/truenews/ - True News

>It therefore made total sense for the Saudis last year to maintain production at existing levels in order to price the US shale oil producers out of the oil market.

Looks like the Golden Jackass (Jim Willie) was right about that. Stunning prediction there! Was this Putin who negotiated this with the Saudis? It sounds like cunning retribution against the US for attempting to undermine Russia via sanctions. This could hurt folks, this could hurt the US bad! Not a good sign for our future economy, at all!

>>447

Could you explain some possible outcomes that the US could be seeing from this.

>>449

Speculation has been for a while, within the realm of people 'in the know', that Saudi Arabia has been covertly undermining US shale oil producers, by increasing oil supply at cheaper and cheaper prices. It looks like this is the case. ((Why they are doing this? I don't know what they are planning for - could be planning to mandate future gold for oil trade - but that's still mere speculation)).

How will this effect our economy? Well if accurate, it will bankrupt US shale producers. Wall street would loose billions, if not trillions, in investments, and this would crash the oil derivatives as well, causing the need for yet another big banker bailout. So, just this alone, could shake our economy up big time and cause some real problems with economic stability, then add on all the other problems we still face - mass US T-bond dumping, alternative trade deals around the globe now bypassing the petrodollar reserve (set up back in the early 70s which mandated countries to use the dollar to trade for oil - an OPEC approved standard for some time), etc.

>>449

>>450

It is also important to take into account, the long-term consequences that impact the average American family: expect within the next few years a significantly reduced standard of living, hyperinflation due to US banking insolvency, a partially dismantled (or worse, completely defunct) petrodollar standard (which was a luxury of the past), significant increase in poverty and govt desperation to maintain control over unruly civilians who have fallen victim to the demise of the USD $$$ hegemony.

If Putin has his way; (his retribution against the US for interventions and economic sanctions); things could get very nasty for the US, economically speaking. We had a president who was dumb enough to poke an angry bear in the eye, and this could have some devastating consequences. The goal of Russia and China is to completely dismantle the petrodollar and transition to a more solvent system based on mineral reserves, gold-backed currencies, bartering commodities, alternative payments outside US control or interference. So this is a VERY BIG deal to say the least. WWIII is a probability from here on out.

>>451

So in your opinion, what should a middle class person do in the foreseeable future regarding mutual funds, buying gold and silver, etc? I've read some doomsday arcticles concerning this situation that debts among U.S. civilians (after dollar collapse) will be either:

1. wiped away when the new currency is ushered in

2. after new currency, all debs of U.S. citizens will be collected after a new program to handle national/citizen debt

Sounds hogwash on those last 2 points.

>>452

First of all you need to think about everything you *need to use to get by day to day. The stuff that you must have or you would suffer or die without having.

(Food, water, sanitation products [like soap, toilet paper, bags for waste disposal, rags, if you live with a GF or wife then you'll need tampons, condoms, etc], a supply of fuel and a generator / or a solar generator w/ 12V battery and power inverter, you need self defense [guns/ammo/barrel lube/cleaning kits], you'll need some basic tools and supplies [expect having to use what you have to board up, to fortify you're doors and windows from looters and marauders], extra clothing/ a pare of boots and blankets [for when it gets cold], spare change [short-term] and silver coins [long-term] will be used to barter, a flashlight, handcrank / solar-powered radio too, and extra medical supplies).

If you are currently addicted to any drugs, or have a drinking problem, start weening off NOW or quite cold turkey (I had to, so I know how bad it feels).

Remember to first stock up on these basics BEFORE you start buying silver. All that silver will do is protect what wealth you have, but will NOT guarantee you'll have access to the mentioned items above to barter for after SHTF. Most people will not have these items, and will be killing and looting for them. STAY AWAY FROM RIOTS, STAY AWAY FROM SOCIETY WHEN THE CURRENCY COLLAPSES! Why?

Read this, this is what happens and what to expect and it ain't pretty:

http://www.thecommonsenseshow.com/2014/12/26/mass-murder-widespread-starvation-and-even-cannibalism-accompany-a-currency-collapse/

When the currency 'reset' happens, it will not be a total default like most people hope for. It will be a series of sever devaluations (loss of purchasing power) … and then, it will die over a small period of time. Likely a new currency will be in place later, but won't be worth jack shit compared to the dollar and creditors will still demand collateral for all debts held (just like in Greece). Expect bail-ins (bank account / safety deposit box confiscations).

