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Crude Surges Past $100 As Cairo Death Toll Rises
Following Mursi's TV and Twitter statement earlier, when WTI crude futures re-opened and immediately started to accelerate higher, breaking decisively through the Maginot Line of $100 (on their way to $4.00 gas at the pump in the US). The tensions are escalating between pro- and anti-Mursi protesters as Reuters reports 3 more dead and a further 90 wounded today.
FLASH: In clashes at Cairo university, 3 dead and about 90 wounded - Egyptian health ministry
— Reuters India (@ReutersIndia) July 2, 2013
How serious is this? Well credit markets appear to think twice as serious as Mubarak's overthrow...
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Crude broke out in JPY a few months ago.
Crude has been cranking up bullish for a long time.
What news?
IT'S DEEFLAYSHUN!! RUN!
We're all gonna DIE!!!!!!
Embarrassing.
Buy the Fukin Dip. LOL It must be so until all the Central Bankster's Tanker's Full are Gone. LOL again. Reality Hurts. Yup.
Update: WTI trades above 101.30 time to go to work.
MEMO
FROM: The Bernanke
TO: Guy in Eccles Building with all the taxpayer dollars
RE: Decree from on High
___________
Naked short energy futures to maintain illusion of our control into quaint holiday. EOM
Who was responsible for the building of the "suez canal"? I got Junked, so I respectfully defer.
NOTE: Keep it short and sweet.
Egypt will soon be up in flames with the viability of the Suez Canal threatened. The beginning of the Middle East conflagration and $4 gas. Did anyone see those Syrian rebels beheading a Catholic Priest, utterly reprehensible.
Those Syrian rebels are CANNIBALS and not just terrorists. May they never succeed.
"The enemy of your enemy is often also your enemy." - anyone with half a brain cell.
"I'll watch while my enemies fight it out."
-Me
"I'm not altogether on anybody's side because no one is altogether on my side."
-Treebeard
John McCain could learn a thing or two from you.
Would be interesting to get that lunatic useless pilot politician McCains take on that 14 yr old boy executed in front of his mother and brothers by his FSA buddies hey.McCain represents all the worst qualities one could find in a human being.
And i bet the cunt squealed like a stuck pig to the North Vietnamese without any coercion.
Of course he did. Why do you think he's in Congress now?
yea but----they're Obama's cannibals--so pleasse refrain from harsh comments.
They need EBT cards, stat!
"yea but----they're Obama's cannibals--so pleasse refrain from harsh comments."
Lest you forget the idiocracy of the Red Team/Blue Team paradigm, they are also McCain's people.
I wonder if Chalky asked them to cook him first?
There is something really Satanic about Chalky: those reports of him watching the drone snuff films over and over, his handling of the deck of death- the cards he chooses the drone strikes from, and now these fsa cannibals.
Something Evil this way comes.
Watch the guy's eyes closely, sometimes it's the same look Hitler had during films of his speeches.
And he passes the gaydar test according to some friends of mine
Does anyone have a credible link proving that that faction of beheading Islamists received support from our government? Not disputing veracity, just would like to see verifiable smoking gun.
I'm short consumer discretionary & long body bags.
$120- here we come.
Fuck you CIA, DoD, Mi6 and all you other spooks!
and you too, you fucker that junked me
That was Bernanke. Evidently he was not pleased that you didn't give him a shout out.
Please. Allow me:
FUCK YOU, BERNANKE!!
$100 plus oil + ObammyCare = 2cnd Great Depression. Yes we can! We's already did, Dog!
I sure hope banks plunge but they are holding up well so far.
It will take a lot more. It will have to be over $150 + /barrel to ding the Obama admin.
He's the messiah to so many liberals.
Week's half done and Commodities don't close on anyone's holiday. I predict hang overs and ETN's going bust in a chain reaction. If the people of egypt want the pain to stop. They should wreck the pumps systems in the canal. Stop the oil. Stop the pain. Turn off the power. Turn off the rest of it.
Then see who blinks. Once the zerg starts.
gas prices are surely going up now- the bubblehead on the local NBC Chicago news tonight said that prices are dropping to assure the sheep and get them to start running up the credit cards again- that happens every time gas prices resume their ramp up-EVERY TIME.
SHOCKER.
What did those stupid Egyptians think they were going to get during the arab uprising and their revolution?
Thomas Jefferson? John Adams?
HEELLLLOOOO it's fucking AFRICA and it's full of radicalized muslims. LOFL
50/50 they throw Mursi out and get an even worse muslim dictator.
I'd give that a 50% chance of panning out...
Maybe they'll get lucky and Obama will take direct control...
For their sake I hope not. I wouldn't wish that on the citizens of any other country.
-Guy with first hand experience.
