Dec 16

- Western Banks Cut Off Liquidity To Russian Entities (ZeroHedge, Dec 16, 2014):

As Zero Hedge first reported today, shortly before noon one (and subsequently more) FX brokers advised clients that any existing Ruble positions would be forcibly closed out because “western banks have stopped pricing USDRUB“, over concerns of Russian capital controls. Ironically, it was this forced liquidation of mostly short RUB positions that pushed the RUB higher, which in turn had a briefly favorably impact on energy commodities and risk assets, as the market had by then perceived the Ruble selloff as excessive. Of course, since nothing had actually changed aside from a temporary market technical, the selloff promptly resumed into the close of trading once the market finally understood what we had explained hours previously.

And unfortunately for the bulls, various falling knife-catchers, and those who hope the Russian situation will stabilize imminently with or without capital controls, it appears things in Russia are about to get a whole lot worse because as the WSJ reports, the next driver of the Russian crisis is likely to come from within the banking system itself because global banks are curtailing the flow of cash to Russian entities, a response to the ruble’s sharpest selloff since the 1998 financial crisis.”

Presenting Russia’s banks: now cut off from the outside world as the second cold war goes nuclear, at least when it comes to the financial system:
Continue reading »

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Dec 16

- Ruble plummets losing more than 20% in a day, hitting new dollar and euro lows (RT, Dec 16, 2014):

No end seems to be in sight for the plight of the Russian ruble, which slumped to new record lows against hard currencies Tuesday. The EUR traded at 93.5 against the ruble, and the USD at 75.

The Russian stock market also went haywire, dropping more than 15 percent as of 2:30pm Moscow time, after it dropped 11 percent the day before. Sberbank, the country’s largest lender, lost 17.77 percent, and VTB, the second biggest bank, fell by 14.29 percent. State-owned oil and gas companies Gazprom, Rosneft, and Surgut also saw shares plummet.

The emergency interest rate hike to 17 percent has failed to halt the ruble’s landslide tumble against hard currencies. The rate increase only calmed the ruble temporarily. Continue reading »

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Dec 15

- China, Russia Dump US Treasurys In October As Foreigners Sell Most US Stocks Since 2007 (ZeroHedge, Dec 15, 2014):

Perhaps the most notable feature of the October Treasury International Capital report is that in October foreigners sold a whopping $27.2 billion in US equities, surpassing the dump just after the first Taper Tantrum, when they sold $27.1 billion in June of 2013 when they also sold $40.8 billion in Treasurys. This was the largest selling of US corporate stocks by foreign entities since the August 2007 quant flash crash, when some $40.6 billion in US stocks were sold by offshore accounts.

TIC Dec Stocks

However, what this month’s TIC data will surely be best remember for, is that both China and Russia dumped US Treasurys in October, some $14 billion and $10 billion, respecitvely, in the process sending China’s total Treasury holdings to just $1,253 billion, the lowest since February 2013 and just $30 billion more than the TSYs held by America’s second largest (offshore) creditor, Japan. This happens even as Belgium which many have said is a proxy for Chinese bond purchases, also saw its total holdings decline by $5 billion to $348 billion. Continue reading »

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Dec 12

Always wanted to catch a falling knife?

This is your chance …


Crude Carnage Contagion - Biggest Stock Bloodbath In 3 Years, Credit Crashes

More charts and information here:

- Crude Carnage Contagion: Biggest Stock Bloodbath In 3 Years, Credit Crashes (ZeroHedge, Dec 12, 2014):

We leave it to Jack to explain what happened this week…

Quite a week!!

  • WTI’s 2nd worst week in over 3 years (down 10 of last 11 weeks)
  • Dow’s worst worst week in 3 years
  • Financials worst week in 2 months
  • Materials worst week since Sept 2011
  • VIX’s Biggest week since Sept 2011
  • Gold’s best week in 6 months
  • Silver’s last 2 weeks are best in 6 months
  • HY Credit’s worst 2 weeks since May 2012
  • IG Credit’s worst week in 2 months
  • 10Y Yield’s best week since June 2012
  • US Oil Rig Count worst week in 2 years
  • The USDollar’s worst week since July 2013
  • USDJPY’s worst week since June 2013
  • Portugal Bonds worst week since July 2011
  • Greek stocks worst week since 1987

No Hindenburg Omen today but it appears the Dow & S&P are pressing down to test their 50DMAs…

20141212_EOD14

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Dec 12

France-Time-Bomb

- Fitch Downgrades France To AA: Full Text (ZeroHedge, Dec 12, 2014):

And the final punch in the gut on this bloodbathy Friday some from French Fitch which just downgraded France from AA+ to AA.

From Fitch

Fitch Downgrades France to ‘AA'; Outlook Stable  

Fitch Ratings has downgraded France’s Long-term foreign and local currency Issuer Default Ratings (IDR) to ‘AA’ from ‘AA+’. This resolves the Rating Watch Negative (RWN) placed on France’s ratings on 14 October 2014. The Outlooks on France’s Long-term ratings are now Stable. The issue ratings on France’s unsecured foreign and local currency bonds have also been downgraded to ‘AA’ from ‘AA+’ and removed from RWN. At the same time, Fitch has affirmed the Short-term foreign currency IDR at ‘F1+’ and the Country Ceiling at ‘AAA’. Continue reading »

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Dec 10

- Venezuela Default Probability Has Never Been Higher; Maduro “Working To Raise Oil Prices” (ZeroHedge, Dec 10, 2014):

With OPEC slashing demand expectations to 12 year lows, oil prices have re-cratered today putting further pressure on socialist-utopia Venezuala which needs $121/bbl to break-even. Credit risk for the South American nation has exploded today to record highs – implying a 93% probability of default and President Maduro has taken to the airwaves to calm a benefit-needy nation… tensions are mounting…

Default risk has gone vertical…

20141210_VENZ

As bond prices and black market FX crash further. Continue reading »

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Dec 10

- NIRP In One Picture: €400 Billion In European Government Debt Currently Has Negative Yields (ZeroHedge, Dec 10, 2014):

From Bank of America:

“The chart shows that around €400bn of Eurozone government debt and bills in our bond indices currently have negative yields…. In the topsy-turvy world of negative rates in Europe, it will seem as if credit is becoming the new government debt in places.”

This number is only set to grow as Europe discovers it is Japan.

Nirp bond chart

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Dec 10

- The Treasury’s Worst-Case Scenario: Over $3.3 Trillion In Student Loans In A Decade (ZeroHedge, Dec 10, 2014):

“… If the unemployment rate were to edge up after reaching a trough in two years and the gap between U-6 and unemployment remains as wide as it is today – in excess of historical norms – the size of the program would be expected to reach roughly $3.3 trillion in 2024, $1.7 trillion more than in the base case.” – TBAC

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Dec 10

- Ukraine Bonds Crash To Record Low After Economy Minister Asks For More IMF Bailouts (ZeroHedge, Dec 10, 2014): 

Ukraine bond prices have crashed to new record lows this morning – with even 2015 maturing debt trading at a 25% discount to face – following calls (admissions) by Ukraine’s new (Lithuanian) economy minister that the government will need more IMF help on top oif its current $17 billion package. The country may need another $19 billion next year!!!

