Just as we warned, since the US export ban 'lift' loomed, so WTI prices have shifted notably, having today converged to Brent's price for first time since January. It may have a lot further to fall as some analysts suggest the lifting of the export ban "is going to end up ultimately being bearish everything."
Last week we said...
Brent-WTI set to converge as US begins exporting oil
— zerohedge (@zerohedge) December 16, 2015
Authored by Brahma Chellaney, originally posted at Project Syndicate,
Containing the scourge of Islamist terror will be impossible without containing the ideology that drives it: Wahhabism, a messianic, jihad-extolling form of Sunni fundamentalism whose international expansion has been bankrolled by oil-rich sheikhdoms, especially Saudi Arabia. That is why the newly announced Saudi-led anti-terror coalition, the Islamic Military Alliance to Fight Terrorism, should be viewed with profound skepticism.
Great comment from my friend and mentor Fred Feldkamp. Happy holidays. -- Chris
The Macroeconomics of Crises and Fraud
By Fred Feldkamp
A terrific NYC business writer wrote an article on Friday explaining the alleged fraud of Martin Shkreli. It seems Shkreli is a young "master" at a VERY old game.
In macroeconomics, financial fraud is any method by which deception or duplicity induces those with money to "invest" in a scheme where they would, absent fraud, be less likely to invest.
It has been a seesaw session with U.S.