Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble
By Lulu Yilun Chen
June 25, 2018, 6:19 PM GMT+10
The Alibaba chairman remains an advocate of blockchain tech
Ant Financial starts a blockchain-based remittance service
Billionaire Jack Ma has declared Bitcoin a potential bubble, reiterating his caution over the volatile crypto-currency as his Ant Financial on Monday launched blockchain-based money transfers between Hong Kong and the Philippines.
The founder and chairman of Alibaba Group Holding Ltd. extolled the possibilities of the decentralized ledger on which Bitcoin is based but warned that the digital currency itself may be driven by torrid speculation. Ma made his comments after officially launching a blockchain-based remittance service with Standard Chartered Plc and GCash, Ant’s venture with the Philippines’ Globe Telecom Inc.
Bitcoin set a 2018 low on Sunday before bouncing back a tad, underscoring the volatility that stems from increased scrutiny by regulators even as global central bankers and business chiefs raise questions about its viability.
“Blockchain technology could change our world more than people imagine,” Ma told reporters in the former British colony, home to a large population of Filipino workers and domestic helpers who send money home regularly. “Bitcoin however could be a bubble.”
Read more: Ant Financial Raises $14 Billion as Funding Round Closes
Ant Financial, an affiliate of Alibaba’s backed by some of the biggest names in global finance and investment, has explored blockchain technology for years, including to clean up China’s murky charities. But the remittance service marks one of the first instances of the internet giant using the technology in mainstream finance.
On Monday, Ma also took potshots at the traditional banking industry, saying financial institutions were over-charging for overseas payments. Ant Financial, blocked from buying Moneygram International Inc., now wants to build something better and take blockchain-based remittances beyond just Hong Kong to the Philippines. He didn’t elaborate.
“Traditional financial institutions serve 20 percent of people and make 80 percent of profits. New financial institutions should service 80 percent of people, and make 20 percent of profit,” said Ma.
Sunday, July 1, 2018
Judicial adviser Leonard Leo on what Trump is looking for in a Supreme Court nominee - CBS News
June 28, 2018, 1:49 PM
Judicial adviser Leonard Leo on what Trump is looking for in a Supreme Court nominee
After Supreme Court Justice Anthony Kennedy announced his retirement on Wednesday, President Trump said his replacement would come from a list of 25 possible nominees released by the White House last November. Leonard Leo, executive vice president of the Federalist Society, advises Mr. Trump on judicial nominations and spoke to the president following Kennedy's announcement. Leo, whose group consists of conservative lawyers who want judges to interpret the law as it was written, said Mr. Trump was looking for three things when he created the list:
"One, extraordinarily well qualified. Two, people who are, in his words, not weak. And thirdly, people who are going to interpret the Constitution the way the framers meant it to be, which is the way he put it, which I thought was an interesting way to do it," Leo said Thursday on "CBS This Morning."
Leo said Mr. Trump met with him and suggested the idea of the list.
"It was a novel idea. I told him that no one had ever done it before, but it was an interesting idea because it would tell people where the president stood on the issue of judicial selection. And so he went ahead and decided to do the list," Leo said.
Asked whether he had a leading contender from the list in mind, Leo repeatedly said no.
"The list is really good," Leo said, adding, "You can throw a dart at that list and in my view you would be fine."
A writer in the National Review once wrote, "No one has been more dedicated to the enterprise of building a Supreme Court that will overturn Roe v. Wade than the Federalist Society's Leonard Leo…" But Leo denied the description, saying "it's not about Roe v. Wade" for him.
What does Anthony Kennedy's retirement mean for Roe v. Wade?
"For constitutional conservatives, that's not what it's about. It's about interpreting the Constitution as it's written and basically interpreting the limits on government power because that's really the way to preserve human dignity in our country," Leo said.
He said Roe v. Wade has been used as a "scare tactic" that's gone decades back to the days of Justice Sandra Day O'Connor nomination.
"And nothing has happened to Roe in that period of time," Leo said.
He said people should not be worried about Roe v. Wade "or any other particular case."
Kennedy, a conservative justice, has sided with liberal members of the court from time to time. Leo said he was "personally disappointed" when Kennedy voted with liberals on abortion rights.