Ukraine1

As Reuters reports,

Ukraine’s new economy minister, Aivaras Abromavicius, said on Wednesday the government wanted the International Monetary Fund to expand its $17 billion bailout package due to Ukraine’s worsened economic outlook. Continue reading »

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Dec 09

Venezuelan Bonds Crash To Lowest Price Since 1998 (ZeroHedge, Dec 9, 2014):

Bond prices in Venezuela have totally collapsed this morning – at 45c on the dollar, they are the lowest since 1998as the realization of the “abyss” they are staring into sparks an exodus from all credit positions in the country. VENZ 5Y CDS rallied 130bps which signals hedgers unwinding and the simultaneous sale of the underlying bonds implies broad-based capital flight (and profit taking) as 1Y CDS surges to record highs at 4830bps.

VENZ Bond prices collapse to 1998 lows…

20141209_VENZ

  • VENEZUELA 2027 DOLLAR BONDS FALL TO LOWEST SINCE 1998

Venezuela’s 1Y CDS has smashed to record highs implying imminent devaluation or default…

20141209_VENZ1

If you didn’t think this was serious, think again. (as Bloomberg reports)

The scores of money managers and analysts who crowded into Cleary Gottlieb Steen & Hamilton LLP’s panel discussion on Venezuela last week are a testament to the deepening concern over whether President Nicolas Maduro can make good on the nation’s debt obligations. Continue reading »

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Dec 08

- “Cash-Strapped” Venezuela Stares Into The Abyss… And Its Default Risk Goes Parabolic (ZeroHedge, Dec 8, 2014):

Some two weeks ago (when Venezuela CDS was trading at only 2300  bps) we previewed what – with almost absolute certainty – would be the first “casualty of the crude carnage” – Nicholas Maduro’s little socialist paradise that couldn’t: Venezuela. As a reminder, back then we learned that the OPEC member was in such dire straits it had burned through a third of a Chinese’ bailout loan in the matter of days.

Since then it only got worse, and as we reported early last week in How Goldman Sachs Became Broke Venezuela’s Loan Shark, Venezuela is now scrambling to obtain any cash even if it means doing deals with the devil, or, alternatively, god’s busy worker on this planet, Goldman Sachs.

Then, in a bout of desperation, late the same week, the country – desperate to give the impression that it is not terminally insolvent and still has some foreign reserves left – ordered its Central Bank to dramatically change the rules, in a step “that enables them to count a whole new set of ‘assets’ as potential international reserves including “stones” and “precious metals held in their vaults on behalf of foreign financial institutions.” Continue reading »

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Dec 06

- Italy’s credit rating lowered by S&P (The Local, Dec 6, 2014):

Standard & Poor’s on Friday lowered Italy’s credit rating by one notch on concerns about weak growth and increasing debt while maintaining a stable outlook.

S&P dropped Italy’s long and short-term sovereign credit rating to ‘BBB-/A-3′ from ‘BBB/A-2′, the ratings agency said in a statement. Continue reading »

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Dec 04

Related info:

- PIMCO Paid Bill Gross & Mohamed El-Erian Over $500 MILLION Dollars In 2013 Bonuses


It’s All Coming To An End, Bill Gross Warns (ZeroHedge, Dec 4, 2014):

Say what you want about Bill Gross, but the legendary bond investor is absolutely spot on in the following paragraph from his latest, December, investment outlook:

How could they? How could policymakers have allowed so much debt to be created in the first place, and then failed to regulate their own system accordingly? How could they have thought that money printing and debt creation could create wealth instead of just more and more debt? How could fiscal authorities have stood by and attempted to balance budgets as opposed to borrowing cheaply and investing the proceeds in infrastructure and innovation? It has been a nursery rhyme experience for sure, but more than likely without a fairytale ending.

Here is the full letter (link): Continue reading »

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Dec 03

- Alarm bells toll for human civilization as world’s 12th largest mega-city to run out of water in just 60 days (Natural News):

The city of Sao Paulo is home to 20 million Brazilians, making it the 12th largest mega-city on a planet dominated by shortsighted humans. Shockingly, it has only 60 days of water supply remaining. The city “has about two months of guaranteed water supply remaining as it taps into the second of three emergency reserves,” reports Reuters. [1]

Technical reserves have already been released, and as the city enters the heavy water use holiday season, its 20 million residents are riding on a fast-track collision course with severe water rationing and devastating disruptions.

nuclear-plant-accident-ukraine

- Accident at largest nuclear power plant in Europe revealed by Ukraine PM (RT):

There has been an accident at a nuclear plant in the southeast of Ukraine, Prime Minister Arseny Yatsenyuk has revealed during the first session of his new Cabinet.

A minor accident occurred at Zaporozhskaya nuclear plant, the largest in Europe, last Friday, according to the facility’s website. A reactor was switched off and put to maintenance as a result.

- CNN: Urgent – Emergency repairs reported at largest nuclear power plant in Europe — Prime Minister: I know that a nuclear accident has occurred (VIDEO) (ENENews)

CNN, Dec 3, 2014: URGENT – Ukraine Nuclear Plant Repairs — Emergency repairs began earlier this week… Details about what caused the problem, which the ministry first reported Tuesday, weren’t immediately available.

NYPD

- Ferguson 2.0? Grand Jury Fails To Indict White NYPD Cop In Fatal-Chokehold Case; Press Conference – Live Feed (ZeroHedge):

UPDATE: Charlie Rangel opines “This is not a black problem, this is a problem we have in our great country.”

Protests planned: 430, Grand Central; 7:00 Rockefeller Christmas Tree

A Staten Island grand jury has decided not to indict white NYPD officer Daniel Panateleo, according to NY1, who allegedly used a banned chokehold and killed Eric Garner, a 400lb black man, who was stopped on suspicion of selling loose cigarettes. Police in New York are preparing for potential protests, There are at least two different demonstrations planned in lower Manhattan Wednesday.

norway-f16-mig31-interception

- Flight fright: Russian MiG-31 jet pulls midair maneuver on Norwegian F-16 (VIDEO) (RT):

Two top guns came into very close contact when a Russian MiG-31 aircraft overtook a Norwegian F-16 fighter and cut practically in front of it, forcing the NATO pilot to veer away sharply.

The Russian jet passed the F-16 within a mere 20 meters, causing the Norwegian pilot to exclaim, “What the hell!” before darting away hastily.

bodycam

- This Is The Body Camera That All NYPD Officers Will Soon Wear (ZeroHedge):

As part of the final solution to inner city social unrest across America, President Obama has put forward recommendations that all police offers wear body cameras… this is what the ‘eyes-are-always-on-you’ NYPD police camera will look like. What ever happened to Google Glass privacy concerns?

