WTI Plunges To $35 Handle As Loonie Hits 12 Year Low
WTI Crude prices just broke back to a $35 handle for the first time since mid-December as the combination of un-growth, Saudi price cuts, a rancorous OPEC, and production increases weigh on the world's most important commodity. At the same time, oil producers are getting hit with the Canadian Dollar plunging above 1.4000 to its lowest since 2003...
And FX producers are getting battered...
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What is your obsession with us peaceful Canucks? Please leave us alone. My Tim's coffee cost the same today as it did yesterday.
It's not what's happening now - It's what's about to happen to Canada. Should be spectacular! Let's see how far Poloz is willing to go.
Poor Canucks! Your financial institutions are about to get wiped out. <-----Easiest short ever.
If my NHL team goes BK they can just move to Las Vegas.
We still have a chance. Poloz can put it all on red.
Saudi Arabia must be getting wiped out in Yemen.
Maybe so, but it sure makes gold look good if you're holding Canadian currency...
Asset protection, bitchez!
Spent a week in Toronto over the break. Definately contributed to Canada's economy.
The deals at the duty free shop were unbelieveable for booze.
So you're saying that you celebrated the spirits of Christmas bottled? Cheers!
Unless Tim learns to grow coffee in Canada, the next shipment will cost a lot more.
Happen to check the price of fresh produce lately?
So Canadians buying power is being sacrificed on the alter of ever increasing production of the tar sands.
Is not the function of production consumption?
Not production for productions sake
This is the ultimate cause of world instability
A lack of balance between production and consumption
on
boy, is your moniker ever correct.
How, exactly, is my purchasing power being affected by the "ever increasing production" of the oil sands? first, you're clearly too Irish.. by which I mean "drunk".. to understand that the oil sands are shutting down production, laying off workers, and plunging Alberta into recession. So oil sand production is DECREASING along with my C$ purchasing power.
If oil prices were to go back up, and oil sand productions increase, the C$ would have a huge rally, and my purchasing power would INCREASE.
The relationship is exactly the opposite of how you frame it. I guess that's to be expected when you don't know how to drive on the right side of the road.
No, Canadians buying power is being massacred in an undeclared oil-pricing war with Saudi Arabia, their [AHEM!], oil-producing pals.
Wow typical eastern canadian liberal logic. The reality is that the canadian dollar has been devalued, so that you bastards and your manufacturing industries will attract more foreign customers.
No wonder eastern canadians voted liberal, you're complete idiots!
If only Monsieur Trudeau, our Drama Teacher in Chief, would take the plunge..........into Baffin Bay.
Reggie would be jealous......
Well, the Dauphin's daddy instituted his infamous "National Energy Program" back in 1974, which had the effect of shutting down most of Canada's oil industry, sending all the rigs south (and all the service jobs that went with them, including my best friend, who left northern AB for Colorado, and never returned), and creating a huge rift between East and West.
Wonder if the Dauphin will try to emulate Daddy by making his own version of the NEP - putting a floor under the oil price, so that Eastern Canada can transfer back all the billions they siphoned off from Western Canada under the guise of 'equalization payments'? My best guess: no chance in hell!
Crude oil production is THREE PERCENT of Canadian GDP. Read it yourself:
http://www.economist.com/news/americas/21641288-growth-shifting-oil-prod...
I don't know who is more short the Canadian dollar, Stephen Poloz or the folks funding Zero Hedge.
The mere fact Poloz and the rest of the "staff" at the
BoC are still around should tell you something.
Betting on moribund industrial era businesses
as an alternate to the resource sector was just
plain wrong. You make a goof THAT big and PUBLIC
and Nothing Happens!
Where be the "pitch forks" or do you have to
register those too.
It's called projection and our American friends have little else they can do to sleep at night. It's always informative to see how one's "friends" react when the shtf and the yanks have not disappointed. Honestly, would you expect any better?
Consider the centuries of inbreeding and being all alone on them thar hills with nuttin but'cher kin to mount, night after night after night. Mix in some outright criminality by the powers that were and a general drying up of gubmint free-money and the result is the commentariati here at Zero Hedge.
