Europe

Via The Daily Bell

Banks are supposed to be the epitome of secure. You can put your money in their vaults, and forget about it. Don’t worry everything will be fine. And even if the bank goes under, the federal government insures deposits of up to $250,000.

But that won’t help if the government is the thief. The United States government can freeze your bank accounts for basically no reason, without due process. Then it is up to you to prove your innocence.

One month after the US intercepted on several occasions Russian tactical bombers flying in proximity to Alaska, overnight Russia returned the favor when a Russian Su-27 fighter jet was scrambled to intercept a US B-52 strategic bomber over the Baltic Sea as the American warplane was flying along the Russian border, the Russian Defense Ministry reported.

With traders realizing that the "Thursday Turmoil Trifecta" looms, world stocks dropped and safe-haven assets rose as investors focused on the growing tension in the Middle East, while caution spread across markets in a week full of risk events including James Comey’s congressional testimony to the ECB’s policy meeting and Britain’s increasingly uncertain election, all in the span of 24 hours. As a result, European and Asian stocks as well as S&P futures all fell, while gold, yen and Treasuries gained.

From "Blain's Morning Porridge" by Bill Blain of Mint Partners

“You are about to embark on the great crusade toward which we have striven these many months.”

I find myself in something of a quandary this soggy morning. Wracked with nagging doubt. Why? Nothing to do with Theresa May effectively throwing the UK Election, that auto-loans are in serious trouble, or worries Qatar might escalate into something quite unpleasant (and I don't just mean for Barclays..).. These things are all noise, the daily fun and games.