- Pentagon says Iran bombs ISIS in Iraq, Tehran ‘cannot confirm’ (RT):

Iran has launched airstrikes against Islamic State militants in eastern Iraq in recent days, the Pentagon confirms. According to spokesperson Rear Adm. John Kirby, the strikes were not co-ordinated with the US military and may be the first of their kind.

“We have indications that they did indeed fly airstrikes with F-4 Phantoms in the past several days,” Kirby told AFP.

It may be the first time Tehran has launched manned aircraft from inside Iran to strike Islamic State (IS, formerly ISIS/ISIL) targets in Iraq, Kirby told AP.

- US Army Sends 100 Tanks To Eastern Europe To “Deter Russian Aggression” (ZeroHedge):

The ink on Barack Obama’s Chuck Hagel termination letter hasn’t dried yet but already the US president’s new, and seemingly far more hawkish advisors, are having their warmongering presence felt. Case in point: the Eastern European theater of (Cold) war, where Military.com reports that the new Army commander in Europe plans to bolster the U.S. armored presence in Poland and the Baltic states and keep rotations of U.S. troops there through next year and possibly beyond to counter Russia. Lt. Gen. Frederick “Ben” Hodges, who replaced Lt. Gen. Donald M. Campbell  earlier this month as commander of U.S. Army Europe, said the Army was looking to add about 100 Abrams tanks and Bradley Fighting Vehicles to the forces in Eastern Europe.

fracking-ban-birthplace-texas

- Fracking ban goes into effect in its birthplace (RT):

An unprecedented ban on fracking went into effect Tuesday in Denton, Texas, a town of 123,000 located on top of the natural-gas goldmine that is the Barnett shale formation, the birthplace of the much-maligned oil and gas extraction method.

Denton voters approved the ban last month, making it the first city or county to do so in the energy-rich, fracking-heavy state of Texas.

Shortly after the Nov. 4 vote, the Texas Oil & Gas Association, an energy industry group, and the Texas General Land Office filed a lawsuit seeking to reverse the ban.

don corleone

- $178 Billion In Government Kickbacks: Meet The World’s Biggest Organized Crime Syndicate (ZeroHedge):

Once upon a time it was the Sicilian, or Russian, or Japanese, or Chinese mob that were some of the biggest sources of funding for corrupt government officials (incidentally, most of them). After all, the government is smart enough to realize that it is more lucrative to “cooperate” with the world’s biggest criminal syndicates than to wipe them out and cut off a major source of funding (of course, when it comes to populist optics and reelection, there is always an easy low-level perp walk every week or so to keep the peasants in place… and Diebold).

- ​Anonymous take down Ft. Lauderdale’s site for anti-homeless laws (RT):

The hacktivist group Anonymous is no fan of Fort Lauderdale’s new laws targeting the Florida city’s homeless population, and they took down multiple city websites to prove it.

Another Government Scam

- Another Government Scam – Small Business Administration (SBA) is Exposed as Corporate Welfare to Big Businesses (Liberty Blitzkrieg):

Many people have noted that the more insidious or corrupt a law or agency, the more positive sounding its name. The most egregious example during my lifetime, was naming legislation that stripped Americans of most of their civil liberties the “Patriot” Act.

In a similar vein, which red-blooded American could ever be opposed to something called the Small Business Administration (SBA). We all love small businesses and the entrepreneurial spirit, and even those who abhor big government have a hard time siding against an agency that supports the little guy. As such, the SBA is the perfect vehicle for cronyism, corruption and corporate welfare, which indeed appears to be its primary reason for existence.

My friends at Open the Books have published a key study on the SBA, and the results are ugly. The full report can be found here, but what follows is some analysis of the report by Stephen Moore at Investors Business Daily:

- Chicago – Coldest Year in 110 Years (Ice Age Now):

Not just the day, not just the week, not just the month, we’re talking the entire year.

- Iraqi army ‘had 50,000 ghost troops’ on payroll (BBC):

An investigation into corruption in the Iraqi army has revealed that there were 50,000 false names on its payroll.

Known in the military as “ghost soldiers”, they either did not exist or no longer reported for duty, however their salaries were still paid

- UN: Israeli trade control causes $310 MILLION loss for Palestinian Authority (Al Akhbar):

The Palestinian Authority lost at least $310 million in customs and sales tax in 2011 as a result of importing from or through Israeli-occupied territories, the UN said Wednesday, urging a radical change to the system.

The lost revenue, worth 250 million euros, was equivalent to 3.6 percent of gross domestic product (GDP) and 18 percent of the tax revenue of the authority, the UN Conference on Trade and Development (UNCTAD) said.

- 100,000 Czech travelers stranded due to freezing arctic weather (Ice Age Now):

People forced to spend the night in cold trains and railway stations when temperatures dropped to minus 7.3 C (19.4 F).

Obama-Putin1

- Made in the USA – How the Ukrainian Government is Giving Away Citizenships so Foreigners Can Run the Country (Liberty Blitzkrieg):

Claims that the new government in Ukraine is nothing more than a Western puppet Parliament have been swirling around consistently since February. Nevertheless, I think it’s very significant that the takeover is now overt, undeniable and completely out in the open. Nothing proves this fact more clearly than the recent and sudden granting of citizenship to three foreigners so that they can take top posts in the government.

- Forget Stocks, This is the REAL Crisis That’s Coming (ZeroHedge):

The 2008 crash was a warm up.

Many investors think that we could never have a crash again. The 2008 melt-down was a one in 100 years episode, they think.

They are wrong.

The 2008 Crisis was a stock and investment bank crisis. But it was not THE Crisis.

THE Crisis concerns the biggest bubble in financial history: the epic Bond bubble… which as it stands is north of $100 trillion… although if you include the derivatives that trade based on bonds it’s more like $500 TRILLION.

The Fed likes to act as though it’s concerned about stocks… but the real story is in bonds. Indeed, when you look at the Fed’s actions from the perspective of the bond market, everything suddenly becomes clear.

Budapest – Freezing rain leaves 40,000 homes powerless (Ice Age Now)

- Central Bank Buying Of S&P 500 Futures Extended Until End Of 2015 (ZeroHedge): 

We have some bad news. According to a modification of the Central Bank Incentive Program, central bank rigging of, well, everything and certainly the E-mini S&P future, will go on for a much longer time, with the revised deadline now going through December 31, 2015. 

