I should be more clear. You, along with GS, were touting being a net exporter (never mind that we still are net 7MM BPD importers...). It's all behavioral trading fraud abusing asymmetric leverage, knowledge of positions (especially derivatives) and control of the effective "money" supply... But, fundamentals ALWAYS win in the endgame.
And, as I've said all along, I'm INVESTING in alternative transportation fuels with superior LT unit economics. The price will have fully recovered and while we are building some of our first plants. All this has done is increased the risk / hurdle rate for Shale oil development and increase my LT margins... You don't get competitive strategy at all... ;-)
Sybs, as was the case then, all your statements were full of chyt... You, along with GS, were touting domestic supply driven abundance from fracking. I said then (while WS was in the midst of the pump in order to collect fees on offerings) that the underlying economics didn't work aside from serving as a strategic capacity buffer to keep a ceiling on prices. I've been correct all along in that respect. The move down has been a function of cratering global demand during an EPIC global tightening (global GDP in USD terms has taken one helluva hit during this unprecedented USD squeeze). But, domestic Shale production (about 5MMBPD) will fall off rapidly due to depletion rates than can hit 70% at a well level and almost uniformly exceed 40% absent new completions that will not take place at these prices (because good people will step in to provide Capital for domestic Shale players to ride of the predatory "TBTJ" control fraud operators' attempts to lay claim to real assets with their phantom debt claims upon which they already charged fees).
As I said, the global freefall in oil prices was driven by nearly infinite abuse and excessive financialization. And now producers across the board see it. They will de-financialize and the endgame is mathematically certain... :-)
Not a chance. I'm enjoying each and every day. But, those who fail to do the fundamentally right thing each DVD every day are failing to choose life and will perish... We judge ourselves this time...
GS out with another full throated argument for oil to remain lower for longer... And we know how much GS loves muppets... ;-)
Pretty soon they feel the full weight decades of nearly infinite abuse of control of the effective "money" supply, knowledge of positions and inside knowledge on the state of the "monetary" system and "monetary policy"...
The PRODUCERS of the world are de-financializing each and every day... ;-)
And the gold shorts are going to learn about ST inelasticity and the tipping point of the stock versus flow view of CB balance sheets the hard way...
Thanks. It does... But seriously, be careful. The "TBTJ" control fraud operators exploited ST supply inelasticity and control of effective money supply / currency manipulation to frontrun Fed tightening (USD strengthening has been historically unprecedented). Goal with attacks on EM was to force gold liquidations (as you've suggested) and lay claim to REAL assets using fraudulent phantom debt claims. Gold has increased in virtually every currency YTD. It will shortly do so in USD terms using essentially if not inherently fraudulent "Chosen" financial "assets" as the source of funds. Global financial conditions will ease as de-financialization accelerates and those short REAL and essential commodities (oil and ag) will get crushed.
The endgame really is mathematically certain...
Feel free to use iggy Cash. You and I both know that predatory behavioral trading (HFT/MM option manipulation and quant frontrunning) that powers these scams... It is ultimately the same nearly infinite abuse of control of the effective "money" supply and knowledge of positions that represses gold and fundamentally sound domestic producers (the gutting side of ETF frontrunning)
I'm not interested in supporting "good shorts". I care only about the impact on REAL people in the REAL economy and in helping to ensure a stable transition out of the " TBTJ" phantom debt ponzi control fraud era.
I don't see a justifiable case for being (naked) short most asset classes... People can diversify long positions across asset classes to hedge. Only place it really makes sense is for agricultural commodity futures and even then for a fraction of production. It is excessive financialization that has destroyed investment signal.
I warned last week that naked paper shorts were going to subsidize the transition to a de-financialized world... Those who try to profit from collapse will perish alongside the parasites. Choose wisely.
Deposits will flow to local and regional banks that make money INVESTING in our people and productive capacity rather than stealing from us via predatory behavioral trading control frauds abusing asymmetric leverage and knowledge of positions (not to mention the private seigniorage public inflation that is the logical limit of taxation without representation...).
De-financialize each and every day... It's a no regret decision when gold is free in "Chosen" Protection Racket Consumption Ponzi terms... :-)
The greatest glut in the world is that of the "Chosen's" essentially if not inherently fraudulent accumulated and derived phantom debt claims that are JUNIOR to physical cash, ST UST and gold. Each and every day, those who do the fundamentally right thing, converting the "Chosen" financial assets to REAL wealth (gold) and investment in OUR PEOPLE and OUR NATION'S productive capacity and self sufficiency through a MASSIVE cash, ST UST and gold buffer (50% across the 3 with all excess cash in ST UST rather than "TBTJ" banks) will get stronger while the control fraud operators weaken... The endgame is mathematically certain... ;-)
You are entitled to your POV... The issue isn't dividends. It's long term cash flows based upon the true price discovery that is coming as the world de-financializes... The greatest glut in the world by MANY orders of magnitude is that of essentially if not inherently fraudulent phantom debt claims and accumulated interest in those fraudulent claims...
Cash, you are good people. I hope and pray you find it in yourself to see through the painted tape. You well understand the behavioral trading abuses that have taken place of late, but I am concerned you too have fallen prey to recency bias. The unwind of the "TBTJ" phantom debt ponzi control fraud will be much larger than anyone is currently discussing...
Index stuffing (UpperDeck)/fails this quarter, but index gutting (LowerDeck) fails first... Starting with gold and domestically concentrated producers like INTC, DD and MMM...
Bump. Peak desperation is everywhere... GS and Citi saying to fade the rally that has taken oil to a level WELL BELOW its MT replacement cost. Non-stop propaganda on CNBC (trotting out a couple of future WS kids to show the youth's CONfidence in the market...).
Use "Chosen" financial "assets" as a virtually unlimited source of funds to acquire REAL wealth (gold) and invest in OUR PEOPLE and OUR NATION'S productive capacity and self sufficiency, always WITHOUT LEVERAGE AND through a MASSIVE cash, ST UST and gold (inexpensive real options without expiration without artificially high IV premium SENIOR to their phantom debt claims) buffer. The endgame is mathematically certain... :-)
Except that the author misses the most obvious and the correct conclusion... It's time to de-financialize... Use those overvalued financial assets to acquire REAL wealth (gold) each and every day, $ for $, WITHOUT LEVERAGE AND WITHOUT LIMIT. And invest in domestic producers, who have weathered decades of currency manipulation... When we transition from the strong USD to the next phase of de-financialization, those who've invested in our domestic productive capacity will thrive... :-)
What is NFLX cumulative cash from operations and investing since Jan 1 2012? What has been its growth in off balance sheet liabilities in that period? ;-)