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WTI Crude Craters To $55 Handle, High-Yield Credit Crashing-er
Having almost touched $59 overnight, WTI crude has collapsed back to a $55 handle, smashing the Ruble lower and high-yield credit spreads higher. US financial stocks are starting to weaken back towards the credit market's warnings as counterparty risk concerns spread...
Crude roundtrip to new cycle lows...
and credit markets are getting broadly infected...
as the Energy sector collapses...
Charts: Bloomberg
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Gold at 1216. Of course.
This is really crude man
Wait, wait, wait, you mean those low volume late night algo ramps mean jack shit when physical supplies, what the consumer can afford and production costs all come into conflict? Reality stomps on this shit? Well, color me not surprised.
Number one Rule: "Never put your confidence in man".
Women are probably thinking, never put your confidence in ANY MAN ha!
The sheep must be shorn but they are running out of fleece....
.... there’s a tidy profit to be had on
sheepskin (not to mention blood, mutton and bones!)
Gold at 1216. Of course.
Gold's stasis means that it is appreciating relative to all the buildings crumbling around it. And I am appreciating my stack.
Gold having a good year in other currencies especially in Ruble terms (up 75% on the year).
Double digit gains for Yen, Rand, Peso, Real.
You didn't build that, somebody else made that happen. OPEC doesn't need to cut production...... these arn't the prices you're looking for..... go about your business...... bush's fault.
https://www.youtube.com/watch?v=IGYaFMFU63U
one addition: putin's fault
Pay no attention to that man behind the curtain.....
Draghi's fault...
Let's have some deer for christmas.
<AIR HORN!!!!!!>
I shot a nice one sorry not enuf to go around maybe next time
I only had spikes and does in the crosshairs on a forked antler deer hunt this year. I would have shot a 3 point if I had come across one, but no.
Hang in there, I think they will open up bug season if this keeps up. There are some monster cockroaches in this county.
Elk is a much easier hunt in this state. I didn't draw an elk hunt this year, only deer.
"Those Magnificent Men in their Financial Machines.....They go Upptiy, Up, Up, they do Downsee down down...."
Funny, I just played that this morning as I watched TZA go uppity, up, up...
No surprise that NG closed its gap. Copper is shitting the bed now to. Wonder how many OTC contracts linked to shorting WTI price are currently being shopped around to the various pension funds/hedge funds/F500. I'm thinking we may be seeing a bottom setting and then a red rocket to $70.
OOOOOHHHH FFFUUUUUUUUUDDDDDDGGGGGGEEEE. Except I didn't say "fudge". It was the F-dash-dash-dash word.
[cut to scene with soap in mouth]
The FED can change what things look like........
ZH's should club together and order 100kilos of gold for immediate delivery... just to test the water.
I'll supply the delivery address :)
i'll supply the transportation
I'll supply the scuba gear.
I'll hold on to the only treasure map.
I'll supply the guns and ammo.
Dup
I will follow the truck and steal it. That way it will be "double blind." You know, just for safety's sake.
I'll make the purchase once you guys put the funds in my account. It' a Nigerian account BTW - thought that would be safer, keep the US gov out of our business.
I volunteer to use my boat
i have an idea for a financial product. if oil prices double the buyer gets a nifty 12.5% return but if it goes down at all you lose everything. any interest?
Sure! I'll just mitigate the risk by purchasing some insurance... :-)
Yep! And Chevron is the only DOW component in the green.
"FREE markets"!
CVX back in red, but good ol' XOM has been green all day.
Crude jumps 50c in 7 minutes. Look for some new news.
http://www.investing.com/commodities/crude-oil-advanced-chart
WoW
Kur-plunk
Perpetual levitating pings being outgunned by a darker power.
Texas TP
This is now all FDIC insured.
They better start passing that collection hat...
Like...Depends ?
There must be a lot of those over there these days.
Maybe all day meetings with no breaks...heh.
If they want money from me for this fiasco they will have to "kiss the bunny between the ears".
Congress should have restored the Postal Savings System in 2008 and reserved the FDIC for the Postal Bank alone.
Ill bet that most of the losses made will fall under the just passed "let the taxpayer food the bill for our gamble" bill.
