Oil Supplies Hit 80-Year High
March 18th, 2015Via: Yahoo:
WTI crude (CLJ15.NYM) prices are taking another leg down, hovering at the $42 a barrel level after the U.S. Energy Information Administration reported that “U.S. crude oil inventories are at the highest level for this time of year in at least the last 80 years.”
EIA reported commercial crude inventories increased by 9.6 million barrels from the previous week. Now at 458.5 million barrels. This follows a huge inventory build of 10.5 million barrels, reported late Tuesday by the American Petroleum Institute. Analysts were expecting just 3.5 million.
Being from Houston, at first I thought the dropping price in crude was bad news. Especially laid off folks around here employed by oil companies.
I light of the impending rumored global currency reset, I think it is genius for the US to have vast inventories out of the ground already.
Taking on the preparation mindset. This might be good for many months while the world banking systems sort things it out?
A few notes I took today:
Additional clues of May/June de-dollarization timeframe …
blogger of glp today:
” … about to hit the fan folks…a former Federal Reserve employee and brilliant economist came out and said the other day that the dollar, in his estimate, has about 60-90 days of life left. Sounds crazy considering it’s extreme parabolic move higher…let’s say it’s 2x as long as he says, that’s still this fall. ….”
Bank of China Announces Renminbi Yuan World Reserve Currency Bangkok Airport
https://youtu.be/Q4hvXpfu8RU
Yuan to depeg from USD May/June 2015 – Its gold reserves announced to IMF
https://twitter.com/KoosJansen/status/573741664898056192/photo/1
Life savings denominated in dollars, dollar based accounts, pensions, stocks and brokerage will be wiped out?
Six to twelve months of chaos like episodes in the ‘Walking Dead’?
And never forget this one:
“We’ll Kill the Dollar”
https://youtu.be/_F7bM63ZfWQ
So it goes …