Saudi Arabia/Iran Battles Rise, Bitcoins Collapse, Meanwhile Markets Roil In China

 

U.S. in a Bind as Saudi Actions Test a Durable Alliance the New York Times reports.  Saudi Arabia is a despotic totalitarian monarchy which forces both men and women to wear these ‘uniforms’ that are very debasing and makes them all anonymous figures in a mob.  Worse than North Korea!  Women in North Korea can walk in the open showing their faces!

 

The execution of a top Shi’ite religious leader by the Sunni Saudi royals started this latest row between Iran and Saudi Arabia.  The Saudis have very aggressively pushed their noxious totalitarian religious regime across the planet and plan to do it in Europe and North America eventually, too.  Why the US doesn’t condemn this and resist this is easy to understand: cheap oil.

The world price of oil has dropped drastically thanks to the Saudis and this hurts Russia which is why the US is pushing for this but the price in Saudi Arabia is very high: the cuts in social services are now causing unrest which is leading to mass murderous public executions there.

 

The Shi’ite uprising starting in Yemen which the Saudis are suppressing in a most bloody way is part of this tension that is rising rapidly.  Since the EU has fallen into a recession thanks to the terror attacks and other actions especially the million man invasion from Muslim countries, we are now going to have a recession here in the US, too, the stock market crashed yesterday right after the Xmas/New Year party.

 

Meanwhile, in occupied Europe, German women report string of sexual assaults by ‘Arab and North African men’ – Telegraph reports but NOT the New York Times.  I used to live in Germany in 1968.  I grew up on a ranch taming horses and shooting vermin and hauling tourists out of rivers, etc.  Whenever I went to a train station, Muslim males hanging out there would assault me if I was alone and I would amuse myself by tossing them around, mostly down staircases.

 

But none were in huge mobs.  That requires a gun to control.

 

The debate about immigration is roiling EU and North America and is a huge election issue with the new immigrants being courted by ‘liberals’.  Immigrants to make up HALF of London population in 15 years | UK Daily Express reports.  Uniformly, Muslim governments forbid birth controls of any sort as well as few to no civil rights for women.

 

All our long battles for equality are on the line here.  It is literally a life and death issue for women. There are several Middle Eastern religions that deny women basic civil rights.  The Christian sects, for example, have been finally defeated only for us to see this erode thanks to immigrants who are very anti-women’s rights.

 

We had a warm fall which meant global warmists went mad with fury but now all is well, it is below zero here on my mountain today.  Happy, guys?  Why rising temperatures in Greenland is worrying news for scientists — and the world meanwhile in reality land:  ‘We would have been frozen’: People of frigid Ukrainian town thank Russia for gas supply.  Al Nino years means mainly yo-yo weather as the jet stream is more active up and down.

 

Amusingly, from Bloomberg News: El Nino’s Peak Has Weather Forecaster Warning of La Nina because this el Nino is not getting stronger and stronger, it has been weakening for the last two weeks and is heading towards an early, not late, decay and termination.

 

As China’s Terrible Start to 2016 Has Beijing Fighting Market Fires thanks to a classic boom/bust cycle, China Said to Intervene in Stocks After $590 Billion Selloff as people panic.  The market ups and downs are normal.  Every cycle has everyone wishing the upswing will be forever and as per usual, it isn’t.

 

Predicting when an upswing will end is an art.  Usually, it ends right after everyone joins the market thinking it will rise forever.  The classic storyline on Wall Street back when my father-in-law was working down there is, ‘When the shoeshine boy gives you stock tips, the market is about to crash’.  He told me that joke way back in 1969.

 

Funny as hell news:  The Final Days of the Bitcoin Foundation? – Bloomberg Business

 

Bruce Fenton, executive director at the Bitcoin Foundation, opened its Dec. 15 board meeting with a sense of urgency: “We need additional funds if we wish to retain employees.” The numbers didn’t look good. In two years, the foundation had seen at least $7 million evaporate. As of Nov. 30, its total assets stood at $12,553.06.

