BofA/Merrill: The House of Saud Might Remove Itself from the Tit of the U.S. Dollar; Black Swan Event For Oil Looms

Oh my, this is the biggest crock of shit since Dennis Gartman said he’d be dead before crude saw $44 again.

Francisco Blanch, head of horseshit at BofA/Merrill, wasted everyone’s time with some capricious headline of a ‘black swan’ event occurring in crude–with his main thesis being Saudi Arabia depegging from the U.S. dollar.

That’s like saying House DuPont would stop trying to control the world or Monsanto the food supply. Outrageously naive analysis by BofA’s chief.

He thinks crude can trade up to $75, but offered no price target for his black swan event–because even he doesn’t take it seriously.