Do whatever you can now to prepare, but due to new laws in place, you cannot withdrawal more than $10,000 in cash per time. IF you do, you'll get hammered for it by the FBI and IRS. So slowly withdrawal a few hundred in cash, week by week and use it to stock up on assets.

Credit cards and checks are exempt from these new regulations, so you can still legally purchase all you want through a credit card or check. Expect that to change though, soon.

Here is a list I've made full of businesses you can contact and buy supplies from: https://archive.is/3nYDO

Another note: survival companies that sell food these days are way over-priced. I recommend you buy bulk cheap foods like rice, beans, split peas, oatmeal, grits, popcorn, split-peas, spaghetti, etc. Buy bulk, and save money that way, cheap foods that can last with a long shelf life! Canned foods like spam and soups can last a long time too.

Secretary John Kerry and friends have managed what can only be called a brilliant double suicide. The September 2014 deal with Saudi Arabia to crash oil prices, then at $103 a barrel for US WTI grade crude oil, not only has managed to bring the US shale oil industry—Washington’s new strategic card allowing the US to essentially abandon her Saudi and Gulf Arab allies–to the brink of bankruptcy and collapse. The oil price collapse, ironically, also gave Russian oil beautiful profits and forced the companies to turn east for far larger and more lucrative new markets. Team Russia-Saudi Arabia: 2 to 0 for Team USA-Canada.

At the present rate of developments, with oil prices frantically being pushed up by derivative trades only to crash back the next day, today hovering at $47 a barrel for the benchmark US West Texas Intermediate or WTI, I would estimate that a major share of USA shale companies will be forced to declare Chapter 11 bankruptcy before year-end or into the first quarter of 2016.

By now the story is well-reported. In September 2014 US Secretary of State John Kerry made a trip to Saudi Arabia to meet the dying King Abdullah, his Oil Minister Ali al-Naimi and others. Kerry was armed with a proposal believed to have generated from one of the many Washington policy think-tanks. He proposed to the King that the world’s largest oil producer crash the world oil price. For Kerry it was a seemingly brilliant way to deal a devastating blow to Russia’s oil-reliant economy and the state budget revenues, heavily dependent on oil and gas.

For neo-cons such as Victoria Nuland, Assistant Secretary responsible for waging war on Russia, it was orgasmic. Only one problem. It’s backfired colossally.

https://archive.is/SCZ0y

http://journal-neo.org/2015/09/09/kerrys-double-assisted-suicide-russia-oil-gains-america-loses-from-sanctions/

Someone smart posted this @ /n/

I'll just put my opinion out there on this shit.

So Russia won despite the useless sanctions imposed on them. Good on them. They showed the world they will not be pushed around anymore. The same goes for China since they are showing off their military building islands and patrolling the seas with ships and planes. It is also funny that some people think they are poor and have no money to fund a future war with the US. This is all western propaganda in a nutshell. We were told the sanctions will do something but they found a way around it. We were also told they had no money but that is not true since they are making money off us by making our shit and buying gold. These countries are getting ready for de-dollarization where they will not rely on the dollar anymore as a reserve currency or a currency to buy oil. Simply put, they will make their own system; see BRICS. It would not matter either if the US dropped China from all it's business manufacturing whatever we told them to make for us because when that day happens, China would be independent enough to be self sufficient without US influence. By that time they will not play the petro-dollar game with the US anymore. They really don't need us anyway. We gave them the plans to make everything so all they need to do is make the product and sell it to other countries aside from the US. And forget the "counterfeit" propaganda you've been hearing. They can make an official product like an iPhone and sell it elsewhere but the US will call that counterfeit even though it has the same technology inside. What makes a product counterfeit or not nowadays is a stamp of approval from some US shill. And yes, quality control is improving in China.

