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Enter The NatGas Cartel

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Posted by Jim Willie CB - GoldenJackass.com

on Friday, 07 July 2017 08:04

The King Dollar is mortally wounded. Many notice but the masses seem largely unaware. Since 1971, the Gold Standard has been removed from its anchor position. But since 1973, the Petro-Dollar has taken its place. It has called for crude oil sales led by the Saudis and OPEC to be transacted in USDollar terms, for oil surpluses to be stored in USTreasury Bonds, and for some kickbacks from the Saudis to the USMilitary complex for weapons purchases. Of course, the US is ready willing and able to create strife and to foment wars whereby the Arab oil monarchs will need more weapons. Since 2014, many events have pointed to the crippled condition of the important link between the USDollar and crude oil. The price has plunged by 50% of more, and not recovered. It is currently lurching in the nether bounds near the $45 level. Anything less than $65 to $70 per barrel is very dangerous for keeping the oil sovereigns afloat and for keeping the US energy sector solvent. Witness the Wall Street banks having tremendous problems with impaired bonds and toxic energy portfolios. They seem not resolvable. They cannot keep the oil price over $50, a sign of their impotence.

Not enough financial analysts connect the new normal of a much lower crude oil price with the eventual vanishing act of the Petro-Dollar. The Wall Street banks are deeply exposed on their entire energy portfolios, which include both bonds and commercial loans. Tens of $billions will have to be written off as loss, beyond the $billions already declared as losses. These corrupt banks have worked their magic to lift the oil price above the $50 level, but failed. They worked the task for over a year, but failed. They need an oil price over $60, but failed. The Saudis did not help the cause, by their ongoing extra output to finance their filthy Yemen War. The Saudis earned the anger of their OPEC partners, especially the Gulf Arab allies. The Wall Street banks deeply resent the Saudis for this deed, but the USMilitary complex loves the Saudis. The other Arab oil producers also harbor consider rancor toward the Saudis, who really have no friends in the entire Persian Gulf region. They are so worthy of a palace coup, which would bring clamors of rejoicing in many corners of the West if it were to occur. The day might be close. 

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The Saudi warrior prince just made more enemies in-house with the push to become crown prince. The dozens of half-brothers will plot against him. Many analysts believe an internal collapse in Saudi-land cannot occur, due to control by the royals of the key factions like the military and religious center. Keep in mind that bankruptcy has a way of sweeping factions aside. A failed ARAMCO stock deal could trigger some internal battles, and reveal the bankruptcy in addition to the lies on national oil reserve wealth. The kingdom’s bankruptcy could become a major topic soon, as the Jackass has been harping on. Be on the lookout for a strange suspicious death event for the king, which could trigger violent episodes from rival half-brothers, many of whom have had their families cut out of wealth distribution (confiscation) for decades.

PETRO-DOLLAR IS DEAD



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Currency

US Dollar Bottom - Gold ICL Confirmed

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Posted by Gary Savage - Smartmoneytracker

on Wednesday, 05 July 2017 05:21

It appears the US Dollar has bottomed following an intermediate degree correction. This suggests that the dollar will rally for 6-8 weeks while gold heads lower. Gold has decisively broken down through its 200 dma. Traders are in a bull market mentality and will try to buy gold’s dips until sentiment becomes bearish. Expect gold to continue lower over the next 4- 8 weeks.

 

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Currency

US dollar getting hammered

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Posted by Jack Crooks - Currency Currents

on Wednesday, 28 June 2017 05:32

Quotable

“I sneezed and lost sight of the skylark.” --Yayu (taken from Zen in the Markets)

Commentary & Analysis

US dollar getting hammered; the pound still an open question on the spread... 

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Today, real world developments in the form of an extremely surprising bullish speech from European Central Bank President Mario Draghi triggered prevailing expectations in a very positive way for the euro—it is soaring against the dollar.

The Eurozone-United States 2- year yield spread is sharply higher with the currency; i.e. the eurozone’s 2-year yields are rising sharply today, faster than US 2-year yields, as the players show their expectation the ECB will hike sooner rather than later thanks to Mr. Draghi’s talk. The chart shows the price of EUR/USD versus the 2-year Spread...



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Currency

Sell EUR/NOK when (if) oil stops falling…

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Posted by Jack Crooks - Currency Currents

on Wednesday, 21 June 2017 07:32

Quotable

“Suiting the correct tactics and strategies to each situation may be considered the mystery of life.” -- Victor Niederhoffer, The Education of a Speculator

Commentary & Analysis

Sell EUR/NOK when (if) oil stops falling... 

Screen Shot 2017-06-21 at 6.59.27 AM

Working from the following simple model below, the Norwegian krone should be trading much better against the euro:



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Currency

Why Bitcoin Refuses to Die

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Posted by Bill Bonner - Diary of a Rogue Economiste Economist

on Tuesday, 20 June 2017 07:32

nintchdbpict000306226097Editor’s Note: The mainstream media says cryptocurrencies like bitcoin are only a fad. But Teeka Tiwari, the editor over at The Palm Beach Letter, shows us why “cryptos” are unstoppable.


On June 20, 2011, Forbes wrote “So, That’s the End of Bitcoin Then.”

On January 16, 2015, USA Today wrote “Bitcoin Is Headed to the ‘Ash Heap.’”

On May 5, 2017, The Daily Reckoning wrote “The Death of Bitcoin.”

Since 2011, bitcoin’s been declared dead at least 135 times.

Newsletter writers, journalists, and academics have called it a “Ponzi scheme.”

Others like the idea in theory but have doubts. They are convinced the government will shut down bitcoin and render it worthless.

If it were 2013, I would have agreed with them.

From 2009–13, bitcoin rallied from a fraction of a penny to over $1,100… and then spectacularly crashed 85% to $185.

It looked like a classic “pump and dump” to me. That’s why I ignored it.

But then something very interesting happened.



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