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Jim Rickards & Rick Rule: Tail risk implications of drop in oil & Russian ruble
Our lead story: After a surprise interest rate hike failed to stem the run on the Ruble, the Russian currency plummeted Tuesday, sinking at one point to beyond 80 to the US dollar, losing as much as 19%. The ruble has plummeted more than 50 percent this year, even after the central bank spent more than $80 billion on intervention. Erin weighs in.
Then, Erin sits down with Rick Rule, CEO of Sprott US Holdings. Royal Bank of Canada has indicated that 35% of 2014 oil production in major and mid-sized upstream oil companies is hedged with an average price of $95.50 a barrel as of November. But only 14% is hedged for 2015. Rick tells us whether earnings in the upstream oil sector can hold up with these hedges in place. He also weighs in on where buying opportunities in the natural resources space outside of oil lie and gives us a view on what’s happening with Canadian and Russian assets.
After the break, Erin is joined by Jim Rickards, chief global strategist at West Shore Funds and author of “The Death of Money.” Jim gives us a roundhouse commentary on the stresses buffeting the global markets right now. Topics include the drop in oil prices, the currency crisis in Russia, and the weakness in Chinese manufacturing data and economic growth.
And in The Big Deal, Erin and Boom Bust producer Edward Harrison discuss tail risk with an eye to fractals, power laws and fat tails. Take a look!
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–
RT report reprinted with permission.
Source: http://thenewsdoctors.com/jim-rickards-rick-rule-tail-risk-implications-of-drop-in-oil-russian-ruble/
