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How The Federal Reserve Is Purposely Attacking Savers

There's something we 'regular' citizens wrestle with that the elites never seem to: a sense of moral duty.



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Ottawa Shooter Idenfitied As Canadian National Michael Zehaf Bibeau, Whose Passport Was Recently Seized

Moments ago CBS News reported, citing Law enforcement and U.S. Government sources, that the shooter in today's tragic Ottawa incident was Michael Abdul Zehaf Bibeau, born in Canada in 1982. One source says he sometime dropped the name Michael and went by Abdul Zehaf Bibeau. At other times he apparently dropped the Abdul. In a report from the Muslim Issue, Zehaf-Bibeau is said to be reportedly of Algerian descent.



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Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil

With the US Shale Oil industry up in arms, Venezuela screaming, and Russia awkwardly quiet (as the Ruble slides with the falling oil price stabilizing domestic inflows), the 'secret' Saudi-US oil deal that pressured prices for crude down to $80 (18-month lows today) has 'hurt' a lot of the world's producer nations. However, as Bloomberg reports, there is one nation that is very grateful. The number of supertankers sailing toward China’s ports surged to a nine-month high as over 80 very large crude carriers (VLCCs) - the industry’s biggest ships - sail toward the Asian country’s ports. At an average of 2 million barrels each, the 160 million barrels will help refill China's 727 million barrel SPR which it started in 2012.



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It Will Take 398,879,561 Years To Pay Off The US Government's Debt

The US government’s debt is getting close to reaching another round number - $18 trillion. It currently stands at more than $17.9 trillion. But what does that really mean? The Social Security Administration just released data for the average yearly salary in the US in fiscal year that just ended. It stands at $44,888.16. The current debt level of over $17.9 trillion would thus take more than 398 million years of working at the average wage to pay off.



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7.6 Billion Reasons Why The US 'War On Drugs' In Afghanistan Failed (In 1 Chart)

The US Embassy in Kabul, Afghanistan is "disappointed," according the statement department latter below, responding to the Special Investigator General for Afghanistan Reconstruction (SIGAR) findings over poppy cultivation in the troubled nation. Simply put, despite the United States spending approximately $7.6 billion on counternarcotics efforts in Afghanistan (as of June 30, 2014), opium poppy cultivation levels in Afghanistan hit an all-time high in 2013 (with a 50% rise last year alone). Of course, like any good government agency, deny and blame someone else, as the DOD went on to state that "the failure to reduce poppy cultivation and increase eradication is due to the lack of Afghan government support for the effort."



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Caught On Tape - Some Folks Jumped The White House Fence, Again

Just weeks after WhiteHouseFenceJumperGate saw the head of the Secret Service dispatched - having been disappointed not to be able to implement her reforms that would ensure the safety of the White House, the agency reports:

*MAN STOPPED AFTER JUMPING WHITE HOUSE FENCE: SECRET SERVICE

What is worse - much worse - is this african-american chap proceeds to kick and harass the guard dogs sent to dispatch him... an egregious act in anyone's book.



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Central Banker Admits Central Bank Policy Leads To Wealth Inequality

Six years after QE started, and just about the time when we for the first time said that the primary consequence of QE would be unprecedented wealth and class inequality (in addition to fiat collapse, even if that particular bridge has not yet been crossed), even the central banks themselves - the very institutions that unleashed QE - are now admitting that the record wealth disparity in the world - surpassing that of the Great Depression and even pre-French revolution France - is caused by "monetary policy", i.e., QE.



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Goldman Explains 'The Road To Recovery' In 1 Simple Chart

Seven years after the start of the financial crisis, economic and financial conditions remain far from normal. In the ‘Wonderland’ of near-zero interest rates, many of the traditional relationships that have governed the way in which markets and cycles evolve have broken; the value of historical analysis has weakened. In Goldman's view, there are three very different near-term paths that economies and markets can now follow, and that imply very different outcomes for financial markets... (What GS realizes, in short, is The Fed is entirely boxed-in)



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Mapping China's Bursting Real Estate Bubble

With global growth concerns on the rise, whether a bust in the Chinese housing sector could threaten the economic activity and financial stability of the world’s largest contributor to growth is top of mind for Goldman Sachs. As Michael Pettis warns, "this story only has a few possible endings, all of which imply a significant reduction in economic growth as debt problems are addressed." The following 3 charts suggest Pettis is right...



