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Something Strange Is Taking Place In The Middle Of The Atlantic Ocean
Early last month, we noted that something very strange was happening off the coast of Galveston, Texas.
As FT reported, "the amount of oil [now] at sea is at least double the levels of earlier this year and is equivalent to more than a day of global oil supply.” In short: the global deflationary crude supply glut is beginning to manifest itself in a flotilla of stationary supertankers, as millions of barrels of oil are simply stuck in the ocean as VLCCs wait to unload.
Ultimately, this led to nearly 40 crude tankers with a combined cargo capacity of 28.4 million barrels waiting to anchor near Galveston. Here’s what the logjam looked like:
In the latest sign that the world is simply running out of capacity when it comes to coping with an inexorable supply of commodities, three diesel tankers en route from the Gulf to Europe did something rather odd on Wednesday: they stopped, turned around in the middle of the ocean, and headed back the way they came!
"At least three 37,000 tonne tankers - Vendome Street, Atlantic Star and Atlantic Titan - have made U-turns in the Atlantic ocean in recent days and are now heading back west," Reuters reported, citing its own tracking data.
The Vendome Street actually made it to within 800 miles of Portgual (so around 75% of the way there) before abruptly turning around. "Ship brokers said a turnaround so late in the journey would come at a cost to the charterer," Reuters notes.
The problem: low prices, no storage capacity, and soft demand.
Here's Reuters again:
"European diesel prices and refining margins have collapsed in recent days to six-year lows as the market has been overwhelmed by imports from huge refineries in the United States, Russia, Asia and the Middle East. At the same time, unusually mild temperatures in Europe and North America further limited demand for diesel and heating oil, ptting even more pressure on the market.
Gasoil stocks, which include diesel and heating oil, in the Amsterdam-Rotterdam-Antwerp storage hub climbed to a fresh record high last week.
And here are the stunning visuals via MarineTraffic.
Vendome Street
Atlantic Titan
As of now, it's "unclear if the tankers will discharge their diesel cargoes in the Gulf Coast or await new orders," but what you're seeing is a supply glut so acute that tankers are literally just sailing around with nowhere to go as there are reportedly some 250,000 tonnes of diesel anchored off Europe and the Mediterranean looking for a home. On that note, we'll close with the following quote from a trader who spoke to Reuters:
"The idea is to keep tankers on the water as long as you can and try to find a stronger market."
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Who is junking this? Oil is a byproduct of magma, not a finite fossil fuel. Google it . . .
Who is junking this?
The same moarons that believe in Climate Change*.
*Brought to by the Priests of The Temples of Syrinx
"Oil is made when elephants poop on fish which causes two dimensions to cross each other and make oil for some reason"
http://uncyclopedia.wikia.com/wiki/Oil
The whole oil industry is going to collapse by design!
The agenda rolls on......
http://beforeitsnews.com/conspiracy-theories/2015/12/as-events-spiral-out-of-control-its-time-to-take-a-closer-look-at-agenda-2030-video-2472972.html
Peak Oil Storage
lol
Time to top off the strategic oil reserve.
Time to expand the SOR by hundreds of percents. Let's pump the excess into those old fracking wells for later use.
Kind of the energy side of the broken window fallicy.
Good idea.
Let's buy every barrel of oil there is, pay for it in FRNs until the wells run dry, then default and open our own gas station that only accepts real money.
Yep, top er' off. And be sure to tanker kindly.
Right, because today the SPR has room for another 19 million barrels before it's completely filled. Is there any reason why they wouldn't fill it to the brim?
Actually, the geniuses in Washington DC are fixing some of their budget problems by ***selling*** oil from the strategic reserve.
It was Obama's stupid idea, but immediately seconded by Paul Ryan ... a truly bi-partisan brain fart
I bet those useless barrels full of gunk would be good hiding places for.....uh.....stuff.
If you have enough drugs to be transported by a supertanker, you have enough money for them to make their way onto a C5, no questions asked.
