Business

Back in January 2016, Dennis Gartman said that oil would "not hit $44 during my lifetime."

Then, just a few months after oil jumped above $44, yet failed to kill the "world renowned" commodity guru, Gartman made another bold prediction: "oil is not going above $55 for years." Predictably, just over a year later, oil hit $57, the highest price in two and a half years.

Fast forward to today when we have some bad news for equity bulls and some good news for bond bulls.

Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom

Posted with permission and written by Stewart Dougherty, Inferential Analytics

“There are crooks everywhere you look now. The situation is desperate.” Final blog entry by Daphne Caruana Galizia, 53, renowned Maltese investigative reporter who specialized in exposing state corruption; posted on 16 October 2017, one day before she and her vehicle were blown to bits by a car bomb in Bidnija, Malta

Authored by Charles Hugh Smith via OfTwoMinds blog,

If the ownership of bitcoin is as concentrated as some estimate, then the liquidity issue distills down to the actions of the top tier of owners.

One day after we reported that Saudi Arabia has started to freeze the accounts of the dozens of arrested royals, ministers and businessmen, in the process allowing Mohammed bin Salman to further cement control over the Kingdom, the Kingdom has taken its "money laundering" crackdown to the next level and on Tuesday, Saudi banks have frozen more than 1,200 accounts belonging to individuals and companies in the kingdom as part of the government’s anti-corruption purge, bankers and lawyers told Reuters, adding that "the number is continuing to rise."

Crude Oil has been strong of late. Did you realize that Crude Oil has gained more in the past month than the S&P 500 has this year, see chart below.

CLICK ON CHART TO ENLARGE

The strong rally of late has Crude testing what appears to be a very important level in the chart below-