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Maybe Everything's Not "Fixed" - S&P Loses 2,000 Level As Kuwait Spoils The Party
The epic melt-up in US equities stalled "surprisingly" exactly as Europe closed and the EURJPY-pumpathon, VIX-dumpathon instantly reversed... because it's not rigged at all. The other driver - a dead-cat bounce in Crude - has also stalled as Kuwait's oil minister confirmed no new OPEC meeting until June (hardly good for oil expectations of a production cut any time soon with in OPEC). 5Y5Y inflation breakevens continue to free-fall in US, Japan, and Europe.
As oil slips back below $56...
Oil price recovery depends on how long some producers, especially from shale and oil sands, can endure while pumping at a loss, Kuwait Oil Minister Ali al-Omair tells parliament, according to state-run Kuna news agency.
OPEC to continue with policy to keep output unchanged without engaging in price war
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http://youtu.be/hedIexysvK4
the kuwaitis are laughing:
let's see how long these yankees can keep crushing shale @ $50. shit just gushes out of the ground for us. it's easier to just let it go than it is to try to hold it back.
Aren't there any more currencies we could stop FX trading in?
If they don't keep bribing their people with free money, soon they'll be laughing out of the slash in their throat. Hard to do when you've budgeted 90 - 100 per bbl in expenditures to keep the great unwashed docile. Soon the cash reserves run out and then you begin to sweat.
they best get an oil pan
on the floor
under this hemorrhaging oil
I'll just leave this here-
https://www.youtube.com/watch?v=qq0ykF2mHgQ
"5Y5Y inflation breakevens continue to free-fall in US, Japan, and Europe." i have no idea what this means. i suppose its bad for stocks....but doesnt that just mean the fat cow "needs to get to work"?
"Work" is an obsolete concept.
Get to "Yellen" & trade penny stocks like 17 year old, Stuy High School student, Mo Islam.
A months worth of volatility all packed into half a days trading session.
When global currencies are moving like penny stocks...AND the watchdogs are asleep (or watching porn)
Sure sign that there isnt much trust left in the financial system in its current state.
And Cameron is doing his best to Boo! Spook the Brit sheeple:
http://headlines.ransquawk.com/headlines/uk-prime-minister-cameron-says-...
News Headline Summary
UK Prime Minister Cameron says Sydney-style terror attack could happen in Britain 'at any moment'
Print 17:06 - Global News - Source: RTRS
https://www.youtube.com/watch?v=Iu_30-8ZlmQ
Cameron comes from a long lineage of Rothschild master craftsmen
Cameron the limey cunt.
His great-great grandfather Emile Levita, a German Jewish financier who obtained British citizenship in 1871, was the director of the Chartered Bank of India, Australia and China which became Standard Chartered Bank in 1969.[17] One of Emile's sons, Arthur Levita, was also a stockbroker; he married a cousin of the royal family, Steffie Cooper.[18][nb 2] Sir Ewen Cameron, another great-great-grandfather, was London head of the Hongkong and Shanghai Bank; he played a key role in arranging loans from the Rothschild family to Japan during the Russo-Japanese War.
Free. Efficient. Markets.
we squeezed some folks...
Just when you think you don't need to bury the metal enclosure, you discover the back hoe runs like a top.
Depends on what your definition of "fix" is
Wait what? Selling is allowed now?
/s
Fucking Kuwaitis - we never should have saved them from Saddam back in '91! LOL...
we did it for the incubator babies, had to save those little souls from Saddam's madmen!
Russia is a target of a full spectrum war including economic, political and propaganda attacks. Can a military war be far behind?
Saudis Target Iran, Russia in High-Stakes Oil WarRussia's economy is doomed. That prediction comes as oil prices and the value of Russia's currency have been plunging.
Some say Saudi Arabia is punishing Russia -- and Iran -- by playing a high-stakes game with oil prices.
A barrel of oil is now below $60 for the first time since May 2009, and that's good news for Americans who are actually smiling as they fill up at the pump these days.
But halfway around the world, for some of America's adversaries like Russia and Iran, plummeting oil prices are hurting -- and hurting bad. Both need oil prices to be above $100 a barrel to fund large parts of their economies.
The result: Russia is imploding. The ruble is in a free fall, down 50 percent against the dollar.
http://www.cbn.com/cbnnews/world/2014/December/Plunging-Oil-Prices-Hurti...
Russia has just lost the economic war with the westA full-blown currency crisis. That’s one way to describe the situation in Russia, where even the attempted “shock and awe” of a 6.5 percentage point-hike in interest rates failed to halt the rouble’s slide on the foreign exchanges. The other is to say that Russia has been engaged in an economic war with the west – and has just lost.
Put simply, this was Moscow’s Norman Lamont moment. Back in September 1992, the then chancellor said he would defend the pound and keep Britain in the exchange rate mechanism by raising official borrowing costs to 15%, even though the economy was in deep trouble at the time.
Russia is in even worse shape than Britain was in 1992. With a clapped-out manufacturing sector, it is over-reliant on its massive stocks of oil and gas at a time when the price of oil is falling through the floor. A barrel of Brent crude was trading at below $60 a barrel on Tuesday, compared to a recent peak of $115 in the summer.
http://www.theguardian.com/business/2014/dec/16/russia-has-lost-economic...
Russia has just lost the economic war with the west
This will be true as long as the majority of the world is willing to play by the rules of the game the west has set up over the past 70 years. There are serious cracks showing, however, in the world's willingness to follow those rules. The Russians and Chinese are trying to set up an alternative playbook, and they are in a race: can they set up the alternative fast enough before their current models (still attached to western central institutions) overwhelm them? This one's a nailbiter of a finish... the perfect cliffhanger...