Something is going to give. Greed will somehow make oil spike higher. No way they are going to let the people get cheap oil
28 million barrels, that's what? 4 Days of US imports. Maybe they were hoping that the export ban would help them out, which way are they headed now?
LOL cargo ships running out of fuel while trying to deliver fuel....
A gallon of gas is already cheaper that a gallon of milk.
Ridiculous comparison. The volume of milk usage and supply is nowhere near the volume of oil used world-wide per day.
Personally, I easily use 20 gallons of gasoline each day, but we only buy one gallon of milk per week.
It's not ridiculous... It's just supply and demand. Oil you can pump out of the ground. Milk you have to squeeze out of a cow's tit. Assuming wer're talking about cow's milk...
Milk gums up your spark plugs something awful. Need a tune-up every other day.
You have it made if milk gives you gas.
Err.. One of the captain forgot his booze. I think his name os Haddock?
The other forget to kiss his wife before leaving (baaaddd omen you know).
And the 3rd captain, forgot, the ships nipples are in imperials, while the target country uses metrics. Do you know hpw hard it is to get imperials socket in metrics country?? Sigh..
Ohhh well..
Two padres and a woman on board.
And the ship's cat snuck down the gangplank in Galveston.
And Flaco Jimenez on the chest piano
https://www.youtube.com/watch?v=gTkBuR1HJd4
These tankers aren't dropping their loads of oil right in the middle of the Atlantic are they? Any satellite photos or spotter planes checking this out?
Lol...they're out there dumping it in the same place that DeBeers dumps their excess diamonds...
Forgot his phone.
He forgot his sextant - or so she said.
US Naval Academy announced in October they're bringing back the sextant. 20 years dormant.
Something about computer not being 100% reliable
http://www.capitalgazette.com/news/naval_academy/ph-ac-cn-celestial-navi...
Maybe worried about Russian GPS denial weaponry? Or HEMP attacks? GPS is incredibly vulnerable to jamming. Celestial navigation, not so much. So realiable even SLBMs use it to ensure RV delivery to target.
Blame it on the Weather, and then blame it on Un-Refined distillates, vs seasonal shutdowns.
If you can't store it, you can't produce it.
The lesson from strategy games: "Storage is full, build more silos".
Ha ha, they're pumping the crap out as quickly as they can, then trying to offload it on to someone else, looks like that plan just hit a brick wall.
I want sub-$2 diesel by Christmas!!
It's the "replenishment posse" being diverted for all the shit that's getting decimated by the Russian Air Force and Iranian Army!
And adding insult to injury...Gotta sell that stolen "black shit" fast after Janet just raised the "rates"!!
Allah Ahkbar!!!
So why am I still paying $2.60/gallon for a gallon of gas (Premium 91 octane) in Wyoming???
Someone's cashing in...
Could it be that the dollar isn't worth what it used to be, say, 8 years ago?
You ought to try gas prices in BC, Canada. Still around $4.50 a gallon.
http://www.vancouvergasprices.com/
Ouch. Sorry, man.
Yes but you do get to live in Vancouver. And that is good...right?
Nobody living in Seattle brags about the weather but Vancouver weather is even worse and it's still considered some of the best in Canada. Paying $4.50/gal is just the cherry on top of that sh!t pile.
Yikes, $4.5 / US gallon in Canada. Probably like Australia ($4.72/ US gallon) GST + Government taxes are $1.76 Cents. Before anything Government must hitch its tax wagon to Commodities. Deficits as far as the eye can see now the golden goose has lost a lot of Flesh.
Its just BEGINNING Mate!
Justin, Mr. Literature degree, is on the case, polished and newly elected by the "educated and informed" Canadian voter!
Canada is up to its eyes in Debt and the solution is.....wait for it....you guessed it, MOAR DEBT!
And Justin is THE MAN. Its in the Treudeau tradition to bankrupt 3 generations in front of you to bribe voters.
Canada voted for him, and they got him. I can absolutely assure you the following:
1. They will jack the federal road tax on gasoline up by a minimum of 50%,
2. The will outlaw coal and electricity will rise by at least 50%,
3. The waiting times at doctor's offices and and hospitals will rise a minimum of 100%,
4. And your direct taxes will rise from between 10-25%.
Oh Canada indeed.
