A one world currency was announced and no one noticed.
The true value of gold is much higher than the spot price quoted in the market.
Analysts at Investment Banks are pretty bad in general, but the energy analysts require skillsets that fetch much higher pay in other roles in the Finance World.
We think the U.S. Dollar is undervalued going into this week on a short term basis, and should move back above 95 going into Jackson Hole`s annual monetary policy symposium Thursday and Friday.
So we thought we would settle this question once and for all so that everybody is on the same page.
With the record level of Oil production by the Saudis in July and August a freeze at these levels is absolutely meaningless and bearish for the oil market rebalancing anytime soon.
Refiners are playing games with refinery runs to make gasoline appear in less of a glut situation year over year.
There will be new legislation restricting Fed Powers after this ZIRP Monetary Experiment gone terribly wrong when the stock market crashes once again.
The Big Banks have been regulated to the point of absurdity after the 2008 financial crisis, and when the financial markets crash this time the public will need a new entity to blame.
Does Saudi Arabia cut Oil Production to help their near term budget difficulties and cede market share to the United States, Iran, Iraq and Russia or do they stay the course and try to wait for the oil market to take that next leg down.
The bottom line is that the only way the oil market rebalances in the near future is if Saudi Arabia cuts Oil Production.
Pay Attention to a Strong EIA Report that could really ignite a short squeeze in the Oil Market.
Massive Oil Imports prevented a large draw in Oil Inventories this past week, but this has been consistently happening all summer long.
Demand is not going to be enough to rebalance the oil market, we still need a major supply rebalancing, as the oil market has been oversupplied for a decade.
The Grains, and some of the Softs and Meats that have a substantial export market are getting hammered today and this week on the breakout in the US Dollar on European weakness.
Earnings are going to drive markets this week along with Housing Econ News, as well as the API and EIA Energy Reports.
We think given the devaluation history of the Turkish government and Monetary Policy Strategy that the Lira will continue to depreciate further against the US Dollar over the long haul.
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