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Economic Alert: Oil Headed for a New Bottom While US Gov Manipulates the Economy in Time for the Elections (Videos)

Sunday, November 6, 2016 10:47
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(Before It's News)

 

November 06 2016

 

The value of Egypt’s currency takes a major plunge bringing it to 13 pounds on the dollar. Ameera David has the details. Then, Bianca Facchinei takes a look at the current decline in illegal immigration as accounted for in the US workforce. After that, RT Correspondent, Anya Parampil takes a look at Chinese spending and their recent $1 billion purchase of Dick Clark Productions.

Following the break, Rick Rule, president and CEO of Sprott US Holdings Inc., talks gold, oil, and silver, and what this means for the dollar. And finally, in The Big Deal, Edward Harrison examines employment rates, breaking down what full employment looks like.

 


From Economic Collapse 2016

US Government Manipulates The Economy Just In Time For The Election

The Petro Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency James Rickards

Source:

Oil price keeps falling after more bearish supply data

Brent Crude and West Texas Intermediate sink back as hopes fade of Opec deal on production cuts

The oil price dropped sharply again on Thursday, revisiting lows not seen for more than a month.

Global benchmark Brent crude fell more than one per cent and at one point dipped below $46 a barrel, while its US counterpart, West Texas Intermediate, sunk 1.5 per cent to settle at $44.66, its weakest close in five weeks.

Both are back below their levels of 28 September, the day the 14-nation Opec cartel announced a shock supply cut that sent oil on a prolonged rally. Brent reached a 2016 high of $54 a barrel in mid-October.

Sentiment has turned since a spate of bearish data on oil reserves in the US, which is fuelling fears that we have not seen the end of a global supply glut that has persisted for more than two years.

This week, private sector data suggesting that US crude stockpiles had grown by nine million barrels in seven days was followed by a more comprehensive official report, described as the “most bearish report of all time”, putting the figure at a record 14 million barrels. 

Yesterday, new figures revealed oil reserves at the main US delivery hub in Cushing, Oklahoma, grew by 1.2 million barrels last week, says Reuters.


 
#beforeitsnews #jonathanlee #alternativenews #agendachaos #politicalbombshell 
 
#economy #money #finance #deevaluation #gold #preciousmetals #bank #economiccollapse #globaleconomy #oneworldcurrency #trends #cyberattack 

#economy #money #finance #deevaluation #gold #preciousmetals #bank #economiccollapse #globaleconomy #oneworldcurrency #trends #cyberattack 

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