We're off to a wild start and it's only Monday. Protests have erupted across China over the weekend that could cause even more disruption to the global supply chain. We're talking more than a billion people here. Could be historic.
In Austria, a national rail strike is no doubt causing issues there. Fortunately for now, it is only supposed to last 24 hours. Some 50,000 rail workers are striking for better pay to cover inflationary cost of living. A similar situation is approaching in the USA in December if their rail workers choose to go on strike.
Crypto lender BlockFi is the next domino to fall after the disastrous FTX scandal, filing for bankruptcy this morning. Of about 100,000 creditors listed, FTX is the second largest.
Oil initially went down this weekend, giving us poor folks another break at the pumps after dropping this weekend amid the possibility of China shutting down but has risen back up again after OPEC hinted it may cut oil production (keyword, 'MAY'). At time of writing, WTI Crude is at 77 dollars and 18 cents.
The diesel issue hasn't gone away either, it seems as oilprice.com says the diesel crunch is now causing demand destruction.
And hey, did you see the one about the small plane that crashed into a high voltage tower? Don't worry. They're OK. They're calling from their cell phone to the people below trying to figure out how to get them down from there.
Silver got pushed down to $21 after climbing to $21.60 earlier in today's session while gold had climbed to almost $1765 before being pushed down to $1,741. Both metals are holding very well. These moves are very minor. I know because I've seen this a thousand times!
The USD is at 106.5 and has been range bound in the 106 - 107 range since November 10th after coming down from a dramatic high of 114 in late September and we all remember what happened just before that..
Sri Lankans decided to take a dip in the President's pool.
Thank goodness for cell phone cameras, eh? They capture everything.
What's next? Turkey is threatening to invade Syria. MyPillow CEO Mike Lindell plans to run or office. Stew Peters' documentary, "Died Suddenly' approaching 10 million hits on Rumble alone since its release on November 21. Not for the faint of heart (but a necessary truth).
Oh and Bitcoin kissed $16,000.80 in the last 24 hours but has regained a bit to $16,192.
I'm picking up hints something big is coming around the 13th to the 15th of December. Not sure what it is but just letting you know in case something weird really does happen. Stay ahead of the game.
Love and Peace to Everyone!
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