Moon of Alabama Brecht quote
July 16, 2022

In Politics Necessities Will Always Beat 'Values'

When in 2018 the royal thugs send by the Saudi clown prince Mohammad bin Salman killed the Qatari lobbyist Jamal Khashoggi the Democrats made a huge issue out of it.

That was mainly because Khashoggi, a life long Muslim Brother propagandist, had been a columnist at the Washington Post where he published under his own name op-eds which were written in the Qatari embassy. Later the Qatari's used his death to intensify their anti-Saudi agitation.

Biden needed the Post's support and joined the Qatari campaign.

"We were going to in fact make them pay the price, and make them in fact the pariah that they are," Biden said of the Saudi government during a presidential debate in November 2019.

"They have to be held accountable," Biden added.
Source:

The problem with such statements of 'values' is that - in the end - necessities will win. Biden needs lower oil prices to raise the chance for the Democrats to at least keep a majority in the House.

The Senate is already lost as Senator Joe Manchin, despite being a nominal Democrat, is blocking most things the Democrats wanted to achieve.

On Friday Biden's flight to Riyadh was less dramatic than the humiliation of Canossa but still significant. He was greeted at the airport by only a minor prince. When president Trump had first arrived in Riyadh he had been greeted by the Saudi king.


bigger

At their first meeting clown prince Mohammad bin Salman had visibly fun with the humiliation of Biden.


bigger

The next day, when the other rulers of the Golf Cooperation Council arrived, MbS was at the airport and greeted everyone in person.

That he defeated the U.S. president like this has won MbS a lot of new prestige in the Gulf region and beyond.

As for more oil ... none will be coming. The Saudis will stick to the current OPEC+ agreement that limits the output of its member states. When the agreement ends later this years the Saudis may increase their output but analysts doubt that they can currently produce much more than they already do. Way more likely is that the recessions in Europe and the U.S. will soon decrease the demand for oil and that prices at the pump will fall. That then could induce OPEC+ to prolong its agreement.

Joe Biden is known to be a revengeful man.

MbS should take great care of his personal security.

Talk of 'values' is also a big thing for the arrogant leaders of the EU and some of its member states. By sticking to those over the Ukraine issues they committed to suicide their own economies. Necessities will catch up with them and I predict that it will take less than four year for them to crawl to Moscow and to ask for forgiveness of their sins.

Posted by b on July 16, 2022 at 17:43 UTC | Permalink

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Unexpectedly, I find that I am not the only one who finger Khashoggi, made man.
It should be obvious that the reason why MBS burned him was not an "attack" on the mythical free press. But I reckon, the feds have thoroughly convinced professional "journalists" that an injury to one CIA asset is an injury to all.

Posted by: sln2002 | Jul 16 2022 17:51 utc | 1

It's difficult to avenge a crime when no body was ever produced. Corpus delicti and all.
And there has been talk for years that the Saudis have hit peak oil. They were pumping salt water into the fields for awhile. Yesterday Alexander Mercouris reported that the Saudis are now buying Russian oil.
You can't get blood from a turnip and you can't get oil from a played-out field.

Posted by: wagelaborer | Jul 16 2022 17:52 utc | 2

Yes, it was all a great humiliation, except in the eyes of the mainstream media. The rest of the world does not respect Biden, which means they no longer fear him or the U.S. military, either. It's one thing not to be loved (when was the U.S. loved in much of the developing world) but it is worse not to be feared. Americans will soon learn the consequences of all this as the economic decline hits home.

Posted by: FHTEX | Jul 16 2022 17:58 utc | 3

From someone on the ground, the only reason of the ceasefire in Yemen is to allow oil geting out of the port of Hodeyda.

Posted by: Oldanon | Jul 16 2022 18:01 utc | 4

Wagelaborer @2

And that is why the Saudi oil system was put up for sale, and why in turn no one was interested.

Saudi is no longer able to pump at will, as it was when the US manipulated oil price to bring down the USSR.

Posted by: Arfur Mo | Jul 16 2022 18:08 utc | 5

Gotta love that necessity stuff. Only for it posers and fabulists would never stop posing and fabulating. It must be great to be President Putin though with all those degrees of freedom he has. He can go fast or slow, heavy or light. The reward for virtue? Were I him I’d stay doing what he’s doing. Ruin the EU and NATO and the US by having them pour money and material into a lost cause. The guys against him must never have heard of sunk costs or the gamblers fallacy at college.

Posted by: SamSpade | Jul 16 2022 18:12 utc | 6

You gotta know when to hold them, know when to fold them, know when to walk away and know when to run.

Posted by: Leigh Marvin | Jul 16 2022 18:15 utc | 7

Oldanon @3

Hodeyda is small fry for oil import/export. There are no offshore terminals. All vessels have to dock at the quayside. It is however home to substantial grain and flour processing and storage facilities. Saudia will be interested in the untapped offshore oil/gas reserves.

Posted by: Arfur Mo | Jul 16 2022 18:17 utc | 8

Remember a few years ago when the Outlaw US Empire's BigLie Media was boasting about exporting oil again, that the reliance on Saudi and other providers was no longer critical? Well, guess what--it was a BigLie, not that exports were happening, but that reliance on providers was no longer critical. So, a coup was attempted, and Venezuelan oil was taken off the market along with the critical supplies of its gasoline, diesel and heating oil, which joined Iranian oil and further strained an already tight--meaning little to zero spare capacity--market. Covid delayed the natural hike in prices but that put additional pressure on the Fracking Ponzi scheme and caused many to go BK despite Trillions being poured into the repo market prior to covid's onset. Yet, fuel prices remained low. Economic rebound once covid eased increased demand and thus price. Big Oil now had an extremely friendly Biden versus Trump under its thumb and knew the Green initiative would be quashed by Manchin in collusion with Biden. Big Oil was then given the green light to increase fuel prices beyond the usual tie-in with global oil rates because the Biden team said the coming contrived Russian crisis would act as a screen for their price gouging. All that can be seen by comparing EIA data as I've suggested over the past ten days or so. Even while Biden was touting the SPR as a relief mechanism, oil and products were still being exported when pricing indicated that all were required by the home market. The upshot is that MbS, Putin, and other major players all know the real score, while at home a portion of the Outlaw US Empire's public has slowly figured it all out.

An interesting poll was published late yesterday by RT, "Trump voters favor secession for their states:"

About 33% of Trump voters in so-called red states say they’d personally fare better if their state “became an independent country,” according to a Yahoo/YouGov poll released on Friday. That compares with 29% who believe they’d be “worse off” after secession. The remaining 38% are either unsure or see themselves faring “about the same” in a newly independent state.

The margin was similar when Americans were asked how their state as a whole would fare after secession, with 35% of Trump voters speculating it would be better off, versus 30% saying that it would be worse off.

The poll is the latest illustration of increasing political polarization and cultural division in American life. Half of Americans believe there will be another US civil war in their lifetime and that the country will cease to be a democracy at some point, an earlier Yahoo/YouGov poll showed in June.

Those numbers are just a bit higher than at the end of Trump's term, but others have increased due to Biden's ineptness:

About 92% of red-state Trump voters trust their state government more than the federal government to do “what’s best,” the latest poll found. Eight in ten blue-state residents who voted for President Joe Biden in 2020 trust their state government more than Washington.

Just 15% of overall respondents believe the US is “generally headed in the right direction,” compared with 72% who say it’s “off on the wrong track,” the poll showed. Only 27% trust that Biden is “up to the challenges facing the US,” versus 56% who say he isn’t.

Americans also have a grim outlook of the future, with 46% saying the next generation will be “worse off” and only 25% saying it will be “better off.” Similarly, 37% of voters believe America’s best days are “behind us,” compared with 31% who say those days are “still to come.”

Imagine what those numbers would be if citizens actually knew what was being done to them and for how long it's been happening.

Posted by: karlof1 | Jul 16 2022 18:21 utc | 9

The only thing Biden got right with this trip, was finding the perfect place to pound sand: Saudi Arabia.

Posted by: Et Tu | Jul 16 2022 18:29 utc | 10

Aramco will be more than happy to buy a heap of that heavy Ural crude, refine it into diesel, mark it up bigtime, and send to JoeSixPack in the US.

It’s a win win all around

Posted by: Exile | Jul 16 2022 18:32 utc | 11

@karlof1 #8
What you describe in your post is mostly inaccurate.

Big Oil does not consider Biden - or at least the Biden as controlled by Obama and HRC string pullers - a friend.

That is one major reason why none of them are investing anymore remotely what these industries have invested into capital expenditure in the past, and why it is still unclear that demand reduction in the US and EU will actually offset the ongoing demand shortfall - because supply is decreasing as well.

I have posted multiple pics showing that the capex spend at this point in time is literally under 20% of past capex levels during oil price increases/commodity cycle upswings.
That is the principal reason why this is going to be a supercycle as opposed to a normal cycle.

I also say US/EU demand reduction will not necessarily fix the supply shortfall because the effective price being paid for oil by the ROW is far, far lower - note that gasoline usage has always been cyclical and we are far from confirming that "it is different this time".

Your description of US oil net export status is also questionable.

Yes, there was massive over-investment in shale initially - but the ensuing underinvestment hasn't changed despite high oil prices and even dramatically higher natural gas prices.

Could the shale oil players produce significantly more oil, economically, at oil price = $100?

Certainly. But they aren't collectively ramping up drilling any more than the offshore, onshore, Arctic or any other variants are ramping up as far as I can tell. And the reason is most likely regulatory uncertainty.

The facts are that the Obama and Biden administrations at best, dragged their feet and at worst, actively hindered fossil fuel industry activity during their respective administrations.

