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Here’s What Oil Did the Last Time OPEC Cut Production

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Posted by Frank Holmes - US Global Investors

on Tuesday, 06 December 2016 08:05

COMM-Heres-What-Oil-Last-OPEC-Cut-Production-12022016

It finally happened. For the first time since 2008, the Organization of Petroleum Exporting Countries (OPEC) agreed to a crude oil production cut last week, renewing hope among producers and investors that prices can begin to recover in earnest after a protracted two-year slump, one of the worst in living memory.

The last three times the cartel agreed to trim output—in 2008, 2001 and 1998—oil rallied in the following weeks and months. Of course, there’s no guarantee the same will happen this time around, as other market forces are at play, but it’s helpful to look at the historical precedent.

OIl Historically Rallied in the Two Years Following OPEC's Agreement to Cut Production
click to enlarge

OPEC’s decision follows a strong endorsement from Goldman Sachs, which upgraded its rating on basic materials to overweight for the first time in four years. Analysts see commodities gaining 9 percent on average over the next three months, 11 percent over the next six months.

As reported by TheStreet’s Paul Whitfield, Goldman’s change of heart was prompted by “the recent acceleration in global PMIs (purchasing managers’ indexes),” which “suggests commodity markets are entering a cyclically stronger environment.” 

The JPMorgan Global Manufacturing PMI rose slightly in November to a 27-month high of 52.1, extending sector expansion for the sixth straight month—very encouraging news.



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Currency

Hyperinflation - Coming to an Indebted Democracy Near You

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Posted by Martin Armstrong - Armstrong Economics

on Thursday, 01 December 2016 11:20

Venezuelan Hyperinflation From Collapse in Confidence in Government

Venezulea-Hyperinflation

The Venezuelean hyperinflation is the direct result of what happens when the general population loses all confidence in the government. The current hyperinflation is reminiscent of Germany’s hyperinflation following World War I, which was also the result of a Communist Revolution and the overthrow of the government giving birth to the Weimar Republic.  Venezuela’s currency has become virtually worthless as was the case in Japan when the people simply refused to accept any coins issued by the Japanese government. In that instance, each new emperor devalued the outstanding money supply to 10% of his new issues. This led to Japanese accepting Chinese coins, but not Japanese.

....continue reading HERE

....related from Michael & Victor Adair:

Huge Moves - US Dollar Hits 13 Year High



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Currency

Bob Hoye: Castro’s Longest Speeches

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Posted by Bob Hoye - Institutional Advisors

on Wednesday, 30 November 2016 13:39

To the United Nations: Four hours and 29 minutes, 1960.
In Cuba: Seven hours and 10 minutes, Communist Party Congress, 1986.

                                                                      – Guinness Book of Records. 

Screen Shot 2016-11-30 at 12.28.42 PM

 

Screen Shot 2016-11-30 at 12.29.03 PM

It is said that Russians wanted to make sure he was really dead. 

 

BOB HOYE, INSTITUTIONAL ADVISORS – WEBSITE: www.institutionaladvisors.com 

 



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Currency

Huge Moves - US Dollar Hits 13 Year High

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Posted by Michael Campbell & Victor Adair

on Monday, 28 November 2016 08:09

The US dollar is up 10% since May when the Canadian Dollar made it high for the year. Victor on the huge moves in the currency markets, Gold, Stocks and interest rates and the 28% move in Copper in the last 5 weeks.

....also from Michael & Ozzie: The Hottest Properties Right Now

trader3

 



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Currency

What Investors Can Learn from Gold Priced in Yen?

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Posted by Arkadiusz Sieron

on Friday, 25 November 2016 08:13

Our Market Overview would be incomplete without remarks about gold priced in the Japanese yen. Chart 1 shows nominal gold prices denominated both in the U.S. dollar and the Japanese currency, while Chart 2 plots the indices of gold prices in these two currencies.

Chart 1: The price of gold in U.S. dollars (yellow line, right axis) and in Japanese yen (red line, left axis) from January 1979 to September 2016.

1-gold-price-us-dollar-japanese-yen

Chart 2: Indices of gold prices in the U.S. dollar (yellow line) and the Japanese yen (red line), January 1980=100.



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