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. The focus going forward must be on the source of the problem. That is the United States and not OPEC.
As Saudi Arabia readies a Syrian ground invasion, there are competing accounts of just who destroyed 9 targets in Aleppo on Wednesday. While The Pentagon says Moscow hit the city's two main hospitals, The Kremlin claims two US Air Force A-10 attack planes carried out the strikes which raises the following question: is the US set to conduct airstrikes in support of the rebels, thus marking a fresh and exceptionally dangerous escalation of hostilities in the country?
Saudi Arabia and Turkey are both pushed into a corner over the shifting power base in the Middle East. The paranoia and desperation, like Saddam in 1990, could very well cause both countries to commit to the very act of aggression which will lead to their ultimate demise and removal from a position of influence within the region. Are we on the verge of another war?
WTI keeps dead-cat-bouncing thanks to the algos and crashing thanks to reality. This morning's reality check on the overnight ramp comes courtesy of a double-whammy from Goldman ("wouldn't be surprised to see WTI in the teens") and The IEA which increased its estimate of excess-supply drastically. This has dragged WTI back below $30 once again and where oil goes, stocks go...
With China offline for the rest of the week, global markets have found a new Asian bogeyman in the face of Japan which as reported last night saw its markets crash, and the Yen soar, showing that less than 2 weeks after the BOJ unveiled NIRP, yet another central bank has lost control.
The only leverage the ‘Sultan’ may enjoy at the moment. From Brussels to Berlin, sound minds are terrified that the EU is now actually hostage to Erdogan’s Kurd “priority”, while Ankara is doing next to nothing to fight massive migrant smuggling. And that explains German Chancellor Angela Merkel’s own desperation. How could the alleged most powerful politician in Europe falls for such a crude extortion racket? The ‘Sultan’ wants a lot of cash, a lot of concessions, and even a further shot at entering the EU. Otherwise, he won’t turn off the tap on the grim refugee flood. No wonder the regime change rumor mill is frantic. In Ankara? No; in Berlin.
Someone didn’t read the refugee pool rules cartoon...
Back then I was a true believer, trusting that the government was a force for good "making the world safe for democracy..." But that night it all changed.
"They'll Return To Their Countries In A Wooden Coffin": Iran, Syria Warn Saudis, Turks Against Ground TroopsSubmitted by Tyler Durden on 02/06/2016 15:51 -0500
"This will be like a coup de grace for them. Apparently, they see no other way but this, and if this is the case, then their fate is sealed.”
The announcement that China will start targeting the yuan against a basket of currencies and not the dollar is consistent with the strategy of undermining the dollar's value. While the view of a looming Yuan devaluation seems almost universal, GoldMoney's Alasdair Macleod warns instead that something else may be a foot - China will sell her dollars not to protect the yuan, but to dispose of an overvalued currency.
"Across the whole country, a pogrom mood prevails that is gathering an explosive intensity."
Proxy war no more. Saudi Arabia and Iran are set to have troops fighting in the same country.
Conspiracies are real. There are many more of them than people are aware. Many government conspiracies are heavily documented by governments themselves with the official records demonstrating the conspiracies openly available to the public. These conspiracies alone are sufficient to chastise those uninformed Western peoples who go around saying, “our government would never kill its own people." False flag attacks are used by governments in order to pursue secret agendas that they cannot publicly acknowledge. It is late in the game. If you do not stand up for truth, you will have no freedom as there is no freedom without truth.
Amongst all corrupt aristocracies (and that’s every aristocracy), America’s takes the cake. The International Criminal Court will begin to have credibility if and when it starts to prosecute American leaders such as George W. Bush and Barack Obama, but not a minute before that time. Western gangsters lead the world right now, and Western political leaders are their agents — merely fixers, for those elite gangsters.
"The same way that Scotland, Catalonia and Quebec and other places have the right to express their opinions about their destiny, Kurdistan too has the right, and it's non-negotiable."