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Title: The Oil Price as Rope in A Tug-of-War
Published: 2018-11-06
Source: https://www.youtube.com/watch?v=viyUjJ9Q-vk
Title: The Oil Price as Rope in A Tug-of-War
Published: 2018-11-06
Source: https://www.youtube.com/watch?v=viyUjJ9Q-vk
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Remember when the oil price shot up to an unprecedented level of nearly $150 a barrel a decade ago right in the middle of the global financial crisis? Odd timing, huh? How during that general fiscal fear in Mayhem, this manic run-up in the price of the most important industrial commodity on earth forced you to feel serious pain at the fuel pump alongside property prices dropping, only to2/6
then watch as the oil price plummeted more than 70% within six months thereafter? Your supply and demand was it all or something else? And why after over a year and a half of oil's price remaining below $60 a barrel has the price started to rise in the fashion that it has again over the past year? Any coincidence between this oil price spike and the fact that3/6
the stock market is starting to correct as it did 10 years ago? No correlation, whether tight or loose, does not equal causation, yet neither are oil's prices in Brent or West Texas intermediate futures purely market driven either. As we've said on this program, the oil price is a key political tool. Certain megabanks do quite well during high oil prices, based simply on what the petrodollar standard4/6
itself even is. Some of those megabanks were also in pole positions to who were up merging or consolidating assets during and after the 2008 financial crisis. Those megabanks will certainly want to buy stuff on the cheap this time around as well and presumably after fresh rents from higher oil prices. We'll erect a bookend to that earlier episode of Money and Fear back in May of this5/6
year, which covered the politicized nature of the oil price, the players involved, and certainly global pricing and trading platforms seeking to sustainably rival the dollar-based regime, which accounts for such video game like periodic volatility in black gold state of value. If you're not a news but member yet, please join and tell others. For a very modest sum, the site gives you information you're not supposed to6/6
know. Plus empowering you to stay ahead of the herd and to think, well, like the heads of petrodollar recycling institutions and oil producing states, geopolitical strategists and certainly be.001 percent, think. The time is not a support independent nonpartisan media, so please consider joining the worldwide news by community today and tell other genuinely curious friends and family out there as well. Thanks so much.
