Putin Drives Dump Truck Across $3.6 Billion Bridge He Built To Crimea

Russian President Vladimir Putin unveiled the auto section of a $3.6 billion (223 billion rouble) road-and-rail bridge over the Kersch Strait on Tuesday linking Russia to the Crimean peninsula – much to the consternation of Ukrainian officials who said the bridge showed “disregard for international law.”  The bridge will…

Novartis Explains Why It Covertly Paid Trump Lawyer Michael Cohen $1.2 Million

As Stormy Daniels’ lawyer, Michael Avenatti, unveiled last night, in addition to a $500K payment from Russian oligarch Viktor Vekselberg made to an LLC controlled by Trump’s attorney and fixer, Michael Cohen also received other payments from US telecom giant AT&T (which is currently embroiled…

Venezuela’s Gold Liquidation Accelerates; Will Be Out Of Gold In One Year

On Friday, Turkey unveiled its latest unorthodox financial surprise, when a local newspaper reported that Ankara will repatriate all of its gold held at the NY Fed. The stated reason: an attempt to circumvent the dollar. “Why do we make all loans in dollars? Let’s…

OPEC Oil Production Slides As Venezuela Output Tumbles

OPEC’s April monthly report was released this morning and unveiled more of the same: expectations of rising global demand (which will soon be dented as global growth fizzles, impacting the need for commodities, especially in China and EMs), coupled with declining production by OPEC producers…

China Slaps Tariffs On US Imports Including Pork, Nuts And Wine

As previewed one week ago, on Sunday China unveiled new retaliatory duties on US food imports including pork, nuts, wine and fruits of between 15% and 25% in response to Trump administration’s Section 232 tariffs (not to be confused with the $60BN in Section 301…

Russia’s Hypersonic Missiles Didn’t Surprise America But They Awed The World

Authored by Andrew Korybko via Oriental Review, President Putin unveiled Russia’s hypersonic response to the US’ so-called “missile defense shield” and restored the strategic nuclear balance between the two Great Powers. This dramatic announcement came during his annual State of the Nation address which this time included…

Trump: “You Would Be So Bored” If I Acted “Presidential”; Unveils 2020 Slogan

President Trump slammed critics, talked up tariffs, unveiled his 2020 slogan, brought up executing drug dealers (again) and noted how “bored” people would be if he acted like a regular old president at a Saturday night rally for Republican Rick Saccone in Moon Township, PA….

EURUSD Gives Up Draghi Gains On “Protectionism” Concerns, Inflation Forecast Cut

ECB has unveiled its growth and inflation forecasts (modestly raising 2018 growth while cutting 2019 inflation expectations): ECB GDP Projections: 2018: 2.4% (Prev. 2.3%), 2019: 1.9% (Prev. 1.9%), 2020: 1.7% (Prev. 1.7%) ECB Inflation Projections: 2018: 1.4% (Prev. 1.4%), 2019: 1.4% (Prev. 1.5%), 2020: 1.7%…

As PyeongChang Olympics Close, Countdown to Beijing Begins

Expand Emblem for the Beijing 2022 Olympic Winter Games is unveiled during a launch ceremony in Beijing, China December 15, 2017. © 2017 Reuters On Sunday, fireworks will mark the close of the Winter Games in South Korea, and PyeongChang will hand the next Winter…

Democrats Want $300 Million To “Counter Russian Operatives” Ahead Of 2018 Midterms

It’s been barely a week since Special Counsel Robert Mueller unveiled indictments of 13 Russians and 3 Russian entities – including one close associate of Russian President Vladimir Putin – and already Democrats are asking Congress for exorbitant sums of money to stop Russia’s army…