 
To sustain the Bitcoin Foundation’s operations, which have included lobbying, putting on conferences, and providing technical support for the digital currency, Fenton urged the group to find ways to raise money quickly. They considered cold-calling ex-members, and Fenton said he’s working on marketing materials for prospective donors to explain the organization’s purpose. “There is no material saying what the foundation does,” he said.

 

A classic scam/bubble toy.  It shot up in value as players in the game used this toy to facilitate various criminal activities or due to ideology thinking making up money not backed by government guns will work, and now it is collapsing as expected.  A great deal to do this this is government guns, of course, shutting down illegal operations of various sorts and sending bitcoin operators to prison.

 

Money is always backed by muscle!  This goes under ‘duh’ and it loses value when the ‘muscle’ weakens or gets sly and tries to multiply the money illicitly (printing it, for example).  Some people made money trading bit coins but this was a doomed operation due to historical forces at work that are unstoppable and easily foreseen.

 


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39 Comments

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39 responses to “Saudi Arabia/Iran Battles Rise, Bitcoins Collapse, Meanwhile Markets Roil In China

  1. Rob

    Another example of the hypocrisy on climate change, Leanardo DeCaprio rents this 6 story, 450 foot yacht over Christmas.

    http://www.dailymail.co.uk/tvshowbiz/article-3379834/Tobey-Maguire-joins-pal-Leonardo-DiCaprio-aboard-luxury-yacht-St-Barths.html

    He can afford it because his movie Revenant is doing well. In it he is roughing it in animal fur, unlike his bikini clad gals.

    http://www.dailymail.co.uk/tvshowbiz/article-2894931/Leonardo-DiCaprio-offers-hand-lead-bevy-bikini-clad-beauties-aboard-boat-enjoys-St-Barts-holiday.html

    After all, it is not about individuals, just industries.😉
    http://www.theguardian.com/environment/video/2014/sep/23/leonardo-dicaprio-un-climate-change-summit-speech-video

  2. CK

    Saudi Arabia is in a bind. It cannot raise oil prices, not with Iranian oil coming back into the market; and American shale oil profitable at $45/barrel and decreasing. The Saud family forced the price of oil down to harm the competition from the American shale fields in N. Dak. and Texas. The oil is still there and the cost to bring it back to market puts a cap on now much the Saudi’s can raise the p/b. The new ruler and his son are starting to appear to be not the sharpest forks in the Saud family drawers. Also the USA is exporting oil for the first time since the early 70’s; not good news for OPEC.

  3. Lou

    Bit coin and the BC foundation are 2 different things, yes? I think BC is doomed because it is a threat to the Fed [Bankers].

  4. Lou

    If OIL price has dropped 40%, why are grocery bills not dropping?

  5. Sunger

    US shale oil is NOT profitable at $45/bbl. Maybe for a few wells in the “sweet spots” in the Bakken etc. But not for the whole field or the whole industry.

    The breakeven point for shale oil is a minimum of $85/bbl and really closer to $120/bbl. And going up as we go forward.

    In ND the rig count has dropped from 171 to 58 in the last 12 months.

    The shale oil revolution is a scam that depended on sub-prime finance just like the housing subprime of 2007.

    Art Berman is one of the top senior oil men who understand all this. He says

    “Shale is not a revolution–it’s a retirement party. Shale plays were not some great new idea. They became important only as more attractive plays were exhausted.””

  6. Jim R

    Depends on your definition of “collapse”. You mean that little decline from $450 to $417? BTC has always been more volatile than silver. I think last time Elaine announced a collapse, it was in the 200s somewhere.

    Not that the bankers don’t hate it, they just haven’t figured out how to get rid of it yet. I think they probably will, eventually. Maybe by means of an ETF or some such thing.

    But there is obviously no currency peg or other tie between the $ and BTC.

  7. Looks Saudi Arabia will do something stupid, like say… invade south Iraq.

  8. Petruchio

    It has always struck me as strange when the topic of those head chopping, Shia hatin’ Saudis comes up. 15 of the 19 9 11 attackers are Saudis. No comments let alone criticism of the Saudis because of this. Saudi brutality against women. No criticism. No discussion. Where is the Political Correctness crowd on this? The Saudis are a big, fat, juicy target yet no commentary, no negative publicity for the sleazy Saudi royals. Where ARE the Political Correctness crowd? Well, they are up in arms over the sexist, elitist practice of men–even in this year of 2016–are STILL opening doors for women!! THIS type of behavior is grist for the “PC” crowd–especially if the perpetrator is a white male, then it is OK to let ‘er rip.