- Romania – More than 1,000 people stuck in snow (Ice Age Now)

Panic-Button

- Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives (Economic Collapse):

Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market?  The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a decline in the price of oil by more than 40 dollars in less than six months this time either.  If the price of oil stays at this level or goes down even more, someone out there is going to have to absorb some absolutely massive losses.  In some cases, the losses will be absorbed by oil producers, but many of the big players in the industry have already locked in high prices for their oil next year through derivatives contracts.  The companies enter into these derivatives contracts for a couple of reasons.  Number one, many lenders do not want to give them any money unless they can show that they have locked in a price for their oil that is higher than the cost of production.  Secondly, derivatives contracts protect the profits of oil producers from dramatic swings in the marketplace.  These dramatic swings rarely happen, but when they do they can be absolutely crippling.  So the oil companies that have locked in high prices for their oil in 2015 and 2016 are feeling pretty good right about now.  But who is on the other end of those contracts?  In many cases, it is the big Wall Street banks, and if the price of oil does not rebound substantially they could be facing absolutely colossal losses.

It has been estimated that the six largest “too big to fail” banks control $3.9 trillion in commodity derivatives contracts.  And a very large chunk of that amount is made up of oil derivatives.

- Austria – Rare ice storm hits Waldviertel (Ice Age Now):

Some trees 3 ft (1 m) in diameter – Few in the fire service could recall so many ice-damaged trees. Trees breaking like matchsticks.

H/t reader squodgy:

“Jeeeeeeeeeeezuss!”

H/t reader squodgy:

“WOW!!!….of course….the last resort measure to trigger the war they so desperately need to smokescreen their escape from blame for this entire BANK CREATED MESS.”

- Falling Oil Prices Could Cripple ‘Vulnerable’ Russia, Trigger World War III (The Daily Sheeple):

The Cold War 2.0 is going hot, and while it may someday be fought with planes, tanks, guns and bombs, the first front is being fought with oil and shale gas.

The U.S. and European sanctions against Russia will become more severe and crippling in the face of drastically falling oil prices – prices which are falling drastically because of the unprecedented boom of shale gas fracking both domestically in the U.S. and abroad in Ukraine and other locales. The oil & gas giants like Chevron and Exxon Mobil have created revolutionary conditions with now direct consequences on U.S. foreign policy and global war for dominance. Via Bloomberg:

There will be blood

- New US Oil Well Permits Collapse 40% In November, Fed Still “Not Worried”? (ZeroHedge):

Houston, we have a problem-er. With a third of S&P 500 capital expenditure due from the imploding energy sector (and with over 20% of the high-yield market dominated by these names), paying attention to any inflection point in the US oil-producers is critical as they have been gung-ho “unequivocally good” expanders even as oil prices began to fall. So, when Reuters reports a drop of almost 40 percent in new well permits issued across the United States in November, even The Fed’s Stan Fischer might start to question his lower oil prices are “a phenomenon that’s making everybody better off,” may warrant a rethink. New permits, which indicate what drilling rigs will be doing 60-90 days in the future, showed steep declines for the first time this year across the top three U.S. onshore fields: the Permian Basin and Eagle Ford in Texas and North Dakota’s Bakken shale.

Christmas-Gifts

- How Did Christmas Become A Festival Of Greed? (Economic Collapse):

For most people, Christmas is all about the presents. But how did such a supposedly sacred holiday become a festival of greed? Not many people know the history behind Christmas gift giving, and it will probably shock you. This year, Americans will spend somewhere in the neighborhood of 600 billion dollars on Christmas, but most people have no coherent explanation for why they are buying all of these gifts. Those that are Christian will tell you that they are doing it to celebrate the birth of Christ, but as you will see below, gift giving on this holiday originated long before Christ was born. Others will tell you that they are just following tradition, but most of them have absolutely no idea where the tradition of Christmas gift giving originally came from. And the truth is that most people simply don’t care about the history. They are just excited about all of the stuff that they are going to get on December 25th. But if you are curious to learn how Christmas became a festival of greed, just keep reading…


- London Property Bubble Primed To Burst – Consequences For UK Economy and Sterling (ZeroHedge):

The ongoing slump in oil prices looks set to take their toll on London’s “super prime” property markets with attendant consequences for the rest of the London property market. Foreign money that had been flooding into the UK from a whole array of international sources and parking in London real estate is drying up.

war-in-syria

- Syria Goes Dark (Acting Man):

Syria Then and Now

“Arab Spring” situations have an inexorable tendency to go pear-shaped (Tunisia, the first country to experience one is the lone exception, but even there the “old guard” is reportedly making a comeback, so the whole thing was essentially for nothing in the end). In Egypt, the revolution went from bringing an Islamist to power whose economic policies were either useless or were sabotaged by the organization that actually owns Egypt (the army controls 40% of the economy), back to someone who suspiciously looks like the old boss, with the only difference that he’s even worse. Nothing about the situation even remotely resembles democracy at this juncture. Getting jailed and tortured in Egypt and getting sentenced to death in mass show trials is once again par for the course.

 

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Nov 28

Gold Shortage, Worst In 21st Century, Sends 1Y GOFO To Lowest Ever… And India Just Made It Worse (ZeroHedge):

While we have covered the aberration that is a negative gold GOFO rate previously and in extensive detail in this post, an abridged version of what negative GOFO means comes courtesy of Deutsche Bank’s recent discussion on what a successful Swiss gold referendum. To wit: “It is interesting to note that benchmark gold-dollar swap rates have recently traded negative, meaning investors are paying to borrow gold. This is unusual as gold is traditionally used as a source of collateral for cash financing…. [A] number of factors may play a role, such as excess dollar liquidity or an increased demand for collateral on the back of the global regulatory developments.” In short a gold shortage at the institutional, read commercial and central bank, level. And not just a shortage but the biggest shortage in history, judging by today’s latest plunge in the 1 Month GOFO which just dropped to -0.5% and , worse, 1 Year GOFO that just hit its lowest print in the 21st century, and is also about to go negative: something that has never happened before further suggesting the gold shortage could go on for a long, long time!

The Russian navy frigate Smolny is seen at the STX Les Chantiers de l'Atlantique shipyard site in Saint-Nazaire

- Russian Warship Flotilla Enters English Channel For Military Exercises (ZeroHedge):

The French delivery of two Mistral ships to Russia may be postponed indefinitely (a move which ultimately would cost Hollande over $4 billion in contract breach penalty fees he simply can’t afford to pay), but that doesn’t mean the Russian navy has been hobbled or is hiding in the corner. To the contrary: according to the following tweet from the UK Ministry of Defense, Russia’s navy is getting quite bolder. “Four Russian ships escorted through Dover Strait from North Sea by @RoyalNavy HMS Tyne this morning. Ships have left UK waters.”  What happened? As Bloomberg reports, at least 4 vessels which departed the Russian Northern Fleet main base on November 20, led by anti-submarine ship Severomorsk, entered English channel for exercises that include anti-sabotage training, damage control in case of fire and water intake, state-run news service RIA Novosti says, citing statement from Navy.

 …

us TVs

- The 2014 Black Friday Frenzy: America Goes Shopping, In Photos (ZeroHedge)

Black Friday

- “An Unstoppable Zombie Holiday” – Humanity Shudders as America Exports Black Friday to the World (Liberty Blitzkrieg):

Greater Manchester Police said two arrests were made and injuries reported as police closed some stores to prevent more severe problems. One woman was injured by a falling television set.