If it looks like a duck, sounds like a duck, walks like a duck and says its a duck.....its a duck.
Now you know why I left. The fishing is good, but it ain't good enough to put up with that shit.
Squid
Point #2 has already happened in province of Ontario. Progress ! Get those damn windmills built, climate change, save the planet, it's for the children,...
From an article at plant.ca, citing a study done by the Fraser Institute, on 30th Oct 2014.
"the public policy think-tank .... says annual power cost has risen more than 50% since 2004,..."
"Ontario closed all of its coal-fired power plants and entered into contracts with other generators including renewable energy companies(hydro,wind,solarand biomass) that charge the Ontario Power Authority (OPA) higher-than-market-value prices for energy. To make up the difference, the OPA adds the global adjustment charge to the electricity bills of Ontarians."
Idiots. All of them, and those that believe in them, in that system, all of it.
So, Squid, where did you go when you left ?
Isn't that a question for The Dick Cheney?
Dick Cheney is indeed questionable.
Someone's cashing in...
Premium gas is for suckers... so yeah someone is cashing in LMFAO
“In most cases," the FTC says, "using a higher octane gasoline than your owner's manual recommends offers absolutely no benefit.”
Link
Easy Link For Rednecks, click here --> Link
Up here in communist canada, buying Shell premium is the only way to not give ones' money to the ethanol industry. No other brand gives 0% ethanol in their premium. Not Esso, Petro-Canada or any of the smaller operators.
And you actually believe Shell's claims? LMFAO.
You do know you can test gasoline for the presence of ethanol by yourself, right ? LMFAO
I know I get better fuel mileage than using 'regular' gas, about 10% better...
Yeah, "suckers", right. That's why I've never had an engine overhaul, or ever had to clean injectors, and own 3 other vehicles with over 160,000 miles on them. I'll still keep using 91+, and you can just keep paying for engine repairs.
Higher octane also helps my V8 destroy your POS from the red light or passing you on the highway, moron.
Edit: And you BELIEVE any government agency? Especially the FTC?
if your car is tuned to use it, it will take advantage of it...
check just about any moden gasoline engine control module, you will find tables for both low and high octane at minimum... in the more sophisticated systems you have a built in wideband and timing is dynamically adjusted (e.g. the Nissan GTR)... put premium in it, get more timing...
to be fair, all gasoline grades get detergents... but, they don't get the same detergents... it's one of the many factors used to dial in the octane rating...
If there is one group of unqualified bureaucrats that wouldn't know their butt from their tea kettle -- its the FTC.
Same group that thinks E85 won't burn through the plastic fuel line in most cars (and plenty of other parts).
If you are stuck in a traffic jam because all those "shovel ready infrastructure projects" never actually happened -- then its true that all cars get 0.0 MPG no matter what octane gas they burn.
because you live in fucking Wyoming... Texas has multiple single refineries that process more than the total refinery capacity of Wyoming... q.e.d.
$1.75 in arizona for 87
Oh thats all......I thought you were going to tell me that Richard Pryer was hacking computers again for Lex Luther to control all oil shipping?.........
More strange goings-on in the North Atlantic.
"A report from the Kremlin warns that there is a strong likelihood of global chaos due to a severe weakening of Atlantic Meridional Overturning Circulation (AMOC) that threatens a worldwide mini ice age event to kick in this winter."
Sorry, but Michael Mann is that hocky stick liar.
It will get cold by the end of January, though. Try this guy at Weather Bell:http://www.weatherbell.com He's doing mini updates every day.
I think you're right. I went swimming in the North Atlantic yesterday and my dick completely disappeared.
The check bounced.
Thank you Oil Czar!
(sigh)
Something strange was when Zerohedge site went down big time at 2 PM today...
What time was Yellen's announcement?
Cherchez la femme
Deflation is the order of the day. The Fed will fight it with what few tools it has left. That is what we should worry about.
Let's hope they don't decide to destroy supply, like they did with food in the depression while folks starved.
