It’s hard to overstate how much the petrodollar system benefits the US dollar. It’s allowed the US government and many Americans to live beyond their means for decades. And it’s the reason the media and political elite give the Saudis special treatment...
EIA confirmation of OPEC cut-compliance is trumping the dismal inventory data and surging US production for now. However, as US oil rig counts continue to rise (+8 to 591 - highest since Oct 2015) with US crude production charging ahead with it, the question many should be asking (given all-time record high net long speculative positioning in WTI/Brent) is "what will OPEC do if the market doesn't rebalance?"
"It was not we who started the war against you in 9/11, it was you and your dictators in our land... The main characteristic of any American or Western Head of State is that he must be a Machiavellian president and a professional, accomplished liar. He must be an expert in deceiving his audience and the entire nation."
Trump "broke the ice" with Chinese President Xi Jinping in a letter that marked the US president's first direct communication with the Chinese leader since he took office, in which he said he looked forward to working with him to develop relations.
The Trump administration is set to quickly approve multi-billion dollar weapons packages for Saudi Arabia and Bahrain blocked by President Obama during his final months in office over human rights concerns in both nations.
"Our problem is not called Donald Trump. And we need to stop pretending that it is. We are the problem. We allow our governments to tell our armies to bomb and drone innocent people while we watch cooking shows. We have believed, as long as we’ve been alive, whatever the media feed us, without any critical thought...The longer this braindead attitude prevails, the worse things will get..."
The U.S. imposed fresh sanctions on Iran as President Donald Trump seeks to punish Tehran for its ballistic missile program after warning the Islamic Republic that it is “playing with fire." As Bloomberg reports, the Treasury Department published a list of 13 individuals and 12 entities facing new restrictions, some for contributing to proliferation of weapons of mass destruction and others for links to terrorism.
Switzerland is the answer to those who claim that Islamic terrorism is reserved for those countries that have participated in operations against ISIS or other Muslim terror organizations. Switzerland has done neither, yet its flag figured among sixty other enemy flags shown in an ISIS propaganda video. Swiss authorities are currently investigating 480 suspected jihadists in the country.
In their words, OPEC and other oil-producing countries have scaled back their crude output as promised under last month’s historic agreement. However, today's admission that there would be no penalties for deal violators, as well as new information about Saudi motivations, suggests that the deal will soon be a distant memory.
The old order is passing away. Treaties and alliances dating from the Cold War are ceasing to be relevant and cannot long be sustained.The greater danger for President Trump is that the movement he led will be abandoned, its hopes dashed, and the agenda that Trump rejected and routed will be reimposed by a Republican Establishment and its collaborators in politics and the press.
President Maduro is correct. Venezuela’s economic woes are indeed the result of economic war and mafia attacks. But Venezuela’s political elites are the mafia, and they alone have waged a decades-long economic war on Venezuela’s people.