I passed by couple gas stations and I was amazed to see the price falling to US $1.71/gallon.
At first I was happy that I need less money to fill my tank. I started to think and I cannot go
much farther than the store and come back. It took me a week and a half to fill the tank.
So my happiness was short lived.
I really understand the dilemma with the future price of oil on Monday.
I still do not comprehend the reason the price dropped to the negative.
It is clear lack of demand is the culprit but the math and analysis still baffles me.
The beauty of owning crypto and writing on #leofinance is to get to the bottom of this
problem. You do not need to own a fleet of cars, own a refinery in Texas to understand
the deep of the problem.
With covid-19, everything halted to a sudden stop.
Less need of everything except toilet paper.
Price of oil is dropping rapidly cause there is no demand for it. No place to store it.
Nobody wants the oil to use. This is a calamity. In the US it is getting out of hand cause
we pulled off the ground more than we need.
I can see why by May 1st the country will try to open and ease up the pressure.
Just be careful and protect yourself.
Actually in Florida, some of the beaches are open and slowly I can see toilet paper
in Wally world.
We will never get used but we are adapting.
The economy has been traumatized big time and more will hurt if thing does not change.
I am convinced people will behave in a way that will slow the spread.
Now we have the oil price issue, later it could be something else.
If the economy slow down again in May, things could turn south very quick.
Gladly looking everywhere and having a diversified portfolio is a plus.
So far the markets are reacting to the pressure of the moment.
Whatever assets you own do not mean much if we are in a standstill economy.
I see all these things favor #crypto a lot.
Quicker service, less fees to move funds around.
This situation is blockchain friendly.
When things get settle down,
we will need quick remittance to get things moving.
For now #crypto needs fiat to get off the ground.
Many cryptos will benefit from it.
Welcome to finance 101!
Posted via Steemleo
