (BBG)
- BNP Paribas Reports Record $5.79 Billion Quarterly Loss (WSJ)
- Swiss Banks Send U.S. Client Data Before Cascade of Settlements (BBG)
- Putin Sows Doubt Among Stock Bears Burned by 29% Rebound (BBG)
Recall what we said earlier today: the proxy war Ukraine conflict, just like that in Syria preceding it, "is all about energy." Recall also the following chart showing Ukraine's shale gas deposits, keeping in mind that the Dnieper-Donets basin accounts for approximately 90 per cent of Ukrainian production. Finally, recall our story from May that Joe Biden's son, Hunter, just joined the board of the largest Ukraine gas producer Burisma Holdings. Now put it all together and you will like figure out what will happen next.