Time Bomb In Oil Markets: Goldman Sachs Issues Warning

 

While energy traders remain focused on weekly changes in crude supply and demand, manifesting in shifts in inventory of which yesterday’s API data and today’s EIA data was a breathtaking example, a much more troubling data point was revealed by the Energy Information Administration last week when it reported implied gasoline demand.

To be sure, surging gasoline supply and inventories are hardly surprising or new: they remain a byproduct of the unprecedented global crude inventories leftover from two years of failed OPEC policy which resulted in a historic glut. Last January, overall crude runs were up 500,000 bpd as refiners shifted away from diesel and other products to gasoline to chase more attractive margins amid a mild winter and sluggish diesel demand. The move led to an overbuild of gasoline stocks that lingered into the summer, punishing margins when they should have been at their strongest. This January, crude runs are at historic levels, up by roughly 300,000 bpd over last year. Continue reading

The Effort to Undermine Trump Continues

What you’re seeing from the corrupt government is a threatened corrupt government. It’s making preemptive desperate attempts to discredit, sideline, hamper and delegitimize Donald Trump before he takes office, and will continue thereafter for as long as it can. They have to strike first and do all the damage they can. They know their corrupt rein is up.

One thing you can see out of this are the corrupt people for who they really are, such as John McCain and all the Clinton/Obama-appointed intelligence agency heads.

What was done in the dark for several decades is now coming to light and heads in Washington will roll come January 20.

 

What is getting really interesting is just how desperate many in Washington seem to be about Trump. It seems they are really concerned that he will cut off the gravy train in Washington. Even the Republicans hoped they could train him, fearing that his ban on lobbying for five years could be a deathblow to their livelihood.

Trump is not a racist as the nutcases claim; they are prompted by the Democrats in the campaign. Nobody can discriminate against any class, race, or religion as president. He cannot even overrule abortion — that is the Supreme Court’s decision. So why all the hatred and exaggeration? Why are people saying he wants to stop Muslims coming from other countries? The overall nastiness of those on the left against anyone who disagrees with them is stunning. Continue reading

Dollar to hit parity with euro in 2017

 

The dollar is likely to hit parity with the euro during 2017 driven by diverging paths for interest rates, according to Goldman Sachs’ chief economist.

The Federal Reserve is likely to hike interest rates three times in 2017, pushing it even further from the rate positioning stance of Europe during the course of the year, Jan Hatzius told CNBC at the Goldman Sachs Strategy Conference in London on Monday. Continue reading

Is Trump Draining the Swamp or Filling It?

trump-cohen

 

Trump has broken his word and is by no means draining the swamp — he is filling it. He has really betrayed a lot of people by his nomination of Gary D. Cohn as Director of the National Economic Council, which is a policy-making position for domestic and international economic issues. Continue reading

Now pushy European Union angers the US as it tries to control AMERICAN banks

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Brussels is annoying Wall Street banks with new rules (Getty)

 

FURIOUS American banks are fighting back against burdensome Brussels plans, which would allow European regulators to exert more control over foreign lenders.

Wall Street financial giants warned they will not be able to tie up more cash in their operations within the European Union (EU), as proposed by the European Commission (EC).

The rules hand the EU more oversight of foreign firms and are set to cost the likes of Goldman Sachs, Morgan Stanley and JPMorgan, as the banks would need to stump up fresh funds to keep within the bloc. Continue reading

Merkel to Deport Refugees for Reelection

The inundated Chancellor Angel Merkel has always had her own team who poll her popularity regularly. She cannot let go of power and she is known for not standing for anything but herself. She will change positions whenever necessary to maintain her popularity. Merkel created this entire refugee crisis because she was being criticized for her hardline on Greece. Now, Merkel is changing direction promising to deport 100,000 refugees. Continue reading

Blockchain Technology – What Is It and How Will It Change Your Life?

  • Blockchain technology – What is it?
  • Latest developments – Royal Mint Gold & CME, Goldman Sachs and Santander
  • Why do we need it? It’s about value
  • Blockchain is an extension of economics
  • Blockchain allows us reduce uncertainty and risk
  • How will it change your life?

For those of you who follow anything to do with blockchain and blockchain technology,  you will know that the space has had its ups and downs in the last couple of weeks.

The exciting news is that two major players in the gold market, the Royal Mint and CME Group have announced a blockchain-backed gold project, and the surprising news is that the R3CEV consortium is apparently under threat. Continue reading

Did the White House Declare War on Russia?

