I received a message in my inbox this am from a guy who runs a local wealth building club. He rarely sends emails out to members, so when I get one I know its probably big news. I am also not in the commodity trading business (let alone oil), but it sounds like this is big news regarding the US dollar:
Jim Sinclair's Mindset
Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange.
The decision by the world’s biggest oil exporter could encourage other producers to abandon the benchmark and threatens the dominance of the world’s most heavily traded oil futures contract. It is the main contract traded on Nymex.
... and ...
I suspect the Saudis drop of West Texas Intermediate as the measure of price is a step away from the huge US interest that with the use of highly sophisticated computer programs and infinite finance are able to adjust the price of world energy.
Any move away is an effort to untangle that relationship.
Any move away is another effort to untangle from dollar dependency.
As any exchange loses the value of an instrument in terms of control another acquires it.
As the West loses control of key economic entities it loses position.
As the USA loses its grip on key markets, the US dollar loses more dollar influence.
As dollar influence is lost dollar use declines.
As dollar use declines dollar demand declines
As dollar demand declines dollar price declines.
This is not an opinion. This is axiomatic.
Jim Sinclair's Mindset
Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange.
The decision by the world’s biggest oil exporter could encourage other producers to abandon the benchmark and threatens the dominance of the world’s most heavily traded oil futures contract. It is the main contract traded on Nymex.
... and ...
I suspect the Saudis drop of West Texas Intermediate as the measure of price is a step away from the huge US interest that with the use of highly sophisticated computer programs and infinite finance are able to adjust the price of world energy.
Any move away is an effort to untangle that relationship.
Any move away is another effort to untangle from dollar dependency.
As any exchange loses the value of an instrument in terms of control another acquires it.
As the West loses control of key economic entities it loses position.
As the USA loses its grip on key markets, the US dollar loses more dollar influence.
As dollar influence is lost dollar use declines.
As dollar use declines dollar demand declines
As dollar demand declines dollar price declines.
This is not an opinion. This is axiomatic.
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