It's a trap!
crystal ball sees 'peace talks' in Ukraine in the very near future; and with lowering of tensions in the ukraine, oil should go _____
the gallow glass is cracking
it's starting to smash
how can you cry
without blinking a lash
...CARS
additionally, a 7% SURGE in oil prices will mean all is well again; add to examples of dead cat bounce.
its funny, numbers that is. 55 x 1.07= 58.85 still 40% off highs, but then we can say consumers win and the oil industry b/c $60 oil is so profitable
http://dallasrichard.tumblr.com/image/104968314041
A man goes into a Vegas casino and places a bet,100X leveraged with taxpayer money.
He wins and keeps everything.He loses and the taxpayer shoulders the losses (FDIC insured!!)
Also, the banks scream about deregulation,but yell for a bailout when they lose 2%.
Why is this different from a common pyramid scheme?
Was Lehman allowed to fail to warn rogue banks to stay on the script,stampede the Congress,or both?
What is triggering the metals straight down?
Being priced in monopoly money which can be manipulated very easily. Never cared for the pixilated price myself, unless it was to sell paper shorts.
12pm buy program kicked in, lets see how the short juicing goes.....
Did ZH report on the today's rubla blow? 11% d/d change....what mr putin is saying about it?
I am pretty sure, RT still shows crude at 100 and USDRUB and 40:))))
"Ladies and gentlemen... I've traveled over half our state to be here tonight. I couldn't get away sooner because my new well was coming in at Coyote Hills and I had to see about it. That well is now flowing at two thousand barrels and it's paying me an income of five thousand dollars a week. I have two others drilling and I have sixteen producing at Antelope; so, ladies and gentlemen, if I say I'm an oil man, you will agree."
Turned out well for him, too. (OK, bad pun.)
Time to buy some rubles? I cannot imagine Vlad will let this keep going.
TPTB in Russia (i.e. Putin) could peg their currency to USD anytime they want. There is a deeper game here. On one hand, the profits of the exporters are not affected by the collapsing ruble. But I suspect that Putin is just looking for a reason to replace the entire management of the Russian Central Bank with more "reliable" people. A collapsing ruble would be just the crisis he needs to go on with his plan, and still claim that his hand was forced. For internal political reasons, it's better for the pressure to build from lower levels up (from a population fed up with the decreasing purchasing power, at least against western currencies) than the other way around. Once the Central Bank proves it is incapable to stop the slide, the cries for the gov to "do something" will become too much to ignore. Governors will be replaced, and a package of measures to stop speculation will be introduced over night. Currency market contracts will be terminated and defaulted upon, and the ruble will be pegged at a conveniently low rate. Russia will became China (currency wise), and the "smart guys from across the ocean won't be able to do a damn thing about it. After all, "a la guerre comme a la guerre" as the say goes. Americans are so naive...
what exports? commodities?
russia does not export high-end products, so....
anyways, their currenncy is being DEMOLISHED, like a banana country currency. Maybe, but maybe, the exporters do not feel it that bad, what about population? those 140 milions paids monthly in that crap currency? tomorrow they will wake up 14% poorer than today.
Are you going to pay for that? or your bro putin?
Ah, wait, they are proud. they got crimeea.
Stupidity comes with a price buddy. It's about to come.
You are paid in a crap currency too. Doesn't seem to bother you that much.
Yeah, they have commodities to export, unlike others. Commodities will always be needed by those who make real stuff. They also export weapons, quite a few of them actually. They won't necessarily be poorer unless they would use dollars for their imports. Which they won't ! Remember all those commercial agreements with the rest of the world, about payment in rubles or yuans ? Yeah, they won't buy so many BMWs or Mercs, big fucking deal. They import most of their stuff from China and Asia anyway, LIKE EVERYBODY ELSE. So, they won't need so many dollars. Meanwhile, your own country is trapped into a collapsing "union" which is going to hell in a hand basket, much faster than Russia's economy. The joke's on you, buddy !
yeah, we heard it from guys like you: dollar will die, america will implode, WWIII will start anytime soon, stocks will crush and gold will reach 10000. Blah, blah,blah.
Americans are, maybe, naive, but do not wake up watching their currency 15% lower than today. Isnt that telling you enough?
come on, keep delivering ...
The Americans are doing a pretty good job in destroying their own currency by themselves, with no help from the Russians or the Chinese. If you would live here, you'd know it just by comparing your current monthly bills with those you paid in 2008 (for example). They are already bankrupt, but since they print the world reserve currency, things will take some time to happen. Nobody believes that a storm is coming, until the lighthning strikes. Things are always collapsing slowly at first, the suddenly. Remember the fall of the East European commies in 1989...