• Monetary Metals
    07/28/2014 - 02:38
    Notice the “icicles” dripping all over the place? They occur at different times of the day. What are they? Each one is a brief but dramatic price drop.

Turkey

Tyler Durden's picture

US Evacuates Libya Embassy Following Biggest Local Violence Since Gadhafi Ouster





The middle east is burning again: first it was the fascinating ascent of the brutal Al-Qaeda spinoff ISIS, creating its own Caliphate in northern Iraq and in the process taking over a third of Syrian territory as well as all of its oil infrastructure. Then, the latest iteration of the Israel vs Gaza conflict has now claimed over 1000 lives and is dragging virtually all neighboring countries into it as well. And the cherry on top is that the Libyan "liberation" by the US has just gone full circle, as the country is is now witnessing one of its worst spasms of violence since Gadhafi’s ouster. End result: nearly two years after the deadly attack on the US embassy in Benghazi, moments ago the US once again shuttered its embassy in Libya, this time in Tripoli, evacuating more than 150 Americans to Tunisia.  This is happening just 24 hours after the US Secretary of State was literally next door in Egypt, assuring the region that peace and stability are just around the corner.

 
Tyler Durden's picture

First Syrian Rebels, Now Hamas: Qatar Once Again Emerges As "Mystery" US-Backed Sponsor Of War





It was a little over a year ago when the "Mystery Sponsor Of Weapons And Money To Syrian Mercenary "Rebels" Was Revealed" as none other than the uber-wealthy Qatar (also known as the tiny but filthy rich state in the Persian Gulf that hosts the US Fifth fleet, better known as infinite leverage vis-a-vis the United States), which effectively had been pulling the US interventionist strings in hopes of taking out the Assad government and installing a puppet regime, one which would be helpful in facilitating the passage of a natgas pipeline beneath the country, which would then proceed into Turkey and all the way into Europe, as a means of bypassing Europe's reliance on Russia (which as recent events have shown has all the leverage when it comes to Europe).  It failed. As a result it had to redirect its puppetmastery skills elsewhere. That "elsewhere" appears to be none other than Hamas,

 
GoldCore's picture

Pawns In A Deadly, Grotesque Geopolitical Game





Ukraine, Gaza, Iran, Isis, Syria and Turkey are all just pawns in a grotesque geopolitical game. All sides have their narratives. But in all cases, innocents must die ...

 
Tyler Durden's picture

Turkish PM Cuts Ties With US, Mulls De-Dollarization With Russia





As Turkey's graft probe continues (which the Prime Minister believes is a conspiracy - fact or not - created by The West), AP reports that Recep Tayyip Erdogan has said he no longer holds "direct" telephone conversations with U.S. President Barack Obama, suggesting a rift between the leaders who were once close. What is perhaps even more concerning is Turkey's recent de-dollarization discussions with Russia to move to settlement in local currencies. It appears 'allies' are falling by the way-side quicker than many thought...

 
Tyler Durden's picture

Russia Touts South Stream Pipeline As Europe’s Gas Lifeline





Russia is mounting a major publicity campaign in Europe for its proposed South Stream gas pipeline in an apparent effort to reassure its EU customers that they can rely on Russian gas for the indefinite future.

 
Tyler Durden's picture

Guest Post: BRICS Against Washington Consensus





As Pepe Escobar explains, way beyond economy and finance, this is essentially about geopolitics - as in emerging powers offering an alternative to the failed Washington consensus. Or, as consensus apologists say, the BRICS may be able to "alleviate challenges" they face from the "international financial system".

 
Tyler Durden's picture

UN Demands Europe "Open Its Doors" As Syrian Refugees Reach "Saturation Point"





Syrian refugees, whose numbers are set to pass 3 million in the next few weeks, are almost all in Lebanon, Jordan and Turkey, with smaller numbers in Iraq and Egypt. But, as Reuters reports, that looks set to change: UNHCR chief spokeswoman Melissa Fleming exclaimed that Europe must open its doors to more Syrian refugees, having welcomed only a "miniscule" number while Syria's neighbors have reached "saturation point."