People keep crying about their "model" predicts deflation (should be lower prices?) and slack demand -- and yet actual prices keep going up.
Your model that forecasts deflation is wrong, and you should return it to the lying crooks in Washington for a refund.
This is not going to end well. We are all of a sudden (no I don't know when) going to have a supply cliff we will fall off of. The spike up makes it too little profit to produce any more beause the demand is not there. Refiners and rigs will shut down. Then as it gradually gets used up, they will have to gear up again to drill and refine the stuff. The financing may not be there to do it. Then the price will be through the roof.
If I could draw the chart, the graph would look like a normal bell curve that came ever so slightly up and started down the other side, then spiked, then fell flat like a waterfall.
You see what I see.
the volatile price swings are what is predicted by Peak Oil theory.
I followed that for a long time. The depletion rate was supposed to have kicked in by now.
Supposedly conventional crude supply did peak circa 2005 @ 75mbpd.
Lately we're at what, 90 mbpd, all non-conventional + conventional & equivalents, at a fairly steady plateau ....
The word was always that Iraq could go online with 10-20mbpd if there weren't above ground conflicts.
Supposedly KSA's Ghawar was so water injected that it was more water than crude product coming out ...and that was years ago - so some say KSA is stealing Iraqi oil and counting it as their own output ...
hard to know what to believe in the oil business .... i think it was wise and prudent for OilDrum to close up shop when they did - Resilience formerly Energy Bulletin is still good, but looks like they're getting sucked into the climate change narrative ...
tricky stuff committing oneself to something then finding out the numbers and books are cooked ... what does one do ? i.e. - B McKibben ...
I'm through sifting through oil news these days... glad the people who still use gas powered vehicles are getting a break, that's for sure
Yup! We are on the wrong side of an unstable equilibrium.
well these tankers burn oil..so all is good..just a Christmas cruise in the Atlantic for the seamen
They have entered into another realm, called the Deflationary Triangle Zone...
You said seamen
Nothing we can't burn up in the next Great War.
When everything is 99 cents, I´m going to the Ghost Mall and I am gonna CLEAN UP! I´ll probably start at the booze counter and work south.
ISIS oil....
oi yoi yoi
In other words use the push cart approach with oil tankers. Sail into ports around the globe crying ..
Sure, it'll break yer heart
A logistical problem. I do it all the time when my wife sends me to town for something and I'm in such in a hurry to leave I forget why I was going. These guys probably did the same, but with ships.
...
So I imagine these tankers are easy Pickens for a scarab, or even a shrimp boat full of drunk alla ubars out for a night of pyromaniac fanaticism? jus thinking out loud.
The Saudis are going to get way more than they bargained for from this oil price that they started. It's called WW3.
Lots of other unusual activity in the energy sector such as JP Morgan buying up wind assets (Terra Nova). And a few hours ago this:
http://www.businesswire.com/news/home/20151216006063/en/AVANGRID-join-NY...
Related:
http://www.zerohedge.com/news/2015-08-04/meet-solyndra-20-us-taxpayer-su...
Probably because Barry negotiated on the behalf of his energy alternative crooks, as well as negotiating our gun rights away as leverage in the bargain to screw us over on exporting oil as well.
Lose, lose and lose for us. Great day for all those assholes, it's unbelievable.
they're just waiting for the war to start...when their cargoes will suddlenly become more precious than gold.
But how do you bury an oil tanker in your backyard?
Just curious. :o/
Buy beachfront.
Have a useful dupe sail it into your property like the Titanic.
What could go wrong?
This kind of off-shore storage is reckless, a spill is pending.
How does this compare to the log jam of 2008? Does anyone have a link to the articles here at ZH from that time, or could you contrast it to that event?
Looks like a great time for the US to start shipping the crap to the place where all these ships came from.
gas will go to zero dollars because no one needs it without a job to go to but then when all the surplus is used up it will go to $1000 a gallon..........then back to zero as the world enters the darkages2.0. not going to be fun trying to run my porsche off head gas....