The force tweeted “Keep calm, people!” at one point.

There were problems in many parts of Britain, including Wales and Scotland.

– From the Associated PressBlack Friday Chaos Hits Britain

Black Friday is one of those days when all the hope and optimism one possesses for the future of humanity is threatened by the gross, primal, in-your-face reality. I’ve written about the holiday before, specifically, in the piece, The SDR: The Same Demented Regime. Here’s an excerpt:

- Government uses 225-year-old law to force companies to unlock phones (RT):

Revelations about how governments swallow up huge amounts of data have led to consumers and companies embracing encryption like never before, but feds may have found a hidden weapon within a centuries-old law now being used in court.

Late last month, a federal magistrate in New York approved a request filed by United States attorneys and compelled an unnamed cell phone maker to unlock a mobile device that had been seized by authorities pursuant to an investigation. In ordering the company to do as much, though, the judge agreed with an argument made weeks earlier by the US government in which its lawyers said the All Writs Act, a law first put on the books 225 years ago in 1789, should be evoked.

US attorneys told the court in an Oct. 10 filing that they had seized a mobile phone while investigating alleged credit card fraud and, despite obtaining a search warrant, had been unable to bypass the phone’s password-protection. With the data otherwise inaccessible, federal prosecutors said the court could order the manufacturer to provide “reasonable technical assistance” in unlocking the device by relying on the All Writs Act.

- How Bloomberg’s Algo-Writers Serve The Cult Of Keynesian Central Banking (David Stockman’s Contra Corner):

If you ever needed proof that the financial press has been completely indoctrinated in the cult of Keynesian central banking consider the following…

- WTF Chart Of The Day: Centrally Planned Confidence Edition (ZeroHedge):

Because nothing says “spend on Black Friday” like a fractionally positive Dow Jones Industrial Average close in the green… unrigged

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WTF!!!

- About Those Eyeball-Based Valuations: “Half Of Twitter Accounts Created In 2013 Have Already Been Deleted”(ZeroHedge):

Still paying a #Div/0 valuation for Facebook or Twitter based on expectations of exponential growth in eyeballs, or rather “eyeballs“? Then perhaps read this first. “.. many of the “users” on social media sites aren’t real people at all – they’re celebrity staff tweeting on behalf of their employer, or PRs promoting a company, or even fake accounts for people that don’t exist at all. In fact, half of all Twitter accounts created in 2013 have already been deleted.”

- Flood leaves Gaza in ruins, UN declares state of emergency (RT):

An estimated 100,000 homes have been destroyed or damaged as the streets of Gaza City. They were flooded with water and sewage after a week of torrential downpours, prompting the UN Palestinian refugee agency to declare a state of emergency in the area.

Forced out of their homes, thousands of Palestinians are now sleeping in classrooms and makeshift shelters after a massive weeklong storm ravaged the region, reports the Ma’an News Agency. This includes the nearly 30,000 who had been staying at emergency housing after Israel’s 51-day summer offensive.

 – The Price Of Oil Exposes The True State Of The Economy (The Automatic Earth):

We should be glad the price of oil has fallen the way it has (losing another 6% today as we write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other service the price slump provides. That is, it allows us to see how the economy is really doing, without the multilayered veil of propaganda, spin, fixed data and bailouts and handouts for the banking system.

- The First Oil-Exporting Casualty Of The Crude Carnage: Venezuela (ZeroHedge):

What best shows that for Venezuela it is essentially game over, is that as the chart below shows, Venezuela’s international reserves declined $1.3 billion in the week after President Nicolas Maduro transfered $4 billion of Chinese loans to the central bank. In other words, the scrambling oil exporter was forced to burn one third of its Chinese bail-out loan to keep itself solvent. The country’s reserves dropped to $22.2 billion today, according to central bank data. As Bloomberg also notes, Maduro on Nov. 18 ordered the Chinese loan proceeds to be moved from an off-budget fund, so that they would show up in reserves and help boost investor confidence in an economy beset by the world’s highest inflation and widest budget deficit. The following day, Venezuelan bonds rose the most in six years in intraday trading. “If the plan was to calm the bondholders, then burning through a third of that money in five working days doesn’t do it in any way,” Henkel Garcia, director of Caracas-based consultancy Econometrica, said in a telephone interview.

- ‘Disturbing’: Arms firms dine at Tower of London days after ‘sea of poppies’ closed (RT):

The Tower of London hosted a networking dinner for global arms manufacturers, mere days after the extremely popular ‘sea of poppies’ remembrance installation closed. Tower managers have been accused of “crass insensitivity.”

The event, co-sponsored by Lockheed Martin – the world’s biggest defense firm – was billed as an “acclaimed and influential … chance to make new business connections” for senior defense manufacturers.

The guest of honor at the £240-per-head event was Chief of Defence Staff General Sir Nicholas Houghton.

- What Americans Celebrate On Thanksgiving Day — Paul Craig Roberts:

When Americans celebrate Thanksgiving, they don’t know what they are celebrating.

In American folklore, Thanksgiving is a holiday that originated in 1621 with the Pilgrims celebrating a good harvest. Some historians say that this event is poorly documented, and others believe that the Thanksgiving tradition travelled to the New World with the Pilgrims and Puritans who brought with them the English Days of Thanksgiving. Other historians think the Pilgrims associated their relief from hunger with their observance of the relief of the siege of Leiden.

The Pilgrims’ Thanksgiving, if it happened, might not have been the first in the New World. Historians say the Virginia colonial charter declared a Day of Thanksgiving in 1619, and other historians say the first Thanksgiving was observed by the Spanish in Florida in 1565.

- ‘Disturbing’: Arms firms dine at Tower of London days after ‘sea of poppies’ closed (RT):

The Tower of London hosted a networking dinner for global arms manufacturers, mere days after the extremely popular ‘sea of poppies’ remembrance installation closed. Tower managers have been accused of “crass insensitivity.”

The event, co-sponsored by Lockheed Martin – the world’s biggest defense firm – was billed as an “acclaimed and influential … chance to make new business connections” for senior defense manufacturers.

The guest of honor at the £240-per-head event was Chief of Defence Staff General Sir Nicholas Houghton.

- School Expels Child Over Vaccine That Even the Doctor Refuses to Give (The Daily Sheeple):

An 8 year-old Long Island girl has been kicked out of school, and the reason is outrageous.

Ceili McNicholas was told not to return to Long Island’s Laddie A. Decker Sound Beach School after her mother Jamie refused to let her receive the T-Dap booster, which protects against tetanus, diphtheria and pertussis.

The decision to skip the booster wasn’t solely Jamie’s idea – her daughter’s pediatrician won’t administer the shot because it is labeled for children ages 10 and over. Ceili is only 8.

