Politics

Back in 2015, at the height of Angela Merkel's "open door" admission policy which in addition to granting German entry to over 1 million refugees, many of whom turned out to be radical jihadists and sent her approval rating crashing to the lowest in her career, the German chancellor realized that the great migration wave from the middle east into Central Europe, originally meant to reinvigorate Europe's aging demographics (and prompted Deutsche Bank to even boost its German GDP forecast), maybe was not such a great idea, and was just not worth the risks and trade offs.

Who Gets to Push the Nuclear Button?

Paul Craig Roberts

Despite Jeff Sessions’ surprising insistence during his testimony before the House Judiciary Committee earlier this week that there’s “no factual basis” to appoint a special counsel to investigate actions by Clinton and former FBI Director James Comey, a plurality of voters believe special prosecutors should be investigating both the Clinton and Trump campaigns, according to a recent study that was shared with the Hill. 

Gold continues to shine in the post-Saudi-coup world....

And the precious metal just broke above its 50-day moving average, after bouncing off its 200-day on Tuesday.

This is gold's best day in 3 months...

Gold is gaining as the dollar index slumps to near 1-month lows...

Of course, it's USDJPY that really matters (and it just broke below 112.00)

To much fanfare, mostly out of president Trump, on Thursday the House passed their version of the tax bill 227-205 along party lines, with 13 Republicans opposing. The passage of the House bill was met with muted market reaction. The Senate version of the tax reform is currently going through the Senate Finance Committee for additional amendments and should be ready for a full floor debate in a few weeks.