from ITM Trading:
Why America is the new Middle East in terms of oil production: World’s largest reserves just discovered under Texas
by Ethan Huff, Natural News:
For the first time since 1973, the United States now leads the world in terms of oil production. And according to reports, we have the ground underneath Western Texas and Eastern New Mexico to thank.
A new assessment by the U.S. Geological Survey (USGS) estimates that untapped regions of what’s known as the Delaware Basin, a component of the greater Permian Basin, contain 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids – an amount two times larger than what was estimated in a 2016 assessment of just the Wolfcamp shale play in Permian’s Midland Basin.
Two-Thirds Of Americans Think That They Are Middle Class – But Millions Of Them Are Dead Wrong
by Michael Snyder, The Economic Collapse Blog:
The middle class has been steadily shrinking, but most Americans still believe that they are a part of it. Perhaps this is due at least in part to the egalitarian values which have been pounded into our heads for most of our lives. Very few Americans would have the gall to define themselves as “upper class”, and I have never met anyone that would describe themselves as “lower class”. In place of “lower class”, many politicians now like to use the much more politically correct term “working class”, but a more apt description might be “the working poor”. Today, half of all American workers make less than $30,533 a year, and you certainly cannot support a middle class lifestyle for a family with children on that kind of income.
USA MARKETS AFTER BEING UP OVER 400 POINTS RETREAT AGAIN AS THE DOW ENDS AT ONLY UP 159 POINTS
by Harvey Organ, Harvey Organ Blog:
GOLD UP $3.05 TO $1245.00 BUT THE BIG WINNER WAS SILVER : UP 22 CENTS/GLD ADDS ANOTHER 3.24 TONNES OF GOLD INTO ITS INVENTORY/GOLDMAN SACHS DEALER AND A CUSTOMER OF JPMORGAN CONTINUE TO RECEIVE (STOP) MOST OF THE DEC GOLD CONTRACTS/QUEUE JUMPING RETURNS TO BOTH THE GOLD COMEX AND THE SILVER COMEX/BAIL SET FOR HUAWEI CFO AT 10 MILLION DOLLARS BUT SHE MUST STAY IN CANADA WAITING FOR EXTRADITION/MICHAEL COHEN SENTENCED TO 3 YRS IN PRISON/NATIONAL ENQUIRER NOW ADMITS CATCH AND KILL SCHEME WITH TRUMP/COHEN AND MCDOUGAL/FRANCE IN A MESS AS RIOTS CONTINUE PLUS A SHOOTER ON THE LOOSE/ITALY’S TOP GOVERNMENT OFFICIALS DENIES STORY THAT THEY WILL SETTLE WITH A SUB 2% DEFICIT TO GDP
It Is A Fact That History Repeats Itself
by David Schectman, Miles Franklin:
If one offered investors a fat tail put option that never decays or expires, costs about -1% pa to carry, has no counter party risk & no chance of ever becoming worthless, there would be a line out the door. But when one explains that this option is physical gold… no interest. – JSMineset
For a decade our stock market has gone up and up. All corrections were short-lived and a move to higher levels was always in the cards. In contrast, gold/silver have retreated from their 2011 all-time highs for 7 plus years … either retreating, going sideways, or failing to recover to any meaningful areas and holding them. In general exiting positions in our stock market to enter the precious metals arena has not paid off … with a few exceptions, of course. The point is that should our stock market go into an extended bear market, it is likely to send a wave of investors from the US into the dormant precious metals.
Yield Curve Poised to Invert – Where Will Fed Go From Here?
by Birch Gold Group, via Alt Market:
Looks like the yield curve the Fed swept under the rug back in June continues to prove itself a reliable potential signal for market correction.
On Tuesday, the Dow Jones continued to trend downward since October 3, dropping 800 points. After a tumultuous ride on Thursday, the index ended the week on Friday by dropping another 550 points.
An article over at MarketWatch highlighted the yield curve between 2-year and 10-year treasury notes as one potential signal of Tuesday’s drastic drop:
UAE Central Bank, Saudi Arabia to Develop Joint Cryptocurrency for Interbank Transactions
by Adrian Zmudzinski, Coin Telegraph:
The United Arab Emirates’ (UAE) central bank is collaborating with the Saudi Arabian Monetary Authority (SAMA) to issue a cryptocurrency accepted in cross-border transactions between the two countries. English-language Dubai-based media outlet GulfNews reported on this collaboration on Dec. 12.
Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said during a meeting on the global banking standards and regulation for the Arab region that:
