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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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When KE issues Sovereign Sukuk this site will be useful. https://www.zawya.com/sukuk/$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Quote:Gold dropped to new lows of $1,130 per ounce last week. This is surprising because it doesn’t square with the fundamentals. China and India continue to exert strong demand on gold, and interest in bullion coins remains high.
I explained in my October article in The Casey Report that the Comex futures market structure allows a few big banks to supply gold to keep its price contained. I call the gold futures market the “paper gold” market because very little gold actually changes hands. $360 billion of paper gold is traded per month, but only $279 million of physical gold is delivered. That’s a 1,000-to-1 ratio: http://www.zerohedge.com...d-its-effect-gold-price
@hisah Finally I get an answer as to why what's supposed to be a no-brainer gold play isn't really so! 1000-to-1?! Ajab...
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Cde Monomotapa wrote:Quote:Gold dropped to new lows of $1,130 per ounce last week. This is surprising because it doesn’t square with the fundamentals. China and India continue to exert strong demand on gold, and interest in bullion coins remains high.
I explained in my October article in The Casey Report that the Comex futures market structure allows a few big banks to supply gold to keep its price contained. I call the gold futures market the “paper gold” market because very little gold actually changes hands. $360 billion of paper gold is traded per month, but only $279 million of physical gold is delivered. That’s a 1,000-to-1 ratio: http://www.zerohedge.com...d-its-effect-gold-price
@hisah Finally I get an answer as to why what's supposed to be a no-brainer gold play isn't really so! 1000-to-1?! Ajab... Price manipulation by comex and LBMA ensures that the price of paper gold ponzi remains depressed.
Target for gold is 960 -1080 zone. From that level prices will very likely base out for the next bullish cycle. This also depends if SGE (shanghai) will have gained enough muscle to take on comex and LBMA ponzi strength. If the market moves east, the rally will be crazy! 2016 is the likely inflection point.
Something interesting is also about to happen in Swiss who hold a gold referendum by end month.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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If you owned Apple Inc. (AAPL) , and sold it, you could purchase the entire stock market of Russia,
and still have enough change to buy every Russian an iPhone 6 PlusWell done global CBs for buying equities to utopia levels. Best ponzi show ever in history... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote: Oil is breaking critical support levels with impunity!!! Still heading lower!
Next many oil producers will be caught up in the crossfire with national budgets out of balance.
If this scenario rolls over into 2016 when KE is supposed to be shipping hydrocarbons, it may end up as a failed to launch project...!
Is the KE treasury modelling this extreme scenario, stress test? Sovereign bond payments could become a big thorn.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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hisah wrote:hisah wrote:Oil is breaking critical support levels with impunity!!! Still heading lower!
Next many oil producers will be caught up in the crossfire with national budgets out of balance.
If this scenario rolls over into 2016 when KE is supposed to be shipping hydrocarbons, it may end up as a failed to launch project...!
Is the KE treasury modelling this extreme scenario, stress test? Sovereign bond payments could become a big thorn. Surely @hisah this trend is now madness rather than fundamentals. Do you have a classic contrarian gamble - instrument, position? Let's shoot for the stars 
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@muganda - I'm reviewing some canadian oil stocks for a contra play. Plain selling madness in hydrocarbons since July. Meanwhile a Citi banker is found in his apartment. Was the MD of Citigroup Environment unit. Global banker elimination has scaled up since Nov 2013... Surely the pandoras box will be nasty when the cat jumps out of the bag. http://www.businessinsid...hawn-miller-dead-2014-11$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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[quote=hisah]@muganda - I'm reviewing some canadian oil stocks for a contra play. Plain selling madness in hydrocarbons since July. Meanwhile a Citi banker is found in his apartment. Was the MD of Citigroup Environment unit. Global banker elimination has scaled up since Nov 2013... Surely the pandoras box will be nasty when the cat jumps out of the bag. http://www.businessinsid...awn-miller-dead-2014-11[/quote] For once it's not a "suicide"
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Kutokelezea... Zim to rejoin London Bullion Market after meeting 10-tonne target http://source.co.zw/2014...eeting-10-tonne-target/
Zimbabwe tops COMESA food chart #BusinessHerald http://www.herald.co.zw/...tops-comesa-food-chart/ --- As we are busy trashing our country.. The number of international visitors to Africa in 2013 was 65.1 million. The most popular African destinations for international travelers in 2013 were the North African countries of Morocco, Egypt, and Tunisia while South Africa and Zimbabwe were the leading destinations in Sub-Saharan Africa. - AfDB Africa Tourism Monitor
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Stocks Look Cheap to Nigeria’s Onyema as Foreigners ExitQuote:Foreign investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued in Africa’s biggest economy, the bourse’s chief executive officer said.
