Market Mayhem as Oil Drops 30%, Stock Go Limit Down and Treasury Yields Sink Further.
Today I cover the unprecedented action in the overnight markets and how crude oil dropped the most since the first Gulf War. It appears that OPEC's existence is in questions as the Saudis have decided to go all out and increase oil production.
As if the drop in oil prices was not enough we have seen the index futures go limit down or down 5% overnight as the Dow futures dropped as much as 1500 points. We have also seen the 10-year Treasury yield plummet down to 0.318%.
It looks like the bursting of the Everything Bubble is finally at hand and, in my opinion, the Central Bankers' interventions will be proven to be futile as time goes by.
China Delivers Knockout Blow to Petrodollar. Part 1:
China Delivers Knockout Blow to Petrodollar. Part 2:
China Delivers Knockout Blow to Petrodollar. Part 3:
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yep it seems the world is going bottom up
Thanks again, Maneco64. Yes, is this the out-of-control moment? Pensions dependent on the Stock Market. Oil down. Anxiety high. With the Gold to Silver Ratio at 98:1, I'll be at the Local Coin Shop, shopping for Silver.