****Breaking**** I Believe the Financial Reset, May be Happening!! Right before Our Eyes

Oil Continues To Drop!!!

Oil Seen Dropping to $55 Next Week as Price Rout Deepens

By Moming Zhou and Lynn Doan  Dec 12, 2014 3:38 PM CT 

Benchmark U.S. oil prices are poised to test $55 a barrel after a six-month rout pushed crude to the lowest in five years.

West Texas Intermediate crude ended below $58 today for the first time since May 2009 after the International Energy Agency cut its global demand forecast for the fourth time in five months. Prices are down 46 percent from this year’s highest close of $107.26 on June 20.

“By taking out $58, oil is moving towards the next target $55,” said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. “It’s such an emotional selloff, and the even numbers are going to be the magic numbers.”

WTI for January delivery dropped $2.14, or 3.6 percent, to $57.81 a barrel today on the New York Mercantile Exchange. Brent slid $1.83 to $61.85 on the London-based ICE Futures Europe exchange, the lowest since July 2009.

Both benchmarks have collapsed about 20 percent since Nov. 26, the day before the Organization of Petroleum Exporting Countries agreed to leave its production limit unchanged at 30 million barrels a day. U.S. output, already at a three-decade high, will continue to rise in 2015, according to the IEA. The Paris-based agency reduced its estimate for oil demand growth in 2015 by 230,000 barrels a day.

Photographer: Goh Seng Chong/Bloomberg

Ian Taylor, president and chief executive officer of Vitol Group, said Low oil prices... Read More

“We could definitely see $55 next week,” said Tariq Zahir, a New York-based commodity fund manager at Tyche Capital Advisors. “We are probably going to see some violent trading.”

‘Drifting Down’

Skip York, a Houston-based vice president of energy research at Wood Mackenzie Ltd., said the next price target is $45.

“The market hasn’t seen the response they’re looking for on the supply side yet,” York said. “We’re now in this environment where I think prices are going to keep drifting down until the market is convinced, until the signal that production growth needs to slow has been received and acted on by operators.”

Traders will be monitoring drillers’ fourth-quarter earnings statements and listening in on their earnings calls next month to gauge how much production growth will slow, York said. Wells with higher operating costs come under pressure at $45 oil, he said.

Low oil prices may slow U.S. shale production, Ian Taylor, chief executive officer of Vitol Group, said in an interview yesterday at the Platts Global Energy Outlook Forum.

U.S. oil drillers idled the most rigs in almost two years this week. Rigs targeting oil dropped by 29 to 1,546, the lowest level since June and the biggest decline since December 2012, Baker Hughes Inc. (BHI) said on its website today.

To contact the reporters on this story: Moming Zhou in New York at mzhou29@bloomberg.net; Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.netStephen Cunningham, Bill Banker

Automobile Gas Going Down!!! thats good for The People!!, I 

almost filled up my tank yesterday with a 20.00 bill.

The Russian Rubble crashing, just today December 16 2914

Here's Why the Russian Ruble Is Collapsing

By Natalie Kitroeff and Joe Weisenthal December 16, 2014

The Russian economy has been in trouble for months, but last night, things got absurdly bad. The value of the ruble dropped as much as 19 percent in the last 24 hours, the worst single-day drop for the ruble in 16 years. Now Russians are reportedly bum-rushing malls to swap cash for washing machines, TVs, or laptops—anything that seems as if it might hold value better than paper money, whose worth is evaporating in real time. The political and economic forces sending Russia into a downward spiral are complex. Here's what you need to know. 

Russia's economy has been hurt by two big things: the falling price of oil and economic sanctions. (Remember Crimea?) The oil and gas industry generates about half of Russia's revenue, so when a combination of the shale boom in the U.S. and weaker demand worldwide pushed the price from $110 per barrel earlier this year to $60, Russia got hammered. The sanctions imposed by Europe and the U.S., designed to punish Russia's companies for President Vladimir Putin's actions in Ukraine, have hurt, too. 

But why is this happening right now? What changed on Monday?

What we're seeing in recent days resembles full-blown panic. There's nothing really new. At this point, it's about psychology: Fear has taken over, and there's clearly a rush on the part of traders and investors to get their money out of Russian assets. We're seeing a run on the entire country. 

Shouldn't the Kremlin be doing something? 

It is. Russia's Central Bank has been trying to fight this trend, first by using its stockpile of foreign currencies to go out into the market and buy rubles, hoping to prop up the price. Then, early in the morning on Tuesday in Moscow, the Central Bank announced a gigantic interest rate increase. The idea is that if you offer people higher interest rates, they're more likely to keep their money in rubles. 

Neither move has worked. Fears surrounding the Russian economy have taken over. Even dramatically higher interest rates can't convince people to keep their money in rubles.

What’s the best-case scenario for Russians right now?

In an ideal world, Putin would see that his economy is crumbling (the weakening currency and surging interest rates make for a deadly combination of economic contraction and rampant inflation) and take steps to convince Europe and the U.S. to ease the sanctions. That would probably be enough to stem the panic and also offer real economic benefit. To do that, he'd have to dramatically pull back  activity in Ukraine; frankly, that's extremely unlikely. Putin's adventures in Ukraine are very popular in Russia, and that's the one thing he has going for him.  

Worst case scenario? Are we there yet?

Out-and-out economic collapse and hyperinflation. It's frightening to think what Putin might do in response to that, but the big fear is that he will become even more aggressive on the geopolitical front to persuade his people that Russia's problems are being caused by an outside enemy and that the time is now to stand up militarily.

Silver lining: Caviar's going to get really cheap, right? 
Nope. Because of overfishing, there has been a ban on wild black caviar in Russia since 2007. Almost all caviar is now farmed, and it's imported from California, Japan, and other places. Vodka isn't getting cheaper, either: The international brand of Stoli is bottled in Luxembourg by SPI Group, Smirnoff is owned by Diageo, and almost all the brands you think of as Russian are owned by international conglomerates that are doing just fine.  

Years Ago, a Wise man taught me when you see Russian

 money Crashing, the federal reserve system is infiltrated 

internationally!!, and it will start in Russia, around two weeks

 later, you will see USA crashing. So lets hope this is Our 

Reset of the Financial system, leaving the federal reserve

 bank behind and going back to Gold backed, Real Treasury

 Dollars, something JFK got murdered for trying to introduce.

 Then the IRS will not be too far behind from collapsing and

 going away!! that Alone will be Awesome for the People. No

 more taxes, except of what we spend money for. Also those

 who have invested in international currency, lets hope the

 Reset does not forget us!!! then We can Really start

 Running in Creating Our New World of Peace, Unity,

 Cooperation, Justice. Keep Your Eyes Opened. Blessings of

 Love Peace and JOY turning to Bliss!!! to your and your

 Family, this Christmass Season. elizabeth Diamond.