We're talking about pipeline cancellations, lease auction cancellations, lawfare hindrances to develop existing leases, jawboning affecting financing, permit dragging (the EPA has to license new developments), etc etc.

Posted by: c1ue | Jul 16 2022 18:51 utc | 12

Saudis are now buying Russian oil.
Posted by: wagelaborer | Jul 16 2022 17:52 utc | 2

That's not news. What's "news" is sideline G20 deals that MSM studiously omits, because it belies "free world" superiority.

The west press corpse ended the week by working over time to make hay out of Biden's and MBS' "fist bump" courtesy call. In this body language alone, I see nothing more than pity for a dotard. MBS came out of February having declared, he doesn't care what Biden thinks. Macron blabbed at the G7 that KSA, OPEC, has no "spare capacity" to sell out the RF at a loss to fulfill Yellen's racketeering ops or Blinken dealing GCC-crack to the Knesset.

Who’s the 'Pariah’? After Snubbing Biden, Saudi Aramco Agrees to Build Massive Refinery in China, March 2022

The facility will be able to produce 300,000 barrels of oil per day and will have a 1.5 million metric ton-per-year ethylene cracker and a 1.3 million metric ton-per-year paraxylene unit.

Then there's the BRICS 14 prep in bilateral settlement, FX reserves, banking, and insurance. IN imports 85% of energy and has prepared to salvage Exxon, Shell, and BP Sakhalin I, II PSA assets.
India's Central Bank, RBI announces International Trade Settlement in Indian Rupees
ndia asks state-run firms to consider buying Russian oil assets
ndian Firms Signed Contracts To Receive Export Payments From Russia in Yuan

Below is partial schema so-called resource-rich developing nation networks that haven't sanctioned the RF ghosting Gy plans to impose universal bid-rigging "price cap" regimen, because G7 earnestly believe their war machine can embargo what they do not possess AND slay IMF imperial basket *flation.

BRICS expects Egypt, Saudi Arabia and Turkey to join group soon
"Their total foreign exchange reserves are $4 trillion." Turkey has already entered RF consumer market, according to RU trade presses.

SCO (2001 NGO): CN, RU, IN, PK, KZ, KG, TJ, UZ, AM*, AF*, AZ*, BY*, TR*, LK*, KH*
CPEC (2015 FTA): CN, PK, MN*, RU*, KZ*, KG*, TJ*, AF*, IN*
OPEC (1960 FTA): IR, IQ, KW, NG, SA, VZ, LY, AE, AL, AO, GQ, CG, GA; plus OM*, s-SS*, SS*, BN*, RU*, MX*, AZ*, KZ*, MY*, BH*, EC*, ID*, QA*
BRICS (2009 FTA): CN, RU, BR, IN, ZA; AR*, DZ*, EG*, ID*, IR*, CM*, ML*, SN*, TH*, UZ*, FJ*, ET*, KZ*, SA*, TR*, EG*

* observer, dialogue, or applicant member

Posted by: sln2002 | Jul 16 2022 18:56 utc | 13

I think the main purpose of this trip was Israel: To assure the Israelis aka Jews that as a dye-in-the-wool dedicated Zionist (whatever that means!), he's got their back covered. They are going to develop some joint laser anti-missile system together, as if that will deter Iran.

As I said on RT, "Israel is to Iran what South Korea (Seoul) is to North Korea: A stone age parking lot! Of course, both Iran and North Korea would be too! But at least they get the first shot!"

Posted by: Sam Smith | Jul 16 2022 19:17 utc | 14

I recognize I am in the minority when posting this, but there is a lot that does not add up with the official stories about Khashoggi.

Before the ascension of MbS, Jamal Khashoggi was a trusted intermediary between the USA and the Saudi Royals. He would have had high level connections with the State Department and CIA. He may have been more, his famous uncle was an arms dealer after all.

Perhaps he decided to become a personal thorn for MbS because MbS did not want to use him as an intermediary. But the idea that Khashoggi became an MbS critic because of the slow pace of reforms seems trivial. His WaPo editorials were not close to the worst criticisms out there.

In any case, it was common knowledge there was a grudge. It is also common knowledge that the US "Deep State" is always looking for ways to keep the Saudi's on a short leash.

I concluded that what really happened is this. The CIA encouraged Khashoggi's WaPo editorials, they were simply deploying their lifelong asset in a new role. I am less convinced than "b" of the significance of the Muslim Brotherhood angle. So MbS sent a message to the US that they should shut him up or he would. The CIA agreed and they decided Khashoggi should be retired.

The rest was a ruse which allowed them to then blame the outcome on the relative political novice MbS.

Consider:

Why would Khashoggi go to the Saudi Consulate (his supposed enemies house) without any security or a bodyguard? Why not send a law clerk to pick up the divorce papers?

We saw security footage of him entering, but none of his (Turkish Intel) fiance allegedly paging outside for hours afterward.

Then there were multiple contradictory, gruesome and over-the-top details "leaked" of the murder. Allegedly a local "contractor" disposed of the body. Yet no one has attempted to locate and interview or charge this person. The level of gore reported was designed to bypass the cerebral cortex, which might say, "wait a minute here".

There was a very muted response from Trump (who once owned Uncle Adnan Khashoggi's yacht) and even the WaPo's reporting was relatively light, considering he was supposed to be one of their own.

The Saudi "trials" were a joke, behind closed doors with no reporting or sentencing details, just some names which could have come from the Saudi phone book.

They are toying with us... again.

Posted by: Opport Knocks | Jul 16 2022 19:24 utc | 15

14 yes dont forget his other uncle was princess dianas fiancee killed in the car accident. a very powerful family that was played hard against the anglo zionists. no 2 on the hill doesnt fare well in wars. certainly lots to that story mortals will never know

Posted by: hankster | Jul 16 2022 19:35 utc | 16

Interesting developments.

Unlike natural gas, the oil market is not fundamentally limited by transport costs. Seaborne transport infrastructure is not a multi-decade gamble like for natgas. It can be stored for more than just one year. And China is capable of buying all the sanctioned oil from all the sanctioned countries at the same time, if the price is good enough.

So the disruptions they speculate about are on the level of financial contracts and insurance papers. Meaningless beyond a year or so.

On the other hand, sustaining production in the face of a progressively more and more marginal geological resource is actually expensive. (and energy intensive... ahem, natgas again)

Saudis Arabia perhaps will now do the play-all-sides game like Turkey has been doing. Probably in various combinations with other Gulf powers and Israel too. They can get away with anything for the next few months, and long term they will need to start looking for a security-guarantee relationship with China also.

Posted by: ptb | Jul 16 2022 19:36 utc | 17

Capitalism wins over values

Paper by a philosopher. Marx has a big role in the paper.

"What is Covid Capitalism?"

https://www.academia.edu/81661709/What_is_COVID_Capitalism

Posted by: Don Midwest | Jul 16 2022 19:38 utc | 18

@14
intrigue of different clans in the royal family? hopelessly opaque for outsiders

Posted by: ptb | Jul 16 2022 19:39 utc | 19

The lawyw

Posted by: Ken | Jul 16 2022 19:51 utc | 20

Its not so long ago the US was practically begging Saudi to cut their production to prop up the price of oil - whilst at the same time the US itself was frakking at an ever more frantic pace to pay for their wells and crashing the market with excessive volumes.

If the best Biden has to offer is a joint pact vs Iran with the US and Israel then I hope he sends the doddering old fool packing and the Middle Eastern countries begin to settle their disputes free of the US / Israeli warmongers.

Posted by: Al Dossary | Jul 16 2022 19:52 utc | 21

It's difficult to avenge a crime when no body was ever produced. Corpus delicti and all.
And there has been talk for years that the Saudis have hit peak oil. They were pumping salt water into the fields for awhile. Yesterday Alexander Mercouris reported that the Saudis are now buying Russian oil.
You can't get blood from a turnip and you can't get oil from a played-out field.
Posted by: wagelaborer | Jul 16 2022 17:52 utc | 2


I'm pretty sure one of the bar patrons did a very good breakdown of your observation during the dud Saudi Aramco floatation.
Maybe or someone else can access the story.
But yes it's a very real possibility.
Party over folks.

Posted by: Jpc | Jul 16 2022 19:53 utc | 22

The lawyer representing the 9/11 families suing Saudi Arabia says Khashoggi was starting to talk to their team and was killed by Saudi Arabia because of it.

Posted by: Ken | Jul 16 2022 19:53 utc | 23

"
Fist bump the hand you will not shake"
Joe Tzu

Posted by: Jpc | Jul 16 2022 19:55 utc | 24

Interesting.

Peak toxic oil has come and gone twenty years ago. This toxic polluting slime is in decline. End of story.

Posted by: Bad Deal Motors On | Jul 16 2022 20:02 utc | 25

All of the Hand-Wringing by 'liberals' about Khashoggi's Execution ignores the Fact that Saudi Arabia is an Absolute Monarchy - so if the King says "Off with his Head", for any reason, well, your Head comes Off. Since the Execution took place in the Saudi Embassy, the 'Land' of the Kingdom, having the Royal Executioner 'take care of business' there was Not a violation of the Laws of the Host Country.

Hard to see why this was a Problem.

Posted by: Gryphon | Jul 16 2022 20:06 utc | 26

thanks b.... i agree.. political expediency is the name of the game.. forget about values.. there ain't any to begin with other then money of course...

@ Gryphon | Jul 16 2022 20:06 utc | 25

yeah and that is how the saudi monarchy thought as well, though some of us think we are living in the 21st century, the folks in saudi arabia are working from the point of view we are still back in the 9th century or something... but hey - money trumps, and they have to keep the shites down inside and out... usa and israel are down with it too, lol...

