Turkey

US Launches Air Strikes Against ISIS Targets In LIbya

In what comes as the most expected geopolitical development in recent years, moments ago the United States announced that it had launched multiple airstrikes against Islamic State militants in Libya on Monday, opening a new, more persistent front against the group at the request of the United Nations-backed government, Libyan and U.S. officials said.

Frontrunning: August 1

  • Global stocks hit highest in a year but banks take shine off Europe (Reuters)
  • Fed’s Dudley Warns It Is Premature to Rule Out an Interest-Rate Increase This Year (WSJ)
  • Fed’s Kaplan Says September ‘On the Table’ If Data Support (BBG)
  • Europe's stress tests fail to ease investors' bank sector worries (Reuters)
  • Trump’s Attacks on Khan Family Roil Race But May Not Alter It (BBG)

Euro Stocks Reverse Early Gains Dragged Lower By Slumping Banks; US Futures Flat; Crude Slides

Following last Friday's shocking weak US GDP print, Asian stocks jumped to an 11 month high on reduced prospects of a near-term rate hike, while the region also digested mostly encouraging in conflicting Chinese PMI data. European bank stocks initially rose following the release of the 2016 stress test then declined, tempering gains in global equity indexes, amid investor skepticism over the usefulness of stress-test results and weaker oil prices.

Goldman Turns Outright Bearish: Says To "Sell" Stocks Over Next 3 Months

For those who believe that Goldman is just another incarnation of Dennis Gartman and are still bearish, you may want to close out any remaining short positions because moments ago, Goldman just released a new report in which the firm has gone outright bearish, with a "tactical downgrade to equities for the next 3 months."

Philadelphia Vs. Cleveland: Divided We Stand

The clash of visions between Cleveland and Philadelphia was stark. While the saying goes, the ins 'point with pride', while the outs 'view with alarm'; we appear to be two separate and hostile peoples, living apart in two separate Americas.

Turkey Surrounds, Blocks Access To NATO's Incirlik Airbase Amid Speculation Of Second Coup

All roads in and out of NATO's critical Incirlik Air Base located in Adana have been closed as Turkish Minister of European Affairs cautions that it is just a "safety inspection" while local newspapers speculate that a second coup attempt may be underway. According to Hurriyet, 7000 armed forces with heavy vehicles have surrounded and blocked off the airbase.

The Real Motive Behind Al-Nusra "Split" From Al Qaeda

The purpose behind this rebranding of al-Nusra Front seems to be to legitimize itself and make it easier for its patrons to send money and arms. The US blacklisted al-Nusra Front in December 2012 and pressurized Saudi Arabia and Turkey to ban it too. Though, al-Nusra Front’s name has been in the list of proscribed organizations of Saudi Arabia and Turkey since 2014, but it kept receiving money and arms from Saudi Arabia.

The Power Of "Nyet" - How One Word Staggered Imperial Washington

The way things are supposed to work on this planet is like this: in the United States, the power structures (public and private) decide what they want the rest of the world to do.  If cooperation is not immediately forthcoming, they apply political, financial and economic pressure. If that still doesn’t produce the intended effect, they attempt regime change through a color revolution or a military coup, or organize and finance an insurgency leading to terrorist attacks and civil war in the recalcitrant nation. If that still doesn’t work, they bomb the country back to the stone age. This is the way it worked in the 1990s and the 2000s, but as of late a new dynamic has emerged.

Erdogan Closes 130 Media Organizations, Arrests CEO Of Oil Company

As Europe's "democratic institutions" continue to stick their collective heads in the sand, pretending to ignore Erdogan's unprecedented crackdown against every political opponent as well as tens of thousands of people who have nothing to do with politics, Turkey’s post-putsch purge of dissent reached deeper into the economy as authorities shuttered 130 media outlets, detained the head of a major oil company and banned the chief strategist of a leading brokerage.

Beware The "Crisis Actors" - Goring, Erdogan, Krugman, Cramer, Draghi, Yellen

Crisis acting isn’t found in the secret construction of a crime scene. It’s found in the public construction of a social Narrative. It’s found in the public statements of the Missionaries (to use the game theory term) who create Common Knowledge — what everyone knows that everyone knows...Janet Yellen and Mario Draghi and their central bank Missionary kin are also crisis actors, pretending that their “emergency policies”, now more than seven years old, are anything less than a permanent political shift in the global allocation of money and credit.