- Fukushima Engineer: Officials covering up how badly groundwater is contaminated — Scientist: “We’re measuring higher levels off Japan” — Radiation near California already exceeds expectations, will be rising for years to come — TV: “Cleanup can’t be done… They lied from the start, Tepco is a den of inequity” (VIDEOS) (ENENews)

- Fracking toxins may be as dangerous as tobacco, asbestos & thalidomide – UK chief scientist (RT):

The effects of fracking could be as dangerous as asbestos, thalidomide, or tobacco toxins, the UK’s leading scientist has warned, claiming the government has adopted the process without considering the side effects.

In a flagship report produced by Professor Sir Mark Walport, the government’s chief advisor on science policy, it is warned that fracking could have serious negative impacts on health and the environment that could last for decades.

- Foreigners ‘like seeing our children die’, can’t help with Mid-East, says Erdogan (RT):

Muslim countries are able to solve their problems on their own, the Turkish president believes. He says far from offering help, the West is actually exploiting “conflicts in the Middle East” and only cares about the region’s riches.

Recep Tayyip Erdoğan has urged Islamic countries to unite in order to solve “the biggest humanitarian and political crisis in their history,” according to AFP, citing the Turkish president’s speech in Istanbul on Thursday.

The only condition to overcome the crisis in the Islamic world is unity, solidarity and alliance,” he said. “Believe me, we can resolve every problem as long as we are united.”

Erdogan says there is no use counting on help from the Western world.

I speak openly, foreigners love oil, gold, diamonds, and the cheap labor force of the Islamic world,” he said. “They like the conflicts, fights and quarrels of the Middle East. Believe me, they don’t like us.”

They look like friends, but they want us dead, they like seeing our children die,” the president went on.

- Switzerland Hands Out Iodine in Case of Nuclear Disaster (Blooomberg):

Switzerland is distributing iodide tablets to more than half the country’s population for use in the event of a nuclear disaster.

- Pennsylvania snowfall shatters 114-year-old records (Ice Age now):

Obliterates record for both the day and the month.

- Ice already forming on Great Lakes (Ice Age now):

Earliest in at least 40 years.

- Tamir Rice Video Shows Cop Opening Fire On 12-Year-Old (Huffington Post):

CLEVELAND (AP) — The police officer who fatally shot a 12-year-old boy carrying a pellet gun fired within 1½ to 2 seconds of pulling up in his cruiser, police said Wednesday. During those few moments, he ordered the youngster three times to put up his hands, they said.

The city released a surveillance video that shows the shooting of Tamir Rice, who was carrying an airsoft gun that shoots non-lethal plastic pellets.

Much of the footage shows what appears to be a bored kid alone in a park on an unseasonably warm November afternoon. Tamir is seen pacing, occasionally extending his right arm with what appears to be a gun in his hand, talking on a cellphone and sitting at a picnic table with his head resting on his arms.

The gun wasn’t real. It can be bought at sporting goods stores for less than $20. Tamir’s was lacking the bright orange tip that is usually put on such weapons to indicate they’re not real guns.

BS propaganda: Thanksgiving attack: Syrian hackers strike U.S. media websites (Examiner):

American,Canadian and European news organizations claimed on Thanksgiving Day that their websites were hacked by a group identifying themselves as the Syrian Electronic Army (SEA), a cyber-terrorist group that is allied with Syria’s Assad regime.

 – Half-blind UK widow commits suicide after incapacity benefit cut (RT):

A partially-blind widow, who suffered crippling back pain for over a decade, committed suicide after her incapacity benefit was cut because state assessors claimed she was fit to work.

- As Japanese Bankruptcies Soar, Goldman Warns “Further Yen Depreciation Could Be A Net Burden” (ZeroHedge):

It is no secret that one of the primary drivers of relentless S&P 500 levitation over the past two years, ever since the start of Japan’s mammoth QE, has been the use of the Yen as the carry currency of choice (once again as during the credit bubble of the early-2000s), whose shorting has directly resulted in E-mini levitation. One look at the intraday chart of any JPY pair and the S&P500 is largely sufficient to confirm this. Those days, however, may be coming to an end, at least according to Goldman which overnight released a note saying that the Yen is “Almost at breakeven: Further yen depreciation could be a net burden.”

- Activists advocate criminal charges for child porn possession (RT)

And if you remember what Barrie Trower said, then you know that it is our governments who will upload child porn onto our computers if “need be”:

- Former Royal Navy Microwave Weapons Expert And UK Intelligence Services Agent Dr. Barrie Trower: Dangers And Lethality Of Microwave Technology (Video – 2:19:36)

- Former Royal Navy Microwave Weapons Expert: NWO TECHNOLOGY UPDATE – Deadly Mobile Phones & The Worst Genocide Ever Committed – The Dangers Of Wi-Fi To Women And Children (Video)

- A Thanksgiving Message (Liberty Blitzkrieg):

I ended the 2012 piece with the following quote, which I want to share again today.

“Live your life that the fear of death can never enter your heart.
Trouble no one about his religion.
Respect others in their views and demand that they respect yours.
Love your life, perfect your life, beautify all things in your life.
Seek to make your life long and of service to your people.
Prepare a noble death song for the day when you go over the great divide.
Always give a word or sign of salute when meeting or passing a friend,
or even a stranger, if in a lonely place.
Show respect to all people, but grovel to none.
When you rise in the morning, give thanks for the light,
for your life, for your strength.
Give thanks for your food and for the joy of living.
If you see no reason to give thanks, the fault lies in yourself.
Abuse no one and no thing, for abuse turns the wise ones to fools
and robs the spirit of its vision.
When your time comes to die,
be not like those whose hearts are filled with fear of death,
so that when their time comes they weep and pray for a little more time
to live their lives over again in a different way.
Sing your death song, and die like a hero going home.”

– Tecumseh
(1768-1813) Shawnee Chief

Who’s Making Money Off The War On Drugs?

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Nov 19

Due to a lot of work that needs to be done & upcoming events (incl. visitors) I’ll be presenting the news to you in the following way up until around Dec. 4.

This way you’ll still get fully updated, whilst I save many, many, many hours of work on the website.


U.S. Foreign Policy
America-Endless-War
Source: Cagle Post

- Ukraine Admits Its Gold Is Gone: “There Is Almost No Gold Left In The Central Bank Vault”:

Back in March we reported of a strange incident that took place just after the Ukraine presidential coup, namely that according to at least one source, “in a mysterious operation under the cover of night, Ukraine’s gold reserves were promptly loaded onboard an unmarked plane, which subsequently took the gold to the US.”  Needless to say there was no official confirmation of any of this taking place, and in fact our report, in which we mused if the “price of Ukraine’s liberation” was the handover of its gold to the Fed at a time when Germany was actively seeking to repatriate its own physical gold located at the bedrock of the NY Fed, led to the usual mainstream media mockery. Until now. In an interview on Ukraine TV, none other than the head of the Ukraine Central Bank made the stunning admission that “in the vaults of the central bank there is almost no gold left. There is a small amount of gold bullion left, but it’s just 1% of the gold reserves.”

