9 Mar, 2020 23:14
The US shale market is to bear the brunt of the raging oil price war that has sent Dow Jones and crude prices down, and Saudi Arabia will fare no better. Meanwhile, Russia has got the best hand in the game, Max Keiser believes.
There are several causes for the slump in oil prices, and the dispute between Moscow and the Riyadh-led OPEC and a coronavirus outbreak is not an exhaustive list, the host of RT’s Keiser Report believes.
We are also witnessing a “part two” of the 2008 crisis with the credit bubble blowing up again – something that was only waiting to happen, per Keiser. “If you just give the same bad guys a bigger credit line to do the same bad things, that’ll result in the same bad outcome.”
Whatever the reasons behind the oil market meltdown, Russia is in a better position to handle it. As opposed to the US shale oil, Russia’s is much cheaper to extract, and it doesn’t have a massive debt to deal with, unlike Saudi Arabia.
Turns out, Russia’s got the best hand in the geopolitical oil game
The US, on the contrary, is in “really bad position” in this high-stakes game, with American shale oil stocks already taking a hit, and Keiser predicting this “will be a complete evisceration of the American shale industry. It’s going to need a massive bail-out, a massive money printing.”
The US dollar is going “to suffer greatly” during the crisis that will ultimately spell an end to it being the strongest and most-trusted global currency.
Today is the end of the petrodollar. We are going to see the rise of the ruble-dollar or the Chinese-Russian oil-based dollar.
The era of the US holding the world’s reserve currency is “finished,” Keiser said, adding that the hyper-inflated US stock market should also gear up for a shock. Dow could trade down to as low as 8,000 when the earnings emerge to reflect the actual performance of the companies.
© Russia Today 2020
I guess after saying this same old tired line maybe he’s finally right?
Yeah right, the ruble just lost 7% against the dollar, LMAO!
Talk about distraction…
Moscow’s main MOEX Index plunged 10 percent on Tuesday to 2,463.30 at the opening bell at 10:00am local time, according to data of the Moscow Exchange. The RTS dollar index dropped 9.86 percent to 1,133.94. Sure looks like the dollar is dead, once again. It’s been dying since 1991 according to Russia, but somehow it keeps bouncing back. 😁
Keiser is an evil little rat who has been pumping out lies and hate for RT for many years. He needs to be incarcerated with all the other putinoid scum and useful idiots.
PS: notifications are not working on WP at present. I am getting notifications via email though.
I only get a few. Something seems to be broken. Maybe Corona?…
I’m pleased to note that it looks like I’m getting your replies and likes now Mike. But not notifications of articles posted for some odd reason.
I’m getting notifications on my PC, and my mobile app. Sometimes I have problems with notifications on the PC, but it’s usually a temporary thing.