Oil just crashed

[Geek Nasty]

Bout to cop that 2020 diesel tanker, two tone with the cherry red bottom

Roll into the dock with 760 credit zero down, sailing that bytch right off the lot

With your bytch in the navigator chair

 

[DEAD7]

Hopefully this downturn causes the world to quit paying for future oil and just pay for present oil like most every other product in existence.

 

[Jalether]

Just ordered 60 barrels for $8
Got notification from opec, delivery is on friday

 

[alpo]

It's funny, I was raised in the Bush era where I was taught that gas was a nonrenewable resource that is doomed to fail and we need to find alternative methods of running our engines.

Now that a pandemic has happened and we found several different methods of running our engines, the demand for oil being at an all time low is now a bad thing.

that’s why it’s important to not follow people

 

[IAMDetroit]

They've been deleting his conspiracy theory threads fyi

Ive never posted a conspiracy thread.
Maybe one but FOH

 

[JordanWearinThe45]

Oh shyt

I just thought about Venezuela, nikkas is legit gonna have to abandon that whole country

Why?

 

[Trajan]

Back in 2015/2016 when prices was hella low Saudi Arabia had to burn through a large amount of their cash reserves to the point the IMF said that if prices stayed low Saudi Arabia would go bankrupt. This was when oil was $65 a barrel. The Saudis need oil to be $86-88 a barrel to balance their budget. We are at negative dollar territory so they cannot sustain that for long. Before the last oil drop Saudi Arabia had $770 billion in cash reserves. From 2015-2017 that number dropped to $500 billion. That means in two years they spent $200 billion of cash before oil makers got normal in 2017z Prices went back up again but things haven’t changed for the Kingdom. They have a very expensive war in Yemen, have a bloated military budget and plans to build a new city in the desert. So the Saudis can’t maintain this for long. Because if oil stays below $80 for the next 2 years they will have their cash reserves drop to $100 billion and we will see a insolvency crisis in Saudi Arabia.

Facts

I will add that their other great source of income, religious pilgrimage, is on pause right now due to corona.

Its real peak for MBS right now

 

[IAMDetroit]

for those of us not in the top 2% corona is the great equalizer.

so many ways to come out of this better than you went in.

I say let all this shyt crash.

The new “trickle up” economy

people out here getting 10K from uncle sam but they didnt need it rly

 

[IAMDetroit]

Suddenly?

 

[MeachTheMonster]

people out here getting 10K from uncle sam but they didnt need it rly

People is me.

Applied for everything under the sun. Stacking good money right now.

 

[IAMDetroit]

This is a planned strategic move, the government is in on it. They want us to panic. Everything will be fine.

Rude Awakening OTW

 

[IAMDetroit]

People is me.

Applied for everything under the sun. Stacking good money right now.

Me and my girl too.
Coli tried to shame me.
Nah im moving up brackets every year.

 

[IAMDetroit]

Spooky USA will subsidize everybody but the citizens

Every man woman and child contributes to the GDP.
You state property as soon as you get a birth certificate (security document).
Thats why the census is levied.
When the Federal Reserve was created they took a loan based on the GDP.

 

[Micky Mikey]

Hopefully this downturn causes the world to quit paying for future oil and just pay for present oil like most every other product in existence.

Or just influences the world to invest more heavily in cleaner forms of energy

 

[IAMDetroit]

110 years was a good run fukkboys.
The Meeting at Jekyll Island | Federal Reserve History

Heres the clean history of the longest running ponzi scheme in history

By the fall of 1910, Aldrich was persuaded of the necessity of a central bank for the United States. With Congress ready to begin meeting in just a few weeks, Aldrich -- most likely at Davison’s suggestion -- decided to convene a small group to help him synthesize all he had learned and write down a proposal to establish a central bank.

The group included Aldrich; his private secretary Arthur Shelton; Davison; Andrew (who by 1910 had been appointed assistant Treasury secretary); Frank Vanderlip, president of National City Bank and a former Treasury official; and Warburg.

A member of the exclusive Jekyll Island Club, most likely J.P. Morgan, arranged for the group to use the club’s facilities. Founded in 1886, the club’s membership boasted elites such as Morgan, Marshall Field, and William Kissam Vanderbilt I, whose mansion-sized “cottages” dotted the island. Munsey’s Magazine described it in 1904 as “the richest, the most exclusive, the most inaccessible” club in the world.

fukk that. They orchestrated a war and economic collapse and manipulated the government into using paper play money as its currency.

The worst part besides the debt=money money=debt cycle.
Besides interest being greater than 1, in the form of a currency i pay to have printed. For every dollar we owe 1+, but we have to print more to pay that, so we owe more, so we print more, so we owe more....
No standard, no good to back it, no commodity to measure its worth. Only debt.

Nah the worst part is Fractional Reserve Banking.