Oil Drops In Price Along With Citi Economic Surprise Index, SOFR Rate Hits All-time High, Fed REPOs Soar! – Confounded Interest – Anthony B. Sanders

Biden is hoping for one more term as President. And declining oil prices might help him get re-elected.

But we have a battle brewing! The United Nations and World Economic Forum (and their proxies John Kerry, Greta Thunberg and Green Joe Biden) against …. everyone else. Despite Biden’s lame attempts (through climate envoy John Kerry) at getting China to go to green energy and rid themselves of fossil fuels, China claims a new discovery of roughly 1.78 billion barrels of oil. Kristalina Georgieva, a Bulgarian economist who serves as the managing director of the International Monetary Fund, said Monday that the IMF wants to see countries implement punishing new carbon taxes to “fight climate change.” Kristalnacht won’t like China’s oil discovery either.

Then we have oil production surging (think of WEF’s Klaus Schwab’s scowling face) and crude oil prices sinking to 6 month lows.

Oil prices are dropping along with the Citi Economic Surprise Index.

In financial markets, we have the Secured Overnight Financing Rate (SOFR) jumped to a record high.

And Treasuries purchased by The Federal Reserve (repos) skyrocketed this week.

On the gold side, we see a Golden Cross (not William Jennings Bryan’s Cross of Silver).

WEF’s Klaus Schwab won’t like China finding so much cheap energy.