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This compilation of financial insights includes videos from Tech Revolution, SD Bullion, and Liberty and Finance.
Tech Revolution shares news of a massive new oil field changing the game in the oil industry and Russia and Saudi’s new mega railway. SD Bullion reports on Idris Elba’s gold documentary being a sham. Francis Hunt joins Liberty and Finance to discuss the solution to a reset.
Tech Revolution
Sep 8, 2023 and Sep 9, 2023
A southern African nation is making headlines with some jaw-dropping offshore oil and gas discoveries. And guess what? It’s not just a drop in the bucket. We’re talking about potentially billions of barrels, according to experts.
You see, powerhouse companies TotalEnergies and Shell have been busy uncovering these treasure troves, and the buzz is all about commercial quantities. Now, while they haven’t spilled all the beans on the exact amounts, whispers in the wind say that Total’s discovery could be more than a whopping one billion barrels of oil equivalent.
So, are we looking at a future oil powerhouse in the making? Could Namibia soon join the ranks of oil-producing giants? And with the clock ticking, it seems we might witness their first crude production.
The Minister of Mines and Energy spilled the beans, and TotalEnergies and Shell have hit the jackpot with their offshore oil and gas discoveries. And when we say “jackpot,” we’re talking potentially billions of barrels of black gold.
Earlier this year, both these giants announced some major finds off the coast of Namibia. Now, they’re putting their Sherlock Holmes hats on and doing some in-depth assessments.
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While they haven’t exactly spilled the beans on the exact quantities they found, a little birdie told Reuters that Total’s discovery might just be over a billion barrels of oil equivalent.
The resonance of Africa’s oil discovery reaches far beyond its borders, echoing in the voices of experts, analysts, and advocates worldwide.
An esteemed expert underscores that while the discovery offers substantial economic promise, responsible management is the linchpin to ensure enduring benefits. An astute analyst notes that the ripples of this revelation extend to global energy markets, bearing implications for oil prices and trade dynamics that are being closely monitored.
Environmental advocates chime in with a clarion call, reminding us of the vital need for ecological stewardship. Amidst the excitement, sustainable practices in resource extraction stand as a paramount commitment.
Industry leaders, too, emphasize the importance of balancing economic growth with diversified industries to mitigate potential risks while capitalizing on opportunities.
Government officials emphasize the significance of this discovery in propelling the nation onto the international stage, underscoring their dedication to fostering balanced regional relations in the wake of newfound prominence.
And amidst the link between energy and the environment, climate advocates provide a sobering perspective, highlighting the intersection where the aspiration for clean energy meets the responsible management of newfound resources.
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Well, if these discoveries are as big as they seem, Namibia could be joining the oil-producing party along the African Atlantic coast. Imagine that, from sunny beaches to barrels of oil.
According to Namibia’s Mines and Energy Minister, Tom Alweendo, these companies are playing it safe. They’re doing their homework to make sure everything’s shipshape before diving into production.
Tom spilled the beans on the sideline of an oil conference in Senegal, saying that they’re eyeing those billions of barrels, but they want all their ducks in a row before they start producing.
And get this, the drilling dance isn’t stopping at one or two wells. These companies are going for a hat trick with their second and third wells. By the end of the year, they’ll have all the juicy numbers and estimates ready to rock and roll.
And it didn’t stop there. Experts said both Total Energies and Shell are revved up to start production within four years. And this isn’t a deadline that someone else set, it’s their game plan. Talk about enthusiasm.
But that’s not all on Namibia’s plate. The country’s got some big dreams of its own. They’re looking for private investors to pump around $2.1 billion into port infrastructure expansion. Why? Well, the significant oil discoveries have ignited some serious ambitions.
The expansion plan involves sprucing up the ports in Walvis Bay and Luderitz. There’s talk of new berths, quay walls, and all that jazz to support drilling services.
The big boss at Namibian Ports Authority, Andrew Kanime, even spilled the beans in an interview, saying that they are aiming to kick things off by the last quarter of next year and wrap it up within three years tops.
As the world’s energy demands continue to evolve, so do the strategies of major players seeking to secure their positions on the global stage. The alliance between Russia and Saudi Arabia, two of the most influential energy powerhouses, has just taken a captivating twist.
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In a momentous revelation, Russia and Saudi Arabia have joined forces to unveil a railway project that has the potential to redefine how energy resources flow across continents.
In this video, we will cross the complex web of alliances and rivalries, examining how this project could potentially shift the balance of power in the energy arena. From the heart of Russia’s resource-rich lands to the vast deserts of Saudi Arabia, this railway serves as a testament to the relentless pursuit of innovation and cooperation, even in the face of global complexities.
So, we’ve got this news about cargo moving through Iran soon. It will enter from Turkmenistan via the Incheh-Boroun border crossing, aiming to reach Bandar Abbas down south for a trip to Saudi Arabia.
Picture a train carrying 36 containers on a journey known as the International North-South Transport Corridor, as Miad Salehi points out.
Now, the cool part? This new route is all about efficiency. It’s estimated that this path could shave off a good chunk of delivery time, saving a bunch of days. And the cherry on top is that the cost of transit along this route has dropped by almost half, thanks to some nifty reductions in customs tariffs. Nice little bonus, right?
