What Do you see happening Monday morning with the stock market/ crude oil ?

[Doug]

I don't think it is going to be pretty !

 

[MrBetitall]

minimum 20 % drop in S&P 500, dollar index is going to melt down as the extent of #TrumpVirus becomes clear to the rest of the world, bonds will rally, gold will skyrocket and Oil will fall 10 to 20pc more

 

[Doug]

so then $20 oil and $2,000 gold ?

 

[SmallDaddy]

XOM is looking soooooo juicy, but I just know that the divvy will be cut VERY shortly.

(got burned in the past chasing divvy's)

But I dont see how I can lay off that fat of a pitch

 

[MrBetitall]

so then $20 oil and $2,000 gold ?

Definitely in that direction. Once #TrumpVirus gets completely out of control I think Gold will be king as fiat currencies will be worthless. Oil demand plus the Saudi price war shock could bring the ppb below USD 10 per barrel at least temporarily. Fracking is done for the foreseeable future, Texas will be bankrupt and unemployment in the US is going to >25%, depression numbers. It's going to be ugly

 

[Enfuego]

so then $20 oil and $2,000 gold ?

Doug, don't listen to this guy when it comes to anything related to this situation.

 

[MrBetitall]

so then $20 oil and $2,000 gold ?

Doug, don't pay any heed to this Enfreako whackjob. He's a known shit disturber, a civil servant and knows zero about capital markets

 

[michael777]

Doug, don't listen to this guy when it comes to anything related to this situation.

Mr. is the dumbest guy in the world

 

[SmallDaddy]

Gold aint going to $2000 if the market drops.

 

[SmallDaddy]

for the simple reason that many buy stocks by borrowing/leverage.

And many times they have to raise cash aka sell gold to settle their losing positions.

 

[SmallDaddy]

Definitely in that direction. Once #TrumpVirus gets completely out of control I think Gold will be king as fiat currencies will be worthless. Oil demand plus the Saudi price war shock could bring the ppb below USD 10 per barrel at least temporarily. Fracking is done for the foreseeable future, Texas will be bankrupt and unemployment in the US is going to >25%, depression numbers. It's going to be ugly

Dont listen to the Peter Schiff types. They are idiots/ one trick ponies.

Cash is the only king in tough times (deflationary times)-- certainly not the Barbaric relic.

 

[Doug]

I don't see Gold going way up, I don't think people value it as highly as they once did, it's not really needed for anything but jewelry and locking away in a vault of some sort.

oil is more interesting

I pulled up a 70 year history on it

22.43 now

22.50 in 6/1998

$152 in 5/2008

it's cheaper now than it was in 11/ 1947, or anytime since when it was 23.18

sounds good but it is very bad !

 

[SmallDaddy]

funny thing is how about 10 years ago they were telling us that oil companies couldnt make it under $90 bucks a barrel anymore. LOL

 

[PatsFan1283]

Peter Schiff very good listen, you don’t have to agree with every single thing he says but he knows more about finance and economics than most of the talking heads or market people they put on TV.

People could certainly use an education in Austrian economics.

Why is he an idiot? Because he thinks you can’t print your way to prosperity?

 

[SmallDaddy]

Follow his advice and you will definitely under perform the market, probably even lose money

 

[PatsFan1283]

So people should own 0 gold? A 5-10% allocation is stupid? Lol ok.

Everyone should make their own decisions but I’ve learned a lot from him and I’d have no hesitation saying that. You can continue to trust central bankers and permabulls if you want.

 

[X-Files]

I don't see Gold going way up, I don't think people value it as highly as they once did, it's not really needed for anything but jewelry and locking away in a vault of some sort.

oil is more interesting

I pulled up a 70 year history on it

22.43 now

22.50 in 6/1998

$152 in 5/2008

it's cheaper now than it was in 11/ 1947, or anytime since when it was 23.18

sounds good but it is very bad !

good time to buy?

 

[X-Files]

"Saudi Arabia just won control of the oil market":

https://www.cnn.com/2020/03/20/perspectives/saudi-arabia-oil-market/index.html


"What Happens If Oil Prices Go Negative?":

https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html

 

[niltes]

I don't know if oil is going down, but it is certainly not going up much soon.
Saudis are pumping at almost historic numbers (12 million barrels/day
along with exporting around 10 million of that) AND reducing their stored
inventory to increase supply. Russia is pumping out massive quantities too.
combine that with lower demand due to the economic contraction , it makes
it difficult to bullish on crude.

 

[MrBetitall]

Fed repo operations have hit $5 trillion. Stimulus checks and bailouts will lead to massive inflation after the dust settles
Right now people are dumping metals positions to meet margin calls and stay in cash. Dollar index will melt down and crash. Stay in gold or even Bitcoin, it is the only way out of Trump's mess. An orgy of Trump tax cuts and Trump health care elimiations (Pandemic response team anyone) has lead us to this sorry state. US infections skyrocketing, deaths multiplying, pathetic response by governments at all levels. Stay calm, buy hard goods and self isolate, only way to survive #TrumpVirus