"But the fact of the matter is that Justice Kennedy has been a very important conservative member of the court on many very key issues. Obamacare, gun rights, Citizens United. And in many of those instances I think he understood that the Constitution needed to be interpreted as it's written," Leo said. "So he parted company with conservatives on a few key areas, but he understands the importance of the Constitution and the way it's written."
Kennedy will step down effective July 31.
Judicial adviser Leonard Leo on what Trump is looking for in a Supreme Court nominee
After Supreme Court Justice Anthony Kennedy announced his retirement on Wednesday, President Trump said his replacement would come from a list of 25 possible nominees released by the White House last November. Leonard Leo, executive vice president of the Federalist Society, advises Mr. Trump on judicial nominations and spoke to the president following Kennedy's announcement. Leo, whose group consists of conservative lawyers who want judges to interpret the law as it was written, said Mr. Trump was looking for three things when he created the list:
"One, extraordinarily well qualified. Two, people who are, in his words, not weak. And thirdly, people who are going to interpret the Constitution the way the framers meant it to be, which is the way he put it, which I thought was an interesting way to do it," Leo said Thursday on "CBS This Morning."
Leo said Mr. Trump met with him and suggested the idea of the list.
"It was a novel idea. I told him that no one had ever done it before, but it was an interesting idea because it would tell people where the president stood on the issue of judicial selection. And so he went ahead and decided to do the list," Leo said.
Asked whether he had a leading contender from the list in mind, Leo repeatedly said no.
"The list is really good," Leo said, adding, "You can throw a dart at that list and in my view you would be fine."
A writer in the National Review once wrote, "No one has been more dedicated to the enterprise of building a Supreme Court that will overturn Roe v. Wade than the Federalist Society's Leonard Leo…" But Leo denied the description, saying "it's not about Roe v. Wade" for him.
What does Anthony Kennedy's retirement mean for Roe v. Wade?
"For constitutional conservatives, that's not what it's about. It's about interpreting the Constitution as it's written and basically interpreting the limits on government power because that's really the way to preserve human dignity in our country," Leo said.
He said Roe v. Wade has been used as a "scare tactic" that's gone decades back to the days of Justice Sandra Day O'Connor nomination.
"And nothing has happened to Roe in that period of time," Leo said.
He said people should not be worried about Roe v. Wade "or any other particular case."
Kennedy, a conservative justice, has sided with liberal members of the court from time to time. Leo said he was "personally disappointed" when Kennedy voted with liberals on abortion rights.
"But the fact of the matter is that Justice Kennedy has been a very important conservative member of the court on many very key issues. Obamacare, gun rights, Citizens United. And in many of those instances I think he understood that the Constitution needed to be interpreted as it's written," Leo said. "So he parted company with conservatives on a few key areas, but he understands the importance of the Constitution and the way it's written."
Kennedy will step down effective July 31.
Report: Merkel secures deal with 14 EU nations on migrants - ABC News
Report: Merkel secures deal with 14 EU nations on migrants
By DAVID RISING, ASSOCIATED PRESS BERLIN — Jun 30, 2018, 12:56 PM ET
German Chancellor Angela Merkel speaks during a media conference at an EU summit in Brussels, Friday, June 29, 2018. European Union leaders cried victory Friday, claiming to have set aside major differences over how best to handle migrant arrivals. (The Associated Press
German Chancellor Angela Merkel speaks during a media conference at an EU summit in Brussels, Friday, June 29, 2018. European Union leaders cried victory Friday, claiming to have set aside major differences over how best to handle migrant arrivals. (AP Photo/Geert Vanden Wijngaert)more +
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German Chancellor Angela Merkel has reportedly secured agreements with 14 European Union countries to rapidly return some asylum seekers as she seeks to end a schism in her government over migration policy.
Merkel also says she also wants to establish "anchor centers" to process migrants at Germany's borders, the dpa news agency reported Saturday.
The announcements came in a letter Merkel wrote to leaders of her Christian Democratic Union's Bavaria-only sister party, the Christian Social Union, as well as to her junior coalition government partner, the Social Democrats, after she attended a two-day EU summit in Brussels.
Merkel is seeking to end a three-week standoff with her hard-line Interior Minister Horst Seehofer, who heads the CSU.
Seehofer, whose party faces a state election in the fall, has been threatening to turn away migrants at Germany's border who have already been rejected by the country or who have registered for asylum elsewhere in the EU.
