Ripped From The Headlines, April 3, 2023
OPEC Smacks US, World, Blackstone Sees $4.5B In Withdrawal Requests, McDonald's Does Its Own Bank Holiday - Read, Share, & Subscribe - SherlocExposes.com
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“Oil futures surged after Saudi Arabia led a surprise oil-production cut across several OPEC+ member countries that will remove more than 1 million barrels of oil a day from output by May.
In an announcement on Sunday, Saudi Arabia’s Ministry of Energy stated that the kingdom will implement a voluntary cut of 500,000 barrels a day from May until the end of 2023, in conjunction with other countries.
It said that the ‘voluntary cut is in addition to the reduction in production’ agreed at an OPEC meeting in October and ‘is a precautionary measure aimed at supporting the stability of the oil market.’ OPEC+ agreed in October to cut production by 2 million barrels a day from November, a move that angered the Biden administration.
Russia’s deputy prime minister, Alexander Novak, said his country would extend a March production cut of 500,000 barrels a day through the end of the year. OPEC+ is made up of members of the Organization of the Petroleum Exporting Countries and its allies, including Russia.
‘Today, the world oil market is experiencing a period of high volatility and unpredictability due to the ongoing banking crisis in the U.S. and Europe, global economic uncertainty and unpredictable and shortsighted energy policy decisions. At the same time, predictability in the global oil market is a key element in ensuring energy security,’ Novak said in a statement.”
“Blackstone Inc.’s $70 billion real estate trust for wealthy individuals faced higher withdrawal requests in March and restricted redemptions for a fifth straight month.
Shareholders asked to redeem $4.5 billion last month from Blackstone Real Estate Income Trust ‘in a month of tremendous market volatility and broad-based financial stress,’ the company said Monday in a letter. BREIT allowed about $666 million to be withdrawn, or about 15% of what was requested.
Investors asked to pull more than in February, when they tried getting $3.9 billion out. A Blackstone spokesperson pointed to the fund’s performance as a positive and said March redemptions were 16% below the January peak, when investors sought to withdraw more than $5 billion.
The firm restricts withdrawals to about 5% a quarter. BREIT had already hit 2% monthly limits in January and February, leaving investors with a narrower path out in March.
Blackstone built BREIT into a massive player in the real estate industry, acquiring properties from student housing to apartment buildings and warehouses. Late last year, BREIT confronted a spike in redemptions.
The real estate industry has come under pressure as investors seek to reduce their exposure, which had become proportionally larger as prices of other assets fell. Property owners are also facing much higher borrowing costs. That’s led to more defaults in certain troubled areas such as offices.”
“McDonald’s Corp. is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs undertaken by the burger giant as part of a broader company restructuring.
The Chicago-based fast-food chain said in an internal email last week to U.S. employees and some international staff that they should work from home from Monday through Wednesday so it can deliver staffing decisions virtually. The company, in the message, asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters.
‘During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,’ the company said in the message viewed by The Wall Street Journal.
‘We want to ensure the comfort and confidentiality of our people during the notification period,’ the company said in a statement.
Companies across industries are reducing head counts amid concerns about a slowing economy. Layoffs that began in the tech sector last year have spread to retailers and manufacturers. Last month Amazon.com Inc. said it was eliminating 9,000 more jobs, following previously announced layoffs.”
You need to be prepared… there’s just too much crazy stuff happening.
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Messy Monday, Ripped From The Headlines. Things To Ponder:
“Who Needs Oil? We’re Going Green!”
Sure, except for that part where there isn’t enough “green energy efficiency” to power things…
Which causes a problem.
But wait! There’s more…
The reduction is not only a problem for oil production (and everything else that’s made with oil, including gasoline), but it’s also going to be a price problem…
A BIG one.
In the past, we could rely on our strategic oil reserves…
But now?
Well, there’s this:
Yikes…
But, it gets worse. Here’s what the US Energy Secretary told people:
Energy Secretary Jennifer Granholm told lawmakers Thursday that replenishing the stockpile could take years.
Well, that causes a bit of a problem…
You may be wondering how our handling of the situation after the Biden administration went to “kiss the ring” in Saudi Arabia a while back ended up…
Here you go:
“Unadvisable.”
Jesus…
OK…
The US cut oil production, worked to kill the industry, and this is the best answer that was available.
Friends, if you didn’t know your foe before, you do now.
Brace for impact.
“Hey, If You Want To Get Out This Investment, No Problem! You Can’t!”
We understand that rich investors wanting to get out of a bad investment isn’t necessarily news…
But what is, is the impact that it has on the economy, and possibly, jobs…
Oh, there’s one other thing…
You should prepare to hear more about stories like this one…
Except, it won’t be uber-wealthy people trying to get out of an investment…
It will be average people, trying to get their money out of a bank…
And being faced with a “bank holiday” (click here for the explanation) or a “bail-in” (click here for definition.)
Spoiler alert: You will hate both of these options. A lot.
This goes back to our joke about the bomb diffuser lady…
If the bomb diffuser lady is running… she can’t diffuse the bomb, and it’s going to blow up… you should try and keep up with her.
Be vigiliant, and preprare!
“We’ll Just Be Over Here… Lying To You About Why The Office Is Closed…”
McDonald’s is funny…
It’s like they are doing their own version of a bank holiday!
But what’s really happening probably looks more like this:
But wait for it…
Their reason?
“We want to ensure the comfort and confidentiality of our people during the notification period.”
Um…
Just admit you didn’t want to deal with the backlash and there’s more to the story, McDonald’s.
Sadly, this likely won’t be the exception going forward…
It will be the rule…
In a time where people are on the razor’s edge with their life, family, career, and finances…
When they have nothing left to lose, they lose it.
What’s even more concerning is the unshakable feeling that the systematic collapse of the fabric of American society is by design, not by accident.
You need to ask your public servants some really tough questions, STARTING RIGHT NOW.
Know. Your. Foe.
What does this mean?
The economy Your future is hanging in the balance… literally.
The people running things have no clue how to fix the problem… Even if they did, it’s too big to fix now.
They’ll be using any assets you have left in their hands (i.e.: pensions, 401k’s), and rob you blind to try and “fix” the problem.
You’ll be less wealthy, with fewer supplies, and less freedom to speak your mind.
Those aren’t good things.
Why should I care?
There’s so much to unpack…
Your wealth…
Your legacy…
Anything you plan to leave for future generations…
Getting the basics to live…
All of these things are teetering on the edge.
You should REALLY care.
What Should I Do?
Start thinking about the basics that people will need, and look at those things as potential avenues to protect yourself and as an investment.
Do you know why Berkshire Hathaway’s stock is so expensive?
They touch 90% of your life every day, and you don’t even realize it. That’s inflation/deflation/recession/depression insurance. You’ll still need toilet paper and toothpaste.
You should also tell as many people as you can about what’s happening. Don’t leave people behind, while we still have a window to help them.
A quick way to do that: Share this newsletter… heck, take from it, and do your own. We give you permission…
Take the time to learn more about Parallel Economies, and find alternatives to the things you use today… food, money, and transportation.
GET MOVING ASAP.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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