gold news

 I'm sure you noticed the price of oil spiked 3% yesterday it's already down 2% today but let me tell you what's going on you've heard about Libya shutting down their oil production it's temporary it's a political thing and I try to understand it I apparently do not get Libyan politics at all the more I read the more confused I got so to me it's a political thing it's temporary but doesn't matter how much oil is Libya exporting on a day-to-day basis on average it's about 250,000 barrels per

day and they produce more than that but they use up some of it of course some of it very greedily and selfishly they use their own oil instead of exporting it to the rest of the world but where does that oil go to it goes 25% to China the rest of it goes to Europe countries like Italy the rest of them and then some of it goes to America too in 2022 how much oil came to America from Libya please subscribe to the Peter lead's YouTube channel so you will Thrive throughout the economic breakdown about $ 2.24

billion worth that's about how much oil each year Libya is giving to America Now does any of this matter it apparently mattered enough to shock the market but even the 3% rise was overdone based on how much oil even though it sounds like a lot 250,000 barrels per day is not a lot in the big scheme of things it's still not nothing so it still had an impact but most of the that rises because of the shock Factor but there's so many things right now where Oil could Spike for any number of reasons that's what the oil

Spike and fade video was about that I made for you guys and I know I talk about it a lot but you should go back and read it or watch it sorry you should go back and watch it because it actually outlines everything that's happened since I made that video These spikes and shocks are pushing the oil up quickly it's not sustainable oil presses are always going to have this pressure that's going to keep them being pulled low or over time that's what the whole video is about spikes as it fades spikes

as it fades you've got Ireland in recession Canada in recession Germany in recession other countries in the EU America's going to be soon and I made a mistake in the last video and it was a mistake as it came out of my mouth and it was a mistake but I just didn't do anything about it I said that China was in recession they are recessing economically they're having huge troubles right now with the real estate with their stock market they are in a big amount of trouble and you notice

that then what does everybody do they all crowd around buying gold because they're smart that's what we should be doing in America and it's starting to percolate people in North America are starting to realize oh we should consider gold to be an investment that could actually perform really well performed just about everything else so far in the last year but the point is that the growth engine of the world was China as it was growing double digit per year growth in China has now become weaning growth that's

coming down pretty quickly and time will tell if India which they very well could picks up the slack because they are going to be they're the largest population of any country in the world right now and they are going to be really coming into their own just like China did maybe in a very different way but the same kind of idea India is going to be the big growth engine of the world for the next 10 15 years but anyway the Libyan oil shock was a shock that is fading away and it's still a factor that

they've taken that much oil off of the market there's going to be a lot of things are going to be pushing oil higher a lot of that are going to be pulling it lower overall the weakness of the global economy has proven to be and will continue to prove to be more significant than the strength of oil shocks that push the prices higher until we get into a massive military escalation in which case then all bets are off and the price of oil goes triple digits that day please subscribe to the Peter lead's YouTube channel so you will

Thrive throughout the economic breakdown