  9. Sunger

    Yes we do have a “politically correct” crowd- mostly liberal leaning.

    However, we have some nasty conservative groups like-

    The “I’m morally superior to you because I go to church” crowd.

    The “I hate the guvamint and we must abolish it” crowd. They are identical with the “I expect the federal government to make me whole from any business or personal disaster” crowd.

    And the “US Constitution must defer to god’s law” crowd.

    And lots lots more from the right side.

  10. Sunger

    And of course, the “I don’t read books. I just listen to Fox News” crowd.

  11. Lou

    Jim R, as you have noted, EMS is very stubborn in changing opinions. She is opinionated and this is HER space.
    She has hated bitcoin [bit con?] for a loooooooong time.
    Thats her right. BC was 1000_ for awhile, yes? Need I note, ‘tulips’..huh?

  12. Lou

    DeCaprio is a useful idiot.

  13. Christian W

    OT:

    North Korea claims to have donated a H-bomb. 5.1 Richter earth quake registered from what is supposed to have been a puny 6 kiloton Hydrogen bomb explosion.

  14. Jim R

    Lou, BTC reached a little over $1200 at its peak. Like I said, it’s more volatile than silver, which has also bounced around quite a bit in the last few years. I just like to point out, every time EMS says it ‘collapsed’ that it has not, as yet. I have never asserted that it is anything but a temporary phenomenon. As is the $.

    And, CW, yup, NorKo’s bomb test was an embarrassing dud.

  15. Jim R

    About the meaning of currency — when you examine any currency closely enough, it’s like the structure of the atom. It’s made of empty space. There isn’t any ‘there’ there.

    In general terms, when a country issues a currency, the strength of the currency is connected to the strength of the country. Or the entity — in the case of the Euro, it’s a consortium of countries. You have the police and military going around, defending the currencies in which they are paid. Now that multinational corporations have so much power, they could begin to issue their own currencies as well…

    In the case of BTC, its strength is based on the power of Internet protocols. And with all of global civilization now dependent on the Internet, that is a power to reckon with.

    But, and this is a big geopolitical BUT, we are in the early stages of a civilizational collapse. It will inevitably swallow up currencies as it proceeds. The Euro is on shifting ground even now. And this collapse will probably tear up the Internet at some point, rendering BTC meaningless.

    Among the things that retain value as currency are coins and cash, until they wear out. When Rome collapsed, the Denarius continued to be used across Europe and the Mediterranean for centuries.

  16. Melponeme_k

    Fully, functioning adults run away from Cuba in order to illegally enter the United States but somehow it is all the fault of the US when Nicaragua closes its borders. Too bad our borders aren’t closed.

    http://www.dailymail.co.uk/news/article-3384207/New-Cuban-refugee-crisis-thousands-flee-Castro-regime-hope-getting-stranded-Central-America-penniless-blocked-getting-Mexican-land-border.html#comments

  17. Petruchio

    “Women in North Korea can walk in the open…” As Christian W mentions in #13 North Korea has apparently detonated a H-bomb and also seems to have the missile technology to deliver this H-bomb from a great distance. The news this (early) morning featured comments from people (didn’t get their names, but assume they are State Dept or Pentagon spokespersons) who were assuming that the US government MUST ‘do something’ about this latest development in South Korea. Bears watching, I think.

  18. Petruchio

    “Whenever I went to a train station, Muslim males hanging out there would assault me if I was alone…” This points out the #1 thing to remember about this immigration ‘assault’. When these immigrants first get here, they are almost invariably polite and wish to remain out of sight–UNTIL they acquire enough numbers to be a force. Then their true colors will come out. Notice how most of them do not even make an attempt to assimilate into the US culture/customs? They don’t EVER plan to assimilate; they will demand WE become like THEM as soon as they get big enough. They’ll be polite as can be until that time, though.

