So what are the Saudis and the Russians going to do about it?
A Saudi-led coalition has developed what it calls an "oil weapon" that it plans to unleash on the US. By this means they plan to recapture their position as the world's preeminent oil profiteers, while knocking the US down a peg or two in the process.
"Saudi Arabia and OPEC may have just launched an Oil War," reports one award-winning journalist. "It's a matter of national defense. OPEC wants to punish US Oil," says Richard Kovacevich, the former CEO of Wells Fargo.
This Saudi-initiated oil weapon is very likely going to negatively affect the US economy, the stock market, and, most importantly, our currency.
- Particular stock sectors are likely to be hit very hard. For example, many US oil and energy companies, already reeling from falling oil prices, could crumble another 50%, for a second straight year. Dozens will be forced out of business.
- Interest rates will likely skyrocket, and inflation too, with a corresponding crater in many widely held bonds.
- As inflation soars, real estate may well go through another crisis. Think 2007 to 2008, but worse.
- Unemployment could also soar to the 10%-plus rates we last saw in 1982 and October of 2009.
One Russian billionaire recently called the much-expanded OPEC game plan "a major strike against the US market" which could ENSURE certain destruction of many US assets. He continued: "The Saudi-led ploy to unleash its oil weapon will take down the US dollar."
We were given a preview of the coming crisis during a series of remarkable events that began in 1971, and that will provide the background for helping us understand what is to come next, and why.
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