Fact is we all have a front row seat for the American apocalypse. Grab a couple jugs and some beef jerky, it's gonna be a hoot.
Open rebellion on the Saudi peninsula and a $35 oil price, who'd a thunk it?
"The reason why prediction is so hard is that it's in the future." -- Yogi Berra
Geez.. if you're going to quote the late, great Lawrence Peter, you could at least do it accurately:
"It's tough to make predictions, especially about the future."
So, next you're gonna tell me that Germany didn't bomb Pearl Harbor?
http://ca.reuters.com/article/businessNews/idCAKBN0UJ00120160105
USD/CAD went to 1.60 back in 2001. I don't think it -- or oil -- are finished, yet.
AI Engineering Primer
Where you begin, which door you knock upon, substantially determines where you end up. When you wake up, you may have 5 interdependent priorities, and 7 billion people who would like you to change them, ignoring all of nature, which set your priorities. Are you going to accept an interrupt – peer pressure X population size, are you going to replace a priority, how are you going to reorder priorities, and what happens to the priorities you discount? At the ac multiplexer, how are you going to distribute power?
Like the kid that runs out at recess and grabs your favorite swing, because he or she has no independent identity and wants what you have, the majority shorts itself into self-obsession assuming a closed, win-lose system, in a media History of propaganda created for the purpose of extortion. And the global elites are just dumb enough to take advantage of the behavior in competing nation/states to issue credit on compliance, debt as money to liquidate nature, for more of the same. You can exit and leave the critters to choke themselves to death, or maintain a position by discounting their money to grow a counterweight.
Of course the engineers are paid in debt to build a surveillance system promoting credit compliance with dc technology, increasing their own rent/income in an M&A/IPO lottery with Fed margin, in an economy of aspiring landlords shorting themselves. As you can see, FANG is at a dead end of its own design, being bid up on the assumption that anything you build must be funneled through it. The words and pieces of paper are constantly being redefined, but the process is always the same, a feudal FILO bankruptcy queue employed as a brake, extortion feeding upon itself.
Draw yourself a vertical rectangle and cut it into 4 parts with 3 horizontal lines. Put a squiggly symbol, a resistor, in the middle of each line segment, giving you a voltage divider in one direction and a current divider in the other, ostensibly subject to Ohm’s Law, Voltage = Current X Resistance, in a closed system. Extend all the horizontal lines beyond the rectangle to the right and you have power distribution, Voltage X Current, a big water hose connected to a big tank full of water pressure, feeding smaller hoses, a battery unless the tank is being filled at the same time.
There are many, many problems with this scenario, not the least of which is that the resistors and exhaust are in a feedback loop with the intake. On most of your circuit boards, you are also going to find an amplifier IC, to eliminate the thinking required for feedback among discrete components, with a backside resistor crossing it to a resistor in front, stupid raising stupid. The majority clamors for automation, replacing itself, because it is too lazy to think, making itself as cheap and disposable as the products it consumes, and multiplies the stupidity by trying to hunt down anyone operating outside the system, for application of equal rights.
Whether the controller is one input wire to one output wire, 1000 inputs to one output, or one input to 1000 outputs, it’s all the same crap, a distribution tree. The only reason dc miniaturization was chosen was to hide the arbitrary algorithm from you, so you can’t fix your own stuff, economic slavery, just as irrational legal language hides the arbitrary accounting rules protecting monopolies, so you have to buy their products, to create economic slavery in a positive feedback loop. You are far better off deciding what product you need for yourself, and learning to build it as you go, for which the bank will never print money, and keep in mind that the ground you employ is not absolute zero, which any effective farmer will tell you, if you listen.
You have an arbitrary algorithm, a ladder diagram, a schematic and a wiring diagram. Don’t work backwards expecting to get anywhere against replication, and if you absolutely must look at the schematic, because a $15 circuit board costs $10k to replace, due to proprietary monopolies protected by law, first separate the components into block subsystems. You have a tree of life and a tree of knowledge; you might want to climb down off the latter and up the former.
