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rhino: Lindsey Williams.

Basically, Mr. Williams was told that over the next twelve months, from mid-2008 to mid-2009,

(1) news of super giant oil fields, ready to produce, would be announced for two locations, in the Northern Slopes of Russia and in Indonesia, which oil fields would together contain more oil reserves than the entire Middle East;
(2) that this news would drive oil prices down to $50/barrel;
(3) that OPEC countries, especially in the Middle East, would be bankrupted by this price decrease;
(4) that this would cause the financing of our foreign trade and current account deficits through purchases of treasury paper by foreign nations with their surplus oil profits to collapse, leading to the collapse of the dollar;
(5) that the collapse of the dollar would cause unprecedented financial strife and turmoil in the US, and that it would take many years for the US to recover from this financial debacle;
(6) that they (big oil) support John McCain for President; and
(7) that US domestic oil reserves would never be tapped, and that any legislation which might allow domestic reserves to be tapped would not be allowed to pass, leaving the US dependent on foreign oil forever.

Now he has a new prediction:

He predicts massive hyper inflation within the next 9 months.

LOL!!!!!

I know a lot of those loonies that listen to Mr. Williams are no longer at dailypaul, but I always enjoy a good discrediting.

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Are

Are you saying Lindsey's predictions normally do come true or do not come true. Never heard of the guy.

Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/

Detective Krum Investigates:
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He is a preacher who thinks he is an expert on oil.

My view is that the only oil he understands is snake oil. He sells a lot of that.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

SteveMT's picture

tick...tick ....tick. Lindsey would not purposefully lie.

My impression for what that is worth. I don't believe that he has Alzheimer's, and he didn't fabricate this stuff out of thin air. So, we are left with he told us the truth or he is a great liar. Men of the cloth have certainly lied before, but I do not believe that he is lying to us. We will wait longer and see what else happens.

Shares of oil majors tumble with crude prices

NEW YORK – Shares of major oil companies fell sharply on Monday, as crude oil prices tumbled amid new reports that signaled continued consumer spending restraint.

Benchmark crude for September delivery at one point fell as much as 3 percent to $65.23 a barrel on the New York Mercantile Exchange.

On Friday, prices tumbled on a sharp drop in the Reuters/University of Michigan consumer sentiment index, a bad sign for crude and gasoline demand, which had already been sluggish this summer.

This news comes just a few weeks after the sector reported steep declines in second-quarter profits as oil companies faced crippled demand for energy products and dramatically lower crude prices. The compounded negative news sent shares falling in afternoon trading.

Shares of Exxon Mobil, the world's biggest publicly traded oil company, fell $1.39, or 2 percent in afternoon trading. ConocoPhillips shares dropped $1.34, or 3.1 percent, to $42.43. BP PLC, Europe's second largest oil company, saw its shares slide $1.24, to 2.5 percent, to $49.19. Shares of Europe's third-largest oil producer Total SA tumbled $1.63, or 3 percent, to $52.75.

http://news.yahoo.com/s/ap/20090817/ap_on_bi_ge/us_oil_major...

Hyper - inflation?

Wonder what he means by that?

Inflation is an increase in money supply that may or may not lead to price increases, depending on the supply of "things" for that money to buy, and the speed at which people spend that money.

The rate of inflation of the money supply is usually expressed as a percentage, sometimes by comparing the money supply today with the money supply one year ago.

Of course many people don't use this definition and rather look at things like the consumer price index (as manipulated as it might be) to see the rate of price changes.

So far, even though the federal reserve bank doubled the monetary base last autumn, which is then used by banks to create new money, the rate of money supply increase has not been extraordinary, and much of what new money was created was loaned to the federal government, not to the private sector.

Look at this M3 money supply chart and tell me if the rate at which this money measure is expanding is increasing or decreasing. Looks to me that the rate of money expansion is consistently falling when the year over year percentage change is used to tell what is happening.

http://www.nowandfutures.com/key_stats.html

I am much more inclined to think that the greater financial danger is the collapse of prices as the velocity of money stagnates and the money supply growth becomes more and more anemic.

As far as the assessment of Mr. Williams expertise in oil, I presume you are talking about snake oil.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

Glorious!

Lindsay is quite interesting, but I think he takes a dime of actual knowledge and pretends to know it all. He doesn't...if you look at his claims with a critical eye, you'll find major gaps in his logic.

Number 4 is the gap here...the oil producing nations buy only a fraction of our debt, and we've barely felt the hit. I said this a year ago, probably more. Also, even if it had a significant impact, the hit we would feel by having to offer better terms for debt would be wiped out by the crashing foreign trade deficit. (Less money going overseas for oil, more money stays in America).