The benchmark index’s 18 percent decline this year isn’t justified by economic changes and as a result Nigerian equities are “effectively on sale,” Oscar Onyema said in an interview yesterday at a conference in Diani, Kenya. “The fundamentals demand higher valuations.”
Nigerian stocks dropped as crude slid into a bear market and the central bank eroded reserves to support the currency, which fell to a record low this month. Nigeria is Africa’s biggest oil producer, and its $520 billion economy is forecast to grow 6.5 percent this year and next, according to a Bloomberg survey of economists.
“The local institutional investors are net buyers at the moment,” said Onyema. “They’re buying and their way of looking at it is that the prices we’re seeing today are not justified by the fundamentals.” Lagos is in 2011 KE like ulcers central. I'm sure Mzee young must be a busy buyer with all the fat-tails showing up in Lagos. I'm really struggling to have a vacation with most hydrocarbon nations equities getting clobbered especially hydrocarbon related. Fat discounts are plenty... What a xmas!!! $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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hisah wrote:Stocks Look Cheap to Nigeria’s Onyema as Foreigners ExitQuote:Foreign investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued in Africa’s biggest economy, the bourse’s chief executive officer said.
The benchmark index’s 18 percent decline this year isn’t justified by economic changes and as a result Nigerian equities are “effectively on sale,” Oscar Onyema said in an interview yesterday at a conference in Diani, Kenya. “The fundamentals demand higher valuations.”
Nigerian stocks dropped as crude slid into a bear market and the central bank eroded reserves to support the currency, which fell to a record low this month. Nigeria is Africa’s biggest oil producer, and its $520 billion economy is forecast to grow 6.5 percent this year and next, according to a Bloomberg survey of economists.
“The local institutional investors are net buyers at the moment,” said Onyema. “They’re buying and their way of looking at it is that the prices we’re seeing today are not justified by the fundamentals.” Lagos is in 2011 KE like ulcers central. I'm sure Mzee young must be a busy buyer with all the fat-tails showing up in Lagos. I'm really struggling to have a vacation with most hydrocarbon nations equities getting clobbered especially hydrocarbon related. Fat discounts are plenty... What a xmas!!! I am trying to understand the second sentence without success. Could you interpret for the innocent?
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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iris wrote:hisah wrote:Stocks Look Cheap to Nigeria’s Onyema as Foreigners ExitQuote:Foreign investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued in Africa’s biggest economy, the bourse’s chief executive officer said.
The benchmark index’s 18 percent decline this year isn’t justified by economic changes and as a result Nigerian equities are “effectively on sale,” Oscar Onyema said in an interview yesterday at a conference in Diani, Kenya. “The fundamentals demand higher valuations.”
Nigerian stocks dropped as crude slid into a bear market and the central bank eroded reserves to support the currency, which fell to a record low this month. Nigeria is Africa’s biggest oil producer, and its $520 billion economy is forecast to grow 6.5 percent this year and next, according to a Bloomberg survey of economists.
“The local institutional investors are net buyers at the moment,” said Onyema. “They’re buying and their way of looking at it is that the prices we’re seeing today are not justified by the fundamentals.” Lagos is in 2011 KE like ulcers central. I'm sure Mzee young must be a busy buyer with all the fat-tails showing up in Lagos. I'm really struggling to have a vacation with most hydrocarbon nations equities getting clobbered especially hydrocarbon related. Fat discounts are plenty... What a xmas!!! I am trying to understand the second sentence without success. Could you interpret for the innocent? @Iris Young is a wazuan,Nigerian national who has been in Kenya & NSE for long. he's old nearing retire (hence mzee young) and went back to Nigeria this year. look here www.wazua.co.ke/forum.aspx?g=posts&t=12920 Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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Boris Boyka wrote:iris wrote:hisah wrote:Stocks Look Cheap to Nigeria’s Onyema as Foreigners ExitQuote:Foreign investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued in Africa’s biggest economy, the bourse’s chief executive officer said.
The benchmark index’s 18 percent decline this year isn’t justified by economic changes and as a result Nigerian equities are “effectively on sale,” Oscar Onyema said in an interview yesterday at a conference in Diani, Kenya. “The fundamentals demand higher valuations.”
Nigerian stocks dropped as crude slid into a bear market and the central bank eroded reserves to support the currency, which fell to a record low this month. Nigeria is Africa’s biggest oil producer, and its $520 billion economy is forecast to grow 6.5 percent this year and next, according to a Bloomberg survey of economists.
