Loading ...What do you think Xi or Putin would do if the Iranian regime was building the bomb and saying that they would use it to kill them and all their peoples.
Oil and You
Jack Prandelli
@jackprandelli
Asia’s refineries are built for Gulf crude
That’s exactly what’s disappearing from Hormuz right now
You can’t just swap in US Light Sweet.
It doesn’t run the same way.
Why there’s no easy substitute:
→ #Russia: Already maxed out, can’t scale further
→ US Light Sweet: Wrong grade for Asian refineries
→ #Venezuela Heavy: Extra-heavy, rarely goes to Asia
→ #Canada Heavy: 96% to US, not exported to Asia
The reality is that Asia doesn’t just need oil.
Asia needs Medium and Heavy Sour crude from the Gulf.
And right now:
→ The Strait is 80% closed
→ Refineries are burning
→ Producers are declaring force majeure
→ Tankers won’t enter the Gulf
You can’t replace it barrel for barrel because refineries are built for specific grades.
When those grades disappear, the system breaks.
Jihadi shooter opens up at Old Dominion and gets beaten to death by students. A+
all Street Mav
@WallStreetMav
·
17h
AMAZING! Students at ODU BEAT THE SHOOTER TO DEATH. 🔥
Thank God too, or some liberal judge would’ve taken it easy on him. He got the death penalty he deserved.
Wrecking Ball
Wall Street Mav
@WallStreetMav
🚨NYC Mayor socialist Zohran Mamdani has proposed lowering the exemption on the death tax (estate tax) from $7.1 million down to only $750,000.
He would also increase the death tax from 16% to 50%.
No other jurisdiction in the USA confiscates wealth at death from people with that small of an estate. Anyone with any equity in a home in NYC would likely exceed the $750,000 and have to pay the death tax.
There is a federal estate tax (death) for estate wealth that exceeds $15 million (individuals). However, you can deduct other state and city estate taxes before paying the federal estate tax. So effectively, Mamdani is preventing the federal govt from taxing estates, NYC and NY State are taking it all first.
One thing Ritter is saying that is true, Trump did lift sanctions on Russian oil yesterday
I can’t imagine for even a minute that the neocons supported this, it is a sign of weakness. If they did, then we are in deeper crap than we knew, with supposedly only 2 months left of rare earths and running out of munitions.
It seems this was done very quietly.
Trump may have bitten off more than he could chew and was misled by the neocons that this would be an easy victory.
I hope Ritter is right. The one thing he was right about was that there were no WMD’s in Iraq like Colin Powell and others claimed.
One more thing, if all this is true and deals are being made to end this, I believe Trump is at risk.
Strong dollar
They definitely got the strong dollar policy working for them.
Can’t even buy the dips with this stuff, it goes from weak to weaker to even weaker.
What they’re doing to silver today is just ridiculous.
Here comes a rumor or news: the QQQ’s just gained half its losses back in less than 30 seconds.
Nope, false alarm. Lost it all back. Silver trades tick for tick with the QQQ’s – only worse.
Kharg Island
So, there’s talk of “maybe we should seize Kharg Island and all it’s oil facilities.” IMO this is a stupid idea. If we want to deny Iran the ability to ship anything out of there all we have to do is bomb the machinery-pumps, pipes etc that ship the oil. We don’t need to take casualties and turn our men into targets for a political gains!
Captain – third term LOL
He won’t make it through this term. If he were to do a back door deal with Putin and end this war, the CIA/Mossad/neocon wing will kill him and then start with the false flag terrorist attacks here in the United States and blame Iran.
He screwed up, he danced with the devil and the devil wants his pound of flesh. There’s no satisfying the bloodlust of these people.
The only worse dance you can do is with the pm sector. 😂😞
Maddog @ 11:10
You are right … the next few weeks could be brutal.
They don’t want commercial buyers of silver continuing to step up to the plate moving forward (especially this month – a delivery month) as they are close to getting cleaned out. (war accomplishes this – where large commercial orders will be delayed or cancelled)
So it would not be surprising to see them keep the pressure on a few more weeks.
Based on my harmonics work published over 20 years ago – a 50% correction should be expected at such junctures. (looks like this could be a high degree correction if it does not reverse soon)
Rick Rule will be happy as he is looking for a buying opportunity and he might get one.
Chuckle
adogsbody
20 % for a bear mkt is a number the Media use for stox in general, it is a number they made up….For stox that barely move 1 % a day…when yr dealing with stox that happily move 5 or 10 % /day……I think u need a way bigger number….
What we have here is a C wave dn in serious correction…..are nowhere near even a 38 % correction of the last up wave, let alone a 50 % one.
adogsbody @ 10:55
Fully agree … but on the positive side … this proves the bull is still very young.
