Oil, gas and mining

Oil Price Fall – Unnerving for OPEC & FED

#BrentCrude #WTICrude #IlluminatiSilver

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Gold & Silver Weekly Update w/e 31st December 2020

Today is Sunday 2nd February 2020 and yesterday we published our gold and silver weekly update for the week ending 31st January and if you haven’t had the opportunity to listen to it, we have placed a link in the description box below.

Now in that video we pointed out that amongst other things that Brent Crude prices closed at $56.62 down $4.07 cents on the week and WTI Crude closed at $51.56 and that’s down $2.63 on the week.

This fall in price is primarily blamed on the effects from the Coronavirus and is causing Saudi Arabia some concern as, it is claimed, prices much below $50 a barrel cause them financial difficulty, not because of the cost of extracting oil, they are one of the lowest cost producers but because of the financial commitments they have on spending these oil proceeds or profits.

Let’s take a brief look at a Bloomberg Article which was updated yesterday evening.

Now you may remember that back almost 2 years ago oil was plummeting, and many were forecasting that its price would fall below $20 and some were speculating as low as $10. We stated quite emphatically that prices were going to rise again from their then current $30 up to $50 and they will vacillate broadly between $50 – $60 because we knew this is where the equilibrium position held – in terms of acceptable profitability – after all this market, above all, we would argue, is most certainly rigged and legally so.

However, late last year we also pointed out that the world is actually becoming awash with Oil and with the US being self-sufficient due to fracking, in the main, and the world attempting to move to so called greener alternatives, we will see prices fall to the bottom of our $50 range and in the not do distant future, lower again. Not necessarily down to $20 or even $30 but eventually there will be anew range set for the next few years between $45 – $55 occasionally dipping below this low and occasionally exceeding this high. This may the one of the last opportunities that OPEC will be able to truly dominate this marketplace and frankly does so now only with the acquiescence of the US.

What interests us particularly about this issue is that oil is used in industry and in mining, and we can foresee the costs of gold and silver extraction possibly reducing but also will the rate of inflation and this will; cause the FED more headaches when its admitted to attempting to stimulate the economy to achieve an average inflation rate of 2%

So if we do see oil prices moving down even further, this may indeed influence the FED to reduce rates sooner that they would wish.

Before we end this podcast, we have also carried out an experiment by creating 2 new channels. The first is mainly for Trump supporters or alternatively those who are interested in Trump’s progress during the 2020 election and the second channel is a 10-minute discussion that I will have with controversially Greg on a regular basis on subjects outside the gold and silver arena.

We are going to introduce a number of changes to the channel over the coming weeks and beefing up the services we are offering to inner sanctum members. With this in mind we shall be using the side channels for those areas of interest but which not all of our illuminati silver members appreciate.

So we ask that if you are interested in Trump 2020 and Greg and I discussing non precious metal or economic issues, then please click on the links at the top of the description box below or those I have placed as the lead comment to this video.

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Important Links and videos:

The Impacts of Monetary Policy in the 21st Century:
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The New Silk Roads: The Present and Future of the World
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Gold, Silver and Rare Coins:
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Stack Silver Get Gold:
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