  19. Sunger

    You didn’t notice that these people who are desperately hitting the road were mostly parents w kids?

    By the way, the reason these folks are so desperate is because they are result of 25 years of western military operations in the ME.

    The west had this idea that if we bombed the ME into the stone age- well we wouldn’t have to deal with that mess any more. Well, guess what! The bombed out folks are not going back to the stone age. They are coming to your neighborhood to seek permanent accomodation!

  20. Sunger

    This is a REALLY STUPID way to make a case ie

    Al Gore speaks out about climate change

    Al Gore is fat and can be a hypocrite at times

    So……………

    Climate change is false because Al Gore believes in it.

  21. vengeur

    Al who? OHHHH. Al GORE. I like Al Gore because he makes even the dumbest republican politician look SMART. Even Bush Jr. LOL

  22. vengeur

    And kidding aside, Al Gore is a decent person, not like Her Royal Smugness Hillary and her rapist husband.

  23. mark

    Hi Elaine, bitcoin user here- if you place your bitcoin public address here I will gladly donate some bitcoin because I enjoy reading your blog. You do not need permission to transact and exchange value with people when using bitcoin and this is actually considered a benefit, not a detriment. It’s borderless and apolitical, it can’t be shut down nor manipulated. Transactions only cost pennies, not 3% (credit), and it is deflationary. If you read about the technology (cryptocurrency & blockchain) and how it actually works you may appreciate how innovative the technology is. It follows a strict algorithm and it is programmed to be deflationary, not inflationary. What is the Bitcoin Foundation?🙂

  24. Petruchio

    @#19Sunger: most of the immigration wave are composed of MALES in the age group of 18-35. About military service age as it were.

  25. Sunger

    Could this have been a planned operation of ISIS?

    The Cologne attack seems to have been an orchestrated cultural attack to destabilize Germany. This will set off the German brownshirt groups like nothing else could ever do.

  26. Sunger

    vengeur said- “I like Al Gore because he makes even the dumbest republican politician look SMART.”

    Oh yeah? How about these Republicans?

    How David Vitter R from La. He’s the Republican senator who had the longstanding date with a dominatrix who put him in diapers.

    How about Dennis Hastert Republican. Once speaker of the house. He’s the one who was screwing the 15yo male soccer player while Hastert was the coach.

    How about Larry Craig R Wa? He’s the one who was giving blowjobs in the toilet stall in the Minneapolis airport.

    Need any more?

  27. Sunger

    And you know what?

    All of the above Republican offenders are big time praying Jesus believers and church-attenders.

  28. vengeur

    Sunger, LOL. You are talking republican gay perverts. Thank you for putting them on the same level as rapist Bill Clinton , which is exactly fitting! Thank You!!!

  29. vengeur

    Bill Cosby and Bill Clinton should do the talk show circuit together. Two old lech creeps. Elaine would have kicked BOTH their asses. LOL

  30. Ken

    Petruchio @ #18 briefly touches upon an interesting observation. Lately I have been doing a lot of reading and thinking about Islam and looking into the fundamental tenets of the religion. I have had to conclude that it is both a fascinating and disturbing religion.

    Building on Petruchio’s comment, there is not a single Muslim dominated country in the world where women and non-Muslims enjoy equal rights. Some of the semi-secular ones under attack (such as Syria) may come close, but even in those countries women are not equal in the Western sense. But it is possible this may be a hold over from the past, and hence may not truly reflect on the religion.

    The real test of the religion is to look to countries which were/are not Muslim dominated in the distant past BUT have recently become Muslim dominated. Indonesia comes to mind, but there may be others. Same thing on a smaller scale for local communities in Europe.

    How do the Muslims behave once they become the majority, after initially being a minority? Unfortunately, the answer to this question is not encouraging. Non-Muslims in Indonesia have to flee from their villages or regions once the areas become Muslim dominated. Same in European cities where Muslim dominated areas are shunned and even treated as “no go” areas by the police.

    On a smaller scale, the same thing occurred in Cologne, Germany. Once the mob became predominately Muslim the gloves were off and bad behavior ensued. This does not bode well for future integration of the Muslims into western society.

