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Rod

Triggers that could affect economic chaos

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Up here in ontario Canada, we are now paying $1.40 a litre for regular gas. Which is $6.30 a gallon.:mad: You guy's in the states have it good compaired to us Canadians.

 

And Canada has more oil and gas than most of the producing countries and they are getting screwed

as if I grow the crop and grind the flour then my price should be little to nothing but no the powers that

be have lied to us and are stealing us blind and keeping us in a financial slavery IMO.

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Today a major pipeline was destroyed in Saudi Arabia by anti-American terrorists. The pipeline carried light-sweet crude, the most desirable type. This is the sort of trigger that could ripple outwards to cause economic chaos.

 

Several analysts have begun to warn that oil prices have reached a level where they pose a risk to the economy, by consuming too large a share of spending which deflates growth. That level is currently $110/barrel. The destruction of the pipeline has already spiked prices upwards right at the end of the day. It will undoubtebly continue upwards tomorrow.

 

Is this the straw that will break the camel's back? Doubtful. However, economic chaos often results more from speculation than reality. Enough of these types of shocks will introduce too much uncertainty and the market will start to run out of control.

 

Managing a world market is something no-one has any real experience with. We are treading on very thin ice here.

 

Just one man's opinion.

What about the European economy,with all this banks tied together,we could have another 1920`s in our hands,if the overseas banks fail.And I don`t know if this is good news or not,but in Greese the Neo-Nazi party took 6% of the vote in paliarment,calling for war to the enemies of Greese,what ever that means,but is definite not helping the European situation any,nor the World market,which we are a part of.

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Oil surged above $110 a barrel in after-hours trading Thursday on a disputed report by an Iranian media outlet that an explosion occurred somewhere on a Saudi Arabian pipeline.

 

Saudi officials issued a statement around 4 p.m. EST saying the report was untrue, and oil prices have since slipped.

 

After settling for the day up $1.77, or 1.7%, at $108.84 on the New York Mercantile Exchange, the commodity jumped as high as $110.55 after Dow Jones reported the Iranian account. Brent crude futures in Europe hit a three year high, topping $128 a barrel.

 

The report came from the web site of Press TV, a 24-hour news channel owned by Iran’s government. It offered no source to its account. Inside a glaring graphic reading “Breaking News,” the site claimed “Oil Prices Hit 10-month High after oil pipelines exploded in the east of Saudi Arabia.”

 

A Saudi oil official told FOXBusiness.com that no explosion occurred and there are no disruptions to pipeline.

 

I just found this..NO other news group is reporting it..

 

Iran is now saying ................BOOOO bet I scared you ha ha...

 

Would you care to bet that someone made a bundle on the spike? It would be interesting to know and someone with some stock market savvy could verey likely find out.

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Would you care to bet that someone made a bundle on the spike? It would be interesting to know and someone with some stock market savvy could verey likely find out.

 

I won't take that bet! Somebody is always manipulating something to make a buck. Best I can due is stay far enough below the radar to avoid most of the shrapnel!

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George Soros... Follow The money in most of the shady deals around the world, and they'll lead right to his front door. I can see what he HAS done. I just wish I could see what he IS doing. I would have plenty of reserve cash if I could do the same thing at the same time.

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