Jul. 17, 2017

BLOOMBERG    

President Donald Trump is scheduled to preside over the commissioning this week of the Navy’s newest $12.9 billion aircraft carrier, the Gerald R. Ford, even though it won’t be ready for its first combat deployment for at least four years, according to congressional auditors.

Almost 7.2 million Venezuelans lined up throughout the country and abroad for a symbolic vote of dissent against President Nicolas Maduro’s plan to rewrite the constitution, a turnout that dwarfed expectations.

Qatar’s sovereign wealth fund is pressing ahead with plans to invest in the U.S. to show that the political crisis with Saudi Arabia and its allies hasn’t impacted its ability to strike global deals, according to four people with knowledge of the matter.

The U.A.E. was behind the hacking of Qatari websites in May to post incendiary false quotes, an incident that ultimately led to the Saudi-led boycott of Qatar, the Washington Post reported, citing U.S. intelligence officials it didn’t name.

French President Emmanuel Macron won support from the International Monetary Fund for his strategy of labor market reform and deficit cutting.

China freed Xu Zhiyong, 44, the most prominent dissident jailed under President Xi Jinping, drawing further attention to the country’s human-rights record amid an international outcry over the death of Nobel laureate Liu Xiaobo.

Its classic subprime: hasty loans, rapid defaults, and, at times, outright fraud. Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide.

Bitcoin briefly fell below $2,000 for the first time in two months amid anxiety its dominant status is under threat.

China’s economy maintained its momentum last quarter, as global trade and domestic demand spurred a pickup at the nation’s factories. Gross domestic product increased 6.9 percent in the second quarter from a year earlier, compared with a 6.8 percent median estimate in a Bloomberg survey.

AP Top Stories     

Muslims heeded calls Monday not to enter a Jerusalem holy site and protested outside after Israeli authorities installed metal detectors at entrances to the ultra-sensitive compound following an attack that killed two policemen.

Waving large red Turkish flags, tens of thousands joined a national unity march in Istanbul on Saturday, converging at the iconic July 15 Martyrs’ Bridge to mark the anniversary of the failed military coup attempt that 250 people died resisting.

A Chinese American accused of "infiltration" in Iran has been sentenced to 10 years in prison, local media reported on Sunday.

Hundreds of Muslim worshippers visited a Jerusalem holy site Sunday after Israel reopened the compound following a rare closure in response to a deadly shooting last week that raised concerns about wider unrest.

On Wednesday, in an extraordinarily ambitious effort to make Hawaii's streets safer, the Honolulu City Council passed a bill that prohibits pedestrians from staring down at their cell phones while crossing the street.

Bolstered by its third bailout program and positive reports from the European Union, Greece is planning an imminent test of the bond market, local media said this weekend.

Ukrainian President Petro Poroshenko is calling for justice for 298 people who were killed when a Malaysian airline was shot down three years ago over separatist-controlled eastern Ukraine. The Amsterdam-to-Kuala Lumpur Flight MH17 was shot down on July 17, 2014, by a missile. International investigators have concluded that the Buk missile was fired from Russia-backed rebel-controlled territory by a mobile launcher trucked in from Russia and hastily returned. Moscow rejects these findings.

BBC     

The United Arab Emirates has denied it was behind the alleged hacking of Qatar's state news agency in May.

A Jordanian soldier has been sentenced to life in prison with hard labour for killing three US military trainers last year.

The Australian military is to be given broad new powers to respond to domestic terrorist attacks. The new measures would mean the Australian Defense Force (ADF) could be called in sooner to help police deal with threats.

Only three people have been rescued so far after a Cameroonian army vessel carrying 37 people capsized off the country's south-west coast. Soldiers from an elite military unit were on board when the boat sunk as it was travelling to Bakassi on Sunday.

South Korea has proposed holding military talks with the North, after weeks of heightened tension following Pyongyang's long-range missile test. If they were to go ahead, they would be the first high-level talks since 2015.

Russia is pressing demands that the US give it access to two diplomatic compounds seized in the US last year. Kremlin spokesman Dmitry Peskov said it was unacceptable to set preconditions for returning the properties.

WND      

Klaus Eberwein, a former Haitian government official who was expected to testify against alleged Clinton Foundation corruption and malpractice next week, has been found dead in Miami via gunshot wound to the head. The death was ruled a suicide.

While law-enforcement authorities in Ohio and at the Drug Enforcement Agency announced this week the discovery of more than $1 million of marijuana hidden within bogus spare tires of new cars transported by rail, a WND investigation suggests the incident may be just the tip of the iceberg.

Add new comment

Plain text

CHECK OUT THE ENTIRE MCALVANY NETWORK

McAlvany Weekly Commentary provides investors with valuable monetary, economic, geo-political and financial information that cannot be found on Wall Street. Your host David McAlvany presents a solid strategy of wealth preservation for your financial and retirement assets while living in an unstable economy.

Through its client focused, customized approach, MWM is committed to providing independent, well-researched, objective advice, and investment professionalism. At MWM, our client commitment is to preserve capital, manage risk, and grow your assets in an ever-changing global environment.

At International Collectors Associates (ICA), we specialize in the sale of bullion, semi-rare U.S. and European gold coins and secure offshore storage in Switzerland for your precious metals. Our highly trained and experienced advisors strive to help you in customizing solid strategies of wealth preservation for your financial and retirement assets.

McAlvany Financial Group

The McAlvany Financial Group has a contrarian, in-depth approach to its analysis, allowing the company to avoid decisions based on emotion, and thus combine maximum risk mitigation with consistent real growth for its clients’ investments. Integrity, attentiveness, and longevity have characterized the company’s client relationships since 1972.