    On the subject of non-integration, as a future topic for discussion I would like to see some comments about the fact that Islam is not like other religions. It was designed from the start to be an entire, self-contained set of rules for governing and running earthly society. Western religions co-exist with secular governments. Islam demands that all other governments be disbanded and the only government is to be Islam. Frankly, this seems inherently inconsistent with Western culture and society. Perhaps a topic for future discussion?

  31. vengeur

    Elaine PLEASE give your take on the Cologne Hauptbahnhof migrant-mob on women rape-abuse fiasco. Reading the comments section of articles in German papers like Die Welt, I think the dam has finally broken and the german people had finally had enough.

  32. Christian W

    @30 Ken

  33. Sunger

    How about the Christian religion?

    It’s the most bloodthirsty of any religion and has supported a thousand years of empire, conquest, and rapine.

  34. Sunger

    Vengeur said “Sunger, LOL. You are talking republican gay perverts”.

    Here’s a few more. Not ALL Republicans are sex criminals of course. Republicans commit crimes in all kinds of ways.

    Here’s a few more-

    *Rick Renzi- R Ariz was convicted of 17 counts of wire fraud,, conspiracy, extortion, racketeering, money laundering 2013

    *Republican County Constable Larry Dale Floyd was arrested on suspicion of soliciting sex with an 8-year old girl. Floyd has repeatedly won elections for Denton County, Texas, constable.

    *Marco Rubio- A review of records dating back to 1997 shows that the couple had a combined 17 reckless driving citations: Mr. Rubio with four and his wife with 13. On four separate occasions they agreed to attend remedial driving school after a violation.

    *Ninety percent of the corporations that were criminally convicted between 1989 and 2000 donated overwhelmingly to the Republican Party in 2012.

    *Arch Moore Jr., Republican of West Virginia.
    Charges against Moore stemmed from a nearly $600,000 payment he extorted from a coal operator in return for a refund of millions from the state’s black lung fund for miners. He was also charged with filing false tax returns, and in connection with a vote-buying scheme. Moore received a prison sentence of just under six years and a $170,000 fine.

    Lots and lots and lots more where these came from.

    The Party of God, my ass.

  35. Lou

    Elaine has written about Bilderberger publication, ‘The Economist’, and the ominous cover w Merkel and Bill Clinton at the fore.

    re, Sunger
    Could this have been a planned operation of ISIS? [could???–check the magazine cover]

    The Cologne attack seems to have been an orchestrated cultural attack to destabilize Germany. This will set off the German brownshirt groups like nothing else could ever do.

  36. Lou

    ‘Sunger: most of the immigration wave are composed of MALES in the age group of 18-35. About military service age as it were.’

    Well fed, organized?, healthy, FAKE refugees. with cell phones and their hands stretched out for ‘free bees.’

  37. lotus-eater

    @ Lou asking “If OIL price has dropped 40%, why are grocery bills not dropping?”

    Dropping oil prices cause transportation fees to collapse. The result is that small to medium freights are now financially non-viable. Only large and huge cargo ships can now still give a profit margin, due to economics of scale. So in this crazy global “free trade” game, when it was once better-off to import oranges from China or Argentina to California, or olives from Morocco to Italy, France and Spain, rather than growing them locally, profit margins drop, but the trade cartels, including tbtf commodity manipulating banks, are still in place and still control the game. Add deflation all around the western world to the mix (i.e. a decline in the money circulation, NOT necessarily followed by consumer price drops – which is a byproduct) – and voila! Food prices not only don’t benefit from cheap oil, but will rather rise soon, making things much worse for everyone.

  38. emsnews

    Free trade was set up to destroy sovereignty via economic pressure. My little village COLLAPSED after it passed. ALL of the farms died!!!! The value of my own stock animals fell through the floor, falling over 75% in value!!!!

    It destroyed nearly everything, our biggest employer, Seagrotte Flowers, a major flower growing operation, moved to Mexico and a huge number of our villagers lost their jobs, their homes and had to flee to search for work in the big cities.

    A disaster all around.

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