It'll look great with a charcoal burner hung on the side.
tarabel....do you know what a 'smoke engine' is. burns 'wood gas' or the gases from wood/coal combustion. my grandfather ran equipment off 'charcoal burners' back in the day. when i was a very small child, i would help him refurb and start the engines to sell to collectors............i would trade my car for one in good condition today.
When money is free, "investment" leads to overcapacity.
Who can blame them, the Fed keeps signalling perpetual low interest money. With hyperinflation a near certainty within the decade.
This is not about an oil glut, this is about Sanctions against the US for not ratifying the 2010 IMF reforms.
The world is refusing to purchase or sell, or lend or borrow, with the US.
Why do you think all of a sudden, the US is thinking to pass the damn 6 year old agreement?
In case it has not yet hit ZH, the entire world is already operating on an Asset Backed Currency protocol. It's just the US that's the hold out, and the world has been accommodating till now, but no more. Plan C has been initiated, sanction the US and isolate it economically, till it accepts the world's decision to use real money for commerce.
Expect big news in the coming weeks. Including maybe the republic.
Hey, thanks for that information.
My brain is already so confused by different theories from people in the know, I really needed another one to flip into my brain's dryer full of wet socks all getting tangled together.
that's Jim Willie's theory - that the US would be ring-fenced, isolated - and have to introduce an externally traded $ the SheiseDollar and have a different fiatskis setup for internal US use
I don't always agree with Jim Willie, but I do admire his interest in deciphering the world around us at a deeper level. He's reading much of the same kinds or material I'm reading, but he's also coming up with his own unique conclusions, same as I'm doing... it's obvious by what he talks about and how he says it. He's reading the alt media, and then formulating his opinions, same as I'm doing.
But there were many plans besides Plan C.
Plan 0 - US voluntarily complied with the reform agreement they agreed to in 2010.
Plan A - US was persuaded to comply with the reforms in a congenial manner prior to now.
Plan B - US was persuaded to comply with the reforms in a less pleasant manner, but not entirely forceful, but more forceful than passive.
Plan C - US is found to be uncooperative, so they are slowly isolated in subtle ways. Sanctioned. Much of this has to do with Asset Backed Currencies. The world is not just sanctioning the US, it's basically saying they can't do business with the US because the US does not have an asset backed currency, so there is nothing to trade with. That's why it's Sanctions... defacto.
Plan D - War on small scale.
Plan E - War on a large scale.
Plan F - Invasion of the US.
So on. The list above is my own rumination on the global threshold for obstinacy from the US.
I'm sure you can find the general list as others view the events, if you do a quick search - BRICS / Plan B for example. Here's one I found that I have not read. http://sitsshow.blogspot.com/2014/12/plans-for-change-e-thrive-movement....
http://www.bing.com/search?q=IMF+2010+reforms+BRICS+%2F+US+Plan+A+%2F+Pl...
TRN and USN.
The rest of the world "solved" the IMF problem by signing up to China's new development bank.
China's bank is run by people with actual savings to lend, actual manufactured products to sell, and its not run by a French woman who lost a French election and got IMF head as door prize.
IMF has no money, its primary sponsors (Europe and US) have mind boggling debts and deficits for decades.
What does this all do for former Canadian PM Harper's Tar Sands Dream. In speech after speech Harper sold Tar as Canada's future, he encouraged maximum investment in making Tar Sands into a Canadian Super Power of energy.
All oil is not the same. What Saudi pumps up out of oceans of shallow oil or Russia pulls out of long lasting production wells where all you need do is speed up the pumps, while Canada's dream is thick tar stuck to sand, and it's notoriously expensive to turn into a thick heavy oil.
True.What is also true is that to manufacture most alternative energy (wind,solar,nuclear, biomass) you need a fossil fuel economy. The Paris global warming conference calls for a carbon tax cutting in at successively lower CO2 levels year after year.Boy alternative energy will be too expensive to manufacture.GGuess we go and camp with the cows and light their fats on fire to heat and cook.
