Business

For years, Ali al Naimi was the most important person in the world of oil: the former CEO of Saudi Aramco ascended to the post of Saudi oil minister in 1995, and over the past 21 years had the power to send the price of oil soaring or plunging with one word. To be sure, over the past two years it was mostly plunging because as is well-known, Saudi Arabia's policy ever since the 2014 Thanksgiving OPEC meeting in which Saudi Arabia broke off from the rest of the petroleum cartel to pursue its intention of putting US shale and high cost OPEC production out of business.

Several days ago, hedge fund legend Stan Druckenmiller spoke at the Sohn Conference, delivering what may have been his most bearish fire and brimstone sermon yet, and in fact according to some buysiders who were present, its somber mood and lack of faux optimism was downright apocalyptic.

By EconMatters

Paradigm Shifts happen throughout human evolution, are we experiencing just such a case in the automobile marketplace and Energy space? Additional Technological Breakthroughs necessary for knock out punch against the Oil Market.

https://www.youtube.com/watch?v=vKRZHkdXVco

Submitted by Mish Shedlock of MishTalk

Showdown! In Leaked Letter IMF Tells Germany “Debt Relief For Greece Or IMF Drops Out”

It’s showdown time.

The IMF has threatened it will pull out of the Greek bailout program unless Greece gets debt relief.

German Chancellor Angela Merkel, Austria, Finland, and the other Eurozone creditors will not like today’s development one bit.

Showdown!

Please consider IMF Tells Eurozone to Start Greek Debt Talks.

With blue lights flashing and a SWAT team in front of the warehouse, a black sedan pulled up. A man got out, popped the trunk, grabbed a briefcase and headed for Natalie Jewelry. Once there, the man was heard to say "I just need to drop off this gold and get a receipt. I need a receipt."

That's a first hand account of how gold was delivered to a Miami jewelry store by drug cartels, to later be melted down and sold for cash.