Iraq

This is where the Fed. now finds itself. Here they were. Just holding policy lines doing what they in their Ivory Tower contemplated and the so-called “smart crowd” insisted they do. And now the saying of “Between a rock and a hard place” might be an understatement. The world sits atop a tinderbox fueled by monetary policies that created them and awaits a match that could set it off in a blaze of who knows what. All in short order. Unless they don’t do anything except try their best Draghi impersonation and declare, “They too are once again at the ready to do what ever it takes!” Except – just not now.

"The truth is that persons with evil intent know exactly what to do when they come here. That information spreads like wildfire. These new border controls are there for the sole purpose of reassuring the public. They have absolutely no effect on the influx of migrants."

What stinks in Saudi Arabia ain’t the camel dung. It’s the monarchy of King Salman and his hot-headed son, Prince Salman. For decades they have financed terrorism under a fake religious disguise, to advance their private plutocratic agenda. It has nothing to do with religion and everything to do with money and oil. Saudi control of that oil wealth (from Iraq to Syria) via their ISIS agents, along with her clear plan to take out the US shale oil competition, or so Riyadh reckons, would make the Saudi monarchy a vastly richer state.

Calling for a moratorium on Muslim immigration “until our country’s representatives can figure out what the hell is going on,” Donald Trump this week ignited a firestorm of historic proportions. As all the old hate words - xenophobe, racist, bigot - have lost their electric charge from overuse, and Trump was being called a fascist demagogue and compared to Hitler and Mussolini. Why the hysteria? Comes the reply: Trump’s call for a temporary ban on Muslim immigration tramples all over “American values” and everything we stand for, including the Constitution. But is this really true? In fact, is this move a well thought out cunning plan?

"As the leader of a military brigade, I am not fully satisfied with the government's action, and we are here to say that Iraq's patience has run out."

"We call on the Security Council to demand that Turkey withdraw its forces immediately and not to violate Iraqi sovereignty again."

The Energy names in the S&P 500 haven't broken their August lows in the recent downdraft for the group. That’s surprising for two reasons: first, spot crude prices certainly have – $36.52 today versus a $39.65 low on August 24th; and second, December is typically the month where investors harvest tax losses by selling losing positions and the Energy sector has a bumper crop of such candidates.

This afternoon we got another completely amorphous claim from The Pentagon regarding the death of a “senior” ISIS commander when Special Presidential Envoy for the Global Coalition to Counter ISIL (whatever that is) Brett McGurk took to Twiiter to announce the death of an Islamic State FinMin.

"The United States is prepared to assist the Iraqi Army with additional unique capabilities to help them finish the job, including attack helicopters and accompanying advisers."

"By the time we figure out how to stop that, ISIS will have the next thing. They use tricks. Always they are a step ahead of you, no matter how smart you are."

The latest confirmation that the oil cartel formerly known as OPEC is effectively non-existent, came a little over an hour ago when in its latest November monthly report, the Organization of Petroleum Exporting Countries reported that total monthly crude output for the member nations rose to 31.695 million barrels per day, the highest amount produced in three and a half years.

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With Turkey and Iraq still at odds over the former's deployment of between 150 and 300 troops along with two dozen tanks to Bashiqa, Russia told the Security Council on Tuesday that Ankara is acting "recklessly and inexplicably." Of course Moscow has a powerful friend among the five permanent members and on Wdnesday, Beijing weighed in on the Turkish troop issue for the first time.

“The government and parliament need to review the agreement signed with the United States on security because the United States does not seriously care about its fulfillment, We demand that it be annulled." 

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