Submitted by Arthur Berman via OilPrice.com,
An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the same price increase as an actual cut.
Bad News About The Oil Over-Supply from IEA and EIA
Russian Prime Minister Dmitry Medvedev has issued a stark warning on Thursday saying that if Arab forces enter Syria they will spark a “new world war”, urging them to attend ceasefire talks instead. “The Americans and our Arab partners must think well: do they want a permanent war?” he told Germany’s Handelsblatt newspaper.
Following the biggest one-day surge in the price of gold since 2009, it is understandable that suddenly everyone who until recently was predicting the price of gold in the triple digits, or laughably explaining why "gold is doomed" wants to talk about the "pet rock." As we showed earlier, already Goldman and Bank of America have opined with new and upwardly mobile "price targets", while the scramble to obtain gold in a world drowning not only in negative rates but soon, cash bans, has already been unleashed.
David Rockefeller is a part of American history and the only billionaire in the world who is over 100 years old. The richest oldest man on the planet is due to turn 101 in June. He is part of a family dynasty whose name is associated with America and has become legend. His grandfather John D Rockefeller who died in 1937 was the founder of Standard Oil and the world’s richest individual. The name Rockefeller has been associated with wealth, power, politics, finance, diplomacy, philanthropy, marijuana prohibition, aliens, UFO’s and conspiracy theories.
Via ChicagoStockTrading.com,
In December’s article “The Yellen that Stole Christmas”, the point was to show how buyers in the SP500 were caught above 2040, and needed a Yellen rescue. The market attempted to breakout to start December, however the rug was pulled from underneath as Yellen reiterated a rate cut later in the month. After bluffing the market for 2 years on this rate cut, the call fell on many deaf ears.