Not meaning to ignore the human tragedy (with most of us 1000s of miles away), but it seems the algos have wanted an excuse for another leg down, but given force of habit, they instead find late day and mid morning pockets to ramp. It's as if they look at each other, shrug their shoulders and say "hey, this is what we do." I've long thought the proverbial 'exogenous shock' might be needed for the code to be revamped, replacing some of the 'buys' with 'sells' and so, with a holiday-shortened week and a bunch of Thursday data pushed back to Wed., perhaps these events will provide the cover for the takedown they secretly covet.
just in time to shear more Amer-I-Cans' wallets on the july 4th holidays.
tip from tip: stay at home and fire up the grill. use no petrol and declare your own independence (symbolic only of course, but it's a start).
uhhhh so what do we fire up the grill with?
sticks and stones.
and a small fresnel lens
:)
Flint, Steel and tinder...
I am told high rates fix inflation by various people on TV. Yet, this mythological connection is once again shown to be the exact opposite of truth. Egypt appears to be hating the inflated life with high rates.
What is Brent doing? Watch the spread to get at the fundamentals....
104.50 vs 100.50.
thx...
Ummm...Spread is still tightening....
It's NY based specs looking to be positioned long into the weekend, real concern over Egypt would have the spread flat or widening...
Please remember:
It is a collateral based system
Not much treasuries left, then oil becomes collateral. Egypt is like a cover.
It would have happened regardless.
There's nothing like crude oin in hyperinflation to halt QE abruptly.
Anyday, anyday now, anyday
you mean the banks pledge the oil they are holding for more Bernanke bucks? If not, please explain.
They have been doing it since the old Standard oil days with the rockefelers, rothchilds..................
same ole thing get control of the oil and control the world. It ain't new.
Vote UP to not get gas at the pump this weekend.....Come on people, standup ......Less driving and let them FEEL the PAIN.....
We already are choking on gasoline. Not stopping the price
this is not the oil shock i have been waiting for but the big one IS coming
DXY is super bid, China/Japan liquidity/bond spreads should blow out. Eye Nikkei 14000 Japan's PPT will try and hold.
Alcoa retorts (reports) on Monday the 8Th. Is it just me? iIs there some $ making opportunities over the next 3 days?
Long Live the "Cheeze Pope".
Quick, to the FAZmobile!
I think we got our bounce. But FMS, the world is so f*cked up! Gotta be a sell on now. I'm watching money printing into FX and equities (Fed/ECB/BoJ) they'll try and draw the line. But no one is giving up on hording USDs. Even some backwater sh*thole in the middle east would be stock piling greenbacks.
Strange days
http://youtu.be/-NSz-9qqgKE
If we can just kill enough people, we won't need that much oil.
Fuck, I'm a genius.
You're not all that bright, but bright enough. Your policy is correct, but I'm confident you didn't realize you were talking about billions.
That's how many will be killed to have enough oil. Billions. Of people. Not dollars. People.
And mostly white people. Not brown people. Turnabout. The brown people live close to their food. The white people get theirs delivered by truck.
Egypt gets theirs shipped in, they couldn't feed half the country otherwise.
Can't wait to see those Camel charges again in Tahrir Sq... it's going to get uugly!.
Bread Helmets, BitCheZ!
Wrap your melon in some sour dough and get busy!
How about the speculators wait for something to actually happen to restrict supply before running the price up.
Yeah like that would fucking happen. This way they get to jack WTI up to $110 or so and then when nothing happens they can allow crude to fall to $105 and pocket their gains from $95.
Like everything its just another fucking scam and rape of the American consumer. There is more than enough supply to keep gas at $3.00 a gallon. If Ofucker in Chief puts an export ban on refined petroleum, watch gas prices plummet to $2 a gallon.
If the Arabs want to mess around and close off the Suez, then we'll close off our exports of refined fuel. BUT OH NO WHAT WOULD THAT DO TO STOCK PRICES!!!!!! Since the US is now a net exported of refined petroleum, that just wouldn't be good for margins.
Why are people excited about $4 gas? It is already $4.15 here in Silicon Valley. $5 gas would be needed to catch anyone's attention in this locale. I expect we'll get it, too.
So the big question is, how is Egypt going to FEED all of those people. That is what this is all about; food prices and the end of domestic oil subsidies. There sure are a lot of Egyptians; even a billion here and there from us and the IMF is not going to do it. Papering over a demographic disaster, just briefly.
Egypt will be fed on the printed money from the USofAID.
$5 gas is already a reality (has been for a LONG time) in some parts of the world that SUPPLY the USofAID with oil... and it ain't Saudi who pumps the most oil to you.
North America couldn't give a flying rat's ass about the Middle East. Now, ask them about Kim's baby and you've got yourself an audience!
Obunghole should be ecstatic over this. Less carbon in the air.
Crude oil to nearly $102 now. Ouch!
Israel should be returned the Sinai and given the Suez Canal in order to ensure the safe passage of vessels.
During the 8 years the IOF had the Sinai, there was no safe passage. The canal was closed.