The US government plans to sell half of the Strategic Emergency Oil Reserves and gasoline. The days of OPEC embargoes of the 1970s are now long past. The government plans to increase its budget for the financial year by $500 million. Therefore, over the next decade, the government wants to increase financial leeway by as much as […]

QUESTION: Mr. Armstrong I live in Israel and today I listened to your podcast with Macrovoices. At some point you mentioned that there is more oil in Golan heights than in Saudi Arabia -and this oil belongs to genie energy. Is it true? How can it be that nobody knew nothing about this in Israel? […]

Another major discovery of oil has been made in Alaska of 1.2 billion barrels. It is the largest find of conventional oil for 30 years on US territory. The discovery was made by the Spanish oil company Repsol on Thursday with its US partner Armstrong Energy. According to a report from the company, the production […]

Crude rallied during October reaching the $52 level. Yet for the close, it crashed and burned on the last day to AVOID a buy signal at $49.35 level. We bounced off the first Downtrend Line, which now stands at $51.86 for November. This is what I mean about the hidden order within markets. This has […]

The Organization of Petroleum Exporting Countries’ (OPEC) agreement to cut production is supposed to end Saudi Arabia’s policy of the last to years to pump-at-will. This has sent Middle Eastern economies into a tail-spin and the glut of oil has meant rising taxes and selling bonds to raise capital. With this new claimed reversal of that […]

  The markets have been coiling, and quite frankly, this reminds me of when Pope John Paul II was shot, which was the first attempted assassination of a pope, on Wednesday, May 13, 1981, in St. Peter’s Square in Vatican City. Mehmet Ali Ağca, a Muslim, shot and wounded the Pope while he was entering the square. It did […]

Private Blog Update

COMMENT: MA, Someone said they sold the euro at 116 with a stop loss at 11705 and  sold gold at 1305 with a stop above last year’s high.  They earn a lot. But they not mention that your crude oil forecast is also correct! Feb 28, 2016 A daily closing above $33.60 on Monday will be a warning that […]

  We have interestingly reached an 86-year peak in oil reserves. This may actually be the end of that trend. Oil prices are causing companies to collapse, and in the Middle East various states have been forced to borrow money and raise taxes. We closed last month at $33.62 and held the Monthly Bearish at $33.55. […]

QUESTION: Mr. Armstrong, Mining ran a chart of the gold/oil ratio pointing out that conventional wisdom has placed the two together on the theory that rising oil prices push up inflation increasing demand for gold as a hedge. You have stated gold is not a hedge against inflation and you appear to be correct with […]