Turkey

Frontrunning: August 29

  • Central Bankers Spurn Call for Radical Approach at Jackson Hole (BBG)
  • Turkey deepens Syria offensive, at odds with U.S. (Reuters)
  • Another red line: U.S. says clashes between Turkish forces and opposition in Syria 'unacceptable' (Reuters)
  • Iceland Raises Alarm After Largest Volcano Starts to Rumble (BBG)
  • On Syria, Democrats look to deflect the conversation (AP)

Don't Think Armageddon, Think "A Thousand Balls Of Flame... And Then Crickets!"

A whiff of World War III hangs in the air. In the US, Cold War 2.0 is on, and the anti-Russian rhetoric emanating from the Clinton campaign, echoed by the mass media, hearkens back to McCarthyism and the red scare. In response, many people are starting to think that Armageddon might be nigh - an all-out nuclear exchange, followed by nuclear winter and human extinction. It seems that many people in the US like to think that way. But most of the recent American warmongering toward Russia can be explained by the desire to find anyone but oneself to blame for one’s unfolding demise.

New Evidence Reveals Iran Evaded Sanctions, Continued Nuclear Weapon Development With Venezuela

New evidence suggests Iran received help from Venezuela with its nuclear program despite a decade of U.N.-mandated sanctions aimed at curbing the rouge regime’s controversial nuclear and ballistic missile programs. A 2009 document obtained by Brazil’s leading weekly, Veja magazine, shows late dictator President Hugo Chavez signing off on the release of funds to help Iran with its nuclear ambitions.

Joe Biden Humiliated In Turkish "Appeasement" As Erdogan Bombs US Allies In Syria

The Obama administration has once again revealed the true extent of its hypocricy, as it turns a blind eye toward the trampling of human rights in Turkey, while screaming bloody murder when something similar takes place in any other part of the world. Meanwhile, Turkey's humiliation of its "partner", the US, will continue, and much to the amusement of Vladimir Putin, there is absolutely nothing Obama will do about it. 

A Kingdom In Turmoil: Saudi Societal Discontent Grows

"Given the current state of affairs in the Middle East, continued Saudi support for extremism and terrorism and increasing Islamic terror attacks on Europe and the US, US/Saudi relations will continue to deteriorate or remain in flux, regardless who wins the US Presidency in November 2016... we are likely to see more societal discontent and harsher responses by the Saudi oligarchy. Some signs are already evident..."

Frontrunning: August 26

  • Global equities set 2-week low before Yellen speech, dollar dips (BBG)
  • Lochte signs new endorsement deal, legal woes persist in Brazil (Reuters)
  • Blackstone Unleashes Cash Hoard in Texas Shale Oil Land Grab (BBG)
  • China to prosecute former statistics bureau chief for corruption (Reuters)
  • Turkey fires on U.S.-backed Kurdish militia in Syria offensive (Reuters)

Did Turkish President Erdogan Just Use A False Flag To Justify Invading Syria?

What we do know is that the targets of the attack were supporters of a political party that threaten Erdogan’s dreams of totalitarianism. We also know ISIS has not claimed responsibility for the attack, nor has Erdogan provided any evidence they were responsible, except to reiterate their alleged responsibility over and over. Don’t be surprised, therefore, if this attack is used as a further excuse to expand military operations against ISIS or some other group that Erdogan considers terrorists - or as a further move to target the Kurdish movement in Turkey and Syria. Oh wait, that literally just happened.

Global Stocks Decline Along With The Dollar, As Jackson Hole Begins

Global stocks declined broadly, led by European equities which fell for the first time this week while currency markets continued their subdued tone even as the recent 4-day rally in the USD appears to have topped out, as investors took to sidelines ahead of the Jackson Hole meeting which begins tonight. Japanese and Chinese stocks had suffered modest drops in Asia.  S&P 500 Index futures slipped 0.2%, continuing yesterday's modest selloff.

Turkish Tanks Enter Syria As Part Of "Anti-ISIS" Operation

Turkish tanks crossed the border into northern Syria Wednesday as part of "operations to clear ISIS terrorists "from the city of Jarabulus and to protect Turkey from the Islamic State and Kurds, Anadolu News Agency reported.

S&P Set For New Record Highs As Futures, Dollar Rise; Oil Slides

In a rerun of yesterday's overnight session, European indexes trade higher while US index futures were modestly in the green, set to propel the S&P 500 to new all time highs. Emerging Market dropped the most in three weeks alongside commodities, as today the market was predisposed hawkishly on a US rate hike ahead of Yellen's Friday speech, pushing the US dollar higher and oil resumed its pre "anonymous sources" headlines slide.