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Number of Posts:2947
Registered on:10/4/2019
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quote:

Thanks for the update. How was it "intended for China?" Had China paid for it?


This was per CNBC. Assume China was one of the largest customers.

re: Deal cut for Venezuelan Oil

Posted by Free888 on 1/7/26 at 7:53 am to
quote:

Lots of questions

Who is actually in charge of the deal in Venezuela?
Why wouldn’t Venezuela sell the oil to whoever they want?
Is the oil being brought to the US or will be stay in Venezuela?
If coming to the US, who is bringing it?
Are American oil companies included?


Per CNBC
1) They are dealing with “interim’ decision makers in Venezuela
2) We control their shipping lanes
3) Coming to the US
4) TBD
5) US refiners (likely Valero and Phillips)

re: Deal cut for Venezuelan Oil

Posted by Free888 on 1/7/26 at 7:51 am to
This is a perfect example of why you shouldn’t take Trump literally. He tends to “summarize” things a bit, in this case initially saying they were giving us the oil, and the press ran with this. They would be better served going to the relevant cabinet member (in this case Rubio or Wright) and getting the details.
There’s an update to this. It is an initial 30-50 million barrels, with additional sales later. The oil will be given to the US, the US will sell it at market rates, and the proceeds will be placed in various US banks (in escrow esssentially). Once the US deems Venezuela stable, the proceeds will be released to benefit the Venezuelan people. Sanctions are also going to be lifted on Venezuelan oil.

This seems like a reasonable plan.

ETA: This oil was originally intended for China, it will now go to US refiners. Valero and Phillips are expected to be the biggest beneficiaries.
The US will end up signing a 99 year lease for Greenland. Dane’s will get big upfront, probably some royalties on $’s from any extracted minerals.
quote:

The better course after ousting Maduro, he said, was to compel Rodríguez to initiate a transition of power, but the problem is that it doesn’t appear that “anyone in the U.S. is actively engaging in negotiations.”


Which is why she is the only one in Maduro’s circle that doesn’t have a bounty on her head. They’ve been talking to her.
Good. Still think he was a big reason the Eagles lost the 1st SB against KC. He was too busy interviewing for a job instead of game planning.
I wonder if it’s actually a power struggle between the collectivos and the military.

re: Cost for trip to Italy?

Posted by Free888 on 1/5/26 at 3:52 pm to
Whatever your budget, I’d add $4-5 thousand for your wife’s shopping spree in Rome.

re: Switzerland + Northern Italy

Posted by Free888 on 1/5/26 at 3:42 pm to
Grindelwald Switzerland and Lake Maggiore in Italy.

In Lucerne, take a gondola to the top of Mount Pilatus, a cruise on the lake, and take the funicular to Hotel Château Gütsch for a drink.
Moshiri was just on CNBC. He said the investment would be $5-6 Billion and wouldn’t take very long. He mentioned that investments outside of oil are another matter and can’t be ramped up as quickly.

re: 401k advice when swapping jobs ???

Posted by Free888 on 1/4/26 at 8:37 am to
Rolling over a 401k can “cost you money” in some cases. Some plans require the funds to be converted to cash so that a check can be cut to the new custodian. The cost (or benefit) results from the time you’re out of the market. This happened to me last April. I had some money left in an old 401k that I moved into an IRA elsewhere. They cut a check payable to the new custodian, that money was out of the market for about 2-3 weeks. I was lucky because the market took a dive during that time.

That being said, you might be ok since your old 401k is at Fidelity. If you’re planning to rollover to a Fidelity IRA, they may be able to do it in-kind and do it instantaneously. Even if you don’t want to keep it in Fidelity, it’s possible their rules will allow for in-kind transfers elsewhere, however if you’re in institutional funds it could cause the problem I mentioned above.
quote:

Venezuela nationalized their oil and infrastructure in 1979. Chavez terminated leases when he came to power. That’s hardly stealing oil from the US.


You forgot to mention those leases were terminated after US oil companies invested $5 Billion in building the Venezuelan oil infrastructure.
I think this is the US sitting down with the military and telling them they can play along or join Maduro. They’ll install someone quickly that will play along on an interim basis while the US helps rebuild the oil infrastructure.
The precedent is Noriega. I think it will be straightforward.
I think it’s a few things. Trump hates drugs, but I think it’s also a message to the Chinese to stop screwing around in our hemisphere, and to let the Russians know we’re going to neutralize their buddies.
Josh Pate just had a great analogy. Kiffin is like the gold digging wife that divorces the husband, and the day after the divorce is finalized the husband wins the lottery.
Ole Miss should have made an attempt at it.
Just ask the coaches if they’re ok ending it
lol. Kirby Smart, best coach in college football.
quote:

In the 2nd round of the playoffs?


Embarrassed in the 2nd round