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Turkey = Noise… Here’s What Really Matters…

by Zach Scheidt
Daily Reckoning

“Turkey? Am I Really Talking About Turkey??”

I got a laugh this week when I got an email from Alan Knuckman with this in the subject line.

Over the past week or so, the markets have been under pressure thanks to a debt crisis in Turkey. The country itself has some big debts that are becoming harder and harder to pay. Meanwhile, many individuals in the country also carry high debt loads and there are reports of people taking out bank loans to cover the interest on existing bank loans.

Common sense tells us that this won’t end well.

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They’re Getting Weirder

from Mark Dice

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Why You Shouldn’t Underestimate This Chinese Startup

by Justin Spittler
Casey Research

Tesla shareholders should be worried.

I don’t say this because CEO Elon Musk may not have “funding secured” to take the company private… or because the Securities and Exchange Commission (SEC) might come down on the electric car maker… or even because two of its biggest institutional investors are pulling out.

No. I say this because U.S. investors will soon have a new way to play the electric vehicle (EV) revolution.

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Tommy Robinson Destroys Daily Mail “Journalist”

from Tommy Robinson

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About Those Opioids…

by Karl Denninger

Gee, this sounds good, right?

Under Operation SOS, I am ordering our prosecutors in 10 districts with some of the highest overdose death rates to prosecute every synthetic opioid trafficking case, no matter how small.


Where are the synthetic opioids coming from?

China is where the precursors are coming from, and most of the shipments are either coming in directly from China or through Mexico — after being shipped in from China.

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The Truth About Anarchy – Panel Discussion with Walter Block at Anarchaportugal

from The Dollar Vigilante

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Gold Market Bounces but Here’s Why Contagion Worries Continue to Persist

from King World News

With the US dollar retreating and the gold market bouncing, many are still wondering if we are about to see contagion take hold.

Worried About Contagion? Keep An Eye On Italy

August 17 (King World News) – Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: While we are all watching where Turkey’s debt, deficit and inflation problems might spread to, if at all, Italy should be the main focus as we enter the weekend with some pretty poor performance in their markets. The 10 yr yield is higher by 2 bps at 3.14% and that is just 2 bps below the hissy fit we saw in May. Its spread to the German 10 yr is 7 bps from the wide seen in May (see chart below).

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Rick Ackerman – Has the Stock Market Topped Out?

from Financial Survival Network

Rick Ackerman joined us today for a quick look at the market and the economy. Are we in a new Trumpian Paradigm where markets keep going higher and higher and commodities keep going lower and lower? The recent market action can make one wonder. But Rick believes that the January 2018 Dow Peak and the recent NASDAQ and Russell 2000 highs could be showing a market disconnect which could very well mean rough sailing ahead. But that’s not so bad because it will mean opportunities in other markets will start appearing.

Click Here to Listen to the Audio

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Brennan Loses Security Clearance, Big Tech Killing Free Speech, Dollar Update

Greg Hunter’s Weekly News Wrap-Up for August 17th, 2018

by Greg Hunter
USA Watchdog

Obama Administration CIA Director John Brennan had his security clearance revoked by President Trump. Brennan says it’s an attack on Trump’s critics. Others say it’s the beginning of punishment for being the “ringleader” of a soft coup to remove Donald Trump from office. Are indictments of Brennan and his co-conspirators coming soon?

Say something that big tech companies do not like and you can be banned from social media platforms such at Twitter and Facebook. It’s not just people like Alex Jones getting banned, it is also GOP congressional candidates such as Elizabeth Heng whose family story about escaping brutal communist dictator Pol Pot in Cambodia is considered “obscene.”

Lots of people are worried about the U.S. dollar. Is it going to continue to rise in value? Is the Fed going to keep raising interest rates on the short end of the curve? Can emerging markets like Turkey survive without an economic meltdown? All good questions, and we will try to give you the answers.

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Pentagon Whistleblower Demoted After Exposing Millions Paid to FBI Spy Halper, Clinton Crony

from Zero Hedge

A Pentagon whistleblower was stripped of his security clearance and demoted after complaining about questionable government contracts with both FBI informant spy Stefan Halper and a company headed by Chelsea Clinton’s “best friend” for whom then-Secretary of State Hillary Clinton arranged meetings, reports the Washington Times.

Adam Lovinger, a Trump supporter and 12-year veteran of the Pentagon’s Office of Net Assessment (ONA), filed a whistleblower reprisal complaint with the Defense Department’s inspector general in May against ONA boss James Baker – who hired Halper, 73, to “conduct foreign relations” and kept the details of the spy’s contracts “close to the vest.” Baker was appointed chief of the ONA in 2015 by Obama Defense Secretary, Ashton Carter.

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Bill Murphy: Gold and Silver Prices Are Still Manipulated Lower

from Scruff McDudington

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Here’s How “External Dollar Debt” Produces an “Emerging Market Crisis”

by John Rubino
Dollar Collapse

Emerging market currencies are collapsing pretty much everywhere these days. But it’s safe to assume that most people don’t understand exactly what’s causing this outbreak, why it’s happening now, or what “external dollar debt” has to do with it. So here’s a quick primer followed by the obligatory apocalyptic prediction:

Prelude: cheap dollar financing

Pretend for a second that you’re Brazil. Your economy is in pretty good shape and your currency – the real – is getting stronger. Because of this, people are willing to lend you money.

Your internal interest rates – that is, what you’d have to pay to borrow real – are around 6%.

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Earnings Report Season Heats Up as Wal-Mart Soars, Rivals Stumble

from Boom Bust

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