Wake-Up Call America: Iceland's New President Has Never Been A Politician...

Meet Icelandic president elect Guoni Johannesson - a scholastic expert on political history, diplomacy and the Iceland constitution - who has never been a member of a political party, is a husband and father, and reportedly chose to run for president after the release of the Panama Papers.

"Brexit Sends A Clear Message To Sick Political Elite" Marc Faber Sees "Only Good Contagion"

A revolt against the political establishment "is already well underway. Brexit is a huge boon for Trump and a wake-up call to Hillary that ordinary people are sick and tired of being lied to and cheated by the crony capitalistic system..."

Brexit Hedge Unwind Sparks Volumeless Dead Cat Brounce

At Least 10 Killed After Suicide Attackers Set Off Blasts At Istanbul's Ataturk Airport - Live Feed

Two explosions, together with gunfire, took place moments ago at Ataturk International Aiport in Istanbul, according to Bloomberg and the major newswires. The interior ministry adds that there have been multiple injuries following the explosions, while CNN Turk adds that there are casualties.

Don't Count Out Donald Trump Yet

Trump experienced a horrible period from mid-May to mid-June, which culminated in the dismissal of campaign manager Corey Lewandowski. Based on the mainstream media, Trump is finished. We’ve been incessantly bombarded with articles highlighting an ever widening lead for Hillary Clinton nationally in the polls. So is Trump finished? Not by a long shot.

CCTV Camera Captures Moment Of Istanbul Airport Explosion

The following video, courtesy of Mahir Zeynalov, shows the precise moment when at least one of the two Ataturk Airport explosions took place. Viewer discretion advised.

WTI Jumps Above $48 After Bigger Than Expected Crude Inventory Draw

Last week's huge API-reported inventory draw followed by disappointing DOE-reported draw sent crude prices flip-flopping around $50 before they plunged into Brexit. Having ramped all day and beyond the NYMEX close, WTI tagged $48 and was fading into the API data. Against expectations of a 2.5mm draw, API reported a 3.86mm draw (remember they said 5.22mm draw last week before DOE said 917k). The entire complex saw inventories drawdown with Cushing more than expected, bouncing WTI back above $48.

Nike Tumbles To August 2015 Levels After Missing On Revenue, Future Orders, Margin Decline

Nike stock tumbles after hours, after the company reported earnings that beat expectations, but revenues, margins and futures orders all missed, while inventory rose 12%. The stock was down about 6% on the news, and is now back to levels not seen since the August 2015 crash.

Why The ECB Thinks Brexit Is Not A "Lehman Moment"

"I think indeed the comparison does not apply because the reaction to Lehman as you may recall was that several markets froze... That was not the case this time." Actually... that's not exactly true is it!!

Farage Slams The EU Parliament: "You're Not Laughing Now Are You?"

In his first appearance in European Parliament since the Brexit vote, UKIP leader Nigel Farage was greeted with raucous jeers and boos (presumably for enabling The Brits to exercise their democratic right to self-determination). Once EU President Martin Schulz had demanded (ironically) that they listen, Farage began his 'victory' speech by reminding his so-called peers of their laughter when he first suggested UK should leave The EU - "you're not laughing now... are you!"

European Parliament Plans To Remove English As An Official Language

There has been a lot of speculation surrounding what the changes will be in the relationship between the UK and the European Union as a result of the Brexit referendum. One thing we do know, is that according to a senior MEP, English will no longer be an official language of the European Union.

Are CEOs Dumb, Greedy, Or Corrrupt?

These MBA geniuses aren’t dumb in the traditional sense. But their decisions to squander hundreds of billion of shareholder money making horrible investment choices points to their greed and corruption.

What's Next For The S&P: "All Eyes On 1,950" The Charts Say

With global equity and especially FX markets underoing historic moves in the last two days, every trader's playbook has been tossed aside as setups and trendlines everywhere have been broken. So for everyone trading on nothing but momentum - which these days is most, and certainly all algos  -  here are some observations from BofA's chief technicial Stephen Suttmeier who says that with the S&P failing to breach 2,100 again, and having broken 2025, "all eyes are now on 1950."