Now speaking of economics, we saw China's stock market crash and it's money being devalued last month. All of this is engineered so the US can blame them for screwing up the global economy. But why blame them in the first place? The US is the top economy manipulating the world economy anyway. Why not blame the US? Again, it is all propaganda. The US is doing this because those in power want a future war with these countries. So what do you do before a war? You demonize the people of the country you are going to war with. Make fun of them, call them names, mock their way of life, even use espionage to cause blame. This is all psychological programming so the people of the US will be conditioned over time to hate the Chinese and the Russians. Once it gets to that point where even mentioning those countries gives a feeling of disgust, you won the people over and it makes it easier to kill the Chinks or the Reds.

TL;DR The US will have a future war with China, Russia, and possibly Iran and will lose. China and Russia will have their own reserve currency which everyone will flock to for security of their wealth when they see the collapse of the US. Millenials and baby boomers aren't as effective as disciplined Chinese and Russians, which is one reason why the US will lose.

"US oil and gas driller Samson Resources has filed for bankruptcy in Delaware, undone by a collapse in energy prices and billions in debt that KKR & Co. and other investors piled on to fund a 2011 takeover.

Oklahoma-based Samson and its owners were stung by the same drop in energy prices that put money into the pockets of consumers through lower gasoline and heating costs, while driving other producers, such as Sabine and Quicksilver Resources, into Chapter 11.

Samson’s filing may be one of the biggest energy bankruptcies in the US this year, but it probably won’t be the last."

https://archive.is/j9Clv

https://www.energyvoice.com/oilandgas/87942/us-shale-oil-driller-samson-files-for-bankruptcy/

A Chinese investment holding company intends to put down stakes in the United States after signing a letter of intent to purchase oil properties in western Texas for $1.3 billion through a limited liability partnership.

The Shanghai-listed Yantai Xinchao Industry Co., said in a securities filing over the weekend, it was a purchasing oil lands in the Texas counties of Howard and Borden as part of the proposed acquisition of Ningbo Dingliang Huitong Equity Investment Center, according to the Associated Press.

The news service also reports Yantai Xinchao said in its letter of intent, the transaction, worth 8.3 billion yuan, has been “approved by the Committee on Foreign Investment in the United States” which is part of the Treasury Department.

The oil properties are being purchased from Tall City Exploration LLC and Plymouth Petroleum LLC, according to the Wall Street Journal.

Neither Tall City Exploration or ArcLight Capital Partners LLC, the parent company of Plymouth Petroleum, returned requests for comment by the time of this posting. We will update if things change.

https://www.youtube.com/watch?v=aYUdIDcSElw

The Wall Street Journal also reports Chinese energy companies have been longing to do business in the U.S. because of “stable laws governing oil exploration and production.” The publication adds:

“But U.S. restrictions on Chinese investment in potentially sensitive areas means investment in the U.S. energy patch by Chinese companies is, to date, limited. Yantai Xinchao said it had already received permission from the U.S. government for the deal.

…

“Chinese companies are looking abroad for oil deals partly because of tight restrictions at home, making investment in oil-and-gas exploration and production next to impossible in many cases. State-owned oil behemoths dominate China’s energy landscape, leaving little space for independent companies to invest. China’s government says it aims to bring more private capital into the oil sector as part of ongoing reforms.”

https://archive.is/260Pc

http://www.opb.org/news/article/npr-chinese-firm-plans-13-billion-purchase-of-texas-oil-lands/

Expect major US shale oil producer bankruptcies to occur come 2016! It's over! We are going to become a third world nation! Prepare yourselves and do what you can to protect what wealth you have!

OPEC Export Price Falls Below $40 for First Time Since 2009

The average price of crude sold by OPEC fell below $40 a barrel for the first time 2009, underscoring the financial cost of the group’s strategy to defend its market share.

The daily OPEC Basket Price fell to $39.21 a barrel on Nov. 13, according to an e-mail on Monday from the organization’s secretariat in Vienna. The basket, an average of export grades from each of the group’s 12 members, typically trades below international oil futures as some OPEC nations pump denser or higher-sulfur crude that’s less profitable to refine.