Williams called the drop in oil, but it had nothing to do with supermassive oil discoveries...it occured because the price was a bubble and was unsustainable.

Listen to Lindsay for some entertainment...but see him for what he is. He's a dying breed who still believes that oil will continue to be the most important resource on the planet. In a generation, oil will be considered just another commodity. There was a time when coal was thought to be the most important thing for industry...now you can barely turn a profit from mining the stuff.

Hyperinflation is not coming any time soon. Anyone who tells you otherwise has no concept of how macroeconomics works.

www.jzneff.blogspot.com

lmao.. he was one hell of a

lmao.. he was one hell of a lot more accurate then you on oil... much more accurate..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

uggggggggggg

not this guy again!

good ole rhino spouting

good ole rhino spouting off... lets see,, Lindsey Williams called it almost to the dollar... oil from 150 to 50.. looks like he hit it to me.. give it up rhino.. you are not as smart as you think you are.. we will see what happens by next spring...

The USTreasury Bond is buidling pressure of its own. Shown is the ‘TNX’ that indicates the 10-year USTreasury Note yield. It is caught in a rising trend. The cylicals point upward, and the moving averages are rising. The 4.0% level is a the line in the sand, it seems. Any USEconomic recovery, even a tepid one, even a false one, will likely be accompanied by a surprising rise in price inflation. The Exit Strategy for the US Federal Reserve is best described as a man trying to emerge from a StraitJacket; they have none. Drain the liquidity and force an economic collapse from credit constriction, hardly a workable plan. The alternative is more of the same, incredible volumes of continued debt issuance, and eventual spillover. The Deflation Knuckleheads have been quiet in recent weeks. They failed to notice that the rising US stock market, seen in the Dow Jones Industrial Index and S&P500 Index, is actually evidence of price inflation. It is not evidence of recovery of any sort. The next USEconomic shock is the rising cost structure from a declining USDollar, whose billboard warnings are totally overlooked by economists.

http://www.kitco.com/ind/willie/aug132009.html

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

The Bakken Shale Formation

The Bakken Shale Formation Oil was discovered, giant find in Russia, large find in Indoneisa.
October will be a telling month on Inflation.

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

here is an interesting take on Bakken

http://www.theoildrum.com/node/3868

My 96yr old Grandfather & I have been discussing this lately:

1. The Bakken shale has produced about 111 million barrels of oil during the last 50+ years in Montana and North Dakota.
2. Total Bakken production is still rising, and producing at the rate of 75,000 BOPD in October 2007.
3. Because of the highly variable nature of shale reservoirs, the characteristics of the historical Bakken production, and the fact that per-well rates seem to have peaked, it seems unlikely that total Bakken production will exceed 2x to 3x current rate of 75,000 BOPD.
4. The latest boom in Bakken production is driven by the application of horizontal wells and hydraulic fracturing technology, which has added about 70 million barrels of production in 7 years. Ultimate recovery of the already-drilled wells should be at least double this volume.
5. The USGS estimates the mean volume of technically recoverable hydrocarbons to be 3,649 million barrels of oil. This is roughly 7 to 12 times the size of already known resources.
6. Based on current production and areas likely to be drilled, the USGS estimate of technically recovery resources seems optimistic.
7. The Bakken potential resource, while large by US onshore field standards, will have only a minor effect on US production or imports. Using 2006 US imports and consumption for comparison, the Bakken undiscovered resource of 3,649 million barrels of oil, if subsequently discovered and fully developed, would provide us with the equivalent of six months of oil consumption or 10 months of imports, spread over 20 or more years. In reality, the reserves developed are likely to be many times smaller than this value.
8. The October 2007 production rate of 75,000 BOPD amounts only 0.4% of US oil consumption, or 0.6% of imports.
9. Per-well Bakken production peaked in August 2005 at 116 barrels a day, and was down to 79 barrels a day in October 2007. If the Bakken production history in the 1990s can be used as a guide, the peaking of per-well production may portend a peak in total Bakken production.

Jive_Dadson: Shale oil is not profitable

Shale oil is not profitable at $50 a barrel. Or $80.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

actually it is at 30.00

actually it is at 30.00 shell oil has the patent and the know how to produce oil from shale.. they are profitable at 30.00 oil..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

Then they are mining it now...

...and turning a nice profit.

If there is something wrong with my conclusion, the error probably lies in your premise.

Gaea Vindice

dynamite anthrax supreme court white house tea party jihad
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West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

now they are not. if they

now they are not. if they mine it now we would not have to have troops in foreign lands "guarding oil" for our interests..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

rhino, what do you see

rhino, what do you see coming down the line? Inflation or deflation?

