TSA Breaks Silence, Defends Secretive Domestic Surveillance Program

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The TSA has broken its silence to defend its alarming domestic surveillance program called “Quiet Skies” which allows the agency to use teams of armed Air Marshals to follow, track and surveil virtually anyone. TSA administrator David Pekoske told CBS news in a recent interview that the program “…makes an awful lot of sense, to be able to… Read More

Chile Catholic Episcopal Conference Raided In Pedophile Priest Probe

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Chilean authorities are raiding the headquarters of the Catholic Church’s Episcopal Coverence as part of a wide-ranging probe into clerical sex abuse in the South American country.  The Tuesday raids are occurring in the most important building of the Chilean church in the capital of Santiago, say prosecutors. Authorities recently summoned the archbishop of Santiago,… Read More

Trump Has "Great Deal Of Frustration" With Erdogan As White House Warns More Sanctions Coming

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President Donald Trump “has a great deal of frustration,” with Turkish President Recep Tayyip Erdogan, White House press secretary Sarah Huckabee Sanders said at a briefing Tuesday, calling again on the Turkish “executive president” to release pastor Brunson and other U.S. citizens as the diplomatic standoff between the two nations continued to weigh on global markets. “We’re going… Read More

The Emerging Market Contagion Flowchart

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There is a striking pattern of regularity how every time the dollar spikes, or sufficient high level, emerging market contagion usually follows. Yes, of course, “each time is different”, and frequently there are idiosyncratic factors but for the most part, the one precipitating factor to turmoil in emerging markets (at first, as it then spreads… Read More

WTI Dives Back Below $67 After Surprise Crude Build

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WTI continued in its rangebound mode (slightly weaker into tonight’s print) but slumped back below $67 tonight after API reported a surprise crude build.   API Crude +3.66mm (-2.5mm exp) Cushing +1.64mm  (+500k exp) Gasoline _1/56mm Distillates +1.94mm The last few weeks have seen crude inventories flip-flopping between draws and builds with a big surprise… Read More

Dead. Cat. Bounce..?

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This… Emerging Market FX rallied broadly on the day (after the biggest 4 day drawdown since Lehman) – its best day in three weeks…   The Argentine Peso slipped lower in the late day…   Of course, all eyes were on the Lira as it rallied back up to unchanged from Friday’s close… After its… Read More

US Household Debt Hits Record $13.3 Trillion

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Total household debt hit a new record high, rising by $82 billion to $13.29 trillion in Q2 of 2018, 3.5% higher than a year earlier according to the NY Fed’s latest household debt report. It was the 16th consecutive quarter with an increase in household debt, and the total is now $618 billion higher than… Read More

Twitter To "Suspend Accounts For Trying To Evade Suspension"

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Having seemingly distracted the world, briefly, from being caught ‘shadowbanning’ conservatives (or should we say “using quality filters”), by outright-banning other right-leaning individuals (Alex Jones and Peter van Buren forever; and Candace Owen and Ron Paul Institute’s Daniel McAdams temporarily), it appears Twitter’s CEO Jack Dorsey has a cunning plan for purging the rest of… Read More

"It Can Only Go Up From Here"

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Authored by Lance Roberts via RealInvestmentAdvice.com, This past weekend, I discussed the correction last Friday as concerns over “Turkey Turmoil” grabbed headlines. “The market did indeed attempt to test all-time highs this past week, but, as noted, the overbought condition provided the fuel for a correction given the right catalyst. That catalyst appeared on Friday as the… Read More

Forget About Turkey: Asia Is The Elephant In The Room

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Back in November 2016, the BIS picked up on a topic we have discussed often over the years namely the critical role of the dollar abundance (or shortage) in defining market stress, and went one further, and in a research note made the striking claim that while the VIX was dead as an indicator of… Read More

Kaspersky Lab Contest Reveals Ease Of Hacking Oil Refineries

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Authored by Herman Wang and Katherine Dunn via S&P Global Platts’ “The Barrel” blog, In October, four South Korean hackers in Shanghai spent seven hours attempting to infiltrate an oil refinery’s corporate network to gain access to its control systems and shut the facility down. Another 15 minutes or so, and they likely would have… Read More

Goldman Reportedly Had No Mandate When Musk Tweeted

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Following Elon Musk’s tweet last night, claiming that: “I’m excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private” As Bloomberg notes, such a statement from a public company CEO typically signals… Read More

Strzok GoFundMe Raises $250,000 Within Hours

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A GoFundMe launched by the “Friends Of Special Agent Peter Strzok” has raised over $250,000 from over 6,000 people in less than 24 hours, after the fired FBI agent tweeted a link to the campaign yesterday. The campaign, which originally sought to raise $150,000 has now raised its goal to $350,000 – and at this rate,… Read More

Cooperate Or Die: In Private Meeting, Top Facebook Exec Threatened News Outlets

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Authored by Jake Johnson via Common Dreams, During a closed-door and off-the-record meeting last week, top Facebook executive Campbell Brown reportedly warned news publishers that refusal to cooperate with the tech behemoth’s efforts to “revitalize journalism” will leave media outlets dying “like in a hospice.” Reported first by The Australian under a headline which read “Work With Facebook or… Read More