• Monetary Metals
    02/09/2016 - 02:05
    On Jan 28, the price of silver flash crashed. This irregularity occurred around the silver fix. The spot price was $14.40 but the fix was $13.58.

Turkey

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Dogfights Next? US Sends F-15 Jets To "Counter" Russian Air Force Over Syria





Ahead of US spec ops deployment in Syria, the US is sending F-15C Eagle twin-engine fighters to Turkey, suggesting The Pentagon is preparing for aerial combat with the Russian air force. 

 
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US Ally Turkey Throws Journalists In Jail For "Attempting To Overthrow The Government"





Following farcical elections which saw President Tayyip Erdogan get the outcome he needed in order to press forward with a move to rewrite the constitution on the way to consolidating his power, Ankara's crackdown on the press continues as the government is now jailing opposition reporters and accusing them of attempting to orchestrate a "coup."

 
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Greek Island Runs Out Of Burial Ground Amid Flood Of Dead Refugees





"Yesterday we held five funerals, but there are still 55 bodies at the morgue," exclaims Lesbos' mayor Spyros Galinos, adding "Who could have anticipated such a carnage in the Aegean?"

 
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"Somebody Will Do Something Stupid"





There are a multitude of fuses affixed to dozens of powderkegs and little kids with matches are on the loose.

 
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Europe Will Never Be The Same; Neither Will The World





People are genetically biased against change, because change means potential danger. People are also genetically biased against acknowledging this bias, because they wish to see themselves as being able to cope with both change and danger. Put together, this means that when changes come, people are largely unprepared or underprepared. This little bit of psychology 101 may seem redundant, but it is indispensable if we wish it to recognize the implications of Europe -and the entire world with it, in its slipstream- having already entered a period of change so profound it is impossible to predict what the impact will be. This ignorance and denial threatens to lead to a needless increase in nationalism, fascism, violence, misery, death and warfare. If we were to acknowledge that the change is inevitable, and prepare ourselves accordingly, much of this could be avoided.

 
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"It's None Of Saudi Arabia's Business": Iran Lashes Out At US, Allies After Syria Talks





"There's no point in other countries getting together and deciding about a system of government and the head of that state. This is a dangerous innovation which no government in the world would accept being imposed on itself. The solution to Syria's problem is elections."

 
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The Best And Worst Performing Assets In October And YTD





The torrid October, with its historic S&P500 point rally, is finally in the history books, and at least for a select group of hedge funds such as Glenview, Pershing Square and Greenlight and certainly their L.P.s, a very scary Halloween couldn't come fast enough, leading to losses between 15% and 20%. How did everyone else fare? Below, courtesy of Deutsche Bank's Jim Reid, is a summary of what worked in October (and YTD), and what didn't.

 
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Frontrunning: November 2





  • Baffle with BS: German Bonds Decline Along With Peers as Draghi Cools QE Talk (BBG)
  • And yet... ECB's Nowotny says low inflation forces ECB to act (Reuters)
  • Stocks fall on China data, but stronger euro zone lifts gloom (Reuters)
  • Global factories struggle as stimulus fails to spur (Reuters)
  • Russian airline rules out technical fault, pilot error in Egypt crash (Reuters)
  • Turkey returns to single-party rule in boost for Erdogan (Reuters)
 
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Futures Rebound From Overnight Lows On Stronger European Manufacturing Surveys, Dovish ECB





On a day full of Manufacturing/PMI surveys from around the globe, the numbers everyone was looking at came out of China, where first the official, NBS PMI data disappointed after missing Mfg PMI expectations (3rd month in a row of contraction), with the Non-mfg PMI sliding to the lowest since 2008, however this was promptly "corrected" after the other Caixin manufacturing PMI soared to 48.3 in October from 47.2 in September - the biggest monthly rise of 2015 - and far better than the median estimate of 47.6, once again leading to the usual questions about China's Schrodinger economy, first defined here, which is continues to expand and contract at the same time.

 
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Turkey's Ruling Party Gets "Surprising" Boost In Election As Erdogan Poised For Victory





Either i) state-sponsored terrorism is effective at scaring the electorate, ii) the vote was fixed, or iii) both...

 
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ISIS Releases Video Of Alleged Russian Airplane Mid-Air Exposion After It Claims Responsibility For Disaster





ISLAMIC STATE CLAIMS RESPONSIBILITY FOR RUSSIAN PLANE CRASH IN EGYPT

In other words, a proxy organization of US "shadow government destabilizing operations", trained in U.S. ally Turkey, and openly funded by both U.S. allies Saudi Arabia and Qatar, just took down a Russian plane.

 
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Another Black Swan? Turkey Holds Snap Elections Amid NATO-Backed Civil War





There’s a potential black swan event taking place in Turkey on Sunday and no one seems to care. That is, the media isn’t devoting nearly enough coverage to Turkish elections considering the impact the outcome will invariably have on the situation in Syria, on the fate of the lira, and on the Pentagon’s strategy with regard to embedding spec ops with the YPG.

 
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US Sends Troops To Syria: Here Are The Questions The Media Should Be Asking





It's "boots on the ground" time in the Mid-East and predictably, the mainstream media are asking all the wrong questions. Here's what you need to know about America's plan to embed US commandos with Kurdish forces in Syria.

 
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Obama Set To Announce US Boots On The Ground In Syria, Russia Threatens Deployment "Unacceptable"





According to multiple reports, the Obama administration is set to send dozens of "military advisers" to Syria. They will serve in an "advise and assist" role in the effort to rout ISIS. Cutting through the obfuscation: Washington needs to figure out how to salvage its strategy in Syria - and fast. Make no mistake, this will be a disaster...

 
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