Melania Trump Accused Of Plagiarising Convention Speech From Michelle Obama

The highlight of the first day of the Republican convention was the speech by Donald Trump's wife Melania, who was seeking to make a memorable impression on the world, and may have done just that... only not in the way she had envisioned.  Because in her potentially breakthrough moment, Melania appears to have lifted some of her first night convention speech from a surprising source: a similar speech by none other than Michelle Obama.

Trump Campaign Responds To "Absurd" Melania Plagiarism Accusations

“Certainly there’s no feeling on her part that she did it. What she did was use words that were common words. To think that she would do something like that, knowing how scrutinized her speech was going to be last night is just really absurd.”

 

"Whatever It Takes" Has Failed - European Economic Confidence Crashes To 4-Year Lows

If the premise of central-banking largesse is to maintain (or inspire) economic confidence, then Mario Draghi's smoke and mirrors have officially failed. This morning's ZEW data on German and European Consumer confidence is a disaster. Both the current situation and expectations for Germany tumbled but most worryingly, the 'hope' for European economic growth has crashed to its lowest since Draghi promised to do "whatever it takes" in the summer of 2012.

 

Erdogan Goes Too Far, Market Warns As Lira, Turkish ETF Suddenly Tumble

While so far the Western diplomatic response to Erdogan's unprecedented putsch has been mostly stunned silence (with just the U.N. human rights chief expressing alarm about the mass suspension or removals of judges so far), the market is starting to get concerned, and moments ago the Turkish Lira suddenly tumbled, sliding below Friday's closing level, while at the same time the MSCI Turkish ETF plunged as well.

Sheriff David Clarke DESTROYS CNN’s Don Lemon Over Black Lives Matter

from CNN via TheDailyTrump:

BofA Finds Something Odd: With The S&P At Record Highs, Traders Have Never Been More Nervous

A strange paradox emerges when flipping though the latest BofA Fund Managers' Survey: with the S&P trading at all time highs, investor buying of protection against sharp decline in stock market at record high, something which would not be happening if the market was "normal" and if traders expected a continuation of the recent upward trend in stocks.

"The Case For Donald Trump Is Simple"

The alternative is President Hillary Clinton... Fair enough to argue that Mr. Trump represents a huge risk. But honesty requires that this risk be weighed against a clear-eyed look at the certainties a Hillary Clinton administration would bring.

Turkey Latest: Tens Of Thousands Purged; "Gulenist Media" Shut Down; Pilots Behind Russian Jet Downing Arrested

Turkish president Erdogan continues his witch hunt purge for the third day, and as of this morning the office of the Turkish prime minister removed from duty 257 staff suspected of being linked to the failed coup Reuters cites a source in the PM’s team as saying Tuesday. The number of those suspended from duty in the PM’s office has reached 10 percent of the estimated 2,600 total personnel of Prime Minister Binali Yildirim’s staff.

America Has Become A "Parasitocracy"

Everyone wants to get something for nothing. Everyone wants to be a rentier. And every society has them. But a rentier is a parasite. And the more of them you have, the weaker the economy becomes – until it eventually succumbs to revolution, depression, war, or hyperinflation.

Housing Starts Decline Year-Over-Year Amid Downward Revisions

Thanks to generous downward revisions, June's Housing Starts 'jump' of 4.8% MoM suggests everything is awesome. However, year-over-year Starts dropped 0.2%, the second annual drop in 3 months. Both single- and multi-family starts rose MoM but rental unit starts fell notably YoY (-22% versus a 13% rise for single-family). Overall permits rose 1.5% MoM (slightly better than expected) but multi-family permits rose more than single-family permits (+2.5% MoM vs +1.0% MoM) as Rental Nation USA continues to gather pace.

ISIS Flag Found In German Train Axe Attacker's Bedroom

Just hours after a 17-year-old Afghan refugee attacked passengers with an ax and knife on a train in Germany on Monday night, AP reports ISIS has claimed responsibility. This is likely not a surprise to many as a witness said that the attacker was shouting 'Allahu akbar' during the attack and Joachim Herrmann, Bavaria's interior minister, told ZDF Television "during a search of his room, a hand-painted IS flag was found."

This 'Market' Discounts Nothing Except Monetary Cocaine

In short, the market is not trading on a rebound in GDP, revenue growth or a breakout of already elevated profit margins. It’s just high on one more dose of monetary cocaine that in short order will prove to have been not even that.

Goldman Beats On Rebound In FICC, Prop Trading As Headcount, Comp Slashed

After last quarter's brutal results, which saw the worst revenue for Goldman Sachs since Q4 2011, the question about Goldman's Q2 earnings report was not if it would beat but by how much. Moments ago we got the answer when the company reported Q2 EPS of $3.72, handily beating consensus estimates of $2.68, but down 21% from last year's $4.75 (ex-charges) EPS. The reason for the rebound was stronger top-line growth which at $7.93 billion, was the best print in one year, if still down 12.5% from a year ago.

Piling On To The "Surreal" Response To Turkish Turmoil: Here Comes The Central Bank

In less than half an hour, the Turkish central bank will steal the public spotlight, if only very briefly, from Erdogan when it announces whether it will cut rates by 50 bps, 25 bps, (or - less likely - it won't cut at all). But in light of the recent stunning transformation in the country's political landscape, does this decision really matter? According to the market yes; according to Bloomberg's Richard Breslow, it is simply one more indication of how surreal the response to the Turkish turmoil has become.

