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This compilation of financial insights includes videos from Tech Revolution, Wall Street Silver, ITM Trading, and Palisades Gold Radio.
Tech Revolution shares news of Saudi Arabia and Russia rallying together to get on board with production cuts.
Peter St Onge on Wall Street Silver talks about varying signals from oil, gold, and government bonds regarding inflation and recession.
E.B. Tucker, bestselling author of “Why Gold, Why Now?” joins Daniela Cambone on ITM Trading to discuss the great monetary pivot.
Steve St. Angelo of the SRSrocco Report joins Tom on Palisades Gold Radio to talk about miners confirming gold’s moves.
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Tech Revolution
Dec 15, 2023
Russia and Saudi Arabia are rallying other OPEC+ producers to get on board with production cuts. This push comes after a meeting between Russian President V************n and Saudi Crown Prince Mohammed bin Salman in Riyadh, where they emphasized the critical importance of all nations adhering to the OPEC+ agreement. The leaders highlighted that this unity is not only essential for the interests of producers and consumers but also crucial for supporting global economic growth.
In a joint statement, the Russian version emphasizes “joining,” while the English version uses the term “adhere” to the OPEC+ agreement. This sentiment is reiterated in a statement from the Saudi Press Agency after P***n’s visit, emphasizing the significance of all nations sticking to the agreement for the benefit of both producers and consumers.
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The leaders expressed appreciation for the cooperation in the energy sector and the successful efforts of OPEC+ countries in stabilizing global oil markets. They called for continued collaboration, with all nations maintaining their commitment to the OPEC+ agreement to foster global economic growth.
P***n’s rare visit to Saudi Arabia, including a trip to another major Gulf oil producer, the United Arab Emirates, followed OPEC+’s announcement of less-than-expected production cuts for the next year. In response, Saudi Arabia and Russia expressed readiness to take additional steps if necessary, with Russia’s Deputy Prime Minister, Alexander Novak, indicating a willingness to avoid market issues in early 2024.
Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, hinted at the possibility of extending production cuts beyond March 2024 if market conditions require it. Expressing frustration with commentators who may not fully grasp the details of the production agreement, the leaders underscored their commitment to ensuring stability in global oil markets.
P***n’s recent visit to Riyadh and Abu Dhabi, accompanied by four Russian fighter jets, raised questions about the purpose of this rare overseas trip. While the Kremlin reported discussions on various hot topics such as conflicts in Gaza, U*****e, and Yemen, as well as the Iranian nuclear program, the visit also signaled diplomatic efforts to strengthen ties with Middle Eastern nations.
Shifting gears to the COP28 meeting, where countries gather to discuss environmental issues, Saudi Arabia emerges as a key player resisting talks of phasing out fossil fuels. The New York Times reports that Saudi Arabia is a major obstacle to the agreement, opposing any mention of fossil fuels and hindering efforts to triple global renewable energy by 2030.
Saudi negotiators are employing strategic moves, including slowing down provisions meant to help vulnerable countries adapt to climate change, and even staging a walkout in a side meeting. The Financial Times reports tensions between Saudi Arabia and the United Arab Emirates, the host of COP28, with Saudi Arabia allegedly dissatisfied with the UAE’s handling of the summit.
OPEC’s top official, Haitham Al Ghais, sent a letter to its member countries and OPEC+ allies, urging them to reject deals targeting fossil fuels at COP28. Al Ghais emphasized OPEC’s focus on reducing emissions and the need for significant investments in all types of energy, including fossil fuels. However, this stance faced criticism from key players, with the European Union’s climate chief and U.S. lawmakers expressing concerns.
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The reactions from OPEC member countries reflect the economic significance of oil, with 80% of the world’s known oil reserves owned by these nations, mainly in the Middle East. For these countries, the discussions at COP28 about reducing oil and gas usage pose a direct challenge to their economic survival. Ministers from Iraq, Kuwait, Algeria, Libya, and Oman attended an energy meeting, expressing the critical importance of oil revenues to their economies. Notably absent was the UAE Energy Minister, reflecting the diverse opinions within OPEC regarding the energy transition, with some advocating for a practical shift while continuing to use fossil fuels.
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Wall Street Silver
Dec 15, 2023
In this video, Peter delves into the varying signals from oil, gold, and government bonds regarding inflation and recession. Peter scrutinize the Federal Reserve’s influential role and question if central banks stabilize or destabilize economies. Analyzing key indicators like oil and gold prices, Peter assesses the potential for a looming recession and the impact on assets like Bitcoin. Additionally, Peter examines the paradoxical behavior of government bonds and explores scenarios from a potential ‘soft landing’ to stagflation and sovereign debt concerns.
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ITM TRADING, INC.
Dec 15, 2023
“The gameplay is to control the growth rate,” explains E.B. Tucker, bestselling author of “Why Gold, Why Now?” in our recent interview with Daniela Cambone. Tucker delves into how the actions of the Federal Reserve are averting a deflationary scenario for 2024. “If you don’t manage it up, things deflate. If things deflate, the whole system breaks. That’s not going to happen,” Tucker emphasizes. He also underscores the importance of maintaining objectivity in investing. “You have to be able to change your mind when the facts change” to avoid falling into bear traps, Tucker advises. Additionally, he notes that private credit companies are increasingly taking on the role of traditional banks in lending money. As we approach the New Year, Tucker urges people to take action promptly instead of waiting around. “If you want to change your life, do it today,” he concludes.
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Palisades Gold Radio
Dec 15, 2023
Tom welcomes back Steve St. Angelo of the SRSrocco Report.
Steve discusses several topics related to the precious metals market, gold mining, renewable energy, and the oil industry. He believes that the current precious metals rally may not be sustainable and is driven by paper digital futures markup rather than increased demand from institutions and high net worth individuals. He also discusses the potential impact of decreased demand if investors start investing in financial assets and treasuries instead of gold. Steve suggests that gold prices are affected by the amount of money invested in gold mining and various production costs.
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He discusses the disparity between gold and silver prices and the struggles of primary silver miners. They mention the growth of the US treasuries and the battle between treasuries and the gold market. Steve believes that there is an unsustainable increase in financial assets compared to the real GDP growth and lack of energy to settle these assets.
Lastly, Steve discusses the renewable energy sector and its challenges, highlighting the need for a new market to develop to improve energy efficiency. The interview concludes with a discussion on the US oil industry and the challenges it faces, including declining shale production and new regulations.
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