Archive

Posts Tagged ‘governments’

Will 2013 Be Known As The Year America Dies?

December 17th, 2012

Paul Joseph Watson: Will 2013 be remembered by future historians as the year that the United States of America to all intents and purposes died as a Republic and was finally seized by authoritarian globalists who have already openly usurped governments all across Europe? Read more…

Economy, Government

Why The U.S. States Must Secede To Save The Country

November 18th, 2012

Infowars: Radio host Alex Jones today called for a second American Revolution led by states who would secede from the federal government and reconstitute the Republic under Read more…

Government

Congress Are You Listening?

August 19th, 2012

Toby Connor: Well, it’s that time again. Every two years our senses are assaulted as politicians spew an endless stream of nonsense in the attempt to garner votes Read more…

Economy, Government

Gaddafi Threatens to Torch Libya’s Oil

February 23rd, 2011

Yikes… Oil is up again this morning. West Texas Intermediate has blasted up to $96.78. (Barely a week ago, it was $85.) Brent is up to $109.02.

According to Reuters, Libyan oil production is already down to three-quarters of normal. And that could soon plunge to zero… If it’s true that a desperate Col. Gaddafi is looking to torch the pipelines leading from his country’s oil fields to Mediterranean ports.

“Gaddafi has ordered security services to start sabotaging oil facilities,” a source close to the regime tells Time intelligence columnist (and former CIA case officer) Robert Baer. “The sabotage, according to the insider, is meant to serve as a message to Libya’s rebellious tribes: It’s either me or chaos.”

“Seriously,” muses our own Byron King, “I wonder if any of Gaddafi’s goons will pull the trigger. Maybe… Saddam Hussein and Desert Storm sort of speaks for itself.”

Just in case you need a reminder of what happened 20 years ago this month…

Jets Fly Over Kuwait
Scorched earth: US jets fly over the Kuwaiti oil wells torched by Saddam Hussein, 1991

As Iraqi forces retreated from Kuwait in 1991, Saddam Hussein ordered his troops to set fire to some 700 oil wells. Nine months passed before the last fire was put out.

Baer says if Gaddafi can’t get the tribes back in line, he’ll turn Libya into a Somalia…with oil. To start that process, he just released some Islamic militant prisoners to stir things up.

It may be just a bluff. Then again, Gaddafi’s own interior minister just joined the opposition. Desperate men do desperate things. We’ll be watching.

“Oil prices could go up substantially even from these levels,” says Vancouver favorite Marc Faber. “I don’t think that oil is expensive compared to other commodities or compared to other goods prices in the world.”

And if that doesn’t make sense to you, we’ll share this chart with you one more time:

Commodity Prices 2008 vs. Today

“Further gains would, obviously, depend on some political problems,” Faber continues – for instance, “some interruptions in oil supplies.”

“Things are (finally) starting to come unglued in the Middle East,” says Byron King, writing today from his old stomping grounds in the Texas oil patch. “Are you surprised? Much of this discord – great and small – has been festering for a long time.

“And also, for a long time, a lot of forces have been working for the pots NOT to boil over. We’ve seen a lot of big power accommodation toward crummy governments, run by thieves and despots, if not zealots and ideologues, if not just plain mentally ill sociopaths.

“Even the much-vaunted ‘resource nationalism’ of recent years is, at root, ‘resource larceny’ by the top dogs. Look at Libya, with 7 million people and $50 billion in nationalized oil money per year. That translates to something over $7,000 per person, yet the place is impoverished. Where did all the money go?

“At any rate, you need to understand that the post-World War II era – which was, in many respects, so favorable to the US – is just plain falling apart before our eyes. It worked until it stopped working. Now? I think it’s broken pretty bad.”

Addison Wiggin
for The Daily Reckoning

Gaddafi Threatens to Torch Libya’s Oil originally appeared in the Daily Reckoning. The Daily Reckoning has published articles on the impact of quantitative easing, bakken oil, and hyperinflation.

Read more here:
Gaddafi Threatens to Torch Libya’s Oil




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Commodities, OPTIONS, Uncategorized

Gaddafi Threatens to Torch Libya’s Oil

February 23rd, 2011

Yikes… Oil is up again this morning. West Texas Intermediate has blasted up to $96.78. (Barely a week ago, it was $85.) Brent is up to $109.02.

According to Reuters, Libyan oil production is already down to three-quarters of normal. And that could soon plunge to zero… If it’s true that a desperate Col. Gaddafi is looking to torch the pipelines leading from his country’s oil fields to Mediterranean ports.