And the experts in charge of generational stupidity want to edit your children’s DNA without so much as bothering to inform you, on the assumption that you are too stupid to appreciate the use of your children as science projects, to advance stupid. All theories and equations are temporary bridges, but as generalizations they are bridges to nowhere. Capital is always running off onto a bridge to nowhere, calling it intellectual property and selling it to the middle class, leaving itself stranded on a shrinking island when the bridge collapses.
Neither money nor any of its derivatives, including Nike tennis shoes and California municipal bonds, in a CalPERS account or not, is a store of value. The opportunity cost of stupid is falling living standards, increasing income inequality, and war, and supplying the weapons isn’t any smarter. You haven’t noticed all the sunk cost property wasting away in front of your eyes, or the increasing rent on excess skyscraper capacity?
The actuarial pension ponzi, underpinning the new world order, travelling backwards, the only possible outcome, is bankrupt, surprise.
It’s easier to discount whatever money the fools choose to employ, but if you want to print your own, to be discounted away with better habits, get yourself a kid who likes playing with currency and is not bound by the false assumption in the currency market. Any false assumption, of which there are many, can be employed to turn the system on its head. Where does the power come in, how the branches are controlled is irrelevant, and where does it leave?
The controller is the first thing you rip out, but you might want to leave 110 for a light.
You have a frequency of frequencies in a fulcrum of fulcrums creating the perception of implosion/explosions in an implosion/explosion, spacetime. Because the majority thinks linearly in time and replicates itself into event horizons to ensure the outcome, it can only travel backwards in time. The multidimensional ac multiplexer eliminates time as a variable with timing, generally 180 degrees opposite to the hashed stack.
From the perspective of perception, it’s easier to think of that multiplexer as two separate mirrors adjusting a gap for propulsion, shaped for the purpose. You want to appear at your destination, a frequency of frequencies. Beginning with the assumption that it can’t be done from empire media – a majority that doesn’t want to leave its frequency ruled by experts in fashionable, non-thinking self- obsession, doesn’t get you anywhere.
The majority has no interest in understanding what it takes to raise a family, and every interest in employing yours as a means of extortion, voting itself free money on your account. Prepare accordingly.
If there were a shortage of oil, the Saudis wouldn’t be pumping like there’s no tomorrow.
So long canada we hardly knew ye.
YES, CANADA is effin' frigin' fucked beyond hope, but America is even fucked-er in the long run.
Oh well. We have an abundance of food, water, trees, and almost every other necessary commodity. More than enough to provide for 35 million people. Are we prepared to sacrifice Iphones, hondas, amd teevees? We're gonna find out. I like our chances when the global ponzi goes down.
I just read that a new Honda Accord costs $25k American but a Canuck can buy the same Honda for $30k CDN, a savings of $5k CDN over what an American would pay. It's all a bunch of BS though because car manufactures charge whatever they can get away with in any one country.
Edit: Sorry, I'm wrong. That fricken Honda is going to cost 35k CDN next model year.
Canada is being taken over by immigrants as well. The good news is the fucking Arabs and Pakis can't handle the cold so well.
Trudeau is going to destroy Canada.
Pierre Trudeau already destroyed CANADA long before his progeny entered Teachers College to become a Drama Teacher for grade school children.
You are correct, we had an independent central bank that could lend interest free money to all levels of government. Trudeau destroyed the country, our constitution clearly states that only government has the power to create money but Trudeau handed that power to the banks.
https://www.youtube.com/watch?v=JuP2hH0Kpro
That is Canada's biggest problem, Central Bank parasite banksters.
The ruling elite always finds politician traitors to push through their treachery. Trudeau I, Trudeau II, Mulroney, Harper.
Infected by the Central Bank scourge from the USA.
(now we have Goldman Sachs scumbags advising the Government)
KPMG & Goldman Sachs, actually, and KPMG was responsible for the Iceland bankster takeover by Goldman Sachs which makes KPMG even worse than Goldman Sachs IMHO.
Either way, I will destroy them, and their progeny, in due time.
Don't forget AIPAC.
Canada needs to import MOAR terrorists - that should solve everything.
LMFAO!!! It was nice knowing you Canada.
I always laugh when Canadians try to argue that their economy is not entirely based on oil. Oil accounts for roughly 20% of Canada's exports.