Forget Hikes - Rate-Cut Odds Soar For September As NIRP "Bets" Hit Record High

Despite a modest bounce today, the collapse in stock prices and bond yields since the 'non-event' "won't affect our market" Brexit vote has sent market-implied rate-hike odds careening lower. In fact, there is now a 0% chance of a rate hike to November and a 23% chance of rate-cut in September with December (post-election) rate-hike odds just 7.7%!!! Fed Credibility is official dead...

Satyajit Das: What Does Brexit Really Signify?

History may well record that little changed as a result of Brexit after the long tortured process of negotiation of the terms of withdrawal and arrangements regarding trade and other matters with the EU. But, if the deep seated economic and social divisions within Britain or other societies cannot be dealt with peacefully and through existing processes, the risk is that it will unleash the furies of nationalism and isolationism in unknown ways and with unpredictable results.

Live Feed From London Anti-Brexit Protest

It was bound to happen: just days after a shocking Brexit outcome which was arguably lost due to the low participation of the pro-Remain, youth vote today the same youth, unhappy with the outcome it could have prevented, has congregated on London's Trafalgar square which is the venue of the first, so far completely peaceful, anti-Brexit protest to hit London.

Odey Makes 21% In Past 2 Days, Nearly Wiping Out Abysmal Start To The Year

After a truly hair-raising first half to 2016, if not so much for billionaire Odey as for his LPs, he appears to have finally hit a home run with Brexit. According to  Bloomberg, Odey's "winning run continued with the flagship Fund up 21% in just two days." The days in question: Friday and Monday, when the market's reaction to the Brexit vote was nothing short of surreal

Why Friday’s “Bloodbath” Is a Taste of What’s to Come

by Doug Casey, Casey Research:
Stocks around the world are in free fall.
As you may have heard, global stock markets crashed on Friday. Here are the final numbers from the massive selloff:
The S&P 500 closed the day down 3.6%. It was the worst day for U.S. stocks since August.
The Nikkei 225, Japan’s version of the S&P 500, plunged 7.9%. It was worst day for Japanese stocks since 2011.
The STOXX Europe 600, which tracks 600 of Europe’s biggest stocks, plummeted 7.0%. It was the worst day for European stocks since the 2008 financial crisis.
Great Britain’s FTSE 100 Index plunged 3.1%.
When the dust settled, $2.08 trillion had vanished from the global stock market.
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BREXIT, THE ULTIMATE MONEY PRINTING SCAPEGOAT, IS ALREADY BEING CAPITALIZED ON!

by Andy Hoffman, Miles Franklin:
Consider that “Sir” Alan Greenspan, the undisputed architect of what David Stockman deems the Bubble Finance era, played a bigger role in initiating the flood of fiat currency drowning the world than all other Central bankers combined.  Sure, Helicopter Ben, Whirlybird Janet, Mario Draghi, Shinzo Abe and others compounded his failures; but only because, by nature, Ponzi schemes must grow larger to survive.
Also consider that Greenspan was a well known “goldbug” prior to selling his soul for fiat-currency-worshipping-power; citing Ayn Rand, author of the ultimate anti-statist, anti fiat currency novel,Atlas Shrugged, as his mentor.  In fact, in 1966, 21 years before he became Fed Chairman, he wrote perhaps the most fiat-damning treatise ever, “gold and economic freedom”; in which, he immortally wrote, “in the absence of the gold standard, there is no way to protect savings from confiscation through inflation.”
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Brace For The Storm, Economic Collapse, War On The Horizon

from X22Report:

Episode 1008b

European Banks Get Crushed, Worst 2-Day Plunge Ever, Italian Banks to Get Taxpayer Bailout, Contagion Hits US Banks

by Wolf Richter, Wolf Street:
European banking crisis jumps to the next level.
European bank stocks just experienced their worst two-day plunge ever in the post-Brexit fallout that rained down on the already blooming European banking crisis.
Healthy big banks would get over Brexit and the political turmoil it is spawning, particularly non-UK banks. But there are no healthy big banks in Europe. And non-UK banks are crashing just as hard, and some harder. This is about a banking crisis morphing into a financial crisis.
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First Brexit fallout: Turkey Abruptly Ends EU Pandering and Mends Fences with Russia and Israel

from Rogue Money:
Immediately following the historic referendum vote in Britain on June 24, emotional and knee jerk reactions exploded all over Europe as political activists and parties in up to eight countries began publicly demanding their own referendums to decide on whether to also remain within the EU sphere.
And while these reactions will either burn out or boil over in the coming weeks, one nation which had been seeking assistance from the EU and from NATO over the past six months in support of their political agendas has suddenly decided to cancel their application with the European Union, and over the weekend attempted to mend fences with both a short and long term adversary.
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Paul Craig Roberts Post Brexit EU Referendum Interview

from Jason Liosatos Outside The Box:

My talk with Dr Paul Craig Roberts about the current, and upcoming repercussions and possibilities after the Brexit and EU Referendum. Paul quotes some of the arrogance and audacity of the patronizing EU, and warns and reminds us not to hesitate, but to escape its entrapment as soon as possible before it is too late….

Thoughts on Brexit from Someone Who Spends Time in the “Forgotten Places”

by Michael Krieger, Liberty Blitzkrieg:
The Brexit vote in itself proves the point. Sure, David Cameron has announced his intention to resign, but where are the the resignations of EU technocrats? If anyone was discredited by this vote it’s the leadership of the EU, but they aren’t going anywhere. Why? Because they’re experts, and experts stay around forever. Like Larry Summers, bank executives and neocon war mongers, these people never suffer the consequences of their actions and thus remain free to run around endlessly destroying the world from their unassailable perches of power.
That’s the point. Being an expert does not make you infallible. Your credentials should certainly offer you a seat at the policy making table, but from that moment on you had better demonstrate performance. It’s the same way with a corporate job. The resume gets you in the door, but your production day in and day out keeps you in the seat.
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Top 11 ‘Conspiracy Theories’ We all Found Out Were TRUE and Hugely Destructive to Our Health and Safety

by S. D. Wells, Natural News:
It’s funny how so many people try to discredit natural health enthusiasts when they hear about food or medicine they’ve been consuming or taking for years – mainly because they just don’t want to find out that they’ve been “doing it wrong” for so long. Then, when undeniable proof comes along, they still make a last ditch attempt to deny the truth; however, slowly but surely, they start asking questions, and verifying answers for themselves, and then it happens: Some bad health “event” comes along, and they decide to try to “get healthy” and turn over a “new leaf.” In that process, they must face themselves in the mirror and ask the all important question: “Have I been wrong all these years?”
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The BREXIT Vote Will Lead to the Isolation of America and Defeat In World War III

by Dave Hodges, The Common Sense Show:
Putin is the grandmaster of the chessboard. He has positioned himself to elevate Russia over America in politics, economics and military prowess.
The spin-off consequences of the BREXIT vote will lead to the isolation of America from its key allies. As this article postulates, BREXIT has started a chain of events which will make it impossible for America to win World War III and even without war, the American economy will be pushed over the cliff.
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Bilderberg Documents Leaked! – Iraq War Plan Exposed!

from Press For Truth:

An incredible treasure trove of documents has been leaked online detailing a number of Bilderberg conferences dating all the way back to the 50’s. In this video Dan Dicks of Press For Truth shows how the Bilderberg group is clearly steering society in the direction they choose with the ability to effect the outcome of nearly any given situation by use of their sphere of influence.

Brexit’s Big Loser? Japan

by John Rubino, Dollar Collapse:
One of the first results of Britain’s voting to leave the European Union was a sharply lower pound. Which means the UK is now winning the currency war. Henceforth its exports will be cheaper around the world, enabling its major companies to sell more stuff, make more money and hire more people. Inflation will pop, lessening the burden of government and consumer debts, and — other things being equal — growth will be faster.
But since in a fiat currency world foreign exchange fluctuation is a zero-sum game, for Britain to win a currency war battle means someone else has to lose one. And this time around the really big loser is Japan. Here’s the yen versus the pound over the past year:
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Why Last Friday’s “Bloodbath” Is a Taste of What’s to Come

by Doug Casey, Casey Research:
Stocks around the world are in free fall. As you may have heard, global stock markets crashed on Friday. Here are the final numbers from the massive selloff:
The S&P 500 closed the day down 3.6%. It was the worst day for U.S. stocks since August.
The Nikkei 225, Japan’s version of the S&P 500, plunged 7.9%. It was worst day for Japanese stocks since 2011.
The STOXX Europe 600, which tracks 600 of Europe’s biggest stocks, plummeted 7.0%. It was the worst day for European stocks since the 2008 financial crisis.
Read More

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