Merkel has rejected that approach, instead insisting on a European-wide solution to migration issues to preserve EU unity. The dispute has raised the possibility of an end to Germany's decades-old conservative alliance between the CSU and Merkel's CDU if Seehofer goes ahead with the unilateral move, which could bring down her government.
Both the CDU and the CSU are holding separate meetings Sunday to discuss Merkel's latest efforts on migration and plot their next steps.
Merkel on Friday came away from an EU summit with agreements from Greece and Spain to take back migrants previously registered in those countries, and an overall agreement by the 28-nation bloc to ease the pressures of migration into Europe.
In the eight-page letter obtained Saturday by dpa, the chancellor said that she had also secured agreement with half of the EU nations to return migrants to them if they'd first registered in those countries.
The countries included Hungary, Poland and the Czech Republic, which have all been harsh critics of Merkel's welcoming stance to migrants, as well as Belgium, France, Denmark, Estonia, Finland, Lithuania, Latvia, Luxembourg, the Netherlands, Portugal and Sweden.
Officials in Hungary and the Czech Republic, however, both said later Saturday that they had not signed any deal on migrants.
Asked about the Czech comment, Merkel's spokesman told dpa that the country "had expressed a willingness to negotiate an administrative agreement on improved cooperation on repatriation."
In the letter, the chancellor threw her support behind establishing large collection centers in Germany for migrants as their cases are processed. Dpa reported the centers would be used for migrants who attempt to bypass border controls and for those whose cases don't fall under bilateral return agreements.
Whether the combination of the bilateral measures and EU agreement is enough to placate the CSU is not yet clear.
Top CSU lawmaker Markus Soeder, Bavaria's governor, on Saturday praised the EU agreement as more than his party had expected, but at the same time suggested that it left open the possibility of unilateral national measures as well.
Merkel's office told dpa, however, that interpretation was wrong, saying "unilateral measures at the expense of other countries are not what is meant."
In neighboring Austria, Chancellor Sebastian Kurz again urged a European solution to migration, warning in the Bild newspaper that if the southern German region of Bavaria undertook unilateral measures it would create a "domino effect" as Austria and other EU nations then closed their borders one-by-one.
"Our goal remains a joint European solution with orderly protection of the exterior borders, and centers in third countries,' said Kurz, whose nation took over the rotating EU presidency on Saturday. "That way we can also preserve a Europe without internal borders."
By DAVID RISING, ASSOCIATED PRESS BERLIN — Jun 30, 2018, 12:56 PM ET
German Chancellor Angela Merkel speaks during a media conference at an EU summit in Brussels, Friday, June 29, 2018. European Union leaders cried victory Friday, claiming to have set aside major differences over how best to handle migrant arrivals. (The Associated Press
German Chancellor Angela Merkel speaks during a media conference at an EU summit in Brussels, Friday, June 29, 2018. European Union leaders cried victory Friday, claiming to have set aside major differences over how best to handle migrant arrivals. (AP Photo/Geert Vanden Wijngaert)more +
German Chancellor Angela Merkel has reportedly secured agreements with 14 European Union countries to rapidly return some asylum seekers as she seeks to end a schism in her government over migration policy.
Merkel also says she also wants to establish "anchor centers" to process migrants at Germany's borders, the dpa news agency reported Saturday.
The announcements came in a letter Merkel wrote to leaders of her Christian Democratic Union's Bavaria-only sister party, the Christian Social Union, as well as to her junior coalition government partner, the Social Democrats, after she attended a two-day EU summit in Brussels.
Merkel is seeking to end a three-week standoff with her hard-line Interior Minister Horst Seehofer, who heads the CSU.
Seehofer, whose party faces a state election in the fall, has been threatening to turn away migrants at Germany's border who have already been rejected by the country or who have registered for asylum elsewhere in the EU.
Merkel has rejected that approach, instead insisting on a European-wide solution to migration issues to preserve EU unity. The dispute has raised the possibility of an end to Germany's decades-old conservative alliance between the CSU and Merkel's CDU if Seehofer goes ahead with the unilateral move, which could bring down her government.
Both the CDU and the CSU are holding separate meetings Sunday to discuss Merkel's latest efforts on migration and plot their next steps.
