United States

I am convinced that the most advantageous situation and the best possible laws cannot maintain a constitution in spite of the manners of a country; whilst the latter may turn to some advantage the most unfavorable positions and the worst laws. The importance of manners is a common truth to which study and experience incessantly direct our attention. It may be regarded as a central point in the range of observation, and the common termination of all my inquiries.

Via EvergreenGavekal.com,

“The areas of consensus shift unbelievably fast; the bubbles of certainty are constantly exploding.”

– REM KOOLHAS, RENOWNED DUTCH ARCHITECT AND HARVARD UNIVERSITY PROFESSOR

SUMMARY

Those algos who scrambled to paint yesterday's closing tape with that last second VIX slam sending the S&P back over 2,000, forgot one thing - the same thing that China also ignored - central bankers can not print trade, something we have repeated since 2011.

As noted yesterday morning, "Goldman does it again" when just hours after Goldman said the "bearish cash for iron ore was intact," the commodity recorded its biggest surge in history crushing anyone short, and soaring 20% across the globe.

Submitted by Jeff Thomas via InternationalMan.com,

Recently, Russian Foreign Minister Sergey Lavrov held a press conference with about 150 journalists from around the world, including representatives of the western media.