United States

After being effectively shut out from global financial markets – a situation that was made more precarious by US sanctions prohibiting purchases of Venezuelan debt (unless you’re buying them off Goldman Sachs, should the bank’s asset-management arm desire to liquidate its $3 billion “hunger bond” position) – Venezuela is drawing ever-nearer to what the Financial Times describes as potentially the “messiest debt restructuring in history.”

Authored by Nick Giambruno via InternationalMan.com,

Doug Casey, Jeff Thomas, and Nick Giambruno recently discussed a critical topic - the rise of a police state in the former “free” world.

Nick Giambruno: In my experience, the US has some of the most aggressive police in the world. I first noticed this when I started traveling many years ago.

I’ve also noticed that law-abiding citizens are more likely to encounter the police in the US. Both of these trends are accelerating.

Amid hope for reinvigorated auto production (after Hurricane Harvey's destruction) and yesterday's escalation in US-Russia tensions (Russia being the world's largest producer), spot Palladium is spiking today, hitting its highest since record highs in January 2001.

While the entire gamut of industrial and precious metals have been rising recently (the latter on the back of Chinese demand hype), Palladium prices exploded today out of nowhere (biggest jump in 7 months).

Pushing the precious metal to its highest in 16 years...

The unprecedented destruction wrought by Hurricane Harvey will impact the US economy in ways may not be immediately apparent. Until recently, coverage of the storm's impact has focused on property damage and the impact on the energy industry. But in a story published Friday, Bloomberg explains the devastating impact the storm has had on Texas’s chemicals industry, which is already causing supply-chain headaches for American manufacturers who're struggling to source the chemicals required to produce plastics and other components used in everything from milk jugs to car parts.

As tensions between the US, its regional allies and North Korea continue ebb and flow, depending on what and where Kim lobs the next missile and whether Kelly can block Trump from tweeting for the next few hours, Russian President Vladimir Putin has decided to personally weigh in on the conflict for the first time since the UN passed new sanctions against the North earlier this month.