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Mapping The Global War On Terror

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US, Turkey To Form Anti-ISIS "Coalition" With Saudi Arabia, Qatar

The US and Turkey are set to launch a "comprehensive fight against ISIS" with Turkey's Incirlik airbase as the hub, Ankara says. Other countries "interested in joining" the coalition include Jordan, Qatar, and Saudi Arabia. For its part, Syria has a subtle reminder for everyone involved: "we support any effort to combat Daesh in coordination and consultation with the Syrian government, otherwise it will be a breach of Syrian sovereignty." 

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Frontrunning: August 5

  • Turkey says coalition to launch 'comprehensive battle' against Islamic State (Reuters)
  • Buffett’s Celebration Tempered by 50th Anniversary Stock Slump (BBG)
  • SEC Set to Approve CEO Pay-Gap Disclosure Rule (WSJ)
  • Greece wants full bailout, not bridge loan, ruling party says  (Reuters)
  • Stocks Rise Fueled by Strong European Corporate Earnings and Chinese Data (WSJ)
  • JPMorgan Reclaims Place Among U.S.'s Top 10 Biggest Stocks (BBG)
  • Eurozone retail sales fall sharply in June (MW)
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Why Turkey's "ISIS-Free Zone" Is The Most Ridiculous US Foreign Policy Outcome In History

The truly incredible thing about US foreign policy outcomes is that there are seemingly no limits on how absurd they can be. Indeed, Washington’s uncanny ability to paint itself into policy corners and create the most thoroughly flummoxing geopolitical quagmires in the history of statecraft knows absolutely no bounds. 

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Frontrunning: August 4

  • Unhappy Voters Shake Up Presidential Race (WSJ)
  • China stock exchanges step up crackdown on short-selling (Reuters)
  • China Dethroned as World’s Most Liquid Stock Market After Curbs (BBG)
  • Xiaomi retakes the smartphone lead in China as Apple slips (Engadget)
  • Impact of EPA’s Emissions Rule on Industry to Vary (WSJ)
  • Citadel’s Ken Griffin Leaves 2008 Tumble Far Behind (WSJ)
  • Greece says expects bailout deal by Aug 18 (Reuters)
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Amid Escalating Violence In Turkey, Erdogan Says Putin Ready To "Give Up On Assad"

As opposition lawmakers accuse Tayyip Erdogan of blocking efforts to form a coalition government, Ankara says the PKK orchestrated a suicide attack that killed three Turkish soldiers. Meanwhile, Erdogan says Vladimir Putin is ready to "give up on" Bashar al-Assad in Syria.

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Obama Authorizes "Defensive" Airstrikes Against Assad Regime In Syria

"President Barack Obama has authorized using air power to defend a new U.S.-backed fighting force in Syria if it is attacked by Syrian government forces or other groups, raising the risk of the American military coming into direct conflict with the regime of President Bashar al-Assad," WSJ reports.

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Al-Qaeda Attacks CIA-Trained Syrian "Freedom Fighters"; Commander Captured

"We warn soldiers of (Division 30) against proceeding in the American project. We, and the Sunni people in Syria, will not allow their sacrifices to be offered on a golden platter to the American side."

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NATO Member Busted Supporting ISIS … Now Declares War Against ISIS, But Instead Bombs Its Political Rival (the Main Force ...

... FIGHTING ISIS (Wall Street Journal and Time Magazine Confirm What Zero Hedge Has Been Saying)

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Is Turkey On The Path To Restoring The Ottoman Empire?

"Turkey's interest in northern Syria and northern Iraq is not an abstraction triggered by a group of religious fanatics calling themselves the Islamic State; it is the bypass, intersection and reinforcement of multiple geopolitical wavelengths creating an invisible force behind Ankara to re-extend Turkey's formal and informal boundaries beyond Anatolia."

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The Real Story Behind Turkey's US-Backed "War On Terror"

To let the media tell it, recent "attacks" - including a suicide bombing that killed 32 people earlier this month - have prompted Turkey to officially join the fight against ISIS. In reality, Ankara's motivations can be explained not by a desire to rid the world of "terrorists", but by considerations of political expediency and by an autocrat's insatiable thirst for power.

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ISIS "Ally" Turkey Seeks NATO Support As Two-Front "War" Escalates

As Turkey requests NATO support after launching strikes against both ISIS and PKK, question have arisen about Ankara's links to Islamic State and about the real aim of the country's "terror" crackdown.

"Erdogan is trying to achieve the result he failed to in the June 7 election in a political coup. That's the real aim of the steps taken now." "ISIS commanders told us to fear nothing at all because there was full cooperation with the Turks."

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Frontrunning: July 29

  • Fed expected to push ahead with rate hike plan (Reuters)
  • Upbeat earnings lift European stocks ahead of Fed (Reuters)
  • Chevron to Cut 1,500 Jobs (Rigzone)
  • Can Windows 10 Revive PC Sales? (WSJ)
  • U.S. Junk-Bond Buyers Left in Dark as Private Deals Become Norm (BBG)
  • Jeb Bush Drawing Big Bucks From GOP Establishment (WSJ)
  • Myriad of Greek Risks Means Money Managers in No Hurry to Return (BBG)
  • Gas production at Gazprom set to hit post-Soviet low (FT)
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The End Draws Near For Syria's Assad As Putin's Patience "Wears Thin"

In a defiant speech delivered over the weekend, Syria's Bashar al-Assad insisted that "defeat ... does not exist in the dictionaries of the Syrian Arab army," even as the strongman admitted that his military faced a debilitating shortage of manpower. Meanwhile, WSJ says Russian officials are "showing more openness to discussing alternatives to Mr. Assad as his regime loses territory."

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