And the lowly tax payers of Canada subsidize this oil. With crude hovering at $35 a barrel for months we were still paying $4.40 a US gal. Then it dropped to $3.80 for 2 weeks and now it's back up to $4.40, that's aalmost a 20% jump and no reason given. My guess is the government rather collect taxes on $4.40 than $3.80 so they set the price. Free markets be damned.
It probably has something to do with the weak Canadian dollar. After yesterdays's rate hike, the US dollar = 1.38 Canadian. As you know oil is priced in US dollars and everyone pays market price regardless of where the oil came from. Btw, if oil prices continue to drop, the Canadian dollar is forecast to drop to 1.45 against the US dollar. That European or Disney vacation next year could be very expensive!
the economy is strong, so this is not happening..canada dies
"Alberta’s suicide rate soared this year and public health officials fear the trend will continue. The economic turmoil in the wake of collapsing oil prices has hit many people in the province hard. Mass layoffs, that few saw coming, are wreaking havoc in homes and families. The price of a barrel hit a new six-year low today.
Mara Grunau, head of the Centre for Suicide Prevention in Calgary, said, “This is staggering,” In an interview with CBC she said, “It’s far more, far exceeds anything we would ever have expected, and we would never have expected to see this much this soon.”
According to the energy sector itself, over 40,000 layoffs have taken place this year"
Average price / gallon in the US $2.00 x exchange 1.38 = USD/ gal $2.76 = $3.80 CDN. I did account for exchange rates, my point was a 20% jump overnight, and that the government has little incentive to pressure oil companies to keep prices down.
--> "What does this all do for former Canadian PM Harper's Tar Sands Dream"
You know that "free" health care you get (from higher taxes AND oil royalties)?
Its about to get a lot more expensive, and your wait times will get a lot longer. maybe your health minister will fly to Minnesota again to get timely health care?
Just wait until VW gets its pound of flesh from the USSA, Putin and Saudis for Carbon tax fraud. Please release these for EPA Gestapo making Nox standard 40% lower than USSA diesel (truck generators ect ).. Real pollution halter. CO2 exchange fraudster and thieves....
http://www.autocar.co.uk/car-news/concept-cars/vw-reveals-new-300mpg-coupe
http://www.snopes.com/politics/conspiracy/xl1.asp
Que; ISIS takes to pirating on a massive scale, flying the black flag like the Templar pirates of old. Israel builds a bunch of refineries and all of the US's gas gets sent to Turkey and Europe. The pirates can't seem to be stopped because they have cloaking devices.
"Ohh we pirate all day
to chase the Crusaders away!"
You laugh, yet there ARE diesel tankers pirated on the west coast of Africa.
They transfer the diesel and gasoline to smaller vessels for distribution.
New British Stor diesel units recently installed supposedly to increase the redundancy of the British grid are preparing to eat this surplus.
Who would dirty their hands with oil - when there is a much cleaner and efficient way to power industy & homes?
Welcome to German Engineering! Rosch Gravity engines:-
enjoy!
https://www.youtube.com/watch?v=cT4ywRt89Iw
https://www.youtube.com/watch?v=1Uepu2CpwRo
And now for an unofficial distraction to celebrate this great German affordable technology:-
https://www.youtube.com/watch?v=sZ8m8_vtL-A
https://www.youtube.com/watch?v=Qsd5GdDCnTM
We used to have this situation when I sold ocean containers of products, sometimes an aggressive sales rep would predict a strong market in, for example, Taiwan. He'd sell 8 containers but ship 10. The extra two were "floaters". The idea was if your regular customers wouldn't take them, someone else would, on consigment which could be a bloodbath, or maybe not. Another case would be if the intended customer disappeared, bankrupt. That happened more often than you may expect, and everyone knew that you could never trust an Indonesian. So you had to be super careful with Indonesians.
A container load of oil turning around and coming back is probably not that unusual.
Well as the article says they're carrying diesel so they could theoretiaclly be playing port to port ping pong for years using the cargo for fuel, with stops for crew supplies of course.
And that price for diesel in Europe, you don't give a reference to what quantity? Liters? Gallons? Barrels? Please explain.