Posted by: james | Jul 16 2022 20:11 utc | 27

Ken @ 22

9/11 Families Detail Meeting With Slain Reporter Khashoggi
That opens a can of worms. Was he blackmailing the Saudis? Was he an intermediary? A spy for the Saudis? A glory hound? Did he offer us something and failed to deliver? Did he know too much?

Good grief, the weeds are tall, wet and sharp on this story.

Posted by: circumspect | Jul 16 2022 20:12 utc | 28

Correction: Jamal Khashoggi was a Saudi American journalist (resident of USA), not Qatari. He was in the Saudi embassy to get a marriage license from his home country to marry his Turkish fiancee.

Posted by: Poshpotdllr | Jul 16 2022 20:15 utc | 29

The Saudi's are buying Russian oil at a discount makes complete economic sense. The Kingdom still has a number of huge heavy oil fired power stations. Buy the heavy Russian crude and offload their own at market prices makes it Win-Win for them. $2.35 a gallon for gas at present there.

Its summer, and despite a 'cold' year for them so far, 45c or more is normal across much of the country for the next few months, so any chance to reduce their generating costs will be taken.

Posted by: Al Dossary | Jul 16 2022 20:15 utc | 30

@ Posted by: Poshpotdllr | Jul 16 2022 20:15 utc | 28

Correction - "Qatari Lobbyist" refers to the interested party being lobbyed, not the nationality of the lobbyist

Posted by: NerdAlert | Jul 16 2022 20:24 utc | 31

I fear the hubris and arrogance in the EU's privileged class aka elites will cause them refusing to crawl on their bellies toward Moscow asking for redemption but instead would rather sit it out until a Sri Lanka scenario unfolds waiting for a helicopter to ferry them to some safe place abroad.

As for the Democrats and Biden my assumption is that in the mid term elections the Democratic party will make the biggest loss in history. Biden's popularity had already plummeted earlier because of the economic woes and lack of victories in Ukraine, his mental degeneration (symbolic for an empire in decline) and his corrupt womanizing son Hunter Biden who can't stay away from hookers and cocaine. Check out this picture with Biden junior and some Ukraine prostitutes. If they're adult, it will only be barely. https://s2.cdnstatic.space/wp-content/uploads/2022/07/Biden.jpg (main article https://southfront.org/hunter-biden-involved-in-sexual-scandals-with-ukrainians/)

The Democrats best bet would be for Biden getting a stroke so the voters would be "oh no, how sad" and then let Kamala Harris take his place. Not that I'm hoping for any of this.

Posted by: xor | Jul 16 2022 20:26 utc | 32

Ho-hum.... "In Eurasia, the War of Economic Corridors is in full swing: Mega Eurasian organizations and their respective projects are now converging at record speed, with one global pole way ahead of the other."

And I suppose Escobar doesn't know what he's writing about either. Like Pepe, I've been monitoring the scene for decades:

The War of Economic Corridors is now proceeding full speed ahead, with the game-changing first cargo flow of goods from Russia to India via the International North South Transportation Corridor (INSTC) already in effect.

Very few, both in the east and west, are aware of how this actually has long been in the making: the Russia-Iran-India agreement for implementing a shorter and cheaper Eurasian trade route via the Caspian Sea (compared to the Suez Canal), was first signed in 2000, in the pre-9/11 era.

The INSTC in full operational mode signals a powerful hallmark of Eurasian integration – alongside the Belt and Road Initiative (BRI), the Shanghai Cooperation Organization (SCO), the Eurasian Economic Union (EAEU), and last but not least, what I described as “Pipelineistan” two decades ago.

Those are Pepe's opening paragraphs to a story that's becoming a Saga. Believe what you want but the days of Western Big Oil dominance--like all the rest of the West's domination tools--are behind it which informs its current behavior and the West's in general. Did someone say Global Fracture? Putin, Xi, and their allies are unafraid and say Bring it on.

The Outlaw US Empire has a great deal of crimes it must atone for, meaning its commonfolk will suffer for its deeds. And with 18% inflation and 25% unemployment and a drastically shrinking GDP being reality, those poll numbers will only worsen, while the Truth slowly overcomes the bankrupt Establishment Narrative.

Posted by: karlof1 | Jul 16 2022 20:29 utc | 33

Posted by: Opport Knocks | Jul 16 2022 19:24 utc | 14

you just made me think of something. if the whole story of Jamal is as full of holes as Jeffrey Espstein's suicide, what a coincidence: Epstein was involved in arms deals with Khashoggi's uncle Adnan, whom you mention. What I did not realize is that Trump may have known Adnan. He did know Epstein.

Posted by: Jonathan W | Jul 16 2022 20:29 utc | 34

9/11 lawyer on Khashoggi
https://youtu.be/6nnz0YRy6So?t=1260

Posted by: Ken | Jul 16 2022 20:30 utc | 35

"Joe Biden is known to be a revengeful man.

MbS should take great care of his personal security."

To be fair, MBS doesn't have a bad track record either, just ask Khashog.... oh wait, you can't.

Posted by: Et Tu | Jul 16 2022 20:31 utc | 36

The prince on values according to Al Arabiya


Shared values
The Crown Prince said that all countries, especially the US and Saudi Arabia, have values that they share and those that they don’t, however the right values and principles always affect the peoples of other countries - especially at a time when we see an unprecedented interdependence between the peoples of the world.
According to the Crown Prince, attempting to impose these values by force is counterproductive, as demonstrated in Iraq and Afghanistan, in which the US has not succeeded.
The senior Saudi official added that an entire family that was killed by a drone strike in Afghanistan in August 2021 is still waiting for justice.
Therefore, it is important to know that every country has different values and must be respected, Crown Prince Mohammed bin Salman said, adding that if we assume that the US will deal only with countries that share 100 percent of its values and principles, then it will have no countries that deal with it except NATO countries. He added the the two countries must coexist despite their differences.

Posted by: Fyi | Jul 16 2022 20:34 utc | 37

Read somewhere that even if the Saudis were to open the spigots, they couldn't send enough oil to put a small dent in the current inflated prices.

Posted by: Tom_Q_Collins | Jul 16 2022 20:54 utc | 38

Posted by: Ken | Jul 16 2022 19:53 utc | 22

Source?

Posted by: Tom_Q_Collins | Jul 16 2022 20:55 utc | 39

They are toying with us... again.

Posted by: Opport Knocks | Jul 16 2022 19:24 utc | 14

Narratives in media are the lalalandia earth whereon the Empire of Lies dwells. So naturally any such narratives are certainly false, the only question being how much truth might layered in to make them somewhat credible.

Probably all we need to know is that Khashoggi was working with US Intelligence, possibly a double agent. Most likely he's still alive and has a mansion in Miami next door to Zelenski, and a penthouse in Tel Aviv next door to both Zelenski and Epstein.

Posted by: Scorpion | Jul 16 2022 20:57 utc | 40

Posted by: Opport Knocks | Jul 16 2022 19:24 utc | 14

I've been reading these threads starting at the bottom, so I should have waited to reply to Ken @ 22 until I read yours.

How about an amalgamation of your two theories:

Kashoggi was in fact talking to the families of the 9/11 victims involved in a suit. But given his longstanding relations with the US deep state and previous presidential administrations, it's more likely he is the one who knew details of Saudi involvement in 9/11 and MbS, trying to make sure his new Kingdom re-branding exercise wasn't jeopardized, had Kashoggi taken out. I'd still need to see Ken's source, however.

Posted by: Tom_Q_Collins | Jul 16 2022 21:02 utc | 41

Complementing Escobar's essay is Declan Hayes's from today, "Liberté, Égalité & Fraternité on the March". I know a large number of barflies are unable to access SCF to read this, so I'm posting it in two halves:

The spirit of La Marseillaise, that greatest of all national anthems, is again infusing citizens in countries as diverse as Ukraine, Canada, England, Sri Lanka and the Netherlands, where the banners for liberté, liberté chérie are again unfurled against NATO’s “horde of slaves, traitors, plotting kings.”

In Sri Lanka, they have hunted down the sycophants, invaded their safe spaces and sent the President, the Prime Minister and their incestuous toadies packing. In Canada, truckers assailed dictator Trudeau, who took himself, his young son and his Imelda Marcos collection of socks off to grand stand in Ukraine to escape their wrath. In England, trade unionists like Mick Lynch have arisen to give voice to the legitimate grievances of Her Majesty’s long suffering subjects, those matchstick masses who never make it to the Royals‘ Wimbledon catwalk. The women and children of Ukraine’s eastern regions have had a gut full of NATO’s criminality and the farmers of the Netherlands have showered their masters in cow manure.

July 2022, like July 1789 before it, is a great time to be alive. It is a time of hope, a hope that trade unionists will be given a living wage and that farmers and truckers will retain their autonomy in the face of the machinations of Schwab, Trudeau, von der Leyen and the wretches of the Dutch Royal Family.

Not only are these Dutch farmers and Canadian truckers an endangered species but von der Leyen and Schwab want to extirpate their livelihoods altogether so that the World Economic Forum’s business plans of conquest and subjugation can proceed. Because these truckers and farmers are independent, masters of their rigs, the World Economic Forum must crush them for both ideological and practical reasons. Not only is their independence an affront to the power plays of Trudeau, Schwab and that idiotic von der Leyen woman but their ownership of trucks, trailers and tractors and their willingness to deploy those machines in the service of liberté, liberté chérie make them a formidable enemy Trudeau and his fellow fascists must crush by fair means or foul.

