Wednesday, October 17, 2018

Tit for Tat


It appears that Jamal Khashoggi (see https://gordonfeil.blogspot.com/2018/10/saudi-crown-prince-on-skids.html) is dead. The Saudis have said something about an “interrogation gone wrong.” How is it possible that you walk into your country’s consulate in a foreign country to renew your passport and you die from the interrogation? What a cruel system which has no respect for human life. I cannot believe that ever happening at a consulate of a modern nominally Christian democracy. But, of course, Saudi Arabia is none of that description.

So now President Trump is threatening reprisals, and from the Saudis is the retort that the world will be pushed to economic disaster if that happens, no doubt an implied threat of oil production cutbacks. The Saudis can try that, but this is not 1973. The industry is very different now. There are the Canadian tar sands, the American fracking industry, and Russian production --- lots of oil to be sold at the high prices that might initially result from a Saudi cutback. I suspect that in the end, the Saudis would only be reducing their own income without accomplishing anything.

Let’s hope so. There is nothing about Saudi conduct that deserves a rich reward methinks.

Sunday, July 15, 2018

Restoring the Year of Jubilee


At http://gordonfeil.blogspot.com/2018/07/modern-50-year-jubilee.html I have posted an article about the restoration of the ancient law of the Jubilee Year. Serious (and healthy) economic consequences methinks.

Wednesday, July 4, 2018

Golden Words


I wonder how well known it is that China is the world’s leading gold producer….by far.  426 tonnes in 2017…..way ahead of #2 Australia (295 tonnes). South Africa?  140 tonnes. Even Indonesia and Peru each produced more. Annual production worldwide is about 100 million ounces. There are about 6 billion refined ounces in the world.