 
Tyler Durden's picture

"This Is The Worst Of All Possible Worlds," The Fed "Is Borrowing Returns From The Future"





Felix Zulauf, James Montier and David Iben: Three legendary investors share their views on financial markets. Everything is pricey ("we will continue to swim in a sea of liquidity; but there might be other events and developments that may not be camouflaged by liquidity which could cause a change of investor expectations.") the European periphery is a bubble ("The Euro crisis is not over...the European economies are not going to change for the better for years to come despite all the cheating and breaking of laws"), Value investors need to venture to Russia ("when you look at today’s opportunity set, you’re left with a set of assets where nothing looks attractive from a valuation point of view") or buy gold mining stocks (" The down cycle could be much bigger than anybody believes if the market realizes that all the actions taken in recent years do not work.") Summing it all up, "there is no question that [sovereigns] lack the fundamental economic base to finally service their debts," trade accordingly.

 
George Washington's picture

57 Years Ago: U.S. and Britain Approved Use of Islamic Extremists to Topple Syrian Government





Did the U.S. and Its Allies Use ISIS to Balkanize Syria Into Smaller Regions?

 
Tyler Durden's picture

Is This A Self-Sustaining Recovery Or As Good As It Gets?





Opinions about the U.S. economy boil down to two views: 1) the recovery is now self-sustaining, meaning that the Federal Reserve can taper and end its unprecedented interventions without hurting growth, or 2) the current uptick in auto sales, new jobs, housing sales, etc. is as good as it gets, and the weak recovery unravels from here. The reality is that nothing has been done to address the structural rot at the heart of the U.S. economy. You keep shoving in the same inputs, and you guarantee the same output: another crash of credit bubbles and all the malinvestments enabled by monetary heroin.

 
Tyler Durden's picture

Russia Reveals "Plan B": Gazprom Says Gas Transit Via Ukraine May Be Stopped Completely





A few days ago, when we wrote our "explainer" on the need for Russia to have an alternative pathway for its gas, one which bypasses Ukraine entirely and as the current "South Stream" framework is set up, crosses the Black Sea and enters Bulgaria before passing Serbia and Hungary on the way to the Central European energy hub located in Baumgarten, Austria, we said that "one short month after Putin concluded the Holy Grail deal with Beijing, he not only managed to formalize his conquest of Europe's energy needs with yet another pipeline, one which completely bypasses Ukraine for numerous reasons but mostly one: call it a Plan B."  Today we find just what said Plan B is. As Itar-Tass reports, citing Gazprom CEO Alexei Miller, "Russia’s gas giant Gazprom does not rule out gas transit via Ukraine may be stopped completely."

 
Tyler Durden's picture

Key Events In The Coming Holiday-Shortened, Very Busy Week





The holiday shortened, and very busy, week includes the following highlights: [on Monday] US Chicago PMI; [on Tuesday] US ISM Manufacturing, Construction Spending, and Vehicle Sales, in addition to a host of PMI Manufacturing in various countries; [on Wednesday] US ADP Employment, Factory Orders; [on Thursday] US Non-farm Payrolls and Unemployment, MP Decisions by ECB and Riksbank, in addition to various Services and Composite PMIs; [on Friday] US holiday, Germany Factory Orders and Sweden IP.

 
Tyler Durden's picture

At The Halfway Point Of 2014, Futures Are Treading Water





It is the last day of not only the month but also the quarter, not to mention the halfway point of 2014, which means that window dressing by hedge funds will be rampant, as they scramble to catch up some of the ground lost to the S&P 500 so far in 2014. Most likely this means that once again the most shorted names will ramp in everyone's face and the short side of the hedgie book will soar, further pushing hedged P&L into the red, because remember: in a market in which all the risk is borne by the Fed there is no need to hedge.

 
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