- California Tells Court It Can’t Release Inmates Early Because It Would Lose Cheap Prison Labor:

Out of California’s years-long litigation over reducing the population of prisons deemed unconstitutionally overcrowded by the U.S. Supreme Court in 2010, another obstacle to addressing the U.S. epidemic of mass incarceration has emerged: The utility of cheap prison labor.

- Grubergate For Idiots (Such As American Voters): All You Need To Know In 2 Minutes:

Confused at just what Jonathan Gruber, friend (or not friend) of President Obama and Nancy Pelosi, said (and didn’t say)? Here is the two-minute idiot’s guide to the Obamacare architect (or not Obamacare architect)‘s controversial comments (and just who did and did not know him)…

GruberGate: “Senator” Obama Vs “President” Obama (Videos):

If you like your Jon Gruber “brightest minds from academia, that I have stolen ideas from liberally”, you can keep your Jon Gruber…

- Obama: I will send US troops to fight ISIS if they get nukes:

US President Barack Obama has, for the first time, admitted he would deploy US ground troops to Syria and Iraq to fight Islamic State – that is, if the extremist group obtained a nuclear weapon.

“If we discovered that [Islamic State] had gotten possession of a nuclear weapon, and we had to run an operation to get it out of their hands, then, yes,” Obama told reporters at a news conference in Brisbane, Australia, on Sunday. “I would order it.”

- Putin:’US wants to subdue Russia, but no one did or ever will':

The US has no plans to humiliate Russia, but instead wants to subdue it, Russian President Vladimir Putin has said, adding that no one had ever succeeded in doing so – and never will.

Speaking at a forum of the All-Russia Peoples’ Front in Moscow on Tuesday, the Russian leader said that history was not about to change, and that no one would manage to suppress the country.

Throughout history no one has ever managed to do so toward Russia – and no one ever will,” Putin said.

H/t reader squodgy:

As a side note: It is well known that radiation makes viruses (also harmful bacteria and other parasites) become more virulent:

- West Coast Scientists: Many animals on sea floor looking sick or dead — “Everything’s dying… Dead, dead, dead, and dead” — Experts investigate what’s killing sea urchins and cucumbers in Pacific Northwest — “Seeing things never previously observed” (PHOTOS):

National Geographic, Nov 17, 2014 (emphasis added): Urchins and cucumbers seemed to have escaped the ill effects of the virus until now. But in recent weeks, reports have started to come in that they too are dying along beaches in the Pacific Northwest, Hewson said… [He and his team are] studying the urchins and sea cucumbers that are already dying to see if the same killer is responsible.

- Experts: Seemingly benign virus on West Coast causing “ecological upheaval the likes of which we’ve never seen” — Very peculiar, different from all known viruses — Mutations could be helping it spread — Something may have recently caused it to go rogue… we’ve never seen anything like this — Why now, what changed to allow outbreak? (VIDEO):

NBC News (emphasis added): Scientists may have fingered the culprit responsible for a mysterious epidemic that has killed millions of starfish… the disease was a relatively common parvovirus found in invertebrates that rose to epidemic levels due to overpopulation, a genetic mutation or other unknown environmental factors.

PBS: Scientists… said it’s a virus that’s different from all other known viruses infecting marine organisms [and] don’t yet know what sparked the seemingly benign virus to transform into the perpetrator of what’s considered the largest marine disease outbreak ever…

- Big Win! Monsanto Reports $156 Million Loss in Q4 as Farmers Abandon GM Crops:

Are you invested in Monsanto stock like Bill Gates, who owns hundreds of thousand of Monsanto shares worth about $23 million? It might be time to pull out since the company just reported over $156 million in losses for the fourth quarter.

- Even McDonald’s Rejects New GMO Potato in French Fries:

Still Plenty of Reasons NOT to Eat There

- Here We Go Again: Demand For Subprime Debt Is “Out Of Control”:

As Kyle Bass once eloquently noted, the brevity of financial memory is about two years; and nowhere is that more clear than in the explosive resurgence of demand for new subprime-mortgage-backed products. As Scotsman Guide reports, some subprime lenders are reporting strong investor appetite for the once-reviled mortgage products (for borrowers with credit scores as low as 500 and with debt-to-income (DTI) ratios as high as 50 percent). “It’s out of control; it seems like there’s 10 times the amount of demand to buy this paper as there are borrowers that want the loans,” said one lender. As Bass may have also said “proceed with caution.”

- Approx. 100 t of sardines washed ashore in Pacific coastal area of Hokkaido again – Photos

- A Letter from the Norwegian Nobel Committee to Barack Obama:

You are the most undeserving Nobel Peace Prize winner since the odious, war-mongering Henry Kissinger. What company you keep! We were delusional dupes for giving the Peace Prize to him and you both. That is all. Now, back to “Lilyhammer.”

The Norwegian Nobel Committee
Drammensveien 19 NO-0255 OSLO
Norway

H/t reader squodgy:

“Here is one tale of how the Reypothecation might have taken place.

Of course, bankers, being honest, and politicians never lying, mixed with zionist israelis could never meld into planning and executing the biggest heist ever, under the guise of a false Arab terror plot whilst killing 3000 innocent Gentiles , just Gentiles (3000 jews were told not to turn up for work on 9/11) resulting in total surveillance of all the other gentiles on the planet carried out in the main by mossad connected security companies.

Also, isn’t it pure coincidence that the security at the Fukushima plant was also under the control of a mossad connected security firm..

http://cryptome.org/eyeball/gold-vault/gold-vault-frbny.htm

Don’t miss: - http://cryptome.org/eyeball/gold-vault/gold-vault-frbny.htm:

The gold vault in the Federal Reserve Bank New York is reportedly the largest gold depository in the world. Yet compared to other major gold vaults, such as the one at Fort Knox, it appears lightly secured. There are one or two guards at the loading dock which connects to the vault. Because the building is located in a dense urban area, its walls and entrances abut sidewalks without security barriers like those at other bullion depositories. The site of the building slopes such that the topmost levels of fve basements where the vaults are located directly adjoins two streets, albeit there are reinforced concrete walls with steel face plates as well as interior alarm systems protecting the hoard. (See note below on basement levels and wall thicknesses.)

Copies of the original 1922 construction drawings of the facility, publicly available at Avery Architectural Library, Columbia University, were obtained by Cryptome. A floor plan of a vault level is provided below.