“The local institutional investors are net buyers at the moment,” said Onyema. “They’re buying and their way of looking at it is that the prices we’re seeing today are not justified by the fundamentals.” Lagos is in 2011 KE like ulcers central. I'm sure Mzee young must be a busy buyer with all the fat-tails showing up in Lagos. I'm really struggling to have a vacation with most hydrocarbon nations equities getting clobbered especially hydrocarbon related. Fat discounts are plenty... What a xmas!!! I am trying to understand the second sentence without success. Could you interpret for the innocent? @Iris Young is a wazuan,Nigerian national who has been in Kenya & NSE for long. he's old nearing retire (hence mzee young) and went back to Nigeria this year. look here www.wazua.co.ke/forum.aspx?g=posts&t=12920 @Boris Thanks for the clarification and double thanks for a great link. I am enjoying the education.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:Stocks Look Cheap to Nigeria’s Onyema as Foreigners ExitQuote:Foreign investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued in Africa’s biggest economy, the bourse’s chief executive officer said.
The benchmark index’s 18 percent decline this year isn’t justified by economic changes and as a result Nigerian equities are “effectively on sale,” Oscar Onyema said in an interview yesterday at a conference in Diani, Kenya. “The fundamentals demand higher valuations.”
Nigerian stocks dropped as crude slid into a bear market and the central bank eroded reserves to support the currency, which fell to a record low this month. Nigeria is Africa’s biggest oil producer, and its $520 billion economy is forecast to grow 6.5 percent this year and next, according to a Bloomberg survey of economists.
“The local institutional investors are net buyers at the moment,” said Onyema. “They’re buying and their way of looking at it is that the prices we’re seeing today are not justified by the fundamentals.” Lagos is in 2011 KE like ulcers central. I'm sure Mzee young must be a busy buyer with all the fat-tails showing up in Lagos. I'm really struggling to have a vacation with most hydrocarbon nations equities getting clobbered especially hydrocarbon related. Fat discounts are plenty... What a xmas!!! Nigeria's MPC hikes rate to 13% and devalues the Naira reference rate to 168. But the market had already pushed beyond the reference rate towards 180.
The depressed oil price will make many hydrocarbon nations to suffer a lot of headaches with their current and next national budgets. I expect these oil nation CBs to devalue their currencies going forward when things get hot. Some of them have never face current account deficits. That will be a tough pit for them.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 11/7/2013 Posts: 127 Location: Nairobi, Kenya
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THE Cartel's spoken...what say you @Hisah? I'm not buying their story of saying by maintaining output at current levels, low Oil prices will fuel global economy growth...something doesn't sound right there, OPEC isn't the world's keeper...bye-bye to a now crippled Venezuela economy too... I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Mart_Consult wrote:THE Cartel's spoken...what say you @Hisah?
I'm not buying their story of saying by maintaining output at current levels, low Oil prices will fuel global economy growth...something doesn't sound right there, OPEC isn't the world's keeper...bye-bye to a now crippled Venezuela economy too... Indeed OPEC is out of sorts. Oil has just broken another critical support level in what has now become a norm since Sept!? Shale oil sector and small hydrocarbon economies are facing a nasty crossfire.
This Putin guy. Watch him. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Some oil funds are definitely stuck here. Margin call central as oil price nosedive still on freefall. ** Hydrocarbon GFC ** $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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hisah wrote:Mart_Consult wrote:THE Cartel's spoken...what say you @Hisah?
I'm not buying their story of saying by maintaining output at current levels, low Oil prices will fuel global economy growth...something doesn't sound right there, OPEC isn't the world's keeper...bye-bye to a now crippled Venezuela economy too... Indeed OPEC is out of sorts. Oil has just broken another critical support level in what has now become a norm since Sept!? Shale oil sector and small hydrocarbon economies are facing a nasty crossfire.
This Putin guy. Watch him. Unless you can have oil below $60 and sustained for more than 6 months shale oil will triumph in this war. Break even is as low as $42 for shale oil. But junk bonds leveraged at oil price at $80 will have nasty end. This price ware will not end well for both sides....deflation spiral Quote:"We have OPEC on the run. I say get an energy plan & finish them off" T. Boone Picket Quote:"OPEC is always fighting with the United States because the United States has declared it is always against OPEC... Shale oil is a disaster as a method of production, the fracking. But also it is too expensive. And there we are going to see what will happen with production,"Venezuelan Foreign Minister Rafael Ramirez
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Nigerian 10yr eurobond yield has spiked sharply as the oil price nosedive and naira devaluation reality spooks the market. Things will be tough in 2015 if the trend sustains for Naira and Nigerian equities. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 11/13/2006 Posts: 551 Location: Nairobi
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The Abuja-Nairobi ArbitrageThe dip of crude oil below the $74.98 level seems to have dampened the growth prospects of oil-producing countries. The Russian Ruble and Nigerian Naira, by way of example, have suffered losses against the U.S. Dollar signaling, perhaps, that the emerging market boom is quickly turning into a bust... Read more: https://www.scribd.com/d...Abuja-Nairobi-Arbitrage
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