The same in spades, of course, applies for France’s own gilets jaunes, France’s yellow vest protesters, whose forefathers won their rights to liberté, égalité & fraternité in wars so terrible their craven government rightly fears them to this day. And so, as Macron and his cronies take the French Foreign Legion‘s Bastille Day salute, France and the wider world she inspired salute the older, nobler and infinitely more anarchistic legions that stormed the Bastille on July 14, 1789.

This is not to say that Dutch farmers are an unorganized Parisian rabble but to claim the very opposite. Those Dutch farmers who survived the earlier machinations of the World Economic Forum and their EU Presidential drunkards became Europe’s most efficient farmers and, unbeknownst even to themselves, a threat to the power grabs of von der Leyen,Trudeau and Schwab’s other stake holders in controlling Europe’s food supply.

But, if Dutch farmers should be reduced to selling wooden clogs by the pavement and other token entrepreneurial efforts by von der Leyen’s enforcers, what hope have the farmers of Galicia, Romania and other areas which depend on machinery the Dutch jettisoned 30 years ago? Whom can they beg from, if von der Leyen reduces us all to permanent penury?

The French are no strangers to this dilemma. They faced it once before, from 1776 to 1789 and they faced the wrath of the world as a consequence. The Serbs, who sided with the Allies in two world wars, must still pay an awful price for their defense of liberté, liberté chérie and even Moscow’s own children find themselves bereft of freedom fries as McDonald‘s and other NATO outlets jump ship.


Posted by: karlof1 | Jul 16 2022 21:13 utc | 42

These people deserve each other.

The problem: the rest of humanity & the planet doesn’t need more humiliation for these end times. Together they have killed tens of millions of innocents for their ego’s importance their fantasy sect/nation/religion

The owners of everything, the gods of money, create division to make BigBucks thru conflict - make men poor, make them ‘believe’ they’re ‘different’, make them fight… to make a killing.

Watch out MBS? You must be kidding, you’re talking zionist mates desert tribes Vs a senile old man, the face of sects that have destroyed themselves for a buck.

Congrats y’all enjoy age old soap opera entertainment, place adverts for Google executives to laugh all the way to the bank

Posted by: sadness | Jul 16 2022 21:14 utc | 43

And I must have missed @circumspect's link which looks like the source. I'll try to parse these threads more carefully in the future. Here are some quotes from it:

A little less than a year before his murder in Istanbul, Washington Post journalist Jamal Khashoggi spoke to an investigator for the 9/11 families suing Saudi Arabia and sent a text message to senior officials for the kingdom that day.

[...]

“One of the witnesses related to me a very specific threat,” Kreindler and Kreindler attorney Andrew Maloney said in open court.

Maloney — a former federal prosecutor for the Southern District of New York’s criminal division — reported three other perceived threats in a Feb. 22 sworn declaration.

“Several additional witnesses agreed to speak to our investigators only if their identities were kept secret for fear of Saudi retribution,” the 8-page declaration states.

Khashoggi met with investigator Catherine Hunt, a former FBI agent now working with the families, on Oct 26, 2017, and then texted senior Saudi officials that same day, Maloney said.

“Mr. Khashoggi had previously been a government official for Saudi Arabia,” Maloney noted. “In fact, I think he worked for Prince Turki, who was former head of Saudi intelligence. Mr. Khashoggi knew Osama bin Laden, knew of other supporters of Al-Qaeda. He had valuable information.”

The families believe that one of the officials with whom Khashoggi had been in contact was then-Saudi Ambassador Khalid bin Salman, who tweeted about his contact with Khashoggi shortly after the journalist’s death.

“As we told the Washington Post, the last contact I had with Mr. Khashoggi was via text on Oct 26, 2017,” bin Salman, the brother of Saudi Arabia’s current Crown Prince, tweeted on Nov. 16, 2018.

The subject of Khashoggi’s exchange that day with the Crown Prince’s brother remains a mystery.

“We don't know what their conversations were about, but we do know that less than a year later Mr. Khashoggi was murdered—brutally murdered inside the Saudi Consulate in Istanbul in an orchestrated, premeditated murder where the Saudi officials brought a bone saw to chop up his body,” Maloney said.

Stopping short of alleging any direct tie between Khashoggi’s killing and his meeting with the investigator, Maloney claimed that other possible witnesses cited the journalist’s demise as an example of what happens to those who speak out against the kingdom.

Hmmm.....the article goes on at considerable length after the excerpts I posted. To my previous post, some rationale: Kashoggi knew where the 9/11 'bodies are buried' in the Kingdom. From MbS's perspective, the risk of a scandal over the killing of a journo, for what could easily appear on the surface to be back-channel beefs, would be minor compared to the 'smoking gun' that might one day emerge about 9/11 and Saudi/Israeli involvement. Also helps to explain Trump's Abraham accords and the general hands-off, look-the-other-way, actively assist (SA-Yemen, Israel-Syria/Iran), approach the Americans have taken with all countries involved stretching back a few decades to the period surrounding 9/11/2001.

All just speculation and conspiracy theory, of course - but 9/11 *was* and still is a massive conspiracy waiting to be revealed.

Posted by: Tom_Q_Collins | Jul 16 2022 21:15 utc | 44

Posted by: Tom_Q_Collins | Jul 16 2022 21:02 utc | 40

Ken posted the source @34.

But talking about deep state, the fact thay Trump is pictured as the gretest enemy of yhe deep state suggests he is a deep state asset. All this "Abraham Accord" stuff between Israel and Saudi etc through his son-in-law Jared Kushner and then this Trump-Khashoggi-Epstein axis is just too weird.

Posted by: Jonathan W | Jul 16 2022 21:20 utc | 45

All this "Abraham Accord" stuff between Israel and Saudi etc through his son-in-law Jared Kushner and then this Trump-Khashoggi-Epstein axis is just too weird.

Posted by: Jonathan W | Jul 16 2022 21:20 utc | 44

Yeah, sorry I missed multiple links to the source. Should've read more thoroughly. Also, yeah, I alluded to the Abraham Accords and other "odd" behaviors from Washington w/r/t SA, Israel and the other Gulf Monarchies. And once again, yeah, I agree that it is too weird.

Posted by: Tom_Q_Collins | Jul 16 2022 21:24 utc | 46

Posted by: Exile | Jul 16 2022 18:32 utc | 10

Aramco will be more than happy to buy a heap of that heavy Ural crude, refine it into diesel, mark it up bigtime, and send to JoeSixPack in the US.

The oil tankers bringing Saudi crude to Europe would have to return empty, so transporting Russian crude to Saudi Arabia costs next to nothing.

Paraphrasing an old adage about the Internet:

International trade interprets sanctions as damage and routes around them.

Posted by: Petri Krohn | Jul 16 2022 21:25 utc | 47

Gas cuts to Germany could have severe economic consequences not only for Germany, but also other EU countries, which would result in a cascade effect on supply chains and productions levels and “lead to the collapse of entire markets,” said energy and security expert Kirsten Westphal in an interview with Clean Energy Wire.
SOURCE:
https://rmx.news/article/russian-gas-cuts-could-collapse-markets-across-europe-as-germany-prepares-first-crisis-level/

The US FED is implementing policy which results in a higher relative valuation for the US dollar.

If the above is an accurate assessment then it can be expected that Germany, the industrial powerhouse of Europe will be in a world of hurt with the Bavarian Business Association (VBW) warning that as many as 5.6 million jobs across Germany could be lost.

The present political turmoil in Italy also reflects the potential future impact of energy prices two or three times higher than in the past.

In addition, the impact of US tightening on emerging market nations and the global south may be equally severe as most foreign debt is repaid in US dollars. Between rising costs of food imports, reduced exports, and the increased costs of the US dollar debt service, it is possible there will be multiple nations unable to service their debt load and be forced into default.

Globally, the level of debt is 2.5 times global GDP. The key question is: Which nation(s) are most likely to suffer from global debt default? It is believed the majority of the debt is held by the financialized west.

There exists the possibility nations entering default may renounce their debt, terminate their relationship with Western nation finance, and seek to reflate their economies by partnering with BRICS or similar non-western entities. It is non-Western states which are forecast to have the greatest GDP growth.

It is always difficult to make predictions, especially predictions about the future, but there is increasing likelihood of a global economic meltdown, one which will undermine Western financial hegemony and curtail the use of the US dollar in global trade.

If the above occurs it would reinforce the Pozsar thesis:
“We are witnessing the birth of Bretton Woods III – a new world (monetary) order centered around commodity-based currencies in the East that will likely weaken the Eurodollar system and also contribute to inflationary forces in the West.”
SOURCE:
https://www.credit-suisse.com/about-us-news/en/articles/news-and-expertise/we-are-witnessing-the-birth-of-a-new-world-monetary-order-202203.html

Posted by: Sushi | Jul 16 2022 21:34 utc | 48

This may be a little O/T, but did anyone else see this?

https://www.mirror.co.uk/news/world-news/iran-plotting-kill-donald-trump-27490297

To be taken with a boulder of salt given the (tabloid) source.

Iran is plotting to kill or capture Donald Trump and his former secretary of state Mike Pompeo, according to a leaked US government intelligence report.

The Middle East nation is seeking to avenge the United States for the death of Major General Qassim Soleimani, a powerful Iranian commander, at the hands of a US drone strike two years ago.

The astonishing claim came from the latest National Counterterrorism Centre report that said the Iranian regime is "waging a multi-pronged campaign against select US officials".

It said this includes threats of lethal action, international legal manoeuvring, and the issuance of Iranian arrest warrants and sanctions.

Can't say I'd disapprove of such a campaign so long as Bush II, Cheney, Hillary and Obama are added to the list.

