A Big, Fat "Policy Error" Or Worse? Find Out Tomorrow

Did algos finally figure out precisely what we said first thing this morning, namely that the market completely ignored what was a hawkish hike, and that as a result, what Yellen has done, now that the kneejerk reaction is over, is policy error, pure and simple?

We Disappeared Some Folks: Details Emerge In China's Sweeping Probe Of Stock Market Rescue

Submitted by Tyler Durden on 12/17/2015 - 20:40 “Communist Party graft busters have been taking officials, one by one, to a hotel close to the [CSRC’s] headquarters to press them to come clean or report on others."

Gold & The Federal Funds Rate

Submitted by Tyler Durden on 12/17/2015 - 20:05 It is widely assumed that the gold price must decline when the Federal Reserve is hiking interest rates. It seems logical enough: gold has no yield, so if competing investment assets such as bonds or savings deposits do offer a yield, gold will presumably be exchanged for those. There is only a slight problem with this idea. The simple assumption “Fed rate hikes equal a falling gold price” is not supported by even a shred of empirical evidence.

Dear Janet, Explain This!

Submitted by Tyler Durden on 12/17/2015 - 19:30 Having been unable - or unwilling - to answer various reporters' questions with regard the 'odd' timing of The Fed's rate hike yesterday, we thought we would offer just one more chart to question the credibility of the central planners. Plucked from The Fed's own research, last week saw the largest surge in St.Louis Fed's Financial Stress Index (FSI) since August... and as Yellen proclaimed "all clear" the FSI was screaming "Danger" even louder than it did in September - when The Fed folded.

ISIS, Al Qaeda And The CIA: The Documented Connection

Submitted by Tyler Durden on 12/17/2015 - 18:55 What we do know is one of the most important spies in the CIA, one with a major role in the Near East (probably Iraq), definitely was retained as a lobbyist by Sulayman.  And Sulayman retained him to “create an autonomous Sunni region in Iraq or an independent Sunni State.”  In other words, destroy Iraq by formally creating and recognizing Sunni-Jihadi-stan.  Or a safe-zone for Sunni terrorists.  Or what it actually is, a caliphate.  It was recently written in the Washington Post that many Shia Iraqis harbor the conspiratorial belief the US created the Islamic State to destroy Iraq.  Conspiracy theory becomes conspiracy fact.

Artist's Impression Of The Fed Rate Hike Hangover

Data-dependent... and unrepentent!

America, It's Over! Yale Students Sign Petition To Repeal First Amendment

Submitted by Tyler Durden on 12/17/2015 - 18:00 America, It's Over! Summing up the ignorance exposed in political satirist Ami Horowtiz's petition of Yale students to "blow up" The First Amendment, one student remarked, "I think this is fantastic, I absolutely agree."

Dramatic Footage Of Reporters Mugging Martin Shkreli At Brooklyn Courthouse

Submitted by Tyler Durden on 12/17/2015 - 17:56 A dramatic scene unfolded in front of a Brooklyn courthouse, where dozens of reporters mugged the diminutive and scandalous Martin Shkreli after he posted a $5 million bond to be released back into society, something we have not seen since the days of Bernie Madoff.

Refining ISIS Oil: Images From A Syrian Cottage Industry

Submitted by Tyler Durden on 12/17/2015 - 17:30

Time For A Rate Cut? Dollar Surge Sparks Stocks, Credit, Crude Purge

Submitted by Tyler Durden on 12/17/2015 - 16:35

3 Things: Tick-Tocks, Stocks, & Shocks

Submitted by Tyler Durden on 12/17/2015 - 16:30 Please meet the “worst economic forecasters” ever. And while the mainstream media quickly laps up the optimistic outlook of the Fed, you might want to consider their own record of forecasts when making long-term investment bets. Based on statistical history combined with the current underpinnings in the market, the outlook really isn’t as bright as Ms. Yellen suggests.

Thursday Humor: Lawyer For Martin Shkreli Hike Fees 5,000%

Submitted by Tyler Durden on 12/17/2015 - 15:50 “Compared to what he pays for an hour of Wu-Tang Clan, sixty thou is a bargain"...

Thai Man Faces 37 Years In Prison For "Insulting" the King's Dog

Submitted by Tyler Durden on 12/17/2015 - 15:30 In America, we often joke that what we post on the internet might land us in prison, but for the time being - though perhaps not for long - we are generally safe to say what we like about the government. We worry mostly only about the “slap on the wrist” of probably being placed on a watch list. A man in Thailand, however, faces 37 years in prison for criticizing the king’s dog on the internet, as well as allegedly insulting the monarchy.

Martin Shkreli, "America's Most Hated", "Price Gouging" Biotech Mogul Arrested For Securities Fraud, Released On $5 MM Bond

Submitted by Tyler Durden on 12/17/2015 - 15:20 "I’ll show up with $2 million bail money no fucking problem.”

