The Lira - officially the world's most volatile currency - has lost 11% of its value since the start of 2017 (down 8 of the last 9 days against the USD). In fact, the lira headed for its biggest five-day loss since Lehman (Oct 2008) after a pledge by Turkey’s central bank to support the currency failed to convince investors.
Hungary will use "all the tools at its disposal" to “sweep out” NGOs funded by George Soros, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday.
A year ago it was the Ruble, but for much of the last year it is the South African Rand that has been the most volatile currency in the world. That is until the last week, as Turkey deals with rising domestic instability (and Erdogan's push for total rule), the Lira has become the world's most unstable currency...
If, however, in the absence of a violation of the treaty by Iran, we tore up the deal, we could find ourselves isolated. For Britain, France and Germany also signed, and they believe the agreement is a good one. Do we really want to force these NATO allies to choose between the deal they agreed to and a break with the United States?
More than 100,000 British Muslims sympathize with suicide bombers and people who commit other terrorist acts, according to a 615-page survey. Only one in three British Muslims (34%) would contact the police if they believed that somebody close to them had become involved with radical Islam. Teaching children fundamental British values is an act of "cultural supremacism," according to the National Union of Teachers.
European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards.
The collapse in the Turkish Lira, which has been relentless since last summer's failed coup, has only accelerated in 2017, and especially this morning, when the Turkish currency tumbled more than 2% against the dollar - its single worst day since the July 19 military coup attempt - sliding as low as 3.73, down over 5% so far in 2017, and over 23% in the past 12 months.
Since 9/11, US corporate media have portrayed Al Qaeda as a monstrous organization whose existence justifies a global war without end. Who could have predicted that by 2016, these same media outlets would become Al Qaeda’s most enthusiastic cheerleaders?
For most people, the term “4GW” will conjure visions of a new and improved data service for their mobile devices. For members of the military and intelligence community, 4GW means something entirely different: Fourth-Generation Warfare, a form of warfare where the lines between civilians and combatants, political and military goals, and even the weapons to be used in fighting the war are blurred. Smudged to the point where even identifying the warring parties is difficult.
Donald Trump’s victory represented a rejection of Barack Obama’s America. And whether he succeeds, what is there to cause America to look back with nostalgia on the America Obama came to represent? Our Founding Fathers believed that democracy represented the degeneration of a republic; they feared and loathed it, and felt that it was the precursor of dictatorship. They may have been right again.
"Our people ask, 'Why are they [the U.S. and coalition warplanes] using the ?ncirlik air base' " if they won't back up Turkish forces against ISIS and the Kurdish militias considered terrorists by Turkey? "What purpose are you serving if you do not provide aerial support against [ISIS] in the most sensitive operation for us?"
Beware the commodity "black swans" in 2017, at least according to Barclays. The British bank warns that raw materials markets from oil to metals face the a high likelihood of disruptions, which among, other include a default by Venezuela, riots in Chile, a trade war with China, more terrorism in Turkey, and even a Fukushima-type disaster in China.
"In 2017 we enter a period of geopolitical recession," warns Eurasia Group president Ian Bremmer, adding that international war or "the breakdown of major central government institutions" isn't inevitable, though "such an outcome is now thinkable." In the company's 19th annual outlook, Eurasia fears that U.S. unilateralism under Donald Trump, China’s growing assertiveness and a weakened German Chancellor Angela Merkel will make 2017 the "most volatile" year for political risk since World War II.