...

Purely speculation and an educated guess on my part.

Moderate inflation over the next 5 years relative to gold. Pretty much stable relative to other currencies.

I think there is a chance of deflation in the near term but an equal chance of status quo.

In five years ... I think inflation could hit hard, but only if, I repeat, only if, there is a decoupling of currencies and a hand full of currencies switch to a gold standard. My guess all along has been that China and Japan will decouple. The money is on the Brick nations. I stand by my prediction.

You have to understand, this is a global market. Something that has never happened in history.

From now on, we can not look to history to show us the way. We will be in uncharted territories.

WAHOR!!
http://www.dailypaul.com/node/48994

please explain decoupling of

please explain decoupling of currencies... and how that would cause inflation.. Inflation is a monetary event.. inflation is caused by the fed.. has nothing to do with other currencies.. ofcourse,
they will print money too in a competitive devaluation. we have already seen that.

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

Jive_Dadson: The first rule

The first rule of prognostication is never point out the fails. Ruins all the fun.

The Reverend made strategic mistakes. He made predictions that were not nearly vague enough, and too unlikely to happen. Giant oil fields? Those are few and far between. He claimed to have completely trustworthy and accurate inside knowledge. Oopsie. Now his purported insiders are discredited.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Um... I am not a Lindsey

Um... I am not a Lindsey Williams fanboy, but isn't it a little premature to call him discredited? After all, he predicted that the collapse of the dollar wouldn't happen until the latter half of the year. Big oil very well may have supported McCain, but they are not necessarily the only big power playing ball right now. Massive hyperinflation may very well be right around the corner -- even within a month. Why is that funny again?

I have a few issues with Lindsey Williams -- especially his delivery style -- but I think it is a bit premature to start your victory dance just yet.

Um ... no it is not.

Come on Khomar. I know you and I are on the same page here. Who are you defending?

The man is a whore. W ... H ... O ... R ... E !!!!!!

Do you want me to go back another 12 months and show how much of a whore he really is?

WAHOR!!
http://www.dailypaul.com/node/48994

yes please go back another

yes please go back another 12 months...

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

lmao.... half truths.. you

lmao.... half truths.. you and jzneff must be brothers..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

Rhino, reading this post and your comment further down...

I envision that you were dancing around like a kid who was ready to pee his pants with excitement as you awaited the time when you could point out fallacy in Williams' predictions and call people "loonies" and "kooks" who gave his predictions consideration.

It seems to me there was someone recently who did not have Alabama on his 10 (or 11) bankrupt state prediction list.

The person who pointed it out to you did not call people "loonies" and "kooks" who were interested in your predictions, nor did that person laugh and throw a party at the error of your prediction.

The difference is ...

I clearly state this is speculation. It is merely a guess.

That goof ball is getting people to invest money in him and he is claiming that this is exactly what is going to happen.

The man is a whore. The fact that he is a man of the cloth not withstanding.

I hereby state, for the record, I will never, never ask you to send me money for information that I have.

I will never peddle information for money, ever.

I have never paid anybody in my life for information and I never plan to, and I would not expect someone to pay me for information.

A product is another matter, but never information.

WAHOR!!
http://www.dailypaul.com/node/48994

So...

Did you pee your pants? :P

I'm curious how long it took him to get to that sentence

I'm guessing more than 20 minutes.

That is quite funny.

I watched a few of his presentations and he always says "O.K., what I am about to tell you is absolutely true." Then he explains for 20 minutes why this must be true, before he says it if at all.

I now look for a written summary instead of wasteing my time with the mystic faith involved in his prediction.

This guy knows ...

This guy has more money than god ....

This guy had lunch with Obama ...

Blah ... blah ... blah ....

But he asked me not to mention his name ....

Oh and by the way ...

This guy is a member of the IMF ...

Not just any member but ...

he can hit a key on his keyboard at home and ...

change the exchange rate of the dollar ...

Blah ... blah ... blah ...

But I can not reveal his name because he asked me not to.

WAHOR!!
http://www.dailypaul.com/node/48994

but but but......he gets all

but but but......he gets all his info from one of the illuminati!!!

LOL, your right.

Maybe he just misheard them on the time line aspect of it.

It always cracked me up, because most of those kooks were extremely rational people that had rational thoughts.

They just seemed to always get caught up in the CTs.

It's like they had the brain fart gene when they were born.

WAHOR!!
http://www.dailypaul.com/node/48994

LOL.

It's like they had the brain fart gene when they were born.

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