The DSKing Of Christine Lagarde: Someone Wants To Eliminate The Head Of The IMF

Submitted by Tyler Durden on 12/17/2015 - 15:14 A French court ordered the orange-skinned IMF head to finally face trial over her alleged role in the Tapie payout scandal. What is most unexpected about this outcome is that France's top prosecutor had recommended in September that investigations against Lagarde in the case be dropped.

US Defense Secretary Used Private E-Mail To Conduct Government Business For Months

Submitted by Tyler Durden on 12/17/2015 - 14:50 “After reviewing his email practices earlier this year, the secretary believes that his previous, occasional use of personal email for work-related business, even for routine administrative issues and backed up to his official account, was a mistake."

WTF Headline Of The Day: Saudi Millionaire Edition

Submitted by Tyler Durden on 12/17/2015 - 14:30







Who do you think the production crew is???

The US Knows Where ISIS Videos Are Produced - But Does Nothing About It

Submitted by Tyler Durden on 12/17/2015 - 14:10 "Obviously, if we know where they’re producing the propaganda, we should be doing everything we can to destroy their facilities."
Yes, "obviously."

Silver is Now a BUCK in 1980 Dollars — SRS ROCCO

by SGT, SGT Report.com:

Excellent economics and silver researcher Steve St. Angelo from SRS Rocco joins me to discuss all things silver… and the deflationary economic collapse. Thanks for joining us.

Silver: May the 100 Year Force Be With You!

by Gary Christenson, via Gold Silver Worlds:

What force? Some of the “forces” in our world that are supportive of higher silver prices are:

• Debt Increases: Global debt exceeds $200 Trillion and rising rapidly.
• Warfare: Syria, Turkey, Russia, Ukraine, South China Sea, Chicago and others. It is a long list.
• Welfare: Bank bailouts, military contractors, Medicaid, food stamps, dozens of “programs” and so much more.
• Central bank “money printing:” Bank of Japan, European Central Bank, the Federal Reserve, Bank of England and others are doing what they do best – devaluing their currencies. The bubbles created in the bond, stock, and currency markets must be fed and supported.

Read More

Hey Banksters, What’s the Top Trend on Ebay Today? PHYSICAL SILVER

by SGT, SGT Report:

My buddy Eric sent me this today, and we think you all should see it.
Sure, the silver price is getting smashed again today… that’s nothing new. But guess what?! Today SILVER BULLION is the second highest trending category on eBay, even beating out Star Wars related items which are filling out the number 3 and 4 spots.
It’s just one more example of the absolute disconnect between the physical silver and paper silver market. The more the criminal banking cartel craters the prices of the precious metals in fantasy land of the paper “market”, the more they stoke the fires of demand in the real world.
Take that central banksters.
Read More

SANDY HOOK ACTOR PLAYS GRIEVING FATHER & FBI SWAT TEAM MEMBER

from The Burning Platform:
OK. Someone who knows about guns intimately, please explain this to me:
This video apparently shows David Wheeler, one of the grieving parents of Sandy Hook, also dressed as an FBI SWAT team member.
Look at the video around 9:00 minutes. This guy is walking around with BOTH an M-4 on his chest, and carrying a bolt action, scoped “sniper” rifle. What SWAT team member walks around with TWO rifles, dressed like a slob, overweight, without any clear mental focus, as he continually ducks his head? ZERO mental focus. This man is a sniper?
Read More

Is the Imperialist United States Gov’t Finally Backing Down?

“All in” …did we back down?
Bill Holter, JS Mineset, via SGT Report:
Wednesday morning before the Fed announcement, a reader sent me this:
“It is Janet Yellen’s turn to stoke the fire and evidently her news today of a rate increase has stoked the stock market fire to the tune of the Dow rising 138 points 10 minutes in. It has the feeling of being on the Texas coast holding a hurricane party waiting for a hurricane to hit. There are hundreds of people drinking and partying.”
SO TRUE …and party they did! The rate hike was not even the biggest news of the day as you’ll see…and maybe they were all connected, we’ll get to that shortly.
Read More

In First Post-Hike Reverse Repo, Fed Removes $105 BILLION Liquidity From 49 Banks

from Zero Hedge:
In what appears to be an orderly process, The NY Fed’s first Reverse Repo operation since The FOMC ‘raised’ rates accepted $105.185 billion of Treasury collateral from 49 banks at 25bps. This is being greeted as good news by many as no major disprutions appear to have occurred… aside from, of course, a 6bps plunge in long-end bond yields, 250 point drop in The Dow, and notable weakness in high-yield bonds. While some had feared up to $1 trillion would need to be withdrawn to achieve The Fed’s goals, the size of this initial RRP suggests there is considerably less excess liquidty in the system than many would believe… indicating a notably more fragile system than we are being led to believe.
Read More

An Easy Silver Double

from Outsider Club:

Silver is cheap.
We thought it was cheap at $20 per ounce in 2013 and early 2014.
But that was only because silver prices north of $40 per ounce were still in our recent financial crash-laden memory.
Silver has actually been cheap for a year now. At least as measured relative to its golden big brother.
Right now, however, silver is extremely cheap
Read More

/