United States

New legislation is being introduced in the US House of Representatives which, if passed, will create a real life “Ministry of Truth” as depicted in George Orwell’s 1984 novel.  The H.R. 5181 bill aims to create a department responsible for creating U.S. propaganda in order to counter efforts by Russia and China’s spread of disinformation. H.R. 5181, or the Countering Information Warfare Act of 2016, is sponsored by Representative Adam Kinzinger (R-IL) who co-authored the bill with Congressman Ted Lieu (D-CA).

This is grim:

Authored by The Saker,

US Special Forces have been filmed fighting ISIS on the front-lines in Syria, despite assurances from the Pentagon that soldiers were not engaging in the conflict.  The fighters were seen alongside the Kurdish militia in northern Syria who are attempting to drive ISIS out of the city of Raqqa. RT.com reports: A photographer for Agence France-Presse (AFP) took pictures of the American special operatives in what The Washington Post identified as the village of Fatisah, roughly 30 miles (48 km) north of Raqqa.

While still relatively low, USA sovereign CDS spreads have risen to 8-month highs, surging off early March lows. The reasons are likely numerous though we suggest the 4 surges in the last 3 months appear to line up with notable 'events'...

While correlation does not imply causation, it does waggle its eyebrows suggestively and gesture furtively while mouthing "look over here."

Note: Sovereign CDS represent a combination both default and devaluation risks.