Iran

As Russia gears up for an offensive designed to rout anti-government forces operating in Syria, the US finds itself in the awkward position of having to partner with two of Washington's fiercest critics in the fight against terror. With the clock ticking on America's Mid-East strategy, Obama is set to sit down for a critical one-on-one with Putin that could have major geopolitical implications.

• Global Markets Rebound on Yellen Speech (WSJ)
• Obama and Putin to meet; Syria and Ukraine vie for attention (Reuters)
• Obama to host China's President Xi amid simmering tensions (Reuters)
• Don't Fall for It, Xi! Chinese Take to Web to Scorn U.S.—and China, Too (BBG)
• Yellen Confirms Fed Still on Track to Raise Rates This Year (BBG)... but is still China dependent?
• Abe's New Economic Plan Confounds Analysts (BBG)
• It's All `Perverted' Now as U.S. Swap Spreads Tumble Below Zero (BBG)

"According to a senior officer in the Syrian Arab Army (SAA) that is stationed inside the Syrian coastal city of Latakia, Chinese military personnel and aerial assets are scheduled to arrive in the coming weeks (6 weeks) to the port-city of Tartous – he could not provide anymore detail."

As Bloomberg reports, "President Vladimir Putin, determined to strengthen Russia’s only military outpost in the Middle East, is preparing to launch unilateral airstrikes against Islamic State from inside Syria if the U.S. rejects his proposal to join forces, two people familiar with the matter said."

"The American people have no reason to believe that they’ve heard the full story and every reason to believe that Washington assumes they are too stupid or preoccupied to care about cyber security."

Great companies like Hewlett-Packard are now being run not by adult professionals but day-trading punters. Carly Fiorina was one of the latter. She excelled at mastering her flash cards and pitching financial bubbles from the time of the misbegotten Lucent IPO, to her campaign for the Compaq acquisition, to her final days at Hewlett-Packard. What she didn’t excel at was learning a single thing that qualifies her to be President of the United States - not the least of which is humility. Fiorina needs to shut-up, sit down and flush her flash cards. The furtherance of liberty, prosperity and peace are not what Torquemada’s do.

As tipped last month, the IAEA is allowing Iran to self-police the sample collecting process at a controversial military installation. Although inspectors and Iranian officials give conflicting accounts, what's clear is that Tehran is not at all prepared to accept a situation that causes the Rouhani government to lose credibility with the Iranian public. Expect GOP lawmakers (not to mention presidential candidates) to hold this up as yet another example of why the deal is likely to blow up (figuratively speaking we hope) in the face of the Obama administration.

• Global Stocks Steady Despite China Slowdown (WSJ)
• European Recovery Saves Markets From China Gloom as Stocks Rally (BBG)
• Pope starts U.S. trip with tone of conciliation (Reuters)
• FBI Said to Recover Personal E-Mails From Hillary Clinton Server (BBG)
• Volkswagen chief faces grilling by board over diesel scandal (Reuters)
• 'European Detroit' Fear Grips VW Company Town as Scandal Widens (BBG)
• Berlin finds itself caught up in Volkswagen scandal (FT)

“American exceptionalism has to be driven out of our curriculums. We’re not under threat. We are the threat.”

After 35 years of falling and now zero rates, the direction is only up for the cost of money, as is the cost to service debt, along with the burden to those who are most indebted (i.e. the U.S.). What should no longer be unthinkable is that the clock is ticking on America’s status as the holder of the reserve currency. If you still doubt this proposition, consider that China is in the process of setting up a third benchmark for oil, along with Brent and West Texas Intermediate, for trading oil futures contracts. And unlike the existing contracts, these will be traded in Renminbi. Who needs the dollar?

“We assume [the Russian buildup in Syria is] being coordinated with the Iranians. What we are seeing now is that there is some sort of Iran nexus."

A series of dramatic moves at the helm of Germany's iconic carmaker leaves many wondering what's next. Here are some thoughts.

What can we expect to happen in our homeland when finally even the generally uninformed population also understands that governments they have elected for decades, and its Fed facilitator or controller, jointly have waged a century-long war on its citizens? The people of America cannot make a counter offensive similar to those of sovereign nations; however people are uniting in resistance to robber baron policies, as evidenced by the popularity of nonpoliticians currently in candidacy for the office of president. These troops will mass also, it just remains to be seen what form their eventual counter offensive will be. The established order will be challenged.