Oil has slumped since the middle of last year as the Organization of Petroleum Countries keeps output elevated to pressure rivals it sees as responsible for creating a global surplus. A decline in production among its higher-cost competitors including U.S. shale drillers has now slowed, with output still above last year’s level. With OPEC members’ revenues diminished, the group may reconsider its approach if the price slump persists, according to the International Energy Agency.

https://archive.is/HOzrd

http://www.bloomberg.com/news/articles/2015-11-16/opec-export-price-falls-below-40-for-first-time-since-2009

Oil Bust Kills Off 19 Million Barrels Per Day Of Future Oil Production

The collapse in oil prices have led to severe cuts in spending and investment from oil producers, and a new report finds that the combined cuts will lead to a daily 19 million barrels of potential future oil production taken off the table.

The report from Tudor, Pickering, Holt & Co. finds that oil companies have either cancelled or suspended final investment decisions on 150 oil projects, which account for about 125 billion barrels of oil. “By not sanctioning projects today, you’re putting a hole in production in 2017, 2018 and 2019 — potentially a big hole,” David Pursell, managing director of macro research investment bank Tudor, Pickering, Holt & Co.

The cuts, and the resulting loss of future production, will be concentrated in a few key areas. For example, the report estimates Iraq will fail to realize 5 million barrels per day of production. Iraq, like everyone else, is suffering from low oil prices. Meanwhile, the government has higher costs for its military campaign against ISIS militants. That leaves few resources left over to reimburse private oil companies for exploration and development work. So while Iraq has succeeded in increasing output in recent years, drilling is expected to slow down.

https://archive.is/cXTmb

http://oilprice.com/Energy/Crude-Oil/Oil-Bust-Kills-Off-19-Million-Barrels-Per-Day-Of-Future-Oil-Production.html

We no longer have to wait for the collapse of U.S. shale oil production, it already has begun. Unfortunately, this is bad news for the U.S. Government and domestic economy. Falling U.S. oil production will put severe stress on the highly leveraged debt based financial system over the next several years.

According to the U.S. Energy Information Agency (EIA) recent Drilling Productivity Report, shale oil production from the top fields is forecasted to decline 116,000 barrels per day in January 2016. Even though overall U.S. shale oil production is forecasted to be down 12% from its peak in March 2015, one of the largest fields in Texas is down a whopping 30%

The Eagle Ford Shale Oil Field in Texas peaked at 1.7 million barrels per day (mbd) in March 2015 and is forecasted to drop to 1.2 mbd next month (Jan 2016). Again, this is according to the EIA Drilling Productivity Reports which base their figures on estimates. However, even larger declines in some of these fields may be experienced when the real data comes out in the following months.

For the Eagle Ford to be down 30% (500,000+ barrels per day) in less than a year…

THIS IS A BIG DEAL. I have been warning about the coming collapse of U.S. shale oil production for more than a year now. The idea that the United States would become energy independent is now DEAD FOR GOOD.

Total U.S. shale oil production in January 2016, is forecasted to be 4.67 mbd, down from the peak of 5.3 mbd in March 2015. This is a decline of 630,000 barrels per day from the peak.

Here are the individual shale oil field data from peak:

Eagle Ford = -510,000 barrels per day

Bakken = -140,000 barrels per day

Niobrara = -142,000 barrels per day

Permian = +144,000 barrels per day

https://archive.is/wrEBJ

https://srsroccoreport.com/collapse-of-u-s-shale-oil-production-has-begun/

Russia, China, India and other emerging powers are pushing for a multipolar world; meanwhile the United States, a former hegemon, is unable to stop them as it is losing its political power and is “de-facto bankrupt,” William Engdahl, a political observer for New Eastern Outlook, told Radio Sputnik.

Slowly, but surely Russia, China and other emerging economies are beginning to reduce their dependency on the US dollar. Russia plans to trade oil using rubles by undermining the current US oil price monopoly.

This move would be a dramatic blow to the economy of the United States and break the US political hegemony, Engdahl explained.

"The rest of the world is beginning to realize that the United States of America, the hegemon or the sole super power, whatever you want to call it, is de-facto bankrupt," the political expert told Sputnik.

It's not simply about the upcoming de-dollarization of the global oil trade, Engdahl explained, but due to the fact that the US economy has been severely hit on multiple fronts.

With US industries outsourced to other countries, unemployment shooting through the roof and trillions of dollars of debt, the US economy is in a terrible shape, Engdahl said.

https://archive.is/Z0oSN