Posted by: Tom_Q_Collins | Jul 16 2022 21:35 utc | 49

Second halve:

But denying Russian children that junk might be the straw that breaks NATO’s back. Not only are Russian children better off without such gruel but NATO’s other targets, China primarily, are sponging up all these experiences both big and small. China must pay particular attention to NATO’s East European machinations for not only does she share a massive 4,200 km border with Russia but China knows, should East Europe fall to NATO, she too is slotted in for a date with NATO’s butchers, who have made no secret about any of that.

If we reduce these struggles to a few basic variables, we see NATO amassing its forces on Russia’s borders, whilst Russia, China and Iran, like seasoned boxers, keep their heads down and their fists up in preparation for the slug fest coming their way. The questions then are who should prevail, BIR or NATO and what, if any, are the rules in this looming no holds barred war?

Militarily, BIR must have the edge. Russian sappers will dig in deep into Eastern Ukraine and God help any NATO lemmings sent to wrest it back from them. Economically, Germany once again needs Russian oil but, as Russia has a willing China to supply her technological needs, Germany is in for cold comfort this winter with no heat and no money to pay for it.

As is Japan, which is following the German model of fighting needless wars on two fronts with Russia’s embargoed oil to the north and China’s growing navy to the south. Still, if Japan feels self destruction is worth an American pat on the head, they should go full steam ahead into their own abyss, which Siberia’s icy winds will bring them this winter.

Although we can discount the threats of General Philip Breedlove, NATO’s former supreme commander for Europe and NATO’s other Colonel Blimps to blow the Crimean bridge for the Walter Mitty nonsense that it is, we can expect more probing, more excursions to unearth Russia’s Achilles Heels, Russia’s soft underbellies. Although Ukraine was to be that Achilles heel wedged into Russia’s underbelly, that has, alas, proved to be nothing more than an expensive NATO wet dream. Eastern Ukraine is Russia’s Toulon, L’Eguillette, “the Needle” from where Bonaparte destroyed the British Navy, liberated Toulon, secured Southern France and allowed the Armies of the French Republic to march on Cologne and the Netherlands, where they drove out the House of Orange’s Royal parasites and established the Batavian Republic.

Those were heady days we might yet relive. Although NATO‘s crackpots are ranting that conspiracy theorists (sic) are rallying behind the Dutch farmers, Canadian truckers and British trade unionists as once they rallied behind the Boer (and Irish) heroes of the Second Anglo Boer War, far more important than those empty vessels are NATO academics like Carole Nahle of Surrey University and NATO’s Middle East Institute being paid to claim that Russia is running out of gas and oil and Irish state controlled media giving her a free platform to spout her nonsense. If Russia was low on fuel, then Japan, Shell and other NATO oil companies would not have invested so heavily in extracting those phantom reserves.

That Carole Nahle is regarded as an oil expert just shows how deeply NATO is mired in the sludge Dutch farmers are lacing Dutch authorities with. Although the heads of the British and American secret services can, like drunken bar bums, issue as many threats to destroy China as they wish, and von der Leyen and NATO’s other jumped up tea ladies can make as many self enriching plans to rebuild the failed Ukrainian state as they like, reality, the same reality Napoleon’s la Grande Armée and Hitler’s Wehrmacht met in Eastern Ukraine, is the toughest of all task masters.

Germany, with Holland, has surrendered her Central Bank’s discipline to von der Leyen’s wet dreams of eternal NATO bondage, to being the toothless attack dogs for Joe and Hunter Biden, and Klaus Schwab’s other unaccountable stakeholders. As NATO piles up the children’s body bags in the Alley of the Angels, in Gaza, in Syria and Yemen, these arrogant criminals forget that the artillery men of Luhansk and Donbas also have dreams, children and long memories, the same dreams and memories that two centuries ago got the French to storm Versailles and put the fear of God into despots everywhere.

Although the Bastille and Versailles are safe for now, NATO tyrants and their flunkeys, and not just Sri Lanka’s Rajapaksas, are once again becoming fair game. Although the Dutch farmers and the Canadian truckers still lack their Napoleonic Grande Armée, they are following La Marseillaise’s calls to aux armes, citoyens! formez vos bataillons! to “Grab your weapons, citizens! Form your battalions!” so that tyrants and traitors will tremble and tumble like skittles. For me, for British trade unionists, Sri Lankans, Dutch farmers, Canadian truckers and tens of millions worldwide, the imprecations and invocations of La Marseillaise are music to my ears, just as they are warnings to Trudeau, Schwab, von der Leyen, Zelensky and Macron to beware the coming deluge their greed fomented.

I don't quite know what to make of BIR. Given the context, Bejing, Iran, Russia makes the most sense. Otherwise, Hayes spells out humanity's enemies and places them front and center while hinting at a different interpretation on what happened in response to the French Revolution that's been under the carpet for 200 years. The trend since the English Civil War is to return the Feudal-Fascists to power while putting the boot to the necks of the commonfolk again and again, most recently after WW2 as further episodes of our 4,000+ year-old Class War as We the People struggle to gain the Four Freedoms. Few know of Giambattista Vico, but his Principj di una Scienza Nuova Intorno alla Natura delle Nazioni per la Quale si Ritruovano i Principj di Altro Sistema del Diritto Naturale delle Genti was revolutionary at the time and in many respects remains so, part of which informs my theory of historicity and its cyclical yet linear nature.

Luce's American Century is in hospice. Ready to re-emerge is Wallace's Century of the Commonman as Human Capital is finally wedded to Capital so a more universal human development can proceed and displace the Creditor Oligarchy that over the centuries in its various forms has stunted and shoved commonfolk back down the stairs.

Posted by: karlof1 | Jul 16 2022 21:41 utc | 50

Posted by: Tom_Q_Collins | Jul 16 2022 21:35 utc | 48

never mind the tabloid source, this was also published by The Telegraph and National Review. Of course Iran would like to kill Trump and Pompeo but why is this "secret" coming out now? And what do they NOT say? They do NOT say that a Uki plane was shot down in Tehran and a part of Beirut was blown to pieces under one president - Trump. Just a coincidence I guess.

Posted by: Jonathan W | Jul 16 2022 21:50 utc | 51

Posted by: c1ue | Jul 16 2022 18:51 utc | 11
Essentially correct.

Unlike democratic governments, which have a time horizon limited to the 4 year election cycle, the oil majors have a time horizon best measured in decades.

They also have imposed upon them the tenets of US Securities Law under which they are legally required to conduct their operations in the best interests of their shareholders.

Spending $10's if not $100's of billions in CAPEX today when governments seek to eliminate public use of your primary product within the next ten years is not only economically foolhardy but leaves management subject to legal liability.

All the major firms are therefore responding similarly by: 1) returning cash to their shareholders who are then free to re-invest in firms with better future prospects (Tesla?) and 2) by managing their existing portfolio of projects as an annuity.

Does such conduct reduce present day FF supply? You bet.
Does it reduce future FF supply? You better believe it.
Is it the result of some nefarious corporate plan. Fuggetaboutit. It is just business. There is no animosity, no devilish intent. It is simply business.

If the people suffer to elect idiots
I'm available.

Joe Tzu

Posted by: Sushi | Jul 16 2022 21:59 utc | 52

Re: Global Debt Default

Posted by: Sushi | Jul 16 2022 21:34 utc | 47

There exists the possibility nations entering default may renounce their debt, terminate their relationship with Western nation finance, and seek to reflate their economies by partnering with BRICS or similar non-western entities. It is non-Western states which are forecast to have the greatest GDP growth.

What if...

Russia would take over responsibility for paying Third World debt? An African country, that is about to default, would negotiate a bailout with Russia. The country would promise to pay its debt in full to Russia in rubles in, say, 50 years. The Russian Central Bank would use its dollar and euro reserves to pay the original creditors.

Default, DEFAULT! the West would shout in unison. But would this not be the same kind of fake "technical default" that Russia is already accused of?

My point is this: The West cannot simply confiscate Russia's currency reserves. I they do so, it will annul all debt owned by anyone to Western banks.

Or maybe not. Legally speaking it could annul all debt. But lending is a protection racket. Legalese means nothing. What matters is military and economic power. If Russia or SCO or BRICS+ can a) protect the countries militarily, and b) provide the necessary financing and raw materials and industrial products, then no country needs to pay anything to the West.

Posted by: Petri Krohn | Jul 16 2022 22:02 utc | 53

Posted by: Jonathan W | Jul 16 2022 21:50 utc | 50

What's your take on the Ukrainian airliner "accidentally" shot down in Iran? That their air defense systems were hacked or something? That would make sense to me given all the rest of the context and ME strangeness going on when Trump was prez.

Posted by: Tom_Q_Collins | Jul 16 2022 22:02 utc | 54

What's that you say?...
Nobody ran out of oil, or gas, or gasoline, or diesel, because of (enter complicated explanation here)?...
Smashing good news...
Cheerio!...

Posted by: Josh | Jul 16 2022 22:05 utc | 55

Saudis are now buying Russian oil.
Posted by: wagelaborer | Jul 16 2022 17:52 utc | 2

Not entirely true.
The Saudi's are purchasing Bunker C, essentially the low value sludge left over after a refinery run.

They use this to power their FF extraction process which is energy intensive.

They can then sell the high quality crude they produce for more money than if they attempted to build a refinery to deliver domestic quantities of low value sludge.

It is called an economy. It functions on the basis of comparative advantage. You produce shit. I buy your shit, spread it on my fields and sell you the resulting food crop. We both win.

The US in its present insane incarnation has decided that a small group of neo-cons are better able to run a global economy than the few billion global citizens who actually know what they are doing in turning a mutual profit.