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Is This Why Stocks Closed Not "Off The Lows"?

"We play the “Great Game” as we have been taught and as we have learned, being reticent about following inordinate strength and/or inordinate weakness; holding as best we can to major trends and always remembering that in a bull market… and this does still remain a global bull market… there are but three positions one may have:  Aggressively long of equities; “pleasantly” long of equities, and neutral of them." - Dennis Gartman



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Tennessee Woman Sentenced To Jail For Not Mowing Her Lawn

The trend of average U.S. citizens being incarcerated by overzealous judges and prosecutors within the police state formerly known as America continues with reckless abandon.



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The Last Days Of The Growth Story

Most of us have heard of the seven stages of grief. Shock, Denial, Anger, Bargaining, Guilt, Depression, Acceptance. Where are we in our journey through these stages when it come to the financial crisis, and to growth? There’s only one stage that even remotely sounds right: Denial. We’re not even close to Anger yet, not when it comes to the larger population. We simply deny that something has really changed. And even if you wish to claim that it hasn’t, no-one can deny the possibility that it has. Still, that is exactly what happens. Denial, everywhere you look. Freud’s ideas are (ab)used to hide reality from us (to ‘sell’ the message), while Keynes’ ideas are abused to hide the reality that you can’t buy growth with debt your children will have to pay back. Pretty simple, when you think about it.



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Stocks Drop On Oil Dump & ECB Reality-Check

While some pointed north to the aweful events in Ottowa, it appears the bigger driver of weakness in stocks today (aside from a sudden absence of broken VIX markets, a lack of Fed Speakers, and the truth about ECB bond-buying being exposed) was the plunge in crude oil. WTI tumbled from over $83 to a low $80 handle after inventories surged more than expected and that appeared the catalyst for equities to catch down to credit weakness. Treasury yields closed the day unchanged but sold off notably in the EU session (like yesterday). The USDollar strengthened for the 2nd day in a row (now up 0.55% on the week) on EUR weakness (CAD volatile around shootings), weighing on commodities. Silver was monkey-hammered early, copper and gold slid, then oil plunged (down 2% on the week). Yesterday's big winner Trannies tumbled the most today (-2%) as stocks gave up half the week's gains today.



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Canadian Capital On Lock Down As A Result Of Ongoing "Terrorist" Shooting Incident - Live Webcast

RCMP Press Conference at 2pmET - Live Feed

Two days after two Canadian soldiers were hit by a car driven by Martin Couture-Rouleau, a 25-year-old Canadian who, as The Globe and Mail reported, "converted to Islam recently and called himself Ahmad Rouleau."

At least two people are injured, including a soldier, after shots were fired in the Parliamentary precinct in Ottawa on Wednesday morning; one shooter is dead and police suspect as many as two others are on the loose. A dark-clothed gunman fired the shots just before 10 a.m. at the Canadian War Memorial, where a uniformed soldier was shot. The gunman then fled for Parliament Hill, where he unleashed more gunfire inside Centre Block. A security guard was injured before the sergeant-at-arms shot the suspect dead, according to multiple reports. Ottawa Police said there was also an incident near the Rideau Centre, a large mall metres from Parliament Hill. Still active shooter, 3 separate shooting sites, Multiple gunmen, 1 gunmen dead, soldier dead



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Saudi Cleric Blasts Twitter As "Source Of All Evil" As Riyal Slides To Lowest Since 2008

The last 2 days have seen enormous volatility in the Saudi Riyal exchange rate, purportedly oil-related FX hedging programs as the SAR dropped to its lowest sicne Dec 2008, but the most extreme 'moves' were left to The Kingdon's top Muslim cleric. As The BBC reports, Sheikh Abdul Aziz al-Sheikh, the Grand Mufti of Saudi Arabia, exclaimed that Twitter is "the source of all evil and devastation". As the 12th most influential Muslim in the world, it perhaps matters that he says users were using Twitter to "promote lies, backbite and gossip and to slander Islam," but citizens of Saudi Arabia, who are some of the heaviest users of Twitter, did not appreciate his remarks, summe dup by one tweet, "People need an outlet to express themselves, to start to disclose what's hidden and drop the masks, without fear or commands, or censorship from anyone."



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