(ANTIMEDIA) This past week, America’s oldest continuously published weekly magazine, the Nation, asked the question: has the White House declared war on Russia?

As the two nuclear powers sabre-rattle over conflicts within Syria, and to some extent, over the Ukrainian crisis, asking these questions to determine who will pull the trigger first has become more paramount than it was at the peak of the Cold War.

The Nation’s contributing editor, Stephen F. Cohen, reported Vice President Joe Biden’s statement that the White House was preparing to send Vladimir Putin a “message” — most likely in the form of a cyber attack — amounted to a virtual “American declaration of war on Russia” in Russia’s eyes. Biden’s threat is reportedly in response to allegations that Russia hacked Democratic Party offices in order to disrupt the presidential election. Continue reading

Eurozone banks are in DEEP trouble: Wall Street top bankers issue warning to EU

EUROPE’s biggest banks are vulnerable and pose a huge risk to financial stability, according to some of Wall Street’s top bankers.

Financial heavyweights from the US and Switzerland joined forces to sound the alarm over Deutsche Bank and its peers.

Goldman Sachs’ president Gary Cohn hit out at eurozone banks for failing to clean-up their balance sheets after the financial crisis. Continue reading

The Clinton Foundation owns the FBI

The Clintons have used the foundation to enrich themselves

Now, as Kurt Nimmo writes, FBI Director James Comey’s past and present employment as Director of HSBC Holdings and subsequent promotion to independent non-executive Director and a member of the Financial System Vulnerabilities Committee, an appointment set to expire this year. Has blatant ties to the Clinton Foundation. In a letter sent On Monday, Republicans demanded answers from FBI boss James Comey. House Judiciary Committee Chairman Bob Goodlatte of Virginia, and committee member Rep. Trey Gowdy of South Carolina, want to know if the emails that were deleted and recovered by the FBI had anything to do with the Clinton Foundation. Continue reading

Rich and powerful warn robots are coming for your jobs

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Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming.

“Most of the benefits we see from automation is about higher quality and fewer errors, but in many cases it does reduce labor,” Michael Chui, a partner at the McKinsey Global Institute, said on Tuesday during a panel on “Is Any Job Truly Safe?”

Continue reading

Fed’s Kashkari Says “We Won’t See Next Crisis Coming”, Compares Banks To Risky Nuclear Reactors

Coming as a replacement to perhaps the biggest dove in Fed history, few were expecting former Goldman and Pimco staffer Neel Kashkari to be as vocally outspoken on a topic that is so near and dear to regulators everywhere: their own cluelessness, and more importantly, the topic of “too big to fail” banks, which according to the Fed are a pillar of stability in an unstable world, and which according to Kashkari are anything but.

It is doubly surprising because it was none other than Kashkari himself who served as one of the key architects of the bank bailout plan in the aftermath of the financial crisis. Shortly thereafter he lived for an extended period in the wild. Continue reading

JPM: “Things Have Gotten Out Of Control: People Have More Confidence In Gold Than In Paper Money”

Please see the source for the video.

 

Following the biggest one-day surge in the price of gold since 2009, it is understandable that suddenly everyone who until recently was predicting the price of gold in the triple digits, or laughably explaining why “gold is doomed” wants to talk about the “pet rock.” As we showed earlier, already Goldman and Bank of America have opined with new and upwardly mobile “price targets”, while the scramble to obtain gold in a world drowning not only in negative rates but soon, cash bans, has already been unleashed. Continue reading

Russia Breaking Wall St Oil Price Monopoly

Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, today the Achilles Heel of the Russian economy.

Later in November the Russian Energy Ministry has announced that it will begin test-trading of a new Russian oil benchmark. While this might sound like small beer to many, it’s huge. If successful, and there is no reason why it won’t be, the Russian crude oil benchmark futures contract traded on Russian exchanges, will price oil in rubles and no longer in US dollars. It is part of a de-dollarization move that Russia, China and a growing number of other countries have quietly begun. Continue reading

Germany’s Refugee Crisis is Starting to Explode

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But what has become the BIG NEWS, is the cover-up by the major news in Germany who did not publish the story for three days. On January 6th, Denmark began “temporary” passport checks on the German-Danish border. The attempt to cover-up the Cologne attacks with one-third being sexual, has sent a shock-wave in Europe behind the headlines. The temporary passport checks in Denmark is a clear response to Germany’s unprecedented acceptance of refugees who a portion are not quite ready for Western living. The men involved were said to be Syrian. Continue reading