"And It's Gone... It's All Gone" - The One Gold Scandal That Goes To The Very Top

Following the yellow brick road leads us deep, very deep inside the rabbit hole...

"Unstoppable" California Gas Leak Now Being Called Worst Catastrophe Since BP Spill

Submitted by Tyler Durden on 12/24/2015 - 13:12 Since initially reporting on California's Alison Canyon gas leak, more details have emerged on the scale (and potential for no solution) of the problem... "the enormity of the Aliso Canyon gas leak cannot be overstated. Gas is escaping through a ruptured pipe more than 8,000 feet underground, and it shows no signs of stopping." Methane - a greenhouse gas 72 times more impactful in the atmosphere than carbon dioxide - has been leaking with force equivalent “to a volcanic eruption” for about two months now.

US National Insecurity: The Art Of Blaming Russia (For Everything)

Submitted by Tyler Durden on 12/24/2015 - 21:30 In American politics the nation of Russia, especially as personified in its leader Vladimir Putin, becomes all things to all men. To American leftists, Russia is a neo-fascist, violently nationalist country that ruthlessly suppressed minority groups, especially homosexuals. To the American Right, Putin is the second coming of Stalin who is working to subvert good old-fashioned American values around the world.

The Fed Has Created A "Monster" And Just Made A "Dangerous Mistake," Stephen Roach Warns

Submitted by Tyler Durden on 12/24/2015 - 20:12 "By now, it’s an all-too-familiar drill. After an extended period of extraordinary monetary accommodation, the US Federal Reserve has begun the long march back to normalization. A majority of financial market participants applaud this strategy. In fact, it is a dangerous mistake."

Why 'The Regime' Hates Gold

Submitted by Tyler Durden on 12/24/2015 - 20:10 There’s only one investment we can think of that many people either love or hate reflexively, almost without regard to market performance: gold. And, to a lesser degree, silver. It’s strange that these two metals provoke such powerful psychological reactions - especially among people who dislike them. Nobody has an instinctive hatred of iron, copper, aluminum, or cobalt. The reason, of course, is that the main use of gold has always been as money. And people have strong feelings about money. From an economic viewpoint, however, money is just a medium of exchange and a store of value. Efforts to turn it into a political football invariably are signs of a hidden agenda, or perhaps a psychological aberration. So, let’s take some recent statements, assertions, and opinions that have been promulgated in the media and analyze them.

Manhattan Luxury-Home Prices Drop For 8th Straight Month Amid "Glut In Overpriced Apartments"

Submitted by Tyler Durden on 12/24/2015 - 19:30 The poor are getting poorer but the rich, it appears, are no longer getting richer. With apartment vacancies at 9-month highs, Bloomberg reports that Manhattan's luxury-home market is rapidly losing its luster. Prices have been dropping every month since February, when they reached their highest point on record, and, as one analyst notes, "the downward trend in that decline hasn’t abated, and we haven’t seen it wavering in any way."

Ukraine's Looming "19 Fukushimas" Scenario

Submitted by Tyler Durden on 12/24/2015 - 18:50 With all the action in Syria, the Ukraine is no longer a subject for discussion in the West. In Russia, where the Ukraine is still a major problem looming on the horizon, and where some 1.5 million Ukrainian refugees are settling in, with no intentions of going back to what's left of the Ukraine, it is still actively discussed. But for the US, and for the EU, it is now yet another major foreign policy embarrassment, and the less said about it the better. In the meantime, the Ukraine is in full-blown collapse - all five glorious stages of it - setting the stage for a Ukrainian Nightmare Before Christmas, or shortly after.

Two-Thirds Of Young Democrats Eager To Accept Refugees From Fictional City In Aladdin Movie

Submitted by Tyler Durden on 12/24/2015 - 18:10 Earlier in the week, many scoffed at the stereotype-confirming 30% of Republicans than supported the bombing of Agrabah - the fictional city from the Disney movie Aladdin. Now, according to WPAResearch, a new poll shows a stunning 66% of young Democrats are especially eager to take in the imaginary refugees.

58 Facts About The U.S. Economy From 2015 That Are Almost Too Crazy To Believe

Submitted by Tyler Durden on 12/24/2015 - 17:30 The world didn’t completely fall apart in 2015, but it is undeniable that an immense amount of damage was done to the U.S. economy. So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media.  When you look at the cold, hard numbers, they tell a completely different story.  The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe...

Declassified Top Secret Documents Show US Planned To Nuke Moscow, Berlin, Beijing

Submitted by Tyler Durden on 12/24/2015 - 16:55 “The SAC study includes chilling details. According to its authors, their target priorities and nuclear bombing tactics would expose nearby civilians and 'friendly forces and people' to high levels of deadly radioactive fallout. Moreover, the authors developed a plan for the 'systematic destruction' of Soviet bloc urban-industrial targets that specifically and explicitly targeted “population” in all cities, including Beijing, Moscow, Leningrad, East Berlin, and Warsaw.”

