Checking back on Pepe’s oil price predictions as of July 2016


I am preloading this post so that it will pop up on the 6th, at which time I plan to be away from the Internet, dealing with technical difficulties. You can post comments, but they won’t show up until I get back.

rare_Pepe_Escobar

Several months ago, Pepe Escobar wrote:

Selected Persian Gulf traders, and that includes Westerners working in the Gulf confirm that Saudi Arabia is unloading at least $1 trillion in securities and crashing global markets


Surging demand and falling production will reverse the oil crash by July. Moreover, China’s oil imports recently surged 9.3% at 7.85 million barrels a day, discrediting the hegemonic narrative of a collapse of China’s economy – or of China being responsible for the current market blues.

Read more: http://sputniknews.com/columnists/20160121/1033486596/secret-behind-next-global-crash.html

A reverse of the oil crash by July 2016 is an important prediction. Let me make a note to check it out in six months.

What seems more like a “moderation and less like a “reverse” is the prediction that oil will go back up to $40 per barrel, here:

http://www.energyintel.com/pages/worldopinionarticle.aspx?DocId=911978


Comment:

July isn’t over yet, but oil is just at a mere $50. I had been hoping for something considerably more dramatic as a “reverse of the oil crash.”


Saudi Arabia has also been moving money around, as reported here:

http://www.bloomberg.com/news/articles/2015-09-28/saudi-arabia-has-withdrawn-billions-from-markets-estimates-show

But moving money around is not strong evidence for Saudi peril.

The Eurozone might rip itself apart this year:

Albert Edwards, a strategist at Société Générale bank, has warned of an impending global financial crisis similar to the one that occurred in 2008-09. This time, he said, it could lead to the collapse of the eurozone.

http://www.ibtimes.co.uk/societe-generale-seconds-rbs-doomsday-prophecy-predicts-collapse-eurozone-1537621


Comment: The EU is still in one piece, but the Brexit vote got some EUrocrats very spooked.


Instability in Europe might strengthen anti-AngloZionist forces – and Saudi Arabia is a pillar of AngloZionism.

Paul Craig Roberts has written that the West – i.e. the AngloZionist West – is looting itself.

The West Is Reduced To Looting Itself — Paul Craig Roberts

And he is being noticed by readers from far and wide:

An Appreciation of the Website from Germany

If oil pulls itself back above $40, then Russia will be stronger. That would tend to prevent Saudi Arabia from doing whatever it might please.

At the moment, there seems to be little evidence. I guess we had better check back on 1st July, or even on 31st July.

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