60% of Americans Want a Third Party Candidate for 2016
Even as Washington stares into a fiscal abyss of its own construction, there is one bright spot: the ongoing global popularity of the $100 bill. The U.S. Treasury/Federal Reserve launched their latest version of the venerable C-Note just this week, printing $350 billion worth over the last 12 months to meet anticipated robust worldwide demand. Given that $100 bills last about 15 years in circulation, ConvergEx's Nick Colas notes that these record amounts seem to indicate very strong worldwide demand for hard currency rather just replacing old stock. In the US, by contrast, the ‘Cashless economy’ is coming hard and fast.
Congress Is Less Popular than Dog Poop, Toenail Fungus, Hemorrhoids, Cockroaches, Lice, Root Canals, Colonoscopies ...Submitted by George Washington on 10/09/2013 14:06 -0500
There are dates that go down in history and some will be remembered as landmark signals of changing times. Russia has the upper hand in Syria.
If there’s one country in the world that you might not think would be at the top of the outsourcing list and the place to send orders to be fulfilled from the West, it would probably have to be North Korea. The world’s most closed economy, that Communist dictatorship.
'War-Drums', 'told-you-so-dance' on chemical weapons, or 'this was the cunning plan all along and the Russians played along perfectly' - we wonder which script will hit the teleprompters first tonight... and should we still be fearful of North Korea and Iran sending Sarin into the US? We are sure there will be something for everyone in this speechapalooza...
Whenever something bad happens – Iran moving closer to acquiring nuclear weapons, North Korea firing another missile, civilian deaths reaching another grim milestone in Syria’s civil war, satellites revealing an alarming rate of polar-ice melt – some official or observer will call upon the international community to act. There is only one problem: there is no “international community.” In short, those looking to the international community to deal with the world’s problems will be disappointed. This is not reason for despair or grounds for acting unilaterally. But so long as “international community” is more hope than reality, multilateralism will have to become more varied.
Mere hours before President Obama is due to give his war-mongery-cum-diplomacy-Syria-needs-to-be-spanked speech to the nation, the UN Security Council is due for a closed-door meeting (no one will have a clue what is being said) to discuss Russia's plan to place Syrian chemical weapons (but not North Korea or Iran's) under international control. However, as Reuters reports:
- RUSSIA'S PUTIN SAYS SYRIAN CHEMICAL WEAPONS HANDOVER PLAN WILL ONLY WORK IF UNITED STATES REJECTS USE OF FORCE
...which one again puts the onus on Obama to back down as Putin hopes this handover plan will be a "good step towards a peaceful solution."
McCain Says Take The Deal; Assad Warns It's Obama's Problem: "We'll Do Anything To Prevent Another Crazy War"Submitted by Tyler Durden on 09/09/2013 19:22 -0500
The first clips from Charlie Rose's interview with Assad are being released and given the Russia-Syria discussions, Obama's skepticism, and now John McCain's 'dubious support' for "the US getting on board with Russia's proposal for Syria to hand over its chemical weapons," we thought this brief view of Assad's response was telling...
Two weeks ago, the Syrian regime reportedly ordered the use of chemical weapons, which U.S. sources state killed over 1400 people. Over one year ago, President Obama declared that any movement or use of chemical weapons would cross a “redline.” Right from the start, officials in the Obama White House assured the public that any decision to use force against Syria would not be designed to impose regime change. Why would the administration take such an option off the table? As strategists and policymakers have understood since time immemorial, any decision to use military force must be guided by a strategy. If Washington’s strategy is to stop Assad from using chemical weapons, demonstrate that America is committed to enforcing this international norm, and undermine states that support such atrocious actions, regime change remains the critical instrument for the United States. In fact, all other options are highly susceptible to failure. In the end, the failure to put the instrument of regime change on the table demonstrates a lack of resolve, commitment, or weakness—all of which will be interpreted by friend and foe alike as acquiescence in the face of states using chemical weapons.
Asia is a damned excited part of the world. And Singapore is the financial epicenter of all of it. For the last 24-hours, banker and fund manager friends of mine have been telling me stories about oil refinery deals in North Korea, their crazy investments in Myanmar, and the utter exodus of global wealth that is finding its way to Singapore. In the last few weeks we are seeing two new groups moving serious money into Singapore - customers from Japan and India. The contrast is very interesting. From Japan, people who see the writing on the wall just want to be prepared with a sensible solution. They’re taking action before anything happens. From India, though, people are in a panicked frenzy. They waited until AFTER the crisis began to start taking any of these steps. As a result, they’re suffering heavy losses and taking substantial risks... some wealthy Indians are trying to smuggle out diamonds... anything they can do to skirt the government's capital controls.
With the value of the rupee plunging to new lows, the current account deficit at an all-time high and inflation running at nearly a ten-percent annual clip, India is in serious economic trouble. Indeed many are beginning to wonder whether the country is edging toward a replay of the events in the summer of 1991. Back then, an acute balance of payments crisis forced New Delhi into the indignity of pawning its gold reserves in order to secure desperately needed international financing. At a small public event the other week, Duvvuri Subbarao, the outgoing head of the central bank conceded that policymakers rarely learn from their mistakes: "...in matters of economics and finance, history repeats itself, not because it is an inherent trait of history, but because we don’t learn from history and let the repeat occur."
With US President Obama now seeking authorization from Congress to attack Syria, the already spirited debate surrounding the advisability of such military action is bound to get even more lively in the coming days.
The Obama Administration believes military action will send a powerful message. In that, they are correct. Where they are wrong is in what message it will send and in what way that message will elicit a response. In much of the world where people share the religion common to much of Syria, the message will be: America attacks yet another Moslem nation. In the rest of the world, where governments have already declined participation in any message-sending action (except for the one exhibiting the quintessential Napoleon Complex), the message will be: there they go again, doing something they would never want done to them, and demonstrating that they alone think they can decide what deaths constitute a moral obscenity and what constitute mere unfortunate collateral damage.
It seems clear that it is not "if" but "when" an attack takes place and as the following world-cloud confirms; the US "know"... as the strategy "better to ask for forgiveness than permission?" And that with the Russia meeting due next week, and a UN inspector report that appears pointless now that we have social media, that the attack will occur sooner rather than later...