Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse

Sri Lanka Asks Russians For Help, Suspends Fuel Sales Amid Economic Collapse

A broken and extremely cash-strapped Sri Lanka halted all fuel sales except for essential services in a desperate attempt to manage a severe fuel shortage — allowing the government to buy some time and send two government officials to Russia...
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Russia Will Pay Its Foreign Debts in Rubles

Russia Will Pay Its Foreign Debts in Rubles

On June 23, Russian President Vladimir Putin signed a decree on the payment of foreign currency debt in rubles. Roughly speaking, transactions will be made through a ruble account at the domestic market rate. Payment of such debt on the...
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Saudi Arabia reportedly pressured to pump more oil

Saudi Arabia reportedly pressured to pump more oil

Saudi Arabia may agree to boost oil production to cool skyrocketing prices if Russia’s output falls significantly under the new EU sanctions, the Financial Times reported on Thursday. The Kingdom, the world’s largest oil producer, has repeatedly rejected d...
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China Has ‘Financial Nuclear Bombs’

China Has ‘Financial Nuclear Bombs’

China Has ‘Financial Nuclear Bombs’ If West Levies Russia-Style Sanctions, Beijing Warns Multiple analysts at Chinese state-linked think tanks and banks have weighed in on the Biden administration’s recent threats to punish the world’s ...
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Oil Prices Soar Despite Petroleum Reserve Release

Oil Prices Soar Despite Petroleum Reserve Release

Crude prices continued to rally on Tuesday morning despite the news of concerted SPR releases. The IEA Ministerial Meeting being held on Tuesday has resulted in an agreement of some of its members to release 60 million barrels of crude...
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Gundlach Warns Dollar Is “Doomed”

Gundlach Warns Dollar Is “Doomed”

It has been a while since DoubleLine Founder Jeffrey Gundlach sat for a lengthy interview with CNBC’s Scott Wapner, aka “the Judge”, during the network’s “Halftime Report”. Gundlach has at times clashed with various CNBC pe...
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Something Happened on the Way to Monetary Heaven

Something Happened on the Way to Monetary Heaven

Something Happened on the Way to Monetary Heaven: Janet Yellen’s Plunge Protection Team Has $142 Billion to Play With. Most Americans are unaware of the existence of the Exchange Stabilization Fund (ESF). Together with the Federal Reserve Bank of New...
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World After Countless QEs:  A Shortage Of Everything

World After Countless QEs: A Shortage Of Everything

In last press conference, Jay Powell confirmed that the Fed is setting off on a historic experiment: welcoming a conflagration of red-hot inflation for an indefinite period of time in an overheating economy, with the underlying assumption that it’s all.....
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Commodities Are Soaring 25%

Commodities Are Soaring 25%

As BMO’s Doug Porter shows, the year-over-year rise in a basket of commodity prices (and they mostly all show a similar pattern) is now a bit above 25%. This is a problem because in the past 20 years, that’s been consistent with headline inflation....
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The Probability of a Stocks and Some Commodities Markets Crash in 2021: 97% (0.97)

The Probability of a Stocks and Some Commodities Markets Crash in 2021: 97% (0.97)

I publicly predicted market crashes: October 1998, spring 2000 dot .com bubble, 2008 MBS scam/crisis, spring 2020 market meltdown. Now I publicly predict the heavy market crash of 2021. I will publish the exact timing just in tight advance (as...
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Schedule of the delayed OPEC+ webinar

Schedule of the delayed OPEC+ webinar

The delayed OPEC+ webinar on Thursday will arguably be the most important gathering of ministers to date, with countries outside OPEC+ also poised to potentially tune into the discussions, thus presenting scope for coordinated action. The meeting is due to...
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Oil rallies 24 to 36% within minutes after Trump says he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut

Oil rallies 24 to 36% within minutes after Trump says he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut

Saudis and Russia deny every Trump’s word. Brent oil shoot up 36% (temporary) and West Texas up 24% This was the most expected market event amongst commodities traders. The President later said in a tweet that a production cut would be...
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Banks, Big Oil, Boeing Stocks Crashed Spectacularly, Biggest Crash Since Lehman Event

Banks, Big Oil, Boeing Stocks Crashed Spectacularly, Biggest Crash Since Lehman Event

When two black swans collide and third is en route. Folks, it is just warm-up lap. $2.5 Trillion wiped out as world stocks crash most since 2008. Bank of America, Citigroup, Deutsche Bank, Commerzbank down 14 percent, British Petroleum crashed...
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Markets Crash In Worst Week Since Lehman Event

Markets Crash In Worst Week Since Lehman Event

Friday’s market performance has traditionally been the weakest, even during the meltup phase ahead of the recent coronacrash, and as such it will probably not come as a surprise that today’s overnight rout which followed the biggest 6-day correctio...
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Gasmaggedon sweeps over global gas market

Gasmaggedon sweeps over global gas market

China’s state-owned gas importers are considering declaring force majeure on LNG imports, which would amplify the turmoil in global gas markets. Shipments of oil and gas are backing up at Chinese ports, which is creating ripple effects across the world....
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