US Futures Dip, European Stocks Slide After EU Court Slams Italian Bank Bailout Plans

After a head-scratching S&P500 rally - which not even Goldman has been able to justify - pushed stocks to new all time highs with seemingly daily record highs regardless of fundamentals or geopolitical troubles, overnight US equity futures dipped modestly, tracking weak European stocks as demand for safe haven assets including U.S. Treasuries and gold rises. Asian stocks outside Japan fall. Crude oil trades near $45 a barrel.

Hans-Hermann Hoppe: "Put Your Hope In Radical Decentralization"

"The EU is the first step on the way toward the creation of a European Super-State, and ultimately of a one-world government, dominated by the USA and its central bank, the FED... Don’t put your trust in democracy, but neither should you trust in a dictatorship. Rather, put your hope into radical political decentralization, not just in India and China, but everywhere."

Iron Ore Rally "Getting Carried Away Again" As China Inventories Soar To 20-Month Highs

Following the crash after March/April's 'mania', Iron ore prices have resurged to 2-month highs on the heels of stimulus-hype and rampant speculation. However, this echo-bubble appears to be bursting as Macquarie sounds the alarm that prices are "getting carried away again" with fundamental support entirely lacking as China inventories soar 30% year-over-year to 20-month highs.

Europe's Impossible Refugee Math: Brexit Was Mathematical Certainty Eventually

Politicians are and their pet goals are far more dangerous than referendums. Chancellor Merkel and her inane, mathematically impossible, open arms welcome of refugees was the #1 Reason UK Voted Leave the EU. Let’s not blame the voters or the referendum itself.

Axe-Wielding Afgan Refugee Shot Dead After Slashing 14 People On German Train Screaming "Allahu Akbar"

More than 20 people in Germany have been injured after a man with an axe went on the rampage on a train, according to German media. The Express reports, the man then went on the run, with a huge police force, including a helicopter, in pursuit, and has been shot.

There Will Be No Second American Revolution: The Futility Of An Armed Revolt

“A standing military force, with an overgrown Executive will not long be safe companions to liberty.” - James Madison. America is a ticking time bomb. All that remains to be seen is who - or what - will set fire to the fuse.

Did "China" Just Buy The Most Important Company In The World?

The Chinese government has made a domestic semiconductor industry a major strategic goal.  Even going so far as to earmark $10B for intellectual property development. The fastest path is acquisition, and ARMH embodies the future.  For China that presents two problems: price (ARMH was $19B last week) and politics (China buying the crown jewels of the internet touches some nerves in the Western world). Today Softbank announced an offer to buy ARM Holdings.

Top Turkish Official In Charge Of Campaign Against ISIS Found Dead, Shot In The Neck

"The top counter-terrorism official responsible for Turkey’s campaign against Islamic State did go to a “meeting” at the presidential palace in Ankara. He was later found with his hands tied behind his back, shot in the neck, according to a senior official."

More Evidence The Fed Is Losing Control Of Gold And Silver

by Dave Kranzler, Investment Research Dynamics:
“Chinese miners are competing to secure gold assets, because there’s a consensus that domestic demand will far outstrip local supply due to fast-growing investment demand,” Wang Rong, an analyst at Guotai Junan Futures Co. said – in response to the news that the Silk Road Fund is spending $2 billion to buy a gold mine from Glencore
I am highly confident of two facts that will be difficult to prove with certainty until after the event: 1) the eastern hemisphere is accumulating more physical gold and silver than can be possibly tracked by western propaganda sources; 2) the western Central Banks are losing their ability to control the price of gold and silver with paper derivatives (Comex futures, LBMA forwards, OTC derivatives, lease agreements, hypothecation agreements).
Read More

Manipulative Idiocy of New Gingrich’s Attempt to Demonize Islam and Make War

from The Daily Bell:
Newt Gingrich Argues U.S. Should Conduct Shariah Test … Newt Gingrich, a former speaker of the House and a finalist to become Donald J. Trump’s running mate, said in an interview on Fox News that Muslims in the United States should be subject to a test to see if they support Shariah law. “If they believe in Shariah,” Mr. Gingrich said Thursday night, referring to the legal code of Islam based on the Quran, “they should be deported.” – New York Times
Has Newt Gingrich actually talked to a Muslim?
Shariah law, as was explained to us long ago, is purposefully harsh to ensure that believers are warned not to transgress. Its intention is moral, not punitive.
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GLD/SLV Ponzi Scheme – GET Physical Gold/Silver

by Dave Kranzler, Investment Research Dynamics:
A lot of investors have invested in GLD and SLV under the mistaken assumption that they are investing in “gold.”  In the latest episode of the Shadow of Truth, we discuss why GLD/SLV are Ponzi schemes created as a mechanism to control the price of gold/silver.  We also report the latest on China’s massive investment in the new Silk Road and why it will change the world – The Daily Coin published and extensive article on this topic:  Silk Road. Investment Research Dynamics explains why the Central Banks are losing control of their precious metals price control scheme:   LINK.
Read More @ InvestmentResearchDynamics.com

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