The Old Man
Pump all the oil out of the ground so we can pump it into storage tanks?
OK.
The above ground tanks are full. Thats why its sitting offshore. There is no room anywhere.
I dont think you understand what he was trying to convey in his post...it was irony and sarcasm. We know, you're a little slow.
Well it is time to play the blame game...why so much diesel?...well those damn Germans and the VW recalls have slowed the use of diesel... or you could blame the "bankers" especially Goldman Sock-It-To-You for trying to corner the market and not being successful or maybe the pesky US EPA department ... or maybe Obama is behind this problem...so many likely culprits ..we will probably never know...
I think we are running into a classical economic problem... refineries, manufacturing, etc. were using tankers under the theory of "just in time" (JIT) inventory... now a new method for inventory for difficult times has emerged... It is a little known method called..."Stop Halt Inventory Tactically" or in layman's language..it is known as the SHIT method...
So if water is overflowing in your bathtub your decision is to turn the water on higher.
This is stupid fucking Saudi/OPEC logic. Wake. The. Fuck. Up.
Brilliant actually. Iran and Putin bitch slapped. House of Saud will just ride it out :-)
This is not about floaters. This is about the collapse of the world economy.
Because of Central Bank games, we are now in a world where capacity in just about everything used is 50-60-even as high as 200% over what is really needed. This has never happened before across a broad category of industries.
And your friendly bankers who should have used their interest free money to fix their balance sheets from all the bad debt and derivatives in 2008 used the money to double down on commodities. WELL GUESS WHAT IS COLLAPSING FIRST????
Every commodity is down by vast amounts and the losses at the banks will soon have to be revealed. When that happens that is the end.
Progressives and Central Bankers destroyed capitalism for National Socialism and with all forms of National Socialism, a race war is required. They declared war on the White Race because they represented savers, and capitalists.
Wake up and get your money out of the system. Cash out of the banks and stock and bond markets and put your money in safe places totally under your control. As you can see with the high yield funds, if you wait to get out you are finished. Contrary to popular belief the safest place is in good ole fashioned greenbacks in your hands or mattress.
If you don't move now, you will suffer terribly.
And to top it off this coming collapse will trigger a revolution the likes of the French or Russian Revolutions.
Confusion: not National Socialism but Bolshevism and all forms of international Bolshevism. The Race war is to distract in time of peril
i think you're right Teknopagan - the level of manipulation and is extremely high as is the sophistication of the outright dominance in controlling the narrative to the mass of people or some call sheeple - the ability to control the purse strings / money supply and the Perceptions as to how and what things, events & people get covered or not covered ...
however, that for myself is clearly offset by the positive aspects of the internet freedom. That freedom should not be taken for granted and infact the recent law passed, before the TPP - what was it, the TISA, i'm not sure at the moment but if you're following this you will most likely already be familiar with the reference. It allows the internet to be considered a UTILITY and can thus be regulated. and TAXED. Australia has begun using VOICE recognition capabilities to their phone / taxpayer wageslave to IDENTIFY for tax purposes.
Did Shkreli really violate trading regs, or was his flamboyancy becoming a nuisance to certain TPTB connections ? imagine the conumdrums the real wealthy have these days ... to just keep buying more property and BTFD .... or ...
Gets better every day.
Markets arn't maniputlated, what's the matter with ya'?
Good time for the FED to raise rates to tamp down the global demand for oil.
LMAO LOL!!!
I'm waiting to see gasoline for .19 cents a gallon, like I remember it back in the 1970s in SW Missouri.
It's that price right now there in real money (pre 1965 US silver).
Ha ha! Taxes alone are way higher than 19 cents.
That was only in Poplar Bluff for a few months during the price war.
So do I in Minneapolis
I recall pulling into the service station (service, not gas) at that price and asking the owner as he cleaned my windshield, "How high do you think it will go?" And he replied, "No one knows." Then he checked my oil and topped off my tank. A couple of bucks of gas would keep a teenager happy for a week's cruising.
"Capitan! Todos los barcos regreso al porto!"
"Por que?"
