• Tim Knight from...
    09/19/2014 - 20:15
    I was originally going to title this post "Jackie DeAngelis Must Die", but I thought she might take it the wrong way.

Iran

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Second Half Kicks Off With Futures At Record High On Lethargic Yen Carry Levitation





BTFATH! That was the motto overnight, when despite a plethora of mixed final manufacturing data across the globe (weaker Japan, Europe; stronger China, UK) the USDJPY carry-trade has been a one-way street up and to the right, and saw its first overnight buying scramble in weeks (as opposed to the US daytime trading session, when the JPY is sold off to push carry-driven stocks higher). Low volumes have only facilitated the now usual buying at the all time highs: The last trading day of 1H14 failed to bring with it any volatility associated with month-end and half-end portfolio rebalancing - yesterday’s S&P 500 volumes were about half that compared to the last trading day of 1H13.

 
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How Blackwater Survived Iraq Probes Of Being "Above The Law" - By Threatening To Kill Investigators





Just weeks before Blackwater guards fatally shot 17 civilians at Baghdad’s Nisour Square in 2007, The NY Times reports that the State Department began investigating the security contractor’s operations in Iraq. However, as James Risen (who himself faces jail time thanks to the White House) reports, a senior official of the notorious private security firm allegedly threatened to kill a government investigator leading the probe into the firm’s Iraqi operation. Stunningly (or not), the US embassy sided with him and forced the inspector to cut the visit short. “Blackwater contractors saw themselves as above the law,” Richter added; now we wonder what gave them that idea?

 
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Et Voila: World War Three





Whoever really runs things these days for the semi-mummified royal administration down in Saudi Arabia must be leaving skid-marks in his small-clothes thinking about Abu Bakr al-Baghdadi and his ISIS army of psychopathic killers sweeping hither and thither through what is again being quaintly called “the Levant.” ISIS has successfully shocked the world over the last two weeks by negating eight years, several trillion dollars, and 4,500 battle deaths in the USA’s endeavor to turn Iraq into an obedient oil dispensary. Things are happening at lightning speed over in the region and beware of how the turmoil spreads from one flashpoint to another.

 
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Laundering Illegal Money? There's Ultraluxury New York Real Estate For That





Today, we can finally end any debate on the topic of just where the world's illegal money comes to roost. The answer: ultra-luxury real estate, primarily in New York, courtesy of a report in New York magazine that catches up with what we first said in the summer of 2012, and which is titled, appropriately enough: "Stash Pad."

 
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The Great War’s Aftermath: Keynesianism, Monetary Central Planning & The Permanent Warfare State





The Great Depression did not represent the failure of capitalism or some inherent suicidal tendency of the free market to plunge into cyclical depression - absent the constant ministrations of the state through monetary, fiscal, tax and regulatory interventions.  Instead, the Great Depression was a unique historical occurrence - the delayed consequence of the monumental folly of the Great War, abetted by the financial deformations spawned by modern central banking. But ironically, the “failure of capitalism” explanation of the Great Depression is exactly what enabled the Warfare State to thrive and dominate the rest of the 20th century because it gave birth to what have become its twin handmaidens - Keynesian economics and monetary central planning. Together, these two doctrines eroded and eventually destroyed the great policy barrier - that is, the old-time religion of balanced budgets - that had kept America a relatively peaceful Republic until 1914. The good Ben (Franklin that is) said,” Sir you have a Republic if you can keep it”. We apparently haven’t.

 
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Sarajevo Is The Fulcrum Of Modern History: The Great War And Its Terrible Aftermath





One hundred years ago today the world was shook loose of its moorings. Every school boy knows that the assassination of the archduke of Austria at Sarajevo was the trigger that incited the bloody, destructive conflagration of the world’s nations known as the Great War. But this senseless eruption of unprecedented industrial state violence did not end with the armistice four years later. In fact, 1914 is the fulcrum of modern history. It is the year the Fed opened-up for business just as the carnage in northern France closed-down the prior magnificent half-century era of liberal internationalism and honest gold-backed money. So it was the Great War’s terrible aftermath - a century of drift toward statism, militarism and fiat money - that was actually triggered by the events at Sarajevo.

 
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"The Battle For Baghdad" - A Backgrounder On ISIS' Grand Plan





It is no secret that the extremist al-Qaeda Jihadist group known as ISIS for short, which in the span of weeks has overrun the northern part of Iraq, has grand ambitions to not only preserve its power in the north and central regions, as well as the border with Syria, but to ultimately proceed south where not only Baghdad is located but also the great energy infrastructure of the country: "the grand prize" for ISIS as it would make the extremist group viable and financially self-sustaining. But how and when will this "Battle for Baghdad" take place? For the answer we go to a backgrounder prepared by the Institute for the Study of War titled, as expected, "ISIS Battle Plan for Baghdad" which lays it out in detail.

