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By globalintelhub

It seems that such events are always planned for the weekend. News of the attempted Turkish coup reached FX investors just hours before the close.

Turkey’s currency is an exotic currency, commonly traded against USD, EUR, and JPY. Near the close, a huge spike in USD/TRY:

Just as FX traders were worried about not having another Brexit moment for a few more years, only weeks later here’s another. But this time it happened just before Friday’s close at 5pm NYT so we’ll see how the market opens Sunday night.

EUR/USD sold off on the news as well, but only reached its channel lows.

From CNBC:

The U.S. dollar gained as much as 5.5 percent against the Turkish lira after a group within Turkey’s military apparently attempted to overthrow the government on Friday.

The dollar was last up 4.72 percent against the lira.

It seems this FX event is a sign, that Europe is going to be full of “Brexit” moments in the coming years, and that FX is going to be the market defining this next epoch of investing.

For those who don’t understand Forex, the above chart represents the US Dollar against the Turkish Lira, that means when you see a spike UP, it means US Dollar going UP and Turkish Lira going DOWN.

So, here’s another boost to the good ol’ USD, who is now being accused of the coup itself.

FX traders patiently wait for markets to open, 24 hours from now.

To learn more about Forex, checkout Splitting Pennies – Understanding Forex the book.

…read more

Source: Friday Night Lights – Another Brexit moment for FX

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By Tyler Durden

Submitted by Yves Mamou via The Gatestone Institute,

“We are on the verge of a civil war.” That quote did not come from a fanatic or a lunatic. No, it came from head of France's homeland security, the DGSI (Direction générale de la sécurité intérieure), Patrick Calvar. He has, in fact, spoken of the risk of a civil war many times. On July 12^th, he warned a commission of members of parliament, in charge of a survey about the terrorist attacks of 2015, about it.

In May 2016, he delivered almost the same message to another commission of members of parliament, this time in charge of national defense. “Europe,” he said, “is in danger. Extremism is on the rise everywhere, and we are now turning our attention to some far-right movements who are preparing a confrontation”.

What kind of confrontation? “Intercommunity confrontations,” he said — polite for “a war against Muslims.” “One or two more terrorist attacks,” he added, “and we may well see a civil war.”

In February 2016, in front of a senate commission in charge of intelligence information, he said again: ” We are looking now at far-right extremists who are just waiting for more terrorist attacks to engage in violent confrontation”.

No one knows if the truck terrorist, who plowed into the July 14^th Bastille Day crowd in Nice and killed more than 80 people, will be the trigger for a French civil war, but it might help to look at what creates the risk of one in France and other countries, such as Germany or Sweden.

The main reason is the failure of the state.

1. France is at War but the Enemy is Never Named.

France is the main target of repeated Islamist attacks; the more important Islamist terrorist bloodbaths took place at the magazine Charlie Hebdo and the …read more

Source: Surging "Intercommunity Confrontations" In France Mean "Civil War Is Inevitable"

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By Tyler Durden

Via The Daily Bell,

How the CIA Hoodwinked Hollywood… Since its inception, the agency has wooed filmmakers, producers, and actors in order to present a rosy portrait of its operations to the American public.

–Atlantic

This is a good article by the Atlantic, a neo-con publication that aspires to be a “thought publication.”

This article rehashes the history of the CIA in Hollywood and, in fact, is fairly comprehensive and touches on a number of compelling points.

More;

The CIA has a long history of “spooking the news,” dating back to its earliest days when the legendary spymaster Allen Dulles and his top staff drank and dined regularly with the press elite of New York and Washington, and the agency boasted hundreds of U.S. and foreign journalists as paid and unpaid assets.

In 1977, after this systematic media manipulation was publicly exposed by congressional investigations, the CIA created an Office of Public Affairs that was tasked with guiding press coverage of intelligence matters in a more transparent fashion.

The agency insists that it no longer maintains a stable of friendly American journalists, and that its efforts to influence the press are much more above board. But, in truth, the intelligence empire’s efforts to manufacture the truth and mold public opinion are more vast and varied than ever before. One of its foremost assets? Hollywood.