Posted by: Sushi | Jul 16 2022 22:08 utc | 56

Also worth noting that NASA and Roscosmos have reached an understanding to work together again on the ISS.

https://www.reuters.com/business/aerospace-defense/nasa-russian-space-agency-sign-deal-share-space-station-flights-roscosmos-2022-07-15/

It seems like Europe, as always, is doing all the sacrifice wrt cutting ties with Russia and the Ukraine war. (Has the US taken in any Ukrainians? Tiny Ireland is taking 50k or more despite it's housing crisis and not being in NATO) The US and Canada even took their time to match Europe's flight ban in order to spare their airlines the costs of the Russian retaliatory bans for as long as possible.

I have no doubt that if it comes to it and Russia shuts off the gas, that Europe will put up with it too.

Despite US attempts to scupper it, the legal provisions and frameworks and even structures (In the so-called 'battle groups') exist for a common EU defense pact. I have to just assume that every defense minister and half the PMs in Europe are CIA glow in the darks by now for this crisis to have led to an expansion of NATO and surrender of authority to it rather than the reverse. Imagine a Europe free to pursue a true Gaullist foreign policy. But I fear it's too late for that given the US-pushed expansion in 2004. Right now we have Poland and Lithuania trying to push the US and big NATO countries into a proxy war for them against Russia inside the larger neocon proxy war on Russia through Ukraine. Proxy war inception.

Can Moon start the intellectual campaign for an EU referendum on splitting the former Warsaw Pact countries into their own union and leave Western Europe alone?

Posted by: Altai | Jul 16 2022 22:09 utc | 57

far more important than those empty vessels are NATO academics like Carole Nahle of Surrey University and NATO’s Middle East Institute being paid to claim that Russia is running out of gas and oil and Irish state controlled media giving her a free platform to spout her nonsense.


Posted by: karlof1 | Jul 16 2022 21:41 utc | 49

Vaccous inane regurgitation of PR talking points.
Irish MSM is a collection of time serving lickspittles ready to jump on the next current thing as directed.
Pathetic nasty virtue signalling creeps.
Don't think I've left anything out.

Posted by: Jpc | Jul 16 2022 22:26 utc | 58

Biden was also probably Begging MbS not to sell to CHN in CNY.

The BRICS Membership protects KSA.

Once KSA start selling to CHN in CN¥, IND will arrange for payments in INR, then EU will ask to pay in €UR, JPN in JP¥...

Those Events freeing the Largest 11 (Nominal GDP) Economies (RUS(already free) and BRA vying for #10-#11) from Buying+Holding U$D/U$T to Pay for their Energy Imports - effectively END the PetroUSD - Kicking Off a "Gradual, then SHTF" Disruption+Diminishment Scenarios for U$D Valuations, U$T Markets, and VassalG7+SupplierColony Economies.

We don't know if it's going to be a smooth transition into the Multi-Polar/Multi-Currency World for those Outside the SCO/BRICS World - because Everyone with a Brain will try to Hedge or Dump their U$D/U$T Holdings with Gold and/or Silver. €UR+€UROBonds won't be attractive until we see Germans keeping themselves Warm for at least Winters without Deforesting themselves or burning up their Furniture.

CHN buying Petroleum from KSA (and Other GCC outside of IRN) in CN¥ should be the Inflection Event. CHN have their PetroCNY-Au-Exchange Scheme which should get a MASSIVE Increase in Petroleum-based Contracts.

There's your Weekend FearPr0n served in Certainty.

BTW, don't expect your Physical Gold+Silver to be safe - remember Murica's previous Gold-USD Defaults...

Posted by: IronForge | Jul 16 2022 22:52 utc | 59

And who has been selling billions of dollars worth of weapons and ammunitions to (human rights violating) Saudi Arabia for many, many years?

Which Gulf state hates Iran, and if there was ever a war to completely close off the gulf states, seriously cutting oil flow, who would that be?

Who funded Isis and follows the same branch of extreme Wahhabism?

I guess this is what happens when you pretend to like the leader of a country for all the oil you can get, but the same leader was never going to be your loyal ally.


Posted by: George | Jul 16 2022 22:56 utc | 60

No! "... and I predict that it will take less than four year for them to crawl to Moscow and to ask for forgiveness of their sins."
This is no option for EU-politicans. The propaganda is too powerful in between, and any turn around will result in lost of (personal) power, and that is more inportant that then question if the people will have a war winter and acceptable prices.
The only turn around which I can give a little chance is the next election, if the ppl vote to opposition. However, currently there is no opposition to see which may have the power to win and turn around.

Another thing: For me is the question how much American domestic politics the U.S. is facing a civil war, and by now 40% are in favor of dividing the U.S. in two, could determine the course of coming military activity. Especially after the coming elections.

Posted by: Peter | Jul 16 2022 22:57 utc | 61

Yasha Levine has an interesting series going on the weaponization of immigrants as a long-running US (and Canadian) policy to fight our 'ideological' enemies - and in how 'Global Jewry" get blamed coming and going. From the most recent:

In my last installment I mentioned how antisemitism can pervade Holodomor narratives: It’s the idea that Jews, in their guise as communists, organized the famine so they could depopulate Ukraine and claim the land and its riches for themselves. That’s what talk about zhydokomuna — aka “kike-communism” — is all about.

One of the things that makes the “Jews tried to genocide Ukrainians” story interesting is the more contemporary political angle. The ironic thing is that this narrative was spread around in a big way by a Ukrainian diaspora that had ended up in Europe and North America after World War II. And it started getting popularized around the same time that this community was itself trying to wiggle out of its own very well documented complicity in a genocidal campaign. A genocidal campaign against the Jews: the Holocaust. So this community pumped out narratives that denied its own participation in the Holocaust, while also blaming Jews for the Holodomor and for the brutal policies of Soviet communism. In the end, both of these made-up narratives had a dual and slightly contradictory function: it allowed Ukrainian nationalist emigres to whitewash their own genocidal history, all while also defensively justifying this history. “Hey, man. The Jews genocided us first!”

Posted by: Tom_Q_Collins | Jul 16 2022 23:09 utc | 62

G7 has nearly strangled their credibility in their sanctions vendetta.

NIKKEI | Japan tells Mitsui, Mitsubishi to hang on to Sakhalin-2 stakes

Despite the potential risks, the Japanese government wants Mitsui and Mitsubishi to maintain stakes in Sakhalin-2 for the sake of the country's energy supply. The project produces 10 million tons of LNG per year. Six million tons are shipped to Japan, accounting for around 10% of its total imports. Japan can continue to purchase LNG from the project without companies taking stakes in the new operator, as long as there are valid contracts in place. But the possibility of disruption would increase. The Japanese government has decided there is no need for companies to voluntarily forgo participation in the new Russian operator.
meaning, Japan Inc are preparing a SPAC or PIPE to stake Mitsui, Mitsubishi acquisition of Shell's PSA share
Group of Seven sanctions on Russia further complicate the situation. There is [westworld] speculation that Russia may be trying to drive a wedge between Japan and the West by ["]forcing["] Japanese companies to take a new stake in a Russian business. G-7 members are restricting new investments in Russia. Japan in particular currently bans companies from taking 10% or more ownership in a Russian business. The Japanese government plans to frame any transactions tied to Sakhalin-2's new operator [Sakhalin spin-off] as a measure to maintain existing Japanese interests in the project, rather than a fresh investment
rupee (INR) float: more info

RBI Notifies New Framework to Enable International Trade Settlement in Indian Rupee
Besides insulating RUB:INR exchange from G7 sanctions, RBI needs Mr Market demand to support sagging INR pair rates, or inflation will hammer IN external debt service into a PK position.

Posted by: sln2002 | Jul 16 2022 23:10 utc | 63

"Biden needs lower oil prices"

btw, the stronger USD purchase power (provided by FRB interest hike) lets US oil distributors by more bbl for less. Enhancing the perception at retail, $/gal is lower.

Posted by: sln2002 | Jul 16 2022 23:16 utc | 64


".....MbS should take great care of his personal security....."

megadittos on this point by b


Posted by: michaelj72 | Jul 16 2022 23:18 utc | 65

Up to now people have been pretending that the emperor has clothes on. This making light of Biden by MbS might be the end of the Biden Presidency. The Elites may conclude that Kamala Harris can read the teleprompter better than Biden, though her mental capacity is not much better.

Important to observe that the Elites like wool-headed leaders like BoJo, Liz Truss, Justin Trudeau, Ursula von L. Democracy died in the West long ago.

Posted by: Moses22 | Jul 16 2022 23:34 utc | 66

In my mind there's absolutely zero chance the Democrats win with Kamala at the helm in 2024. I wonder what's going on in their minds. One thing we can be certain of for all of the future: no election in the USA will be without its own "Big Lie" and numerous dirty tricks will be played (by both sides, but more by one) before, during and after the results are announced. Regardless, Kopmala is a dead woman walking (electorally).

Posted by: Tom_Q_Collins | Jul 16 2022 23:42 utc | 67

@65
Harris dropped out of last election cycle after realizing she was going to come in 4th or 5th in the California primary, her home state. Am expecting DNC to recruit Gavin Newsom to run in 2024. He already ran an ad in Florida challenging DeSantis policies. DeSantis may be the 2024 GOP nominee.
https://www.youtube.com/watch?v=npHzmo_gEFQ

Posted by: Joe | Jul 16 2022 23:52 utc | 68

Jimmy Dore talking to Biden on his approval ratings.
https://www.youtube.com/watch?v=CgvR0k9FDIE

Posted by: Joe | Jul 17 2022 0:10 utc | 69

Posted by: Petri Krohn | Jul 16 2022 22:02 utc | 52

Another angle on your intersting observation.
Western nations already hold several billion of RF assets. In Canada Trudeau is talking of confiscating more.

