JD: I want to talk to you about the Coronavirus and its effect on the Stock Market and also crude oil. But let’s go to Coronavirus first. How much of an effect is that having on the Stock Market and the ups and downs that are taking place?
RM: Basically the Coronavirus is fear and uncertainty. Jimmy, there was a game show some years ago where contestants were asked questions that could grow to a million dollars in prize money. The contestants were given three options to find an answer and one was to poll the audience. The audience is much like the Stock Market. It’s sometimes 100% right and sometimes it overshoots or undershoots and drops to 95% right. An external shock like the Coronavirus is likely to create overshoots and undershoots. So right now the Coronavirus is just causing some chaos.
JD: Well Ron I do know that the price of crude oil which is basically determined by OPEC which is an association of oil producing countries and basically the major two would be Russia and Saudi Arabia. They’re having some problems. Russia and Saudi Arabia really not agreeing on what they should do, produce more oil or cut down on the supply of oil. Is that a big game changer as it relates to the Stock Market as well Ron?
RM: It really is Jimmy. This is an interesting but very dangerous game of who is in charge. Russia rejected OPEC’s proposal to cut 1.5 million barrels per day of production. OPEC wanted to raise the oil price by cutting supply. So in response Saudi Arabia not only cut its forward crude to Chinese customers by six or seven dollars. But it also reportedly is looking to raise it’s daily crude output by as many as 2 million barrels. The move by the Saudi’s is supposed to market, share, grab and allow signal to Moscow that they are in charge.
JD: Ron Morro explaining the effects of the Coronavirus and the price of crude oil on the Stock Markets of the world.
We report this information because it is setting the stage for Bible prophecy to be fulfilled.
Ron’s report helps us to see better how the end times scenario of Bible prophecy will come into play. Pestilence which is pandemic disease and a hit on the financial world will put the world in a place for someone to appear with a plan to solve these problems. My study of Bible prophecy indicates to me that person will be the Antichrist. This world is quickly moving into place to accept that world leader. Revelation 13 is the most detailed passage of scripture on how this scenario will unfold. May I suggest you take time to read Revelation 13 and study that passage and compare it to our world’s situation today.