 
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Mexican Military Chopper Shoots At US Border Guards After Entering American Airspace; Mexico Denies





Late last week, Mexico appears to have taken the US "border-crossing" issue to a whole new level even if it was really a case of a drug bust gone horribly wrong,  when as AP reported, on Thursday Mexican law enforcement crossed into Arizona by helicopter and fired two shots at U.S. border agents, a border patrol union leader says.  According to the Customs and Border Protection: "At approximately 5:45 a.m. Thursday morning, a Mexican law-enforcement helicopter crossed approximately 100 yards north into Arizona nearly 8 miles southwest of the Village of San Miguel on the Tohono O'odham Indian Nation while on a law-enforcement operation near the border. Two shots were fired from the helicopter, but no injuries or damage to U.S. property were reported. The incident is currently under investigation." Art del Cueto, president of the local border patrol union, said four agents were in a marked patrol vehicle when they were shot at. "They could say they didn't fire at the agents intentionally. But for them to say that they were no shots fired within the United States, toward the United States Border Patrol, is a lie. They got in contact with our managers and apologized for the incident," del Cueto said.

 
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Pentagon Admits Armed Drones Flying Over Baghdad; Top Shiite Cleric Joins US Calling For Maliki Ouster





With Iraq closing a last minute deal with Russia to reinforce its depleted airforce by purchasing second-hand Su fighter jets, suddenly the US found itself scrambling: the last thing it wants is to hand over control of Iraq's skies to foreign-made warplanes. Which is perhaps why as CBS just reported, a Pentagon official has officially confirmed that the US is now flying armed drones over Baghdad. "The flights, which are not round the clock, are for the protection of the embassy and are not the precursor to air strikes" according to the same source.

 
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"America Deluded Us" Slams Angry Iraq PM, Will Buy Russian Jets Instead In War Against ISIS





It was a week ago when we learned that in yet another diplomatic masterstroke, Russia's Vladimir Putin took advantage of the vacuum in relations between the US (which now wants its heretofore puppet prime minister in Iraq removed) and the Iraqi PM (who has been increasingly vocal against US allies in the region, namely Saudi Arabia, and US demands for a coalition government) and offered his "complete support" to the Iraqi leader. Today, the Iraqi leader has decided to  take Putin up on his offer and has announced he has bought used Russian jets which he will use instead of US fighter planes in his war against ISIS. "I'll be frank and say that we were deluded when we signed the contract [with the US]," Maliki said. "We should have sought to buy other jet fighters like British, French and Russian to secure the air cover for our forces; if we had air cover we would have averted what had happened," he went on.

 
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Mainstream Media Admits "The US Dollar's Domination Is Coming To An End"





The proof is clear. According to SWIFT, China’s renminbi is now the second most used currency in the world for global trade settlement, putting it ahead of even the euro. It’s happening. And based on the data, it’s completely obvious (as we continued to chronicle) to just about everyone but the US government. However, we were still surprised to see an article in the Financial Times’ banking intelligence subsidiary (‘The Banker’) entitled "The US’s dollar domination is coming to an end." This reality has become obvious to just about everyone... Reserve currencies come and go. So will the dollar. This is nothing new.

 
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"Not Truly Well Off": Bill Clinton Was Paid $105 Million For 542 Speeches Since 2001





In Hillary Clinton's attempt to seem "one of the people", she made the public relations debacle of portraying herself as "dead broke" at the time she and Bill Clinton left the White House. Of course, the reason this attempt at populist pandering backfired is because as is well-known, even the least educated American, the bulk of wealth American president families accrue is not while in office but after, when they hit the speaking/book publishing circuit. This is just what WaPo found when it conducted a review of the Clintons’ federal financial disclosure: it found that Bill was paid $104.9 million for delivering 542 speeches around the world between January 2001 and January 2013, when Hillary left her job as secretary of state.

 
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The Chaos In Iraq Is By DESIGN





The Real History of the American Strategy for Iraq and the Middle East

 
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Turkey's "200 Tons Of Secret Gold" Trade With Iran: The Biggest, Most Bizarre Money Laundering Scheme Ever?





While Ben Bernanke once said that "gold is not money", it appears China, Dubai, and most especially Turkey and Iran would disagree. On the heels of the "Petrogold" wars we discussed previously, a leaked report of a secret plot to 'juice' Turkey's trade balance exposes gold at the heart of "one of the most complex illicit finance schemes [prosecutors] have seen."

 
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Baghdad May Lose Its Drinking Water As ISIS Approaches Second Largest Dam





Against a background of having lost control of all western border crossings, Iraqi officials are concerned that ISIS fighters are advancing on the Haditha Dam, the second-largest in Iraq. With militants pouring in from the north, the northeast and the northwest, The NY Times reports, army officers told employees to stay inside and to be prepared to open the dam’s floodgates if ordered to do so. "This will lead to the flooding of the town and villages and will harm you also," warned one worried employee but this would not be the first time that the Iraqi government and ISIS have engaged in dam warfare, as the closure of the Falluja dam earlier in the year starved areas downstream in the provinces of Najaf and Diwaniya of water needed for crops. The situation is growing more grave as Maliki rejected calls for a caretaker government and has forced Iran's hand to help. Senator Saxby Chambliss of Georgia noted "the Iranians are playing in a big way in Iraq."

 
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