- Wholesale Inflation Heats Up Due To Jump In Car, Food Costs, New Calculation Method:

Janet Yellen will be pleased… or not. Producer Price Inflation printed hotter than expected across all its various incarnations (good news, no deflation; bad news, no deflation excuse for The Fed). Ex Food-and-Energy prices rose 1.8% YoY (4-month highs), considerably more than the 1.5% expectations but surged 0.4% MoM – the most in 16 months. PPI Final Demand rose 1.5% YoY (1.3% exp). The rise in PPI appears driven by Food prices which are up 1.0% (the most since April) and Trade PPI (+1.5%) thanks to a 26.1% jump in margins for fuels and lubricants retailing (under new calculation methods) accounted for nearly 40% of the rise in final demand.#

- Hugh Hendry: “I Believe Central Bankers Are Terrified”:

“My premise hasn’t really changed since I published my paper explaining why I had become more constructive towards risk assets this time last year. That is to say, the structural deficiency of global demand continues to radicalise the central banking community. I believe they are terrified: the system is so leveraged and vulnerable to potentially systemic price reversals that the monetary authorities find themselves beholden to long only investors and obliged to support asset prices. However, I clearly confused everyone with my choice of language. What I should have said is that investors are perhaps misconstruing rising equity prices as a traditional bull market spurred on by revenue and earnings growth, and becoming fearful of a reversal, when instead the persistent upwards drift in stock markets is more a reflection of the steady erosion of the soundness of the global monetary system and therefore the rise in stock prices is something that is likely to prevail for some time.”

- Relentless US Journalist who has Seen and Felt the Boot of Israeli Fascism is Returning to Palestine for More:

Journalist Zebula “Sha” Hebert has been “shot at, stabbed, pepper sprayed, maced, tear-gassed, tased, arrested, detained, beaten, and interrogated” while conducting his work.  He knows what repression feels like, which is why he is undertaking a highly ambitious project: in the wake of the recent US-backed Israeli assault, Hebert will return to Palestine and spend a year in Gaza.  He will conduct interviews with Gazans, publish reports, and ultimately write a book about his findings and experiences, all to help amplify the voices of a trapped refugee population being brutalized by the world’s most powerful aggressors.

Hebert conducted an interview with Robert Barsocchini for Washington’s Blog, to elucidate and spread the word about his upcoming journalistic endeavor:

- Indonesia still performs ‘virginity tests’ on female police job applicants – HRW:

Indonesia’s practice of subjecting would-be female police officers to ‘virginity tests’ is “discriminatory and a form of gender-based violence,” that has to be stopped, Human Rights Watch says.

- ‘RT will soon be banned in Germany too’: Russian FM jokes at media conference:

The Russian FM known for his impeccable diplomatic skills, brightened the mood of the media conference held in Moscow after meeting with the German foreign minister. Both diplomats chuckled at the joke that was addressed to RT.

In my opinion another test of advanced technology (that will be used in the future against the people to make them accept the NWO):

- Chelyabinsk meteor #2? Massive flash over Russia’s Urals stuns locals & scientists:

An extraordinary bright orange flash has lit up the sky in Russia’s Sverdlovsk region in the Urals. While locals captured the massive ‘blast’ on numerous cameras, both scientists and emergency services still struggle to explain the unusual event.

- Kissinger Warns “We Need A New World Order”; Ukraine Should Forget Crimea & NATO:

Former U.S. Secretary of State Henry Kissinger says in an interview with Der Spiegel that there currently is an urgent need for a new world order, but its coming into being will be long and complicated. “There is the Chinese view, the Islamic view, the Western view and, to some extent, the Russian view. And they really are not always compatible,” he warns, adding that introducing anti-Russian sanctions was a mistake. He added that Ukraine should not hope to become a member of NATO in the foreseeable future, as the alliance will never vote unanimously for the accession of Ukraine.

- Game 8 – 2014 World Chess Championship – Viswanathan Anand vs Magnus Carlsen:

Reader squodgy sent this to me:

“Spotted in Canada”

Spotted in Canada

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Nov 16

FYI.


MississippiWoman1936
Dorothea Lange Negro woman who has never been out of Mississippi July 1936

- Debt, Propaganda And Now Deflation (The Automatic Earth, Nov 14, 2014):

Looks I have to return to the deflation topic. I’m a bit hesitant about it, because the discussion always gets distorted by varying definitions and a whole bunch of semi-religious issues. The Automatic Earth has for many years said that an immense bout of deflation is inevitable because of global debt levels, and it’s all only gotten a lot worse since we first said that. Our governments and central banks have ‘fought’ deflation with more debt, and that was always the stupidest idea in human history. Or at least, most of us were stupid for believing it would work, or was even intended to.

Just so we don’t get into yet more confusion, i probably need to explain that the debt deflation we’re talking about here is not some subdivision like consumer inflation or price inflation or cookie inflation, those are just hollow and meaningless terms. Debt deflation is deflation caused by too much debt, and the deleveraging it must and will lead to. Deflation does not equal falling prices, those are merely an effect of it. Continue reading »

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Nov 14

- Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming (ZeroHedge, Nov 13, 2014):

While talking heads proclaim – incorrectly – that low oil prices are unequivocally good for the US economy, it is very much not the case for oil producers around the world. Most notably, Venezuela – which ‘needs’ oil prices above $100 to maintain its socialist utopia – and currently ranks at a lowly 100th on the world’s prosperity index, is in grave trouble if this trend continues. Venezuelan bonds plunged to new record lows today as oil prices hit fresh cycle lows, strongly suggesting default or currency devaluation is imminent. However, as is usual (think Mexico) Finance Minister Rodolfo Marco Torres ruled out devaluation even as oil price drop exacerbates country’s finances. As one analyst noted, “there’s broad understanding that in the absence of any corrective policy measures that these guys are going to be in serious trouble.” It appears they already are. The Maduro government desperately needs a rise in oil prices, but Saudi Arabia has so far rebuffed calls for an emergency meeting as it pursues a strategy of waiting out higher cost competitors. OPEC does not plan on meeting until Nov. 27. That is still an eternity for a country that is beginning to unravel.

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Nov 05

- Interest Rates Cannot Rise and Here’s Why… (Frist Rebuttal, Nov 3, 2014):

I wrote an article recently over at Voices of Liberty that lays out the very dire picture for those of us who have yet to retire.  The gist of the article is that the Fed has effectively robbed the retired class of any hope for having enough of a nest egg to live off through the end of their lives if they want to retire at 65.

Some may argue well this past 10 years has just been an anomaly of low interest rates but they will come back i.e. normalize to higher levels here in the next couple years.  Well let me show you why that is simply wrong. Continue reading »

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Nov 05

kuroda_0

“Japan’s Debt Market Could Crash In Ways That Make The Collapse Of Lehman Look Like A Warm-up” (ZeroHedge, Nov 4, 2014):

While it is remarkable that the same media organization that a week ago was fawning over the rotting carcass of Keynes’ disastrous economic legacy, can today issue a warning that “Japan Creates World’s Biggest Bond Bubble”, we have long since given up being surprised by things that make absolutely zero sense in the New Abnormal.

So here is William Pesek with a less than Keynesian view on why Banzainomics’ very own Kuroda-san will be regarded as either a genius or a madman in a decade. Spoiler alert: it won’t be “genius.” Continue reading »

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