Vladimir Putin

Amid reports that Russia is building a substantial military presence in Syria, a worried John Kerry called Sergei Lavrov on Saturday. Here, according to the State Department, is what was said: "The secretary made clear that if such reports were accurate, these actions could further escalate the conflict, lead to greater loss of innocent life, increase refugee flows and risk confrontation with the anti-ISIL coalition operating in Syria."

Over the past 48 hours or so, we’ve seen what certainly appears to be visual confirmation of a non-negligible Russian military presence in Syria. Going into the weekend however, Russia had yet to confirm publicly that it had commenced military operations in the region despite the fact that it’s the next closest thing to common knowledge that at the very least, the Kremlin has provided logistical support and technical assistance for a period that probably spans two or more years. But on Friday, Vladimir Putin looks to have confirmed the scope of Russia’s military role, even if he stopped short of admitting that Russian troops are engaged in combat.

The EIA released a report this week that showed that there would be little effect on gasoline prices if the U.S. government lifted the ban on crude oil exports. In fact, gasoline prices could even fall because refined product prices are linked to Brent much more than WTI, so more supplies on the international market would push down Brent prices. The report lends credence to the legislative campaign on Capitol Hill to scrap the ban, a movement that is picking up steam. On the other hand, although few noticed, the EIA report also said that the refining industry could lose $22 billion per year if the ban is removed. So far, many members of Congress have been reluctant to weigh in on this issue for exactly that reason: it pits drillers against refiners, both of which are powerful political players.

"There is a general understanding that joint efforts in the fight against terrorism should go hand by hand with the political process in Syria. Assad agrees to this and has also agreed to early parliamentary elections and to include healthy opposition." 

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"The opening of the new units will feed an artificially created confrontation. [This is] the logic of the Cold War. It runs counter to genuine interests of the European and regional security." - Alexander Grushko, Russian ambassador to NATO.

Live feed from China's Tiananmen Square, where moments ago, China's historic 70th V-Day celebration parade has begun.

Something is afoot as de-dollarization escalates around the world. With CNY/RUB trading volumes up a stunning 400% year-over-year to record highs, and hot on the heels of China's (and much of EM Asia) dumping dollar assets, Russian President Vladimir Putin has just unleashed a new bill aiming to completely eliminate the US dollar from the trade of goods.

On Thursday, Ukraine struck a restructuring agreement on some $18 billion in Eurobonds with a group of creditors headed by Franklin Templeton. That's the good news. The bad news is that Ukraine also owes $3 billion to Vladimir Putin, and Vladimir Putin wants it back. All of it.

War-torn Ukraine has reportedly reached a restructuring deal with a group of creditors headed by Franklin Templeton, according to the country’s finance minister Natalie Jaresko. The terms of the agreement call for a 20% writedown and a reprofiling that includes a maturity extension of four years and an across-the-board 7.75% coupon. Vladimir Putin isn't interested.

The trouble is that it’s not inconceivable Trump could get elected. Farfetched, perhaps, but not out of the question. The USA is heading for a very rough patch of history — as those of you with your eyes on the stock indexes lately may suspect. The country stands an excellent chance of waking up some morning soon to discover it is broke and broken. When that happens, all the anxiety and animus will be focused on looking for scapegoats, and they are likely to be the wrong ones. World leaders considered Hitler a clown in the early going, too, you know.

"What can we do?"

The Russian Airborne Troops are ready to assist Syria in countering terrorists, if such a task is set by Russia’s leaders, commander of the Airborne Troops Colonel-General Vladimir Shamanov told reporters on Tuesday.

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.

Having told Jimmy Kimmel that he "would love to" appoint Sarah Palin to his cabinet, The Washington Post asks (and answers), just what would a trump cabinet look like?