"Momentito!.... Escuche el radio!" :
bzzzz....pop!.. "In it´s moment of need, people OVER THERE don´t have the cash to buy our exceptional products from China! In addition... there are glowing green sea creatures resembling Wayne Newton circling about the U.S.S. Cameron, Nuclear Submarine First Class, on secret assignment in the Eastern Atlantic where seven-foot tall ISILIS (rhymes with syphillis!) pirates that look like Cary Grant are threatening the lives of a bevy of beautiful young mermaids!... Wolf Bullshitzer, Asshole, Tel Aviv."
"Thank you Wolf.... Wolf is following up the story on all four as we speak....I´m Christina Foxworthy and I assume you´ve noticed my tits.....They´ll be right back!"
In a F'ked up world ruled by F'ked up Bankers backed by Guns controlled by F'ked up Politicians, I'd say it's perfectly normal.
Oil export ban lifted.
Putin screwed.
Iran screwed.
Every.single.damned.day.the.world.needs.less.oil.
There are 42 gallons per barrel (of oil). The price of oil is about 36 dollars per barrrel as per google. Just for reference.
Increasing tankers afloat, quickly changing direction when the financial tune changes in the destination port: This is a high stakes game of aquatic musical chairs. How about a new depression metric TD, say, a Baltic Wet Index - unsold crude tonnage afloat?
you want crude , you have all the crude
----------
The dead shall rise from the grave
Then there will be The Judgement Day
(Nuclear apocalypse)
nah..someone probably left their iPhone at the last port of call...or maybe the clinic called with some bad news...for the entire crew. Well, her name WAS Suzy Superslut...
Deflation, then ...
Same ol' story. Different day.
Well, I hope the weather holds up and there are no overzealous sub commanders wanting to offload excess torpedoes.
Well, I hope the weather holds up and there are no overzealous sub commanders wanting to offload excess torpedoes.
Will they all go to CHN?
"Luis, Call the captain of the Vendome Street and advise him there has been a change of plans....Russia and Iran have already delivered and we no longer need the Vendome shipment."
Called my regular towing company today to get some abandoned and parts cars off the lot. Johnny on the other end of the phone say's "I hope your not a hurry for for your 50 bucks because we're busy as hell." Its been a while since Ive sent anything the metal reclyler so I'm in the dark on this. After a longish conversation, Johnny explains to me that scrap metal is in the absolute shitter. Current price in my Kentucky area is $40 a ton for a scrap car. Last summer it was $250 a ton. Back 2011 it was as high as $375 a ton and the Chinese were buying the sweepings off the floor. No exaggeration whatsoever, the Chinese would literally buy the floor sweepings poured into a 50 gallon drum. So after I pay the $60 to get the car towed to the recycler I'm looking at $50 per car. Commidity crash? Hell yes, but look on the bright side, gun manufactures can start making guns out of metal again instead of plastic.
Is that true. Not asking to be an ass. But if it is true I think it says more than any data being put out.
It is the same everywhere. 2 years ago there would be aline a block long at 7 in the morning to get in when they opened at 8. Now you can drive in and get unloaded without any wait at all. I talked to the owner a couple of months ago and he said it will be 2018 before prices go back up
Q: How do the car parts (once scrapped and separated at $15/hr) get to China from Kentucky?
A: They go on Warren Buffett's trains to a port, where longshoreman's union has them sit for weeks (storage costs) while other ships sit offshore waiting to unload.
Chinese demand is off (some), but the cost of getting scrap from the US has skyrocketed. They can get scrap from elsewhere without the logistics headache / costs.
Warren Buffett and the longshoreman thank you for making their Christmas!
this is the end to the crush putin and the brics with an oil glut strategy. the oil industry(saudis) will have to shut down production to regain control of the market. those ships need to be emptied to ship more oil. buy oil. the glut is over.
If they were trying to bury Putin in excess supply, they would have completed the delivery to Europe...
Think the problem has more to do with Europe's inability to pay (not with endless IOU's).
If high yield debt is hemorrhaging, you need cash not IOUs to stay out of chapter 7.