If we believe this is even genuinely a competition, of course. That's another whole kettle of fish...
One wonders how many Iranian speedboats it would take to scare shippers from using the Strait... Wonder what that would do to oil prices... Wonder what that would do to tip the balance from SA to Russia as oil supplier...
Russia has plenty of options.
I saw a report today that claimed that Iran has hacked many systems in the world. Of course it's admittely based on circumstantial evidence and provided by a company that I've never heard of named cylance (I have 20 years in the IT industry). Similar to the report that Russia hacked JP morgan which after noone could provide evidence has since faded.
I did a search for their CEO McClure
http://venturebeat.com/2014/02/20/cylance-snares-20-million-to-bring-min...
"That’s the mantra of Stuart McClure, chief executive of Internet security provider Cylance, which just raked in a $20 million round lead by a bevy of heavy hitting investors including Kholsa Ventures, Blackstone, and Fairhaven Capital."
"Cylance is based in Irvine, Calif., and has 50 employees and 60 paying customers, including government agencies. McClure declined to identify them directly but said the bulk represent entities in finance, healthcare, and IT firms.
This is McClure’s second startup. He launched Internet security provider Foundstone back in 1999 and then sold it to McAfee five years later for a cool $90 million. Not bad for a guy who cut his teeth doing IT network security for city and government agencies in the 1990s."
Well that certainly got out of hand, then back in hand quickly.
Someones going to be picking up Russian assets cheaply...yooohooo, CBR???
Think how cheap all those Russian brides will be - 3 for 1!
I just want one hot blonde at a fat one's price
Today reminds me of 2008 when the FED kept trying to ramp the stock market higher intraday only to see it sell back off again into the close.
The window of escape is quickly closing.
Weeeeee!!!!! There is NO retail anymore. The moves are ridiculous and meant only to create a perception. Remember the 5 misses in data this morning? Me either.
These 'markets' have turned into a pissing contest between CB's and corrupt governments.
This cannot end well.
Nice to see eurofade work against US stocks. It will continue until the US catches up to the reality of the rest of the world.
As usual, "irrational exuberance" begins and ends in the US, the most corrupt and institutionally manipulated market in the world.
Saudi cut production by three-quarters in the 1980s oil glut and failed to halt sliding prices. They won't make the same mistake.
http://otdon.blogspot.co.uk/2014/12/dont-hold-out-for-saudi-arabia.html
The markets are merely giving the appearance of being roiled because tomorrow, the Fed will spread their soothing balm and make everything all better.
Their issued statement will be EXACTLY what the market wants to hear and said market will accordingly put pedal to metal and leave all naysayers in the dust. Pundits will cheer the arrival of the Santa Claus Rally and ZH will cry foul. So what's new? This circus has been getting rave reviews from the 1% for 5 years running now and they are the only ones who seem to count.
Josh Brown (who, unlike most of CNBC, at least has a personality) at noon suggested many sectors were displaying a bullish engulfing pattern.
Careful, Josh -- this engulfing may be more like a blue whale swallowing a live torpedo …
Russia gets dollars for its exported energy.
One year ago..Oil = $92 x 33 rubles to dollar = $3036 Rubles
Today...Oil=$58 x 80 rubles to dollar = $4640 Rubles
Russians spend Rubles in their economy, not dollars. Thus the weak ruble is a stimulus to the Russian economy and is why they are raising rates and inflation is beginning to set in. I don't think all grasp the mechanics of this.
The BIG '4' Oil & Gas Giants seem happy now? That being Saudi Arabia (the big Kahuna!), and the `3' Amigos'-- Kuwait, UAE, and Qatar.
'Four against the world ?' Not good odds for me[?] hubris...?
Which OPEC country will put out a hit on 'Sheikh Bandar[Bush?]?[?] And send his head to Abdullah via overnight delivery! In fact, which of the multitude oil-dependent countries will take their pound of flesh upon the Saudi Empire or its moar vunerable, 'three amigos' in the near-present tyme!?!
It is foolish that one can think about itself in a globalized world as an exception to the rule... other than the USSA's exceptionalism...! Isolation just won't hold water in a newly-crafted-skin-game, or wine for the infidel bladder?
So it's a waiting game when the fireworks start to begin. And, they will begin with no grand finale until the 'Big Kahuna' feels the wrath of Khan-- there is an old proverb about the Russian people when they are injured... their bloodline is that of the ancestrial mongolian?!?
While the USSA fiddles with Russia, China moves along unimpeded as planned. Venezuela is an interesting start as is the west coast of Africa.
$$$s from oil actually isn't much when the country has absolutely no other revenue stream, and believe-it-or-not Ripley?... Saudi Arabia has none, nor do the three Amigos.
Ref:
http://www.eia.gov/countries/country-data.cfm?fips=SA *link Expand All
http://www.eia.gov/countries/analysisbriefs/OPEC_Revenues/data/real/_2005.csv
**Navigate Top Bar - Oil Production (some descrepancies?
http://www.eia.gov/countries/regions-topics.cfm?fips=OPEc
jmo
middle-easters can laugh all they want because prices will recover and free market capitalism (well...at least freer than most state-owned oil producer countries...) trumps in the long run. Just wait until laser drilling becomes commercially viable and cut production costs per barrel by 90%. maybe it will be 20, 30 years, or less, or more. The point being, technology and innovation do not stop. check foro energy. they are the ones, or one of the ones, pushing the envelope on this new laser drilling technology.