MikeCristo8
@MikeCristo8
OIL PRICES WILL DROP LIKE A ROCK WITHOUT THE OPEC DOLLAR-OIL PEG
BoA has no idea what the hell they’re talking about:
zerohedge
@zerohedge
And there we go Bank of America Corp. expects the Federal Reserve to announce plans to begin tapering the runoff of its Treasuries holdings in March, coinciding with its first 25 basis points interest-rate cut. twitter.com/zerohedge/stat…
“Oil in dollar terms is going to drop like a stone without the OPEC dollar-oil peg which I’ve written about. (Removed on Dec 5th during P---n’s visit) OPEC is no longer managing oil production output to keep the dollar above $80 bbl. And as the $100 Trillion in off-book (U.S. Treasuries) come flooding back as BRICS abandons those dollar reserves (in the oil trade), will force Jerome Powell to raise rates even higher.
Of course the @federalreserve isn’t going to tell you this yet. We are in a deflationary collapse (oil) and bond yields will collapse and inflation will rise higher. If the Fed wants to keep the oil price from collapsing, they WILL raise rates. But even that won’t help because the Chinese and Hong Kong banks are now on Basel III.”
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