Financial Death Vortex (Get your valuables out of the banks)
Channel: Civil Disturbia
Date: 15/01/2016

'Sell everything!' Dire warning from Royal Bank of Scotland as fears mount that markets are set for new crash and oil could plunge to $10 a barrel. 
RBS urged investors to sell everything amid warnings that oil prices could fall to the lowest level in 17 years which may spark a meltdown as severe as the 2008 financial crisis.

The bank told investors stock markets could fall 20 per cent this year as it urged them to sell with a stark warning, saying: 'In a crowded hall, exit doors are small. Risks are high.

The chilling warning came as oil prices fell to $30 a barrel for the first time since 2004 - but Standard Chartered said it might yet fall to as low as $10, not seen since 1998. 
Analysts warned of a ‘cataclysmic year’ ahead for investors and the global economy, BP said it would have to slash 4,000 posts around the world including 600 in the North Sea.

It would be a devastating blow for the North Sea oil industry already reeling from the slump in prices over the past 18 months, which have led pump prices to fall to around a pound a litre.

The horrifying warnings follow a torrid start to the year on financial markets, with billions of pounds wiped off stocks in the UK and elsewhere. 
The FTSE 100 managed to finish up 1 per cent or 57.41 points at 5929.24 at the close on Tuesday, 12 January, the day the note arrived.

London's top stock index saw £85billion wiped off its value after tumbling 5.3 per cent last week, during what is being dubbed the worst start to a New Year ever on world markets.

A string of banks including Barclays, Bank of America Merrill Lynch and Societe Generale have slashed their 2016 oil forecasts this week, while Standard Chartered cautioned that the price could plummet to $10 a barrel.

But RBS sounded the strongest alert, issuing advice to clients saying 'danger is lurking out there for every investor' and 'the downside is crystallising. Watch out. Sell (mostly) everything.'

It went on: 'In a crowded hall, exit doors are small. Risks are high.' Adding 'this looks very much like 2008', RBS suggested taking refuge in US and German government bonds.

UK motorists can look forward to lower petrol prices as the oil price tumbles, but the recent declines are causing chaos on financial markets which could end up tanking the global economy in the worst case scenario.

RAC fuel spokesman Simon Williams said: 'This latest prediction of oil hitting just $10 a barrel would have the potential to take petrol prices down to around 86p per litre – the last time we saw average prices this low was in early 2009. 

'However, for prices to get this low the pound would have to get no weaker against the dollar than it is today.'

He added: 'At $10 a barrel, tax would account for around 84 per cent of the total price per litre – a clear indication of just how high a proportion of every litre we buy goes straight to the Treasury.' 
Source link - Daily Mail (UK) http://www.dailymail.co.uk/news/article-3396092/RBS-issues-sell-alert-fears-mount-10-oil-price.html
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