Hey Gabe,
Thanks - Nice article. I thought the interview with the former CEO of BP was
excellent.
I am expecting mass extinction in oil drilling and mining companies - something
similar to what we witnessed in the banking sector in the US back in 2008/2009
and Americans paid for it dearly.
The current disaster unfolding in oil and commodities cannot bode well for
countries whose economies and currencies rely on oil, mining and gold.
Expect: CAD to fall to 1.60 or more against the USD.
AUD to fall to 2.00 or more against the USD.
Price of oil to fall below $26 - if OPEC continues their current
path to push American drillers out of business.
I have rarely been wrong on my past calls.
If folks could Google for the below keywords, they'll find:
"jim fernandes oil $35 goanet" - This happened barely a month after I made the
call in 2008
"jim fernandes Canadian Dollar and the Australian Dollar goanet" - Talks about
commodity based currencies to get a beating a couple of years ago.
"jim fernandes gold hits $1200 in the next two years goanet" - Talks about why
purchasing gold is a terrible idea - way back in 2013 or earlier.
"jim fernandes Tesla goanet" - Talks about Tesla way before folks began to
value its stock at $100+ per share.
Finally, if there are any GoaNetters out there who still think the US is on the
decline - think again. The USD will remain the king for a foreseeable future
(or as long as the Republicans don't screw it up :) ). When oil shot up to
$150/barrel, Americans got down to doing serious work and invented something
called "Fracking" that went on to kick the butt of OPEC and other oil producers
such as Russia.
While this oil game is still being played out, many American frackers will not
make it. But the ones that do survive will ensure oil never gets to $100/barrel
ever again on inflation adjusted basis.
There's a lot of money to be made in this rout ... just keep some cash (USD's)
on the sidelines to swoop in when you smell blood. Also, if you are living on
fixed income, stay away from high yielding junk bonds .... you could lose
serious money as the US Federal Reserve is about to lift interest rates.
Other related news items:
1. Anglo American to cut 63% of their work force -
http://www.nytimes.com/2015/12/09/business/anglo-american-to-cut-85000-jobs-amid-commodity-slump.html?_r=0
2. Kinder Morgan to cut dividend by 75% -
http://www.reuters.com/article/kindermorgan-dividend-dividends-idUSL1N13X2JN20151208#CwXTieIykdUqxa9O.97
Jim Fernandes
Colva / New York.
On Tue, 8 Dec 2015 09:42:42 +0000, Gabe Menezes <gabe.mene...@gmail.com> wrote:
> ...get your money out ASAP, you might get caught out with a devaluation!
>
> http://www.bloomberg.com/news/articles/2015-12-08/when-abu-dhabi-resembles-frontier-market-you-know-oil-is-hurting
> --
> DEV BOREM KORUM
>
> Gabe Menezes.