“Gaddafi has ordered security services to start sabotaging oil facilities,” a source close to the regime tells Time intelligence columnist (and former CIA case officer) Robert Baer. “The sabotage, according to the insider, is meant to serve as a message to Libya’s rebellious tribes: It’s either me or chaos.”

“Seriously,” muses our own Byron King, “I wonder if any of Gaddafi’s goons will pull the trigger. Maybe… Saddam Hussein and Desert Storm sort of speaks for itself.”

Just in case you need a reminder of what happened 20 years ago this month…

Jets Fly Over Kuwait
Scorched earth: US jets fly over the Kuwaiti oil wells torched by Saddam Hussein, 1991

As Iraqi forces retreated from Kuwait in 1991, Saddam Hussein ordered his troops to set fire to some 700 oil wells. Nine months passed before the last fire was put out.

Baer says if Gaddafi can’t get the tribes back in line, he’ll turn Libya into a Somalia…with oil. To start that process, he just released some Islamic militant prisoners to stir things up.

It may be just a bluff. Then again, Gaddafi’s own interior minister just joined the opposition. Desperate men do desperate things. We’ll be watching.

“Oil prices could go up substantially even from these levels,” says Vancouver favorite Marc Faber. “I don’t think that oil is expensive compared to other commodities or compared to other goods prices in the world.”

And if that doesn’t make sense to you, we’ll share this chart with you one more time:

Commodity Prices 2008 vs. Today

“Further gains would, obviously, depend on some political problems,” Faber continues – for instance, “some interruptions in oil supplies.”

“Things are (finally) starting to come unglued in the Middle East,” says Byron King, writing today from his old stomping grounds in the Texas oil patch. “Are you surprised? Much of this discord – great and small – has been festering for a long time.

“And also, for a long time, a lot of forces have been working for the pots NOT to boil over. We’ve seen a lot of big power accommodation toward crummy governments, run by thieves and despots, if not zealots and ideologues, if not just plain mentally ill sociopaths.

“Even the much-vaunted ‘resource nationalism’ of recent years is, at root, ‘resource larceny’ by the top dogs. Look at Libya, with 7 million people and $50 billion in nationalized oil money per year. That translates to something over $7,000 per person, yet the place is impoverished. Where did all the money go?

“At any rate, you need to understand that the post-World War II era – which was, in many respects, so favorable to the US – is just plain falling apart before our eyes. It worked until it stopped working. Now? I think it’s broken pretty bad.”

Addison Wiggin
for The Daily Reckoning

Gaddafi Threatens to Torch Libya’s Oil originally appeared in the Daily Reckoning. The Daily Reckoning has published articles on the impact of quantitative easing, bakken oil, and hyperinflation.

Read more here:
Gaddafi Threatens to Torch Libya’s Oil




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Commodities, OPTIONS, Uncategorized

VIX Falls as Fear Returns

October 12th, 2010

Fear is looking cheap again.

The Volatility Index fell yesterday to 18.98 – its lowest level since April 29. That date happens to fall a few days after the Dow and the S&P hit their post-2007 highs…and a few days before the May 6 “flash crash.”

If you’re not familiar with the VIX, it’s a measure of fear in the market, based on what people are paying for options on the S&P 500.

VIX Decline

Today, even as fear rises ever so slightly, the VIX struggles to break through 20.

“We are getting close to extreme territory,” said Chris Mayer on April 12, when the VIX sat below 16. “We are near the limits of what that great rubber band of life will absorb before it snaps back. The VIX usually hovers between 10-20. So we are not quite there yet, but the tension is building.”

He went on to cite some of the factors…

“The financial system is still a rather creaky affair. Leverage is still high. Banks remain undercapitalized. The credit cycle has not yet run its full course, as there are still significant credit losses hiding in the cupboards of banks.

“Then there are the governments of the world. The US has awful credit metrics. It is bleeding money and owes huge debts. The states are also bleeding money and have large debts, including giant gaps in unfunded pension liabilities. They are perhaps worse off, because unlike the US government, the states cannot print their own money. Then there is the EU. And Japan.”

We ask this morning: How much of this has changed, six months later to the day?

Addison Wiggin
for The Daily Reckoning

VIX Falls as Fear Returns originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”

Read more here:
VIX Falls as Fear Returns




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

OPTIONS, Uncategorized

Copyright 2009-2013 MarketDailyNews.COM

LOG