Europe

This morning, BoE Governor Mark Carney discussed the risks of a hard Brexit during his testimony to the UK Parliamentary Treasury Committee. There was renewed weakness in Sterling during his testimony.

Ironically, given the fall in Sterling, Carney explained why Europe’s financial sector is more at risk than the UK from a “hard” or “no-deal” Brexit. We wonder whether Juncker and Barnier appreciate the threat that a “no-deal” Brexit poses for the EU’s already fragile financial system?

Authored by Finian Cunningham via The Strategic Culture Foundation,

Among the many self-flattering epithets it gives itself, the US has always claimed to be the “leader of the free world”. It’s a rather patronizing notion that America views itself as a selfless protector and benefactor of its European allies and others. This fairytale depiction of the world is coming to a rude awakening as American power buffets against the reality of a multi-polar world.

In July, Visa officially entered the global 'war on cash', adding to a long list of academics, elites, and bankers urging the removal of one of the last freedoms 'for the good of the rest of us'. However, if Alderman Edward Burke has his way, that 'war on cash' will end in Chicago after he submitted an ordinance at last week's City Council meeting to ban businesses from banning cash.

Hungarian-born billionaire investor George Soros is pledging $18 billion - the bulk of his $26 billion fortune – to his Open Society Foundation, completing the integration of his family office, Soros Fund Management, and the charitable organization that serves as a front for Soros’s globalist agenda.

A v-shaped recovery in WTI/RBOB today (amid a dollar reversal at the EU close and chatter about a big crude draw) led prices higher into the API print (but after last week's 100% incorrect API vs DOE reversal, who knows what it means). And the rumors were true - a huge crude draw (biggest in 2 months) and the first build at Cushing in 8 weeks. However WTI prices didn't move much as product builds weighed on RBOB prices.

API