By Catherine Austin Fitts
Oil is down 23% year to date – most of that fall has been in the last three months.
What does it mean? There are many variables at play – new supplies coming on line, global economy slowing, better economics for renewables and the integration of information technology globally. What about our old friend the Oil Card?
With exploration moving into the Arctic, the US faces the possibility that Russia could surpass the US in reserves controlled. We know from our recent interview with Anne Williamson, that the US and allies were successful in the 1990’s asserting greater control and ownership of Russian oil reserves and production capacity by particularly brutal means after successfully playing the Oil Card – manipulating the oil price lower to accelerate the collapse of the Soviet Union.
With Putin leading an effort to reassert sovereignty, including control of Russian oil and commodities, is the Oil Card game switching from checkmating China with a high price to bringing the Russians to heal with falling prices?
Veteran report Jim Norman returns to the Solari Report to discuss what is next for the Oil Card. If you have not read Jim’s book The Oil Card it is one of our top picks for understanding the global economy and the world around you.
I will cover the latest in financial markets in Money and Markets and why British Prime Minister Cameron’s comments after the latest G-20 meeting combined with recent announcements about British sex scandals add up to a new warning signal for the financial system. In Let’s Go to the Movies, I will review the documentary The Prize: The Epic Quest for Oil, Money & Power.
Talk to you Thursday!