Back on November 12th, Zero Hedge told us about something very strange that was taking place off of the coast of Galveston, Texas with a 2-mile long line of tankers full of crude oil heading from Iraq to the US and what was being called ‘a gargantuan glut‘ as stockpiles keep rising around the world.
We’ve since learned from Reuters that 3 diesel tankers on their way from the US to Europe have been required to turn around, one only 800 miles off of the coast of Portugal, and return to the US as Europe’s storage was nearly filled to the brim as the oil sector is looking at massive downsizing and ‘acute pain for the holidays’. From Zero Hedge.:
In the latest sign that the world is simply running out of capacity when it comes to coping with an inexorable supply of commodities, three diesel tankers en route from the Gulf to Europe did something rather odd on Wednesday: they stopped, turned around in the middle of the ocean, and headed back the way they came!
“At least three 37,000 tonne tankers – Vendome Street, Atlantic Star and Atlantic Titan – have made U-turns in the Atlantic ocean in recent days and are now heading back west,” Reuters reported, citing its own tracking data.
The problem: low prices, no storage capacity, and soft demand.
With more than a full days worth of global oil supply now stuck in limbo and the price of oil continuing to plummet, we need to look back at previous warnings that have been given by experts, including Russian President Vladimir Putin, of what signs we need to watch out for of impending doom in the financial markets and in this week alone, we’ve seen two of them come to fruition before our very eyes.
In a speech in 2014, Putin warned the world of ‘terrifying consequences’ if oil fell below $40 a barrel, a sentiment echoed by investor Jeffrey Gundlach a short time later, who stated: “I hope it does not go to $40 because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be – to put it bluntly – terrifying.”
With the price of crude currently sitting at $34.97 a barrel, we saw another sign of imminent financial doom this week in Janet Yellin’s raising of the interest rate at the FED. We’ve also reported several times that a rise in the interest rates would likely be a signal to the rest of the nwo scum that all hell is preparing to break loose with a series of devastating events leading to the collapse of the big banks and the coming death of money.
Susan Duclos told us on December 8th about a warning given by Peter Schiff that the FED could soon trigger a $9 trillion dollar debt implosion by raising interest rates by even as much as .3 to .5%. On Wednesday, Janet Yellin raised interest rates from .25 to .50%. Susan Duclos reminded us back on the 8th what this all means.:
If you think this is just fear mongering, you’re mistaken. The Treasury Dept. issued emergency kits to employees a few months ago in anticipation of systemic volatility during the rate hike. Similarly, the Fed boosted the size of its market operations department in Chicago case the NY Fed loses control of the system when rates increase.
In short, we could very well be on the eve of another systemic crisis. The financial elites have been preparing for this for months.This is what the elites have been preparing for, all those indicators of buying up “remote hideouts, and the “panicked super-rich arranging bolt holes with private airstrips” to escape social unrest that will follow a complete crash.
Back in November, the logjam off of the coast of Texas left 40 tankers with a combined capacity of 28.4 million barrels of oil just waiting to anchor as seen in the photograph below showing off of the coast of Texas. As we were told by back in late 2014 by Putin, the price of oil falling below $40 a gallon was a sign that the bottom was getting ready to drop out.
In the 1st video below, Dave with the X22Report tells us why the FED rate hike will likely lead to the next phase of the economic collapse while in the 2nd video, Peter Schiff tells us Janet Yellin gets nuts.
The 3rd video is the previous warning from back in January 2015 that if oil fell to below $40 a barrel, there would be terrifying consequences for the world. With oil now more than $5 a barrel below $40, we have to ask, have we now reached that point in time previously warned of by Putin and others? Is $20 oil coming as suggested in the final video from Crush The Street and would that lead to the break in gold and silver as they suggest here?
With the plunge protection team in continuous use in America attempting to magically prop up our economy and stock markets, we realize they could drag this on for a long time – however, doing so would not allow them to stick their ‘new world order’ beast system into place. We fully expect this broken system is running out time.
The charts above videos, at the top of the story and below are courtesy of Marine Traffic. Below is the path of Atlantic Titan.
Written by Stefan Stanford
All News Pipeline