Cheap oil kills banks? I can only hope!

Discussion in 'Financial Cents' started by Legion489, Jan 18, 2016.

  1. Legion489

    Legion489 Rev. 2:19 Banned

    Latest From GS Early
    How oil could kill the banks »
    Energy prices continue to wallow near decade lows with no real visibility on when that might change. And while that's good for consumers and businesses that rely on cheap fuel, it also tells a story about a weak global economy that doesn't seem to be getting any stronger. More »

    pearlselby likes this.
  2. gundog10

    gundog10 Monkey++

    Well, I can only hope we have enough paper left to bail them out again, NOT. The strong and well managed will survive and the others should be given a quick death. How many home owners were sucked into variable interest mortgages by the banks prior to 2007 and were refused refinancing when their house value crashed. But who am I kidding, our commander and thief has never shown any sense of fiscal responsibility or are we really in much better shape as a nation since he took office and I just missed it!
    Mindgrinder and Tully Mars like this.
  3. DKR

    DKR Raconteur of the first stripe

    It may not be killing banks - but low oil prices is beating the living daylights out of Alaska.

    If you were even thinking of coming up here - DON'T. The spend it like water libs in State and local gov't just re-discovered taxes...
  4. stg58

    stg58 Monkey+++ Founding Member

    Cheap oil will kill the Bakken until it goes to about $40 a barrel again if it does. OPEC mainly Iran will flood the world with cheap higher quality crude making the current outstanding Bakken oil loans junk combined with the crashing chinese markets it could be bad.


    Plus it will hit Canada..
    Producers outside the U.S. are also feeling pain. The price for Canadian bitumen -- the thick, sticky substance at the center of the heated debate over TransCanada Corp.’s Keystone XL pipeline -- fell to $8.35 last week, down from as much as $80 less than two years ago.

    The North Dakota Crude Oil That's Worth Almost Nothing

    Oil is so plentiful and cheap in the U.S. that at least one buyer says it would pay almost nothing to take a certain type of low-quality crude.

    Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said it offered to pay $1.50 a barrel Friday for North Dakota Sour, a high-sulfur grade of crude, according to a corrected list of prices posted on its website Monday. It had previously posted a price of -$0.50. The crude is down from $13.50 a barrel a year ago and $47.60 in January 2014.
    Tully Mars, Motomom34 and Brokor like this.
  5. Dunerunner

    Dunerunner Brewery Monkey Moderator

    That is what OPEC wants to do...Kill the U.S. Oil businesses. No exploration, No production, equals No competition.

    Personally, I suspect that if the banks go under the government will step in and take over the countries monetary system. That would be a refreshing change... :whistle: They manage everything so well... :rolleyes:
    Tully Mars and stg58 like this.
  6. stg58

    stg58 Monkey+++ Founding Member

    Yes and how ready are the average Americans r for an upheaval worse than the last dive.
    Tully Mars and Dunerunner like this.
  7. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    You have it all backwards.
    The banks OWN every nation using its currency already (yes, ours, too).
    The banks cannot truly go under -they create recessions and depressions and rig the market to bankrupt nations. They will be the ONLY ones who profit from the crude oil manipulation. This isn't being done on accident or as a circumstance of magical economic wizardry. Entire monetary systems can collapse, and as history has proven, the same private interests will slap a new label on their pyramid scheme and start up all over again. NO society is going to dare start printing their own debt-free currency without facing the consequences. The IMF is an agency of the U.N., and the global stage has been set. Governments are really corporations, and those who have held high positions in banking are often at the top. That's reality.
  8. Kingfish

    Kingfish Self Reliant

    Broker, why cant we just kill them all ?
    Tully Mars likes this.
  9. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Because ideas are bulletproof. ;)
  10. Mindgrinder

    Mindgrinder Karma Pirate Ninja|RIP 12-25-2017

    Brokor and Tully Mars like this.
  11. chimo

    chimo the few, the proud, the jarhead monkey crowd

    It would be environmentally insensitive of us to just leave the bodies lie (though the case can be made that the coyotes gotta eat too) we gotta find a place to bury em first. How bout your got more land than I do. Need fertilizer?
    Cruisin Sloth likes this.
  12. Tully Mars

    Tully Mars Metal weldin' monkey

    gundog10 and Mindgrinder like this.
  13. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    --------------------- THIS COMMENT HAS BEEN REDACTED FOR SECURITY PURPOSES ------------------------

    ------------------------------------ SO HAS THIS ONE ----------------------------------------

    and that's all I have to say on this plan.
    Legion489, oldawg, Motomom34 and 2 others like this.
  14. Kingfish

    Kingfish Self Reliant

    Ideas are bullet proof. Well in New Zealand they tossed A bunch of them in the klink. Maybe we should do that? And then lose the keys. Board up the windows and set the place on fire.
    Light in the Dark likes this.
  15. chimo

    chimo the few, the proud, the jarhead monkey crowd

  16. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    The klink is owned by the bankers. As are judges, federal "police", state "police" and every "government" employee. The prisons make money from you being a debt-slave, they won't make a profit jailing their masters. Game, set, match.

    New Zealand GDP is hilarious, in case you are wondering why.
  17. Kingfish

    Kingfish Self Reliant

    Broker, you know too much
  18. Legion489

    Legion489 Rev. 2:19 Banned

    I'm sure the holes the BLM dug for Bundy's prize cattle that they ran to death in the desert could be opened up and a few more cattle (or sheeple) could be tossed in.
  19. Legion489

    Legion489 Rev. 2:19 Banned

    Well cheap oil might kill banks, but the oil companies don't seem to be getting hurt:

    Shell shares rise as profits fall
    Royal Dutch Shell shares rise 4% as it confirms it will cut 10,000 jobs amid its steepest fall in annual profits for 13 years.
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