Obscurum per obscurius...

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"World Trade Collapses in Dollars, Languishes in Volume" by Wolf Richter (on Wolf Street). "World trade in goods is just one factor in the global economy..." but is currently at its lowest level in a decade. 

Obscurum per obscurius...

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"World Trade Collapses in Dollars, Languishes in Volume" by Wolf Richter (on Wolf Street). "World trade in goods is just one factor in the global economy..." but is currently at its lowest level in a decade. 

Orinoco opportunity...

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What a state of affairs: toilet paper so scarce and expensive you could use use money to wipe your arse? Not quite, as Tim Worstall explains; however - and more interestingly - he also mentions how making money (i.e. the act of making money) loses money, or that you can make money (make a profit) by selling paper money and buying coins. It certainly isn't the first time either of those things has happened but it could be happening now in Venezuela, hypothetically.

"A country really has come to something when robbing banks isn't the way to make money. Instead, go and make change at the bank is. Swap paper money for metal money and make a 2,000 percent profit by melting it down"... ..." You can walk into a bank in Venezuela with $300 worth of banknotes and someone will give you $7,000 worth of metal. Assuming they will make change for you, of course. And who would rob banks when this is true, when such profits are available entirely legally?"

I'll tell you how it goes :-)

Orinoco opportunity...

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What a state of affairs: toilet paper so scarce and expensive you could use use money to wipe your arse? Not quite, as Tim Worstall explains; however - and more interestingly - he also mentions how making money (i.e. the act of making money) loses money, or that you can make money (make a profit) by selling paper money and buying coins. It certainly isn't the first time either of those things has happened but it could be happening now in Venezuela, hypothetically.

"A country really has come to something when robbing banks isn't the way to make money. Instead, go and make change at the bank is. Swap paper money for metal money and make a 2,000 percent profit by melting it down"... ..." You can walk into a bank in Venezuela with $300 worth of banknotes and someone will give you $7,000 worth of metal. Assuming they will make change for you, of course. And who would rob banks when this is true, when such profits are available entirely legally?"

I'll tell you how it goes :-)

Outbreak of oil odium...

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Very interesting self explanatory graph on the left (click to enlarge). Oil price control 'gloves are off' and the price has 'collapsed' losing 20% since the summer as Saudi strategy changes and a fight for market share ensues..."That means there is not an immediate floor on oil prices"...as if we needed anything else to worry about!




The OPEC 'split'  belies the fact that this is relatively minor on a historical scale and dropping to 60 or 70 would be the real worry but the fact that so many countries 'need' the price over USD100 a barrel is a worry in itself. 

Outbreak of oil odium...

---

Very interesting self explanatory graph on the left (click to enlarge). Oil price control 'gloves are off' and the price has 'collapsed' losing 20% since the summer as Saudi strategy changes and a fight for market share ensues..."That means there is not an immediate floor on oil prices"...as if we needed anything else to worry about!

The OPEC 'split'  belies the fact that this is relatively minor on a historical scale and dropping to 60 or 70 would be the real worry but the fact that so many countries 'need' the price over USD100 a barrel is a worry in itself.