Merkel on Friday came away from an EU summit with agreements from Greece and Spain to take back migrants previously registered in those countries, and an overall agreement by the 28-nation bloc to ease the pressures of migration into Europe.
In the eight-page letter obtained Saturday by dpa, the chancellor said that she had also secured agreement with half of the EU nations to return migrants to them if they'd first registered in those countries.
The countries included Hungary, Poland and the Czech Republic, which have all been harsh critics of Merkel's welcoming stance to migrants, as well as Belgium, France, Denmark, Estonia, Finland, Lithuania, Latvia, Luxembourg, the Netherlands, Portugal and Sweden.
Officials in Hungary and the Czech Republic, however, both said later Saturday that they had not signed any deal on migrants.
Asked about the Czech comment, Merkel's spokesman told dpa that the country "had expressed a willingness to negotiate an administrative agreement on improved cooperation on repatriation."
In the letter, the chancellor threw her support behind establishing large collection centers in Germany for migrants as their cases are processed. Dpa reported the centers would be used for migrants who attempt to bypass border controls and for those whose cases don't fall under bilateral return agreements.
Whether the combination of the bilateral measures and EU agreement is enough to placate the CSU is not yet clear.
Top CSU lawmaker Markus Soeder, Bavaria's governor, on Saturday praised the EU agreement as more than his party had expected, but at the same time suggested that it left open the possibility of unilateral national measures as well.
Merkel's office told dpa, however, that interpretation was wrong, saying "unilateral measures at the expense of other countries are not what is meant."
In neighboring Austria, Chancellor Sebastian Kurz again urged a European solution to migration, warning in the Bild newspaper that if the southern German region of Bavaria undertook unilateral measures it would create a "domino effect" as Austria and other EU nations then closed their borders one-by-one.
"Our goal remains a joint European solution with orderly protection of the exterior borders, and centers in third countries,' said Kurz, whose nation took over the rotating EU presidency on Saturday. "That way we can also preserve a Europe without internal borders."
Migrant crisis: Italy minister Salvini closes ports to NGO boats - BBC News
Migrant crisis: Italy minister Salvini closes ports to NGO boats
30 June 2018
Why is the Aquarius migrant rescue ship empty?
Migrants saved by boats run by non-governmental organisations will not be allowed into Italy, rightwing Interior Minister Matteo Salvini says.
Mr Salvini has often accused the NGOs of encouraging the trafficking of migrants. He told Corriere della Sera these NGOs were no longer "legitimate".
He also hailed the agreement reached by European Union leaders in Brussels that Italy hopes will lessen its burden.
Thousands of migrants, mainly from African countries, have reached Italy.
Gruelling migration talks end in draw
Reality Check: Is Italy taking in thousands of migrants?
The number is 95% lower than at the peak of the crisis in 2015, the EU says, but started to rise again recently.
What did leaders agree on Thursday?
Several Central European states have so far rejected an EU scheme to relocate 160,000 refugees from overcrowded camps in Greece and Italy.
Mr Salvini posted an image on his Facebook, showing one of the rescue boats, with the hashtag #closetheports.
His message read: "Halt the mafia of human trafficking: the fewer that depart, the fewer will perish."
Italy has complained about the lack of solidarity and its new government sparked a crisis earlier this month when it did not allow a boat full of migrants, the Aquarius, to disembark. Spain agreed to take them after days at sea.
The Brussels summit agreement foresees the creation of secure centres to receive migrants in EU countries on a voluntary basis - but it does not specify where.
President Emmanuel Macron of France, for instance, said hours after the deal that they would be in countries where migrants arrived first - such as Italy and Greece, but not France.
Italy insists these may be set up anywhere in the EU.
What did Merkel negotiate?
The migration procedure, known as the Dublin Regulation, means migrants should register in the first EU country they arrive. Front-line countries want this changed.
The deal will likely help to stabilise Angela Merkel's rocky coalition
The issue has destabilised the governing coalition led by German Chancellor Angela Merkel.
Mrs Merkel's key ally, Interior Minister Horst Seehofer, has threatened to start turning away migrants who have already registered elsewhere.
So the German chancellor says she has struck bilateral agreements with 14 countries to return migrants registered there if their claims to asylum in Germany have been rejected.
Spain and Greece have also agreed to take back migrants, but not Italy or Austria - both run by populist governments.
And Hungary, one of the countries listed by the German media, said no such agreement had been reached, either.