The intent is to inflict economic pain on RF and advance the agenda of the global hegemon.

RF could cover 3rd pary debt out of its stolen funds.

I think a better solution is to allow states to default to the Western nations leaving the western nations as bag holders. The defaulting nations experience a debt jubilee as Dr Hudson describes.

The BRICS, or the RF, or China could then extend financial assitance to the nations now free of their prior onerous debt load.

The world would basically cleave in half with the declining west in one part and the fast growing nations of the south and far east in the other part.

This would entail the collapse of all western dominated (read US dominated) institutions, and the creation of revitalized institutions geared to the needs of the particpating economies. Western financiers would be frozen out of these fast growing markets.

My reading of Karlof1's translation of Putin's speeches suggests this is Putin's long range goal - the recreation of the global economy on terms suited to the 60% of the global population.

Posted by: Sushi | Jul 17 2022 0:14 utc | 70

Great post. Most whites, mainly uni educated ones, view the need to virtue signal that they have the correct values as way more important than necessities and for good reason. In their daily lives they can be destroyed and ostracized for not being compliant with 100 of the required values.

On a political level, as we see with the EU, that is disaster.

It will take a lot of suffering of the managerial class for anything to change. If they succeed in keeping the suffering confined to the working class, small businesses and country people then that will encourage them to not become more practical and let the suffering continue. It all comes down to who and whom

Posted by: My Comment | Jul 17 2022 0:27 utc | 71

Sushi @ 55

To visualize bunker C it is not a liquid, is it a wet sold; basically coke. It is burned in kilns at super high temperatures and it produces prodigious amounts of steam which is run through a turbine to produce power. Lots and lots of power. Not many of these type plants left in the US.

What is left is then sold and used in industry for various uses. There is a big need for this type of carbon in industry but the greenies are killing the business. Everyone makes money on this deal but the SO2 content put into the atmosphere if not scrubbed at the stack is pretty high. Even still, some SO2 gets by the scrubbing.

Posted by: circumspect | Jul 17 2022 0:35 utc | 72

Actually I am wrong, Bunker C is a resid. It has not reached the coke state yet. It would need to be cooked a little more.

Posted by: circumspect | Jul 17 2022 0:44 utc | 73

Seems it will be Russia's defeat to the last Uke and now last EU citizen.

These people must b knee deep in piss tapes to be this inhumane

Posted by: Tannenhouser | Jul 17 2022 1:13 utc | 74

Mr. karlof #8

I appreciate your posts.

What it tells me is that USA people are completely clueless. Blue states and cities most of all. Unless those surveys are rigged.

I expect the Nov election to be rigged also.

Posted by: CitizenKayne | Jul 17 2022 1:14 utc | 75

All this fuss about the death of a proven media whore, yet virtual silence on the subject of the slow death by torture of a real journalist could be said to reveal another obvious reality which everyone chooses to ignore; that despite claims to the contrary many alleged politically aware critical thinkers are just as susceptible to the manufactured sensationalism of information dissemination as the normal humans who are so contemptuously dismissed in these pages for being ignorant & brainwashed.
No wonder an obvious astroturfer for the energy corporations finds it so easy to spread his bosses' lies here. All he has to do is spout a few obvious truisms on other subjects and many continue to cluelessly lap up his sponsored bulldust as though it were mothers milk.

Posted by: Debsisdead | Jul 17 2022 1:25 utc | 76

@Sushi | Jul 17 2022 0:14 utc | 68 with the suggestion that Russia pay off 3rd world debt with stolen funds

I have made the same suggestion that China do that with its US Treasury holdings when the music stops.

The revolution is happening as we publish our textual white noise, but don't tell anyone yet.

Posted by: psychohistorian | Jul 17 2022 1:49 utc | 77

@Sushi | Jul 17 2022 0:14 utc | 68 with the suggestion that Russia pay off 3rd world debt with stolen funds

I have made the same suggestion that China do that with its US Treasury holdings when the music stops.

The revolution is happening as we publish our textual white noise, but don't tell anyone yet.

Posted by: psychohistorian | Jul 17 2022 1:49 utc | 75


What matters is military and economic power. If Russia or SCO or BRICS+ can a) protect the countries militarily, and b) provide the necessary financing and raw materials and industrial products, then no country needs to pay anything to the West.

Posted by: Petri Krohn | Jul 16 2022 22:02 utc | 52

What bothers me about these scenarios is that the actual culprits in this divide the war with magic money schemes is that the exchange registered global monopoly powered corporations will simply adopt the winning scheme, and survive un-scratched while the people on the losing half of the division of the nation state controlled world will suffer for the rest of the lives and the lives of their children.

Never ever have you folks pointed to the real cause of this turmoil.. <= monopoly powers in private hands and their use of the nation states to accomplish their profit making schemes.

Unless monopoly powers are eliminated it will be more of the same. forever.

Posted by: snake | Jul 17 2022 2:59 utc | 78

In response to
"
Never ever have you folks pointed to the real cause of this turmoil.. <= monopoly powers in private hands and their use of the nation states to accomplish their profit making schemes.

Unless monopoly powers are eliminated it will be more of the same. forever.

Posted by: snake | Jul 17 2022 2:59 utc | 76
"

You know I have consistently ranted about ending the private monopoly power of private finance which in my mind ends all "sub-types" of monopoly.

Listen to the latest interview with Michael Hudson where he discusses how China is dealing with capital accumulation...
https://youtu.be/nAyRn5TcfTU

Posted by: psychohistorian | Jul 17 2022 3:16 utc | 79

I still haven’t figured out how to reply to posts but for those that have asked, here is the 9/11 victim’s lawyer talking about Khashoggi

https://youtu.be/6nnz0YRy6So?t=1260

Posted by: Ken | Jul 17 2022 3:29 utc | 80

Oh, I remember that event and those days.
The media, and the people at my local pub were up in arms.
How dare he! And Trump is friends with this guy?

Unfortunately, I was not prescient enough to point out that MAYBE, SOMEDAY,
a democrat president would have to go hat in hand to MBS, and ask for more oil.

Alas, it’s spilled milk.
There will be no harrumphing and I told you so’s at my pub.
Those days are gone.
Evaporated into the memory of a culture,
that thrives on outrage.

Posted by: Cadence Calls | Jul 17 2022 3:29 utc | 81

Ken | Jul 17 2022 3:29 utc | 78
Welcome Ken.
Replying to posts is laborious….but it does tend to eventually weed the trolls.
1. Copy the poster’s name and timestamp [Important, as posts can and are deleted, fucking up the numbering…if you can’t find a post by its number, you might by its timestamp]
2. Paste this into a typepad or text editor. [Important, as the most erudite posts are always the ones that get fucked with and are lost when hitting “send”]
3. Type your reply. Edit. [Important, as typos or similarly unedited text can earn you a reprimand.](Although the most irascible regarding this seems to have left the bar, or is no longer a regular).
4. Refresh the page [Important to reduce the (many) problems with submitting]
5. Post away.
6. Small tip, post sauce in first post. [Important, as this reduces thread clutter from multiple and repeated requests for sauce].
7. Do. Not.Feed. The. Trolls. [Important.]

Posted by: Melaleuca | Jul 17 2022 4:34 utc | 82

Below is the latest from Pepe with the link to The Cradle hosting being the last sentence of his posting

Welcome to the new Eurasian mantra: Make Economic Corridors, Not War.

The dog barked, the (r)evolution happened and the caravan rolled on.

Posted by: psychohistorian | Jul 17 2022 4:44 utc | 83

Saudis will stay quiet come October when Russians will announce a total ban on sale of oil and gas to the West. This is to counter the demand destruction trend and cause the spike in price of oil just before the US elections. This is to make sure democrats loose both The House and The Senat. This will be only a temporary measure and oil and gas deliveries to Europe will resume before the winter.

Posted by: Milos | Jul 17 2022 4:54 utc | 84

gryphon #25.

Good points mentioned all round.

Not quite. The land is only Saudi Arabia’s due to the Vienna Convention when the nation has “good behaviour “ status . Crimes like murder in an embassy are not covered , so are still illegal in the host country. Turkey can legally investigate , try and jail /execute the guilty party and Erdo of course threatened that . Political reasons ensured he went soft on MBS and Saud.

This is how the UK “legally “ was able to storm the Ecuadorian Embassy to kidnap Assange. It wasn’t just that the Ecuadorian government caved in.

Posted by: Brother Ma | Jul 17 2022 5:00 utc | 85

Khashoggi
Was a contemporary of Osama bin Larden when both were CIA assets opposing the Soviets in Afghanistan. There’s photos of OBL and Khashoggi together at that time.

Opport Knocks | Jul 16 2022 19:24 utc | 14
>Doubts the Muslim Brotherhood angle.
>Sigh. Pls do more research before posting

Ken | Jul 16 2022 19:53 utc | + [circumspect | Jul 16 2022 20:12 utc | 27]
The lawyer representing the 9/11 families suing Saudi Arabia says Khashoggi was starting to talk to their team and was killed by Saudi Arabia because of it.
>Well. If there was *anyone* who could pull on a thread and unravel the CIA and Brzezinski’s “Afghan-Arabs” and associated adventures in 1980s Soviet~Afghanistan through to the Mujahideen, al quad-a, OBL, Bush-Cheney 41+43, 9/11 and ISIS, (to name just a few ingredients in the subterfuge soup) …. It’d be Jamal Khashoggi.


Tom_Q_Collins | Jul 16 2022 21:02 utc | 40
This theory amalgam misses the long-standing connection between Khashoggi and OBL.

