SAUDI OIL BEING REJECTED

SAUDI OIL BEING REJECTED

April 9, 2020 By Joseph P. Farrell

This one was spotted by K.M., and it's another whopper, with high octane speculatable implications, so let's jump right in:

Saudi Oil Industry at Risk as American, European Refiners Refusing Riyadh’s Crude – Reports

If you've been following the "oil news" lately, you'll be aware of the fact that Russia and the (out)House of Saud have been locked in a "race to the bottom", battling each other over who can lower oil prices more. Needless to say, many people are commenting on the implications of this race to the bottom for the whole petro-dollar reserve system, and the prognostications seem to be almost universal that that system is finished. Certainly we're watching all the signs of some sort of financial reset or - to use the more euphemistic term - "transition". For the (out)House of Saud, the corona virus lockdown couldn't have come at a worse time, for with the sudden drop of demand due to the fact that people aren't traveling, as the article notes, there's now an oil glut, and European and American refineries are simply not accepting Saudi oil. This, plus the "oil war" with Russia puts a huge bind on Saudi oil fields, which - and I'm guessing here - probably cost the Saudis more to pull out of the ground than it does the Russians.

But you know me, I can't resist crawling way out to the end of the twig of high octane speculation. Indeed, today, I am once again going to walk off the twig altogether, into thin air. I'm literally thinking so outside the box here - out loud and ex tempore, as it were - that you'll have to bear with me.

Suppose, for a moment, that you're Mr. Globaloney, and you need to somehow write off all that bad paper on your ledgers that you've accumulated due to your own reckless financial speculations. Much of that bad paper is of course tied to the whole petro-dollar-reserve-central-bank system, and to closed systems of energy and physics. One way to do that would be to completely overhaul or reset the financial system with an entirely new energy paradigm, one virtually limitless, which would allow all that bad paper to be erased. How to do that? Well, contrive a story - a plandemic - by which to plunge the petro-dollar-system into a "race to the bottom." But what to replace it with? If one wishes to fundamentally "reset" the financial system, this cannot be done without a fundamental reset of the energy system: Fusion, or - even better - zero point energy; something, in other words, that would give over the long term a virtually infinite supply of energy.

Now here's the kicker: I've been arguing for a number of years, and particularly in my books Babylon's Banksters and The Financial Vipers of Venice, that systems of physics such as renewable, versus non-renewable energy sources, and systems of finance are intimately connected. A closed system physics is intimately tired, therefore, to closed systems of finance that are debt-0based. Conversely, open systems of energy would be best tied to systems of finance based not on monetized debt, but on debt-free money. But are there potential signs that this is in the works.

Well...maybe, and it's a mighty iffy and huge maybe: we've seen some odd indicators that something mighty peculiar is taking place in the financial world: the Fed sets reserve requirements to zero, effectively meaning their ability to release money is infinite; we have also seen the strange story of the Kreditanstalt fur Wiederaufbau, the German state-owned bank for reconstruction, promising an "unlimited" line of credit, if needed, to German businesses hurt by the corona virus economic downturn, implying once again that uncomfortable concept of infinity. If one ponders these moves without the context of a potential paradigm shift in energy, then these moves make no financial sense nor rationale. If, however, one ponders them in connection to a revolutionary shift in energy paradigms, then they become less irrational (without, I submit, becoming wholly rational).

Ok... you can all now pile on and call me crazy.

See you on the...

Oh, one more thing: perhaps it's worth mentioning that story from a few years ago, about the Rockefailure interests divesting themselves of their stakes in all petroleum interests and equities...

See you on the flip side...