Is Saudi riyal about to blow? Are you short?

There was a story posted on Zerohedge and Tom Hickey posted it here about how Saudi Arabia is now either contemplating or starting to pay contractors with IOU's.

Either or, it's a sign that there could be a full blown dollar liquidity crisis brewing there.

As you know the Saudi's peg their currency--the riyal--to the dollar at $3.75. That costs reserves and while they have quite a lot of reserves they also need that for servicing dollar denominated debt, which has skyrocketed in the past two years.

And we all know that oil prices are way low.

So the question is, will this put pressure on the Saudi's to abandon the dollar peg? If so, the riyal will collapse.

I am short a small riyal position and I have been for a while. You can short it on Oanda and it just so happens that I teach my Forex course on Oanda.

So, if you are interested in making a bet on what could be a massivfe trade and you do not yet trade Forex, get the skills. Buy my video course. It's $250 for 25 hours of instruction, plus MMT, plus Mental Game, plus Market Composition.

Get the Forex course.

Goofball "Rich Dad, Poor Dad" guy calling for a major crash. So go all in!

Remember that goofball, Robert Kiyosaki? He's the author of "Rich Dad, Poor Dad." He wrote that book, got famous, and then started giving seminars about eight or nine years ago. I think at one time Trump was even involved with him. Kiyosaki's promotion company is bankrupt now and he's being sued, but that's a whole other story.

I just saw that he's back and he's calling for a major crash, a crash he says he predicted in 2002. Should you be scared? No. It's a gift.

Kiyosaki is clueless. Here are some of his other predictions: He was telling people to buy silver and gold several years ago because there was going to be hyperinflation. He had the same, ridiculous reasoning as morons like Schiff and Jim Rogers and Glenn Beck. Idiots. 

Now he's been screaming Japan debt crisis and China on the ropes with debt, blah, blah, blah. All the usual idiotic goofball stuff a la Kyle Bass and other idiots.

Here's what you do when you see a guy who is totally clueless yet goes around making embarrassingly wrong predictions: you fade him. Big time.

Fade Kiyosaki on this. You'll be doing a public service and it's free money.

EURUSD, check out this 5-minute move!

Speaks for itself. Cha-ching!

Biggest Problem Is That This Discussion Is Even OCCURRING!

(commentary posted by Roger Erickson)

Why the financial system's fairness matters

Ya think? Since when is this a matter of expensive repair, rather than an absolutely necessary part of prevention?

When essays like this start showing up in the daily press, it's far worse than the proverbial shoeshine boy dispensing stock tips.*

It means that the democracy is close to crashing, not just the stock market.


* On top of that, the newspaper (and author) resorts to using a pretty face just to get more people to read it! Doh! What if justice DOES turn out to be blind? But very systemically perceptive? And not easily distracted, confused, divided OR conquered? She might not notice our survival as relevant to progress.

If there are gods, SHE might just smite those claiming to be doing HER work. We can only hope - or just remedy the need for HERA to act?