European press says migrant deal 'fragile'
Merkel's Bavarian ally threatens migrant mutiny
Trapped in a country everyone wants to leave
Migrant crisis: EU border force Frontex explained
What do aid agencies say?
NGOs have fiercely condemned the Brussels deal, saying it betrays vulnerable people and those trying to stop them dying in the Mediterranean.
The deal also aimed to "demonise non-governmental search and rescue operations", MSF's emergencies chief Karline Kleijer said.
On Friday, around 100 people were said to have drowned off the Libyan coast, with 16 rescued.
30 June 2018
Why is the Aquarius migrant rescue ship empty?
Migrants saved by boats run by non-governmental organisations will not be allowed into Italy, rightwing Interior Minister Matteo Salvini says.
Mr Salvini has often accused the NGOs of encouraging the trafficking of migrants. He told Corriere della Sera these NGOs were no longer "legitimate".
He also hailed the agreement reached by European Union leaders in Brussels that Italy hopes will lessen its burden.
Thousands of migrants, mainly from African countries, have reached Italy.
Gruelling migration talks end in draw
Reality Check: Is Italy taking in thousands of migrants?
The number is 95% lower than at the peak of the crisis in 2015, the EU says, but started to rise again recently.
What did leaders agree on Thursday?
Several Central European states have so far rejected an EU scheme to relocate 160,000 refugees from overcrowded camps in Greece and Italy.
Mr Salvini posted an image on his Facebook, showing one of the rescue boats, with the hashtag #closetheports.
His message read: "Halt the mafia of human trafficking: the fewer that depart, the fewer will perish."
Italy has complained about the lack of solidarity and its new government sparked a crisis earlier this month when it did not allow a boat full of migrants, the Aquarius, to disembark. Spain agreed to take them after days at sea.
The Brussels summit agreement foresees the creation of secure centres to receive migrants in EU countries on a voluntary basis - but it does not specify where.
President Emmanuel Macron of France, for instance, said hours after the deal that they would be in countries where migrants arrived first - such as Italy and Greece, but not France.
Italy insists these may be set up anywhere in the EU.
What did Merkel negotiate?
The migration procedure, known as the Dublin Regulation, means migrants should register in the first EU country they arrive. Front-line countries want this changed.
The deal will likely help to stabilise Angela Merkel's rocky coalition
The issue has destabilised the governing coalition led by German Chancellor Angela Merkel.
Mrs Merkel's key ally, Interior Minister Horst Seehofer, has threatened to start turning away migrants who have already registered elsewhere.
So the German chancellor says she has struck bilateral agreements with 14 countries to return migrants registered there if their claims to asylum in Germany have been rejected.
Spain and Greece have also agreed to take back migrants, but not Italy or Austria - both run by populist governments.
And Hungary, one of the countries listed by the German media, said no such agreement had been reached, either.
European press says migrant deal 'fragile'
Merkel's Bavarian ally threatens migrant mutiny
Trapped in a country everyone wants to leave
Migrant crisis: EU border force Frontex explained
What do aid agencies say?
NGOs have fiercely condemned the Brussels deal, saying it betrays vulnerable people and those trying to stop them dying in the Mediterranean.
The deal also aimed to "demonise non-governmental search and rescue operations", MSF's emergencies chief Karline Kleijer said.
On Friday, around 100 people were said to have drowned off the Libyan coast, with 16 rescued.
Trump urges Saudis to raise oil output 'by two million barrels' - BBC News
Trump urges Saudis to raise oil output 'by two million barrels'
30 June 2018
President Trump and King Salman of Saudi Arabia discussed oil production by phone
US President Donald Trump has urged Saudi Arabia to sharply increase its oil production to combat the rising cost of fuel.
Mr Trump tweeted that he had asked Saudi ruler King Salman to raise oil output by up to two million barrels a day.
"Prices to [sic] high! He has agreed!" the president added.
Mr Trump said the move was needed due to "turmoil and dysfunction in Iran and Venezuela".
Oil prices rose last week, partly due to US plans to reimpose sanctions on Iran, a major oil producer.
The Opec oil producers' group agreed to increase output, as did Russia, but this failed to reassure markets.