Bernie Sanders: We Need A "Full And Independent Audit" Of The Federal Reserve

Submitted by Tyler Durden on 12/24/2015 - 16:20 "Unfortunately, an institution that was created to serve all Americans has been hijacked by the very bankers it regulates.” 2016 Democratic presidential candidate and Senator from Vermont Bernie Sanders said in an op-ed on Wednesday that a full independent audit of the Federal Reserve is necessary “to reign in Wall Street."

Switzerland To Vote On Ending Fractional Reserve Banking

Submitted by Tyler Durden on 12/24/2015 - 15:43 Today the Swiss Federal Government confirmed that it had received enough signatures and would hold a referendum as part of the so-called "Vollgeld", or Full Money Initiative, also known as the Campaign for Monetary Reform, which seeks to ban commercial banks from creating money, and which calls for the central bank to be given sole power to create the money in the financial system. In other words, an initiative to ban fractional reserve banking, and revert to a 100% reserve.

How Turkey's Erdogan "Risks The Destruction Of The Country"

Submitted by Tyler Durden on 12/24/2015 - 15:10 "Erdogan's adventurism has been quite successful so far, but it amounts to an extraordinary departure for Turkish foreign policy, and maybe even risks the destruction of the country. How on earth could this happen? The background is an inferiority complex, and megalomania."

Coming To America? Somalia, Brunei Ban Christmas To Avoid Damage To Muslim Faith

Submitted by Tyler Durden on 12/24/2015 - 14:35 The governments of both Somalia and Brunei have prohibited public festivities celebrating Christmas saying that they could damage the Muslim faith. Of course, as we saw yesterday, this kind of suppressive, micro-aggression is already here in America (at Cornell University) but while Mistletoe and crosses are banned here, Brunei's Sultan Hassanal Bolkiah has banned "hats or clothes that resemble Santa Claus," fearing they could "provoke al-Shabab to carry out attacks." No, this is not from The Onion.

Dozens Killed In Huge Nigeria Gas Plant Explosion

Submitted by Tyler Durden on 12/24/2015 - 14:15 A massive explosion has occurred at an industrial gas plant (owned by Inter Corp Oil) in the southeastern Nigeria town of Nnewi. Local media reports the blast occurred while a truck was discharging its contents, and the ensuing fireball has left over 100 people burned to death.

Faltering Faith, Losing Hope, & Rising Charity - 15 Striking Findings From 2015

Submitted by Tyler Durden on 12/24/2015 - 14:00 Every year, Pew Research Center looks back at the most memorable facts that illustrate important trends shaping our world. From faltering faith in government to the decline of Christians in America and from increased racial tensions to the shrinking American middle-class, here are some of our most striking findings of 2015.

Best "Santa Rally" In 4 Years Ends With Lump Of Coal

Submitted by Tyler Durden on 12/24/2015 - 13:38

Has The Great Carry Unwind Arrived: Yen Surges After Warning USDJPY 100 Coming

Submitted by Tyler Durden on 12/24/2015 - 13:33 Goldman, Decembert 20, 2015: "We think the BoJ is closer to easing further to attempt to achieve a successful reflation than it is to giving up altogether, and so we continue to expect $/JPY higher. We recommend being long $/JPY as part of our 2016 top trade recommendation (along with short EUR/$) and forecast $/JPY at 130 in 12 months"... Three days later, the USDJPY is 100 pips lower.

New Home Sales Miss Expectations – Government Data Is Useless

by Dave Kranzler, Investment Research Dynamics

Housing has been converted into a financial “asset” because the value of a house, and the ability to buy a house, has been irrevocably predicated on the amount of debt the buyer of the home is able to assume in order to pay for the house.  The housing bubble is more dangerous than the stock bubble.  Underneath it all is a catastrophic level of debt.  The middle class will not survive the next housing downturn, which has already started.  – Investment Research Dynamics/Kranzler Research
The Government’s Census Bureau reported new home sales for November.  The reported number – 490k seasonally adjusted, annualized rate (SAAR) – was a 20k increase over the October number.  There’s just one problem:  October’s number was originally reported to be 495k but was revised down 470k.  In fact, the Census Bureau has revised down its reported results for the last five months.  For the record, the November number – whatever it really may be – missed the Wall Street brain trust consensus estimate of 500k.
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How Close Are We To A Civil War?

from Verify Events Research:

Award winning journalist Seymour Hersh revealed the US military was defying the White House and the CIA by providing intelligence to Syria against ISIS. While Obama is expected to move against guns in the next few days (another “conspiracy theory” coming true) it is good to put this issue into perspective and to point out the obvious red line of the US public on this issue. The system is disintegrating at the seams and with the US military revolting against the executive branch a civil war can start at any moment.

As The American Middle Class Implodes: 5 Common Mistaken Beliefs About Debt Relief

by Jennifer Mitchell, Finance Train:
1. Credit Counseling Is Just The Same As Debt Management
Credit counseling is essentially assisting people with debt concerns to develop fiscal discipline and adhere to a practical budget that can help them to wind down their debt in the most optimal way. This sort of a program is basically aimed at folks that earn enough but simply can’t manage their finances efficiently and land up in debt. In contrast, debt management programs aims to take charge of the client’s money and paying off his creditors till such time the balance is zero, and can be closed down. Only about a third of people getting in touch with credit counseling agencies stand to benefit from such a debt management program.
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