0/3 First you accusing me of stating Bitcoin is a hedge against any and all falling assets then you link a post where the opposite is being said; Trade in your Bitcoin for fiat. That is the only 180 degree turn here. Specifically, the article is talking about banks allowing bitcoin holders to borrow against their bitcoin. Generally when a lending institute offers a loan against high risk assets, its not a 1:1 ratio. You're looking at closer to .30 to .35 cents on a dollar. So yes, if Bank of America wants to get bitcoin on their balance sheet and they are offering people 33% loan to value, its a really great hedge in the event bitcoin does drop 70% and the borrower gets margin called. Isnt that pretty much what happened? Adoo, are you fluent in english? I feel like there is a communication barrier here and you're filling in a lot of big gaps with massive assumptions.
Gas prices may surge again ahead of midterm elections As new sanctions threaten to choke global oil supply, the White House scrambles to contain potential fallout https://www.washingtonpost.com/business/2022/07/16/gas-price-increase-midterms/ excerpt: Drivers relieved by the recent dip in gas prices may be in for a shock when the summer winds down, with energy analysts warning a fresh round of price surges could emerge as soon as October. The prospect of a new gas price jolt coinciding with midterm elections has the White House and many Democrats on edge. *** The worrisome prognosis for consumers, coming as the nation is already struggling with historic levels of inflation, has the Biden administration grasping for interventions that could bring relief. Yet U.S. political leaders are confronting the reality that even the most aggressive domestic political and policy measures often have scant impact over prices in a global oil market guided by forces out of their control. Economists across the ideological spectrum warn that the measures the White House is promoting — allowing Russian oil into the global marketat reduced prices, taxing oil company “windfall” profits, cutting the federal gas tax — could ultimately aggravate the energy crunch in the United States, rather than ease it. “When things like this happen, we tend to focus on short-term fixes,” said Christopher Knittel, a professor of applied economics at MIT’s Sloan School of Management. “But, unfortunately, gas prices are not really something you can fix in the short term.” The White House worries come at a moment consumers see gas prices as one of the few things in the economy trending in the right direction. The cost of a gallon has fallen from more than $5 a month ago to a national average of $4.60, according to AAA. Oil is trading for less than the price it did before Russia invaded Ukraine. Concerns about a potential recession dampening demand have played big in the price drop. Another key reason prices have fallen lately is that initial sanctions against Russia are far less effective than planned. The country’s oil is making its way into world markets despite the restrictions, flowing to places like China and India. It means the global supply is not as tight as forecast when the United States and Europe initially joined forces to punish Russia over its invasion. That could change with the next round of planned sanctions. A full ban of cargo shipments of Russian oil to Europe is set to take hold on Dec. 5, with the market expected to factor in its impact much sooner. more at the link
It makes sense for oil companies to raise prices during a Dem term in order to win elections. Fact that they are making record profits and not wanting to increase production tells you that this is political warfare.
And Biden’s actions, words and policy have unintended consequences but exactly why would oil companies be so against Democrats? This sounds like serious conspiracy stuffs
Biden is an abject failure , I don’t even know if I can give him responsibility given that we don’t even know if he’s mentally present during any policy decisions
Biden's actions? What action can he really take? People like to say Biden has all this power to affect oil price, but truth is he doesn't. It wasn't Biden who went to the Saudis and begged them to cut production a few years back by the way. That's the action that ended up screwing us and many economists said it would. Equating this to Biden is actually far more crazy.
collusion is illegal oil companies have been hit hard in the last decade by economic downturns with a recession in the short term a real possibility, it’s no surprise that they are conservative and don’t want to overextend themselves with that said, I don’t like the record profits due to higher prices to consumers (not just oil companies) - but this is more of a feature of the American (corrupt by political power influence) capitalism than a bug
Trump did oil companies (and the industry) a huge favor. This is probably one of the rare times that a POTUS did affect oil price. I can’t blame him for doing what was pretty sensible at that time. That probably saved thousands of jobs but it did end up screwing the world over. The bigger problem is the world is basically hostage to OPEC+. Those guys have more control over the world economy than the feds.
US could produce a lot more oil. It is just no one wants to see 40 dollar oil. PE and banks aren't interested in financing drill baby dill. They lost a 100 bil doing that. Also there has been little investment in the last few years so even the middle eastern countries probably can't really produce more.
If only Republicans really cared. They live for voting NO then blaming Biden. Blame yourselves for doing NOTHING!
Yea. The big 5 lost billions in 2014/15. Then again in 2020. No one is going to bankroll more drilling when there is a chance of a global recession in the next few years. I read that too - that there might not be that much spare capacity from OPEC. More reasons to continue to ramp up other energy sources.
Vulnerable Democrats sound the alarm over inflation crisis https://www.cnn.com/2022/07/18/politics/inflation-vulnerable-senate-democrats/index.html excerpt: "Oh, shitte!" more at the link
