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WTI Crude Trades At Premium To Brent For First Time In Over 11 Months

Just as we warned, since the US export ban 'lift' loomed, so WTI prices have shifted notably, having today converged to Brent's price for first time since January. It may have a lot further to fall as some analysts suggest the lifting of the export ban "is going to end up ultimately being bearish everything."

Last week we said...

US "Ally" Saudi Arabia's Phony War On Terror

Authored by Brahma Chellaney, originally posted at Project Syndicate,

Containing the scourge of Islamist terror will be impossible without containing the ideology that drives it: Wahhabism, a messianic, jihad-extolling form of Sunni fundamentalism whose international expansion has been bankrolled by oil-rich sheikhdoms, especially Saudi Arabia. That is why the newly announced Saudi-led anti-terror coalition, the Islamic Military Alliance to Fight Terrorism, should be viewed with profound skepticism.

Feldkamp: The Macroeconomics of Crises and Fraud

Great comment from my friend and mentor Fred Feldkamp. Happy holidays.  -- Chris

The Macroeconomics of Crises and Fraud 

By Fred Feldkamp

A terrific NYC business writer wrote an article on Friday explaining the alleged fraud of Martin Shkreli.  It seems Shkreli is a young "master" at a VERY old game.

In macroeconomics, financial fraud is any method by which deception or duplicity induces those with money to "invest" in a scheme where they would, absent fraud, be less likely to invest.  

Frontrunning: December 22

  • Battered oil wins respite, lifts stocks (Reuters)
  • Oil Halts Decline as Emerging Market Stocks Climb on China (BBG)
  • Bonds Set to Beat Stocks Globally in 2015 After China Falters (BBG)
  • SpaceX Falcon rocket nails safe landing in pivotal space feat (Reuters)
  • China Leaders Flag More Stimulus After Top Economic Meeting (BBG)
  • SEC to Retrench Case Against SAC’s Steven A. Cohen (WSJ)
  • Bumpy year drags U.S. share listings back to 2009 levels (Reuters)
  • Deutsche Bank Tally of Suspect Russia Trades at $10 Billion (BBG)

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