Author Topic: Will 60 Oil Be The Black Swan?  (Read 367 times)

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Offline andysloan

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Will 60 Oil Be The Black Swan?
« on: November 28, 2014, 12:52:10 PM »
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    Will $60 Oil Be The Black Swan?


    November 28, 2014Financial Markets

    If it is, I don’t know of anyone who saw that coming.   I have been asserting over the past month or so that the plunge in the price of oil is the best indicator that the global economy - including and especially the U.S. economy – is collapsing.

    There had been a bubble of sorts blown up in the shale oil industry.   Billions in junk bonds have been issued against what is turning out to be the latest of Wall Street’s financial engineering Ponzi schemes.   But what everyone seems to be overlooking is that the banks and private equity firms themselves are going choke on the billions in bank debt issued by the collapsing shale oil industry.

    This is a must-read commentary posted The Automatic Earth Blog:  The True State Of The Economy.

    It is highly probable, in my opinion, that the crash in the price of oil not only is a signal that the U.S. economy is in trouble, it could well be the unforeseen “Black Swan” that pulls the rug out from under Wall Street and the financial markets.

    I would suggest that this is why the Fed and the U.S. Treasury’s Working Group on Financial Markets – aka the plunge protection team – has been waging a relentless war on gold and silver and has been working overtime to keep the stock market from crashing.

    A plunging oil price is not hurting Russia at all.  In fact, if you read this article –  Grand Master Putin’s Golden Trap – you see why the crashing oil price is likely the end of the petrodollar and U.S. global economic hegemony.

    Ask not for whom the bell tolls, America, for it tolls for thee…


     

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