Obama’s good friends, the Iranians, are back to selling their crude on the world markets again, much to the chagrin of our other dear friends, the masterminds behind 9/11, the Sauds.
Cramer posits that Iran is offering extreme discounts to recapture market share, which is exacerbating the crisis. Furthermore, short sellers are using the deleterious events in the oil patch to start targeting banks who have lent money to the industry.
OPEC is a thing of the past. Free markets, and desperate men, are destroying value in the oil patch. The sort of selling we’re seeing is reminiscent of past bubbles– when they popped– and the margin call sellers who were forced out, as a result.
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Iran has been selling black market oil to the Chinese since the embargo. China has been paying a such a cheap price for it that they are not so wild that they have to pay at the higher level. For the end of day rally attempt, US BEARS ARE SCARED of what Mario D will say tomorrow. BOY I wish he says he is just happy with the progress.
What’s your opinion on Ramzi Yousef and his relation w KSM? He’s his nephew and the true mastermind is my understanding. OBL and him happened to have similar goals. We had plenty of warnings from 1993 to the mid 90s and the fatwa. We just didn’t take the threat serious enough imo.
Excuse me, KSM being the mastermind.
Iranian oil IS the whole oil crisis. Otherwise oil wouldn’t have dropped to crisis levels to begin with. Anticipation of the world market being flooded with oil, after sanctions were lifted on Iran, caused this big drop to begin with.
Frog. Nevermind
Frog. Caused what big drop?
From the 90s?????????? (oil)