Traders … like the public … have had their brains bashed in for years via technology/conditioning.
The timing of this psyop is at exactly the same time in the Presidential Cycle as COVID.
They needed distraction – Epstein – and they got it.
If they don’t pull back soon though they could really piss-off a bunch of people.
The unintended consequences would be empire ending.
Even the desires of the Zionists will get delayed until they can figure something else out IMO.
The charts say a little more selling over the next week or two … and then attention will turn to the 250th Anniversary and the mid-terms.
It’s either that or Armageddon.
Isreal will use nukes.
Have a nice day
Captain Hook
When has Scott Ritter ever got anything right…if he told me tomorrow was Saturday….I would want two other confirmations.
GDX
If I am not mistaken this index is now in bear market territory.
Hard to watch when so many of these miners are flushed with cash.
Even at 4000 gold they are cash cows.
Dog
Buygold @ 10:30
If he wants a third term … he has no choice.
The fact he went to Putin to broker a deal means he’s serious.
It’s all fun and games until you threaten to take a psycho/control freak’s toys away.
Chuckle
Captain, deer79
Captain – I really hope that is true. Trump’s ego is massive, so it’s a little hard to believe. I’ll take some hope though. This is going to destroy the economy.
deer79 – these are the greatest wealth destroyers ever created. It’s just unbelievable how bad they get beaten. Silver is another one. Funny how a strong dollar crushes the pm sector but nothing else. Hopefully we can bounce today, but so many times this stuff goes down and just stays there all day.
PM stocks
…just continue to get obliterated….RSI’s go back down into the 20’s ( for quite a few that I own of course), and it just doesn’t matter. Extremely frustrating to watch…..
Trump Calls Putin To Get Iran War Offramp! w/ Scott Ritter
Jimmy and former weapons inspector and geopolitical analyst Scott Ritter break down the stunning geopolitical shift underway that finds a desperate Donald Trump, facing strategic defeat in Iran, lifting all sanctions on Russian oil and begging Russian president Vladimir Putin for help—with Kremlin economic envoy Kirill Dmitriev now meeting U.S. negotiator Steve Witkoff in Miami to broker the bargain.
Ritter tells Jimmy that Russia holds all the cards: with the Strait of Hormuz closed, global energy markets are collapsing, and only Russia can supply oil to Asia and Europe, solving its economic problems overnight while the U.S. runs out of missiles and faces economic catastrophe.
The potential deal would see America withdraw from the Middle East, lift sanctions on Iran, and constrain Israel—allowing Trump to claim “peacemaker” cover for a humiliating retreat. Ritter concludes this is 100% happening because the U.S. has no other option, and the only question is whether Israel can be stopped from destroying regional energy infrastructure entirely.
This could be real.
Mornin all
Inflation numbers were good, GDP slowing though
in normal times would be a good setup for a Fed cut.
Durable goods missed. GDP up 0.7% vs. 1.4% expectations.
PCE price index y/y up 2.4% vs. 2.9% expectations.
Nevertheless, the dollar is moving higher again. Rates down a bip.
Morning Maddog
Interesting. Funny how that gold chart looks so much better than the silver chart. Gold still maintaining its uptrend that started back in late August and bouncing along the 20 ema. Silver, OTOH, much tougher to figure. I guess there’s a little bit of an up trend that started in mid – Feb. after the death drop earlier in the month, but nothing to hang your hat on. We definitely need to move up from here for that to stay intact.
edit: Nice to see we’ve recovered from the overnight losses. Hopefully we can hold some small gains. Silver definitely seems to want to hold the $80 area, We could use a break from the strong dollar and rates. What is Trump going to do now about rates? Fed meets next week and I don’t see how they lower rates with the way oil has blown up, although I wonder if they’re concerned with the private credit market.
OTOH, they might just pat him on the head and say “good boy you did what we asked and got us back into a war.”
Au shud outperform Ag for a while
Looks like the spread cud rally back into the Hi 70’s or low 80’s
we can see 5 waves up, from the low then 3 waves down, that made a perfect 50 % retracement of the larger A wave up anr d now we have set off in a Larger C up.
Mr Copper
That wasn’t so bad. I would of like to know the cords to soul sacrifice by Santana but the drums are also a big part of it almost cuban soulful like. I would of actually liked to learn the banjo too music by Earl Scruggs. In southern California I jammed with other players or bands got offers even record offers by a manager at Disney who produced records making people famous but I wasn’t interested in going on the road or being famous. I just liked music and liked to play it or sing it not because I had to.
What music does your brother play.
@goldilocks re 11:10
My brother in California plays guitar too. Always had an entertainment group since the 1960s.
How about this? They make it look easy.
The Rolling Stones, Miss You 1997 Live