Africa

In the West Junk Information And Junk Judgment Prevail

Paul Craig Roberts

As the Dollar Index surged post-manufacturing data, WTI Crude began to lose altitude from its overnight ramp. Combined with ongoing concerns over Libya's production ramp, crude just crashed from over 55.00 to under 53.00 in minutes on heavy volume...

It seems the catalyst was the USD index breaking recent highs...

But now both Oil and the dollar are tumbling...

Two weeks after a Tunisian man, Anis Amri, whose German asylum request had been rejected, rammed a truck into a Berlin Christmas market and was later shot dead by Italian police, the German state prosuector's office said on Monday that a Syrian migrant who arrived in Germany two years ago was arrested on suspicion of seeking money from the Islamic State, to drive truck bombs into crowds.

Submitted by Howard Kunstler via Kunstler.com,

“There is no other endeavor in which men and women of enormous intellectual power have shown total disregard for higher-order reasoning than monetary policy.

-David Collum

American Notes

Submitted by Jayant Bhandari via Acting-Man.com,

India’s Prime Minister, Narendra Modi, announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender. Linked are Part-I, Part-II, Part-III, Part-IV, Part-V, Part-VI and Part-VII, which provide updates on the demonetization saga and how Modi is acting as a catalyst to hasten the rapid degradation of India and what remains of its institutions.

India’s Pride and Joy