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When the 'Land of the Rising Sun' jumps into the abyss...

It was recently written in the Washington Post that many Shia Iraqis harbor the conspiratorial belief the US created the Islamic State to destroy Iraq.  Conspiracy theory becomes conspiracy fact. 

Eren Erdem, the Turkish opposition lawmaker who says ISIS obtained deadly sarin gas from Turkey and who also claims to have proof of Erdogan's role in Islamic State's lucrative oil smuggling business is now under investigation for treason. Just another day in Erdogan's thriving, NATO-backed democracy. 

While campaigning ahead of elections, Spanish prime minister Mariano Rajoy was rocked with a right cross when a "selfie-seeking teen" approached and went full Balboa on the side of his face, breaking his glasses, before Rajoy's security detail wrestled the assailant to the floor. As El-Pais reports, the 17-year-old told police "I'm very happy I did it," while Rajoy later tweeted that he "was fine." It appears it is time for a European ban on teenagers (who are suffering massive unemployment) and fists.

Grant Williams is very skeptical of the Fed’s ability to continue to control markets much longer.

"We think carefully about which companies we sell addresses to, but how their customers use this internet connection is beyond our control"...

Judging by his prime-time speech last week, the final year of Barack Obama’s presidency will be marked by increased militarism abroad and authoritarianism at home. The centerpiece of the president’s speech was his demand for a new law forbidding anyone on the federal government’s terrorist watch list from purchasing a firearm. There has never been a mass shooter who was on the terrorist watch list, so this proposal will not increase security. However, it will decrease liberty.

Jim Cramer - of all people - warned about this in 2007: watch the video inside!

Tennessee Senator Bob Corker may have forgotten to disclose a few things. Like millions in hedge fund investments. And millions in real estate investments. And millions in "other" investments. He's "extremely disappointed" in someone, although it wasn't immediately clear if it was himself.

There is no cure for low natural gas prices like low natural gas prices.

If You Think It's Muslims Versus Jews and Christians, You're Being Played ...

- Watch video - “Monetary insanity” of ECB and Fed is “frightening”
- “Absolutely nothing has been learned” since financial crisis
- “Financial hypocrisy on a grand scale”
- Ireland was vassal of Bank of England and now ECB
- Ireland needs to get “financial and monetary independence”
- Huge demand for gold and yet prices manipulated lower
- Real unemployment is U.S. probably 15-20%
- Dollar may rally in short term but vulnerable in long term
- Russia, China may monetise gold as geopolitical weapon
- Gold and silver are “hedges for you in local currency terms”

• Oil prices drop towards 11-year lows on worsening glut (Reuters)
• Third Avenue Seen by Top Investors as Fueling More Carnage (BBG)
• Lucidus Has Liquidated $900 Million Credit Funds, Plans to Shut (BBG)
• Investor nerves tested with yuan, oil, Fed in play (Reuters)
• Junk Bonds Stagger as Funds Flee (WSJ)
• Seattle lawmakers set to vote on allowing Uber, other drivers to unionize (Reuters)