US tells allies to halt Iran oil imports
The impact of Iran sanctions - in charts
Oil hits $75 as Iran sanction fears mount
The Saudi Press Agency confirmed that President Trump and King Salman had spoken by phone, giving few details. It said they had discussed the need to "preserve the stability of the oil market".
The statement did not confirm that Saudi Arabia had agreed to the two million barrels a day figure.
Donald J. Trump
✔
@realDonaldTrump
Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference...Prices to high! He has agreed!
9:37 PM - Jun 30, 2018
Saudi Arabia is the world's biggest exporter of oil and produced about 10 million barrels a day in May. It is reported to have between 1.5 million and two million barrels a day of spare capacity - but experts told The Wall Street Journal it might not be keen to meet the president's request.
"Saudi Arabia does not really like going beyond 11 million barrels a day and has no intention of expanding its current production capacity. It is expensive," a Saudi official told the paper.
Mr Trump has repeatedly criticised Opec even though US ally Saudi Arabia is a core member.
On 20 April he tweeted that oil prices were "artificially very high", saying this was "no good" and "will not be accepted!"
Skip Twitter post 2 by @realDonaldTrump
Donald J. Trump
✔
@realDonaldTrump
Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!
Trump targets Opec over high oil prices
Iran, another Opec member, has accused Mr Trump of trying to politicise the group and has blamed Riyadh for doing his bidding.
On Saturday, Iranian Supreme Leader Ayatollah Ali Khamenei said the US was trying to drive a wedge between Iranians and their government using "economic pressure".
"Six US presidents before him tried this and had to give up," Mr Khamenei cautioned on his website.
The value of Iran's currency, the rial, has tumbled since Washington backed out of the Iran nuclear deal in May.
Earlier this week, thousands of traders at Tehran's Grand Bazaar marched in protest against rising prices and the plummeting value of the rial. It was the biggest protest the city has seen since 2012.
30 June 2018
President Trump and King Salman of Saudi Arabia discussed oil production by phone
US President Donald Trump has urged Saudi Arabia to sharply increase its oil production to combat the rising cost of fuel.
Mr Trump tweeted that he had asked Saudi ruler King Salman to raise oil output by up to two million barrels a day.
"Prices to [sic] high! He has agreed!" the president added.
Mr Trump said the move was needed due to "turmoil and dysfunction in Iran and Venezuela".
Oil prices rose last week, partly due to US plans to reimpose sanctions on Iran, a major oil producer.
The Opec oil producers' group agreed to increase output, as did Russia, but this failed to reassure markets.
US tells allies to halt Iran oil imports
The impact of Iran sanctions - in charts
Oil hits $75 as Iran sanction fears mount
The Saudi Press Agency confirmed that President Trump and King Salman had spoken by phone, giving few details. It said they had discussed the need to "preserve the stability of the oil market".
The statement did not confirm that Saudi Arabia had agreed to the two million barrels a day figure.
Donald J. Trump
✔
@realDonaldTrump
Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference...Prices to high! He has agreed!
9:37 PM - Jun 30, 2018
Saudi Arabia is the world's biggest exporter of oil and produced about 10 million barrels a day in May. It is reported to have between 1.5 million and two million barrels a day of spare capacity - but experts told The Wall Street Journal it might not be keen to meet the president's request.
"Saudi Arabia does not really like going beyond 11 million barrels a day and has no intention of expanding its current production capacity. It is expensive," a Saudi official told the paper.
Mr Trump has repeatedly criticised Opec even though US ally Saudi Arabia is a core member.
On 20 April he tweeted that oil prices were "artificially very high", saying this was "no good" and "will not be accepted!"
Skip Twitter post 2 by @realDonaldTrump
Donald J. Trump
✔
@realDonaldTrump
Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!
Trump targets Opec over high oil prices
Iran, another Opec member, has accused Mr Trump of trying to politicise the group and has blamed Riyadh for doing his bidding.
On Saturday, Iranian Supreme Leader Ayatollah Ali Khamenei said the US was trying to drive a wedge between Iranians and their government using "economic pressure".
"Six US presidents before him tried this and had to give up," Mr Khamenei cautioned on his website.
The value of Iran's currency, the rial, has tumbled since Washington backed out of the Iran nuclear deal in May.
Earlier this week, thousands of traders at Tehran's Grand Bazaar marched in protest against rising prices and the plummeting value of the rial. It was the biggest protest the city has seen since 2012.
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