Europe

British Airways canceled all flights from London's Heathrow and Getwick airports scheduled before 6 pm, after a global computer system outage caused massive delays and left planes stuck on runways. Earlier on Saturday, there were reports of BA staff telling disgruntled passengers trying to get away for the Bank Holiday weekend that the company was under cyber attack but this was denied by the airline.

#Breaking British Airways apologises to customers who are facing delays "following an IT outage"

Authored by Robert Gore via Straight Line Logic blog,

The best strategy for dealing with crazies is to keep your distance.

You try to ignore the ravings of the paranoid lunatic on a street corner, but if he’s waving a gun, you can’t.  He may kill himself, but he may kill you. Protecting yourself is your first consideration. You want to get as far as possible from him.

As SocGen's Kit Juckes noted earlier in the week, "The ECB, not The Fed, is in the driving seat," and nowhere is that more optically obvious than in the massive divergence between US-EU bond risk premia and US-EU inflation surprises.

S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.

Submitted by Jeff Thomas via SWPCayman.com,

"If your gold is outside the US, it gives you another degree of insulation should the United States decide that you shouldn’t own it — it's not a reportable asset." - Doug Casey, May 2017