Commodities Collapsed Just Before The Last Stock Market Crash – So Guess What Is Happening Right Now?
The commodities rout that’s pushed prices to a 13-year lowpulled some of the biggest mining and energy companies below levels seen during the financial crisis.The FTSE 350 Mining Index plunged as much as 4.9 percent to the lowest since 2009 on Wednesday, with BHP Billiton Ltd. and Anglo American Plc leading declines. Gold and copper are near the lowest in at least five years, while crude oil retreated to $50 a barrel.“This commodity bear market is like a train wreck in slow motion,” said Andy Pfaff, the chief investment officer for commodities at MitonOptimal in Cape Town. “It has a lot of momentum and doesn’t come to a sudden stop.”
We now see that the Australian dollar is at a six-year low against the U.S. dollar. What are Australia’s biggest exports? How about iron-ore and other metals.If we look at Canada, their currency is also now at a six-year low vs the U.S. dollar. Well, Canada is a big oil exporter, particularly some tar sands oil, which is expensive to produce.We also now have the Brazilian real at a 10-year low vs the U.S. dollar. Why? Because it’s a natural resource rich country and they don’t have a strong market to sell their natural resources to.Meanwhile, the Indian rupee is at a 17-year low vs the U.S. dollar. This is because manufacturing is slowing down and there is less development. If the Americans aren’t buying, the Indians, the Chinese, the Vietnamese — they’re not making things.
The U.S. stock market could “easily” drop 20 percent to 40 percent, closely followed contrarian Marc Faber said Wednesday—citing a host of factors including the growing list of companies trading below their 200-day moving average.In recent days, “there were [also] more declining than advancing stocks, and the list of 12-month new lows was very high on Friday,” the publisher of The Gloom, Boom & Doom Report told CNBC’s “Squawk Box.”“It shows you a lot of stocks are already declining.”
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Source: http://nunezreport.blogspot.com/2015/07/commodities-collapsed-just-before-last.html
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James 5
1 Come now, you rich, weep and howl for the miseries that are coming upon you.
2 Your riches have rotted and your garments are moth-eaten.
3 Your gold and silver have corroded, and their corrosion will be evidence against you and will eat your flesh like fire. You have laid up treasure in the last days.
4 Behold, the wages of the laborers who mowed your fields, which you kept back by fraud, are crying out against you, and the cries of the harvesters have reached the ears of the Lord of hosts.
5 You have lived on the earth in luxury and in self-indulgence. You have fattened your hearts in a day of slaughter.
6 You have condemned and murdered the righteous person. He does not resist you.
7 Be patient, therefore, brothers, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, being patient about it, until it receives the early and the late rains.
8 You also, be patient. Establish your hearts, for the coming of the Lord is at hand.
The Money ~ Hot Enemy
Money Antic ~ O My! Ancient
Antic Monies ~ I’m Nice as Not