What is the Gold Dinar?
For those who are puzzled why US is so afraid of this Gold Dinar currency, you will have to understand the Americans depend very much of the world acceptance of US dollars as the medium/currency of exchange in world trade, especially for oil or what they call "Petrol Dollars". This is the main reason why US can still live such...
OPEC Crude Oil Plunges Below $30 for First Time Since 2004
The price of crude sold by OPEC members slid below $30 a barrel, the lowest level in almost 12 years, as turmoil in Chinese markets deepened the global commodities rout. The daily basket price of crudes produced by the 13 members of the Organization of Petroleum Exporting Countries fell to $29.71 a barrel on Wednesday, down...
Bloomberg: That ’80s Show, in Singapore
The last time Singapore's marine-services industry was staring at what would eventually turn out to be an 18-year drought in demand for oil rigs, Ronald Reagan was starting his second term as U.S. president. Jackup rigs, used to drill for oil in shallow waters, saw orders evaporate between 1985 and 2003. As Macquarie notes,...
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