Markets are bigger than central banks

China is the second largest economy in the world, but the markets have more money than China, the markets have more money than everybody. One might be able to manipulate prices for a day, a week, or a month, but in the end the markets are bigger than central banks, governments, and everybody else. 

Oil price manipulation

What is happening with oil is that Saudi Arabia has dumped oil because America was negotiating with Iran and those negotiations hit their deadline last July and were extend. It was shortly after that when Saudi Arabia began dumping oil because America said ‘we need to dump oil to put pressure on Iran and Russia.’ Saudi Arabia was happy to do it because it would slow down the frackers, it won’t stop the frackers, but it will slow them down by bringing some sanity to fracking. I mean those guys are borrowing staggering amounts of money at relatively low interest rates, so that will bring some sanity to fracking markets as well. So this is all a political move that has happened because Saudi Arabia has enough staying power and enough oil to knock down the price of oil.