This is an honest appraisal so far as it goes. As is the article’s conclusion:

With few exceptions, Hollywood has long functioned as a propaganda factory, churning out jingoistic revenge-fantasy films in which American audiences are allowed to exorcise their post-9/11 demons by watching the satisfying slaughter of countless onscreen jihadis.

This never-ending parade of square-jawed secret agents and bearded, pumped-up commandos pitted against swarthy Muslim madmen straight out of central casting has been aided and abetted by a newly emboldened CIA all too happy to offer its “services” to Hollywood.

The article, thousands of words long, still managed to miss some important points, however.

It doesn’t provide us with much in the way of a frame of reference. The control that the CIA exercises over Hollywood is multiplied many times by the control the CIA exercises over the communications industry generally.

At the top of the CIA, executives are responsive to the City of London. Intelligences agencies were manufactured by banking families initially.

Only later on, were their functions laid off onto governments. Now the cash flow comes from tax dollars, but the agencies themselves are still controlled out of the City.

This goes for other countries as well, including Israel, which was created by the City, which still runs it.

It is probably not too much of an exaggeration to say that its spooks run both Facebook and Google – especially given that the CIA invested in both companies when they were just beginning.

Basically, the Atlantic article makes it sound as if the CIA’s control over Hollywood is evolutionary and even voluntary. This is to misstate the way the CIA works.

Surreptitious intel operations have doubtless been in charge of Hollywood since its inception. If anyone doubts …read more

Source: C.I.A. – Controlling It All

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By Tyler Durden

Via FinancialRepressionAuthority.com,

FRA Co-Founder Gordon T.Long and Jeffrey Snider, Head of Global Investment Research at Alhambra Investment Partners discuss earnings, the Chinese Yuan, Japanese Yen and the falling credibility of central banks.

EARNINGS

“It is no doubt that earnings have been under-performing.”

What’s even more concerning is that not even is the top line falling off, but the cash flow is falling dramatically and this impacts credit along with everything else. With no earnings and no cash flow it puts us in a high risk environment. The only thing that has been holding up the market has been excessive corporate buybacks which has come out of cash flow, and to a lesser degree, borrowing. But to borrow is tough when you don’t have the cash flow to justify the credit ratings.

“How long can buybacks continue to support a market which is standing on a fundamentally flawed premise?”

We have had 4 to 5 quarters of falling revenue but the US market seems to ignore it. At some point reality has got to set in. But it is also important to note that trade problems are a systemic factor to the decline in earnings. China’s imports are down 17% year over year, but these imports are coming from basically the emerging markets and commodity markets. They have also borrowed upwards of 9 trillion USD in the last 7 years that has suddenly gotten very expensive for them, I think there is more pain to come.

CHINESE YUAN

“The health of the Yuan is tied into the global economy and the fact that the global economy is stumbling.”

Less growth in China combined with less growth around the world again increases financial risk which fuels more reluctance to funnel dollars into China; it has become a vicious cycle. The Chinese have no choice but to continue going in one direction, they are in a rock in a hard place. As the Chinese Yuan has been falling, the Yen has been rising in strength. This has become a huge issue for Japan to add to their already lost list of issues to deal with. A fracture is likely around the corner, China and Japan cannot go long without devaluing the Yen.

The markets are reassessing what central banks can actually do. And what markets found was that central banks aren’t actually as powerful as everyone believes them to be and Japan is a perfect example of that. No matter what the BOJ does that Yen continues to move on up. It fits into the paradigm of the economy, the financial risk, everyone reevaluating what central banks are capable of etc. The markets are reevaluating central banks because they see that a tight money environment despite efforts from central banks to fuel stimulation.

“Some major European bank stocks are indicative of an incoming banking crisis. We see already low interest rates around the world getting lower with each passing day; this is indicative of …read more

Source: "Janet Yellen Sounds Like A Fumbling Idiot No Matter What She Does"

    

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