Tom wants saucesaucesauce. …
Here’s sauce. [I put “Khashoggi and Osama bin Laden” in a search engine and opened the “images” tab. Try it yourself…]
Not all of what I found is accurate. Not all is comprehensive. But there’s plenty of pieces for an interesting #glowing jigsaw….
https://biographied.com/jamal-khashoggi/
[skips the juiciest, but is useful for the extended family, and that the family has been (obvious as in “when you know, you know”) British agents for generations, right back to “Lawrence of Arabia”](The British installation of the Saud tribe as “rulers” of *Arabia*)
https://www.nytimes.com/es/2018/10/15/espanol/jamal-khashoggi-arabia-saudita.html
[Nice pic of Khashoggi armed in Afghanistan in the 80s.](I think the English version of this article has been scrubbed).
http://worldwarthird.com/index.php/2018/11/28/journalist-khashoggi-saudi-links-muslim-brotherhood-osama-bin-laden/
> Dead Journalist Jamal Khashoggi had links with Osama bin Laden and extremist Muslim Brotherhood [Inb4:Sauce not *mainstream*… neither is MoA, which is why this site is disparaged despite its validity]
https://thefederalistpapers.org/opinion/democrat-media-hero-khashoggi-friend-bin-laden-book-says
>Democrat, Media Hero Khashoggi Was Friend Of Bin Laden, Book Says
Extract:

An Arab expert in Jihadist issues, who wished to remain anonymous, said that “Jamal Khashoggi keeps forgetting that the participation of Arab Mujahedeen next to the Afghani Mujahedeen was just part of a game controlled by the CIA from beginning to end.”
Our source went on to say: “Jamal Khashoggi was in the end an intelligence agent in journalist clothes. If he’s not found alive, he would be the victim of a game where journalism and intelligence services are all mixed up and which he had never imagined that one day it would turn against him. Usually in these kinds of games, any foreign party can come into the game at the opportune moment to settle certain scores with a certain party. This time, it looks like it is the Kingdom of Saudi Arabia.”

https://sg.news.yahoo.com/i-just-fell-apart-crying-heartbreak-to-you-a-murdered-journalists-yearslong-relationship-with-osama-bin-laden-090022641.html?guccounter=1
……”A murdered journalist's years-long relationship with Osama bin Laden”
Extract:

………For Jamal Khashoggi, it was the chance of a lifetime. Throughout the 1980s, Arab fighters were flocking to Afghanistan to wage war against the Soviet army. Khashoggi, then a young reporter, was offered a world exclusive — to cover the conflict and get rare access to the frontlines.
The man who invited him: a fellow Saudi who was then his good friend, Osama bin Laden.
…………Arab youths fight shoulder to shoulder with Mujahedeen,” read the headline on one of Khashoggi’s stories in the English-language Arab News that ran on May 4, 1988
………And illustrating the article, next to a photo of bin Laden, was a picture of a smiling Khashoggi, carrying on his shoulder a rocket-propelled grenade launcher.

.

That *should* be enough sauce…even for Tom Q.
[It’s Sunday, and I am amusing myself with the thought it was a Thomas who demanded “sauce” from Jesus….if I recall correctly from Sunday school all these decades later]

Posted by: Melaleuca | Jul 17 2022 5:01 utc | 86

Brother Ma | Jul 17 2022 5:00 utc | 83
It’s always salutary to put Assange and Khashoggi in the same sentence.
Likely many who wailed at Jamal’s demise would happily take a bonesaw to Julian…

Posted by: Melaleuca | Jul 17 2022 5:06 utc | 87

Indicates that world Premiership seat of US is how much helpless, so that president openly kneeled in front of a infamous killer and established constitutionally US is a criminal state. This visit will surely cause US's lose of arguable convenience to confront Russ Chinese war diplomacy.

Posted by: Alhajjfazlur Rahman | Jul 17 2022 5:09 utc | 88

Sushi @68--

Thanks for your comments! Not just Putin but Xi too, and a host of others.

Posted by: karlof1 | Jul 17 2022 5:19 utc | 89

Posted by: Opport Knocks | Jul 16 2022 19:24 utc | 14
---------

Khashoggi being WaPo's columnist tells all. It was just a cover...
Well, bin Laden was also a Saudi...
There's also something called Taqiyya...😏

Posted by: ostro | Jul 17 2022 6:08 utc | 90

But lending is a protection racket. Legalese means nothing. What matters is military and economic power. If Russia or SCO or BRICS+ can a) protect the countries militarily, and b) provide the necessary financing and raw materials and industrial products, then no country needs to pay anything to the West.

Posted by: Petri Krohn | Jul 16 2022 22:02 utc | 52
--------------

There you are!
Russia and China can protect countries, militarily and economically, where the US can't. The Global South doesn't trust the US, and knows that the US is there to leech. Russia (and China) might tell (unofficially) the Global South not to pay any "western" debts at all...

Posted by: ostro | Jul 17 2022 6:09 utc | 91

Another thing: For me is the question how much American domestic politics the U.S. is facing a civil war, and by now 40% are in favor of dividing the U.S. in two, could determine the course of coming military activity. Especially after the coming elections.

Posted by: Peter | Jul 16 2022 22:57 utc | 60
----------

The US will break into four or five, rather than 2 parts...😏

Posted by: ostro | Jul 17 2022 6:10 utc | 92

Antonov Crash in Kavala: It Carried 12 Tons of Ammunition – Fireworks on site

With the help of drones was checked the point crash in order to determine if other flammable material is present.

It has been given strong recommendation Residents should not approach the area, keep doors and windows closed, not even use their air conditioners, until there is a safe assessment of possible air contamination from the aircraft materials.

At the same time, the evacuation of Antiphilippi is also being considered, due to fears of explosions.

It is indicative that even the rescuers, members of EMAK, have not approached the point closer than the 50 meters, where they spotted a White substance which causes burn in the eyes and lips of those who approach her.

There is a lot of material from the aircraft scattered at fields the Fire Department coordinator said to ERT, in the morning, while noting that “we felt a burn at lips».

On point too there is heat while the measurements for radioactivity they did not show anything alarming according to him.

https://hellas.postsen.com/news/50464/Antonov-Crash-in-Kavala-It-Carried-12-Tons-of-Ammunition-%E2%80%93-Fireworks-on-site.html

At the same time, area is blocked at 500 meters.

Posted by: ostro | Jul 17 2022 6:21 utc | 93

@ Sushi | Jul 16 2022 21:34 utc | 47
@ Petri

Been thinking this too!

BTW, as for “defaults”, be they “technical” or otherwise, it looks to me that USA defaulted.

Arbitrarily “freezing” assets = non-payment of monies due = default

In this case, the monies are due at the behest of the depositors (Russia, Venezuela, etc.). USA non-payment is default on deposits.

They might claim “oh, we have the ability to pay, but choose not to”. That’s a worse excuse. That excuse would make Charles Ponzi blush.

As is typical of entities that default, other than its subordinates in captive “markets”, who willingly lends money to USA now? BRICs selling off their UST is a very slowmo bank run.

We’ll see how long this interest rate spike and USD strength endure. After it, could be a deluge.

Posted by: dfg | Jul 17 2022 6:31 utc | 94

Posted by: Debsisdead | Jul 17 2022 1:25 utc | 74

...
No wonder an obvious astroturfer for the energy corporations finds it so easy to spread his bosses' lies here.
All he has to do is spout a few obvious truisms on other subjects and many continue to cluelessly lap up
his sponsored bulldust as though it were mothers milk.


A gem of a post! Sadly however, it will sail right past most of the commenters - (not the part about
the 'proven media whore' but the part about the 'obvious astroturfer').
Thanks Debsisdead! Stick around, you and RSH are appreciated for your insights.

Posted by: waynorinorway | Jul 17 2022 6:36 utc | 95

@My Comment | Jul 17 2022 0:27 utc | 69

Very good insight, thanks.

Posted by: Norwegian | Jul 17 2022 6:53 utc | 96

NEW: After POTUS departed Saudi Arabia on AF1, Saudi FM Adel al-Jubeir called my colleague @AlexHoganTV back for a 2nd interview - even though Fox interviewed him yday.

He pointedly claimed he “did not hear” Biden tell MBS he believed he was responsible for Khashoggi’s murder

@JacquiHeinrich Twitter

Biden had been lying...😏

Posted by: ostro | Jul 17 2022 6:59 utc | 97

Once again, a simple breakdown of the facts:

1. Arabia promised to increase production?

The maximum production capacity will be increased to 13 million barrels per day.
The maximum production capacity currently stands at 12 million barrels per day.

Therefore, the increase will be 1 million.

How soon will this happen?

Possible timeframe for raising maximum production capacity to 13 million barrels per day is 2027.

2. And now the most interesting:
even now, the real volume of Saudi oil production lags behind the maximum, instead of 12 it is 10 million barrels per day.

Posted by: ostro | Jul 17 2022 7:00 utc | 98

Regarding fear of more Oceania defaults (e.g., arbitrarily refusing to repay deposits), I suggest remembering that fiat is part of an accounting model but not itself real. It would be worse if Oceania stole 300b worth of something real, like 300b of actual grain.

So far, this has been a relatively cheap lesson for Russia and the RoW.

There’s a risk Oceania can translate its default on fiat into a gain of tangible items. It can succeed by keeping enough people in its financial system, because their participation “makes the numbers real”. The RoW better realize that leaving that system now is their best and perhaps only chance for freedom.

Posted by: dfg | Jul 17 2022 7:12 utc | 99

Posted by: ostro | Jul 17 2022 6:21 utc | 91

This is not going to score many browny points for Vučić with Putin.

Posted by: Milos | Jul 17 2022 7:39 utc | 100

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