SAUDIS CRASH OIL TO $70, PRE WAR PRICES HIT - w/ Global Monetary Expert Jeffrey Snider

They are trading their black gold for printed papers from anti-muslim USA. I would have committed suicide than do what the Saudis have been doing for decades.

It's just a long squeeze

Jeff Snider says we are 20+ years into a mysterious "bad cycle" and he says it's "dangerous" to look for a political solution. Same free market BS that got us here in the first place!!

G R E E D - capitalist empire building for the few. They will extract every dime out of you; take your full attention and monetize it via fear and/or vanity, just to live far above the fray.
most of them believe there’s over-population anyway, so they’re probably OK with people getting picked off at the lower ends. Problem is the lower end is about 90% haha!

I completely disagree with the political takes. The overfinancialisation of the western economies, especially in the US, have led to the super-rich becoming super-richer at the expense of the normal workers. The top 10% experienced a re-bound after covid, while the covid itself marked an unfathomable transfer of wealth from the poor to the rich. This process will have to be slowed, if not halted or reversed. Even when just simply looking at US debt and interest payments, there is no way in which the US can pay these debts without taxing literal trillionairs.

As soon as Jeff Syder said, "get back to a growth cycle economy" I'm out. More capitalism is not going to fix anything. Infinite growth on a finite planet is a disaster.... As we can see.

2000 - Dot-Com Bubble
2008 - Subprime Bubble
2020 - Covid
2026 - AI Bubble

Why are oil traders still walking free? Jail them all.

This is the same guy who got gold 100% wrong!

Market manipulation they're all crooks

In other words you don't know. Can I have my 10 minutes back?

I appreciate this genuinely. I think I need some graphs. I still don't get China either.

China and US eating reserves helps a lot

Rising tide lifts all boats. What if most people don't have boats (wealth/property)? We just drown.

Always valued information!

Global monetary expert my ass. This dude said that the USA started this war to cripple China’s energy supply. Now he is saying China is the reason why oil prices did not go up. 🤦‍♂️. Snider is a fast talking dude who reply’s on hi fast talking instead of being right.

Very interesting and insightful.

They better go back to E10.

hold on. whatever happened to 2 more weeks until the US runs out of oil? I have heard for months now, that "even if the strait is open now, the US will run out of oil in July!!", ive literally you people tell me 2 more weeks for a month now, ive heard farms wont be able to grow food.
ok, im genuinely curious. do you people understand these two simple facts?
1. the US PRODUCES oil
2. oil and fertiizer come from more than 1 area of the world and can move througb places that arent the strait of hormuz?
if you thought thought the US was going to run out of oil and we would just idly sit here and starve, ive got a bridge to sell you.
the sky isnt falling, and youre just flabbergasted by this, its pretty funny.
WWHHAATT oil prices f-fell???
yes. thats how open markets work. prices change. the sky isnt falling. the US isnt going to run out of oil. please stop telling everyone some great disaster is slowly approaching us if you dont understand those 2 simple facts

During the Great Recession in 2009 there was demand destruction of 1,4 mb/d. The argument of demand destruction having lost quantity of oil and still loosing is ridiculous

I had to look at the video. Just audio i thought the dad from home alone was now an export expert and economist

So the people who do this everyday with real money are all wrong and these idiots are correct?

Where is the evidence that a rising tide raises all boats? The evidence is that this is nonesense

Well china is doing best compared to the rest of the world

Mmmm....so, the chinese economy is about to collapse??? Where I have heard that before???

The traders are too optimistic because of Trump manipulating the market and believing that Hormuz will be open even if Trump does not hour the MOU. The last sentence is the reason why traders are too optimistic.

How about this possibility, that the economies around the world are in horrible shape and demand for oil is very low
Except here in The states for gas prices could be pure price gouging

شكرًا لك

I had a little bit of trouble following what this guest was saying.

Two things always amaze me:

Capitalist always speak of Socialism/Communism as the only alternative and they do it to make Capitalism look like the only reasonable and practical answer. China has already proven there are 'gray' areas that can work. Capitalism (to me), is all about the individual ("all for me ,baby") whereas socialism addresses the masses

Second thing is taxes and the ridiculous transfer of wealth to the top few people/corporations. If I remember correctly, the US did it's best when the taxes on the rich were much higher. More people moved up into middle class, could survive and thrive e and build wealth on a paycheck.
Then they decided, No!, let the rich get richer by reducing their taxes and keep the wages for the rest stagnant. This transfer went on steroids during COVID. Can you imagine that millionaires and billionaires were created when the world literally shut down?

The allure of Capitalism (without a socialist heart) is that "I did it so can you". The reality is that as I rise I close and lock all doors behind me
Meanwhile, debt increases exponentially and guess who has to pay it off? Certainly not the richest people

In the US, ~$4 a gallon will NOT create demand destruction. It takes $5+ a gallon for that in the US. And the US consumes more oil than just about anywhere else in the world. Not just to drive cars but to run trucks, trains, ships and heavy equipment and machinery.

Starts ranting on socialism and loses all credibility...

❤

What the Chinese got was halt on arms shipments to Taiwan, look at the dates

How can the demand be falling when inventories have been drawn down everywhere? This simply don't add up. I'll be looking at the IEA figures to see the inventories start rising before I believe the demand is evapourating. We are just entering the holliday season in Europe and looking at the traffic everything looks like normal. Maybe a few more EVs, but not so that the petrol demand would be tanking.

DON U TWO GET IT THIS IS ALL ON PURPOSE GOOGLE APOPHIS JAMIE WALDEN ON YOUTUBE 2029!!! PREPARE!!! REPENT ACCEPT CHRIST JESUS!!!!

Consumption has dropped due to self restriction.

Hmmm not sure about this one

It costs them a dollar a barrel to produce before war. Oil is NOT based on "market demand." That's a myth. It's based on how much elites can make off the people and get away with it

Thanks Mario stay on top of this subject

I must say your guest does not explain your question

Yeah, no. I don't see China doing the U$ any favours, especially not after 2008.
However, I can see the Chinese deliberately keeping oil markets steady while they quietly engineer a bigger plan, namely, strangling the existing global financial system.

Even if demand drops off, you still need to restock the oil reserves.

Australia is only a tiny oil player but demand is down huge time
The annual Grey Nomad seasonal treks are so low remote winter towns are empty