This whole setup is a key player in moving products around. We’re talking nearly $250 billion worth of goods from places like India, China, and East Asia headed to Europe through this corridor. So, it’s kind of a big deal.
Recently, the founding member countries of the International North-South Transport Corridor – Iran, Russia, and India – got together in Tehran. They called it “Iran Rah,” and it was all about finding ways to boost freight transit along this exciting new route.
This meeting was a powerhouse of key figures, with the lineup including top-tier officials like Iran’s Transport and Urban Development Minister and India’s Deputy National Security Advisor. It’s like a league of influential minds coming together to pave the way for some big moves. Now, picture this: During this meeting, the stage was set for some significant discussions.
Iran didn’t hold back on sharing its core principles, ones that revolve around teamwork, making trade smooth as butter, and getting smart about transit development. It’s like they’ve got this blueprint for successful partnerships that’s as clear as day.
But here’s where the excitement kicks in.
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Iran’s not just talking the talk; they’re walking the walk when it comes to collaborating with their neighbors. It’s like they’ve got this turbocharged enthusiasm to team up for a mega boost in trade.
And that’s not all, they’ve got a strategy that’s as clever as a chess move. By hitching their wagon to the Shanghai Cooperation Organization and the Eurasian Economic Union, Iran flinging open doors of opportunities for their trade pals.
India’s also pretty keen on making this corridor a success. They’ve got their resources ready to roll and they’re all in for collaboration with Iran and Russia to get the job done right.
Do you know what Lavitin’s got in mind? He’s talking about having a single strategy for trading through this corridor. It’s like the golden rule for making trade work smoothly in this initiative. And guess what? The big topic in this meeting was all about setting that common framework and getting everyone on the same page who’s interested in using this route.
Also, he’s got a vision for this corridor to be like a humanitarian pathway, and he’s giving a shout-out to all the countries around to hop on board and make it happen.
Now, let’s rewind a bit. Let’s take a journey back in time to the year 2000, when the seeds of the International North-South Transport Corridor were first planted by none other than Iran, Russia, and India.
Now, fast forward to today, and: the INSTC has blossomed into this epic multi-modal network, like a dynamic web woven across countries.
SD Bullion
Premiered Sep 8, 2023
After having added a net positive +55 metric tonnes of Official Gold Bullion last July 2023, reports of more steady central bank gold bullion buying last month, August 2023.
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Poland bought for the 5th month in a row, bringing their net official gold bullion buying to 88 metric tonnes thus far in 2023.
China bought last month as well, the 10th month in a row of official gold bullion buying, buying since November of last year, 2022, a running addition of 217 metric tonnes to their now underreported official gold holding of 2,165 metric tonnes.
When we look at the world of physical gold in the year 2023, a few things remain glaringly apparent to anyone who bothers to look.
Central banks are buying gold in record size and at an all-time historic pace.
Yet, in this world that has so leveraged paper asset values over physical gold values to the tune of never-before-seen historic leverage.
Modern investors, especially in the West, are gold-illiterate by design and own next to no bullion.
Yet the self-titled, supposed global gold industry spokesman body, the World Gold Council, founded in 1987, the same year the Bank of England founded the London Bullion Market Association, they are spending loads of marketing capital to give their potential gold illiterate viewers a fractal story of the modern-day gold market saga.
Hiring a well-paid famous actor to go around the world and gawk at the size and scale of the modern-day gold market is unlikely to tell the sordid story of what has happened to modern-day gold price discovery under full fiat financialization run amok 1980s onwards.
To dare cover a shred of that ongoing story, we at least look at a few data points and facts right here, right now.
In 1987, both the WGC and LBMA were founded the latter by the Bank of England, and surely the former World Gold Council was not coincidental in its being founded in the same year.
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Since then, the world has increasingly seen a massive price discrepancy building in day-to-day intra-day gold price action, where generally, the price of gold goes up during eastern trading hours and the price of gold gets consistently smashed during western trading hours.
Recall back to the early 2010s when the commercial gold and silver London price fixing banks got sued for manipulating price discovery on a consistent basis.
Well, today, the eastern outside London AM & PM price fix trading hours have now ballooned beyond $28,000 per troy ounce, where, of course the ongoing spot price for gold heavily influences we outsized western derivative trading is still grappling to clear the $2,000 oz price threshold for a long term support and eventual move higher for gold.
It was just over one year ago when former London gold and precious metals market trader Peter Hambro admitted in a public article and editorial that the gold price has been rigged since the 1980s.
So yes, famed actor for hire Idris Elba is a mere sliver of the damning body of ongoing data and circumstantial evidence of what the modern gold market has devolved into.
The spot silver price closed just under $23 oz bid while the spot gold price finished just under $1920 oz bid for the week.
The spot-gold-silver ratio fell slightly on silver’s relative strength over gold to close at 83.
That will be all for this week’s SD Bullion Market Update.
Liberty and Finance
Premiered Sep 9, 2023
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Francis Hunt analysis of the gold/silver ratio forecasts a possible abrupt move to the upside for the silver price. Based on current chart structures, his upside target for silver is above $40. He explains why inflation has likely not peaked, and how a rise in oil prices could lead to a further surge in inflation.
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