The Saudis want the price of a barrel of oil to go to $70

Forbes has a nice piece on the "new bond king', Jeffrey Gundlach. We don't need another rich bastard to tell us how to live our lives, but there is a reason why the media loves them: they can talk without holding anything back.

I especially like his view on macroeconomics. For example, he said, "With a tightening, the dollar is going to not just be strong, but it will run up like a scalded dog. If that happens, then commodity prices are going down, we will import deflation and you will see an episode of deflationary scare." 

What really got me thinking is his oil prospect: "I am convinced the Saudis want the price of a barrel of oil to go to $70. They don't care if they run a short-term deficit if it slows down U.S. fracking and turns the screws on countries in their region that mean them harm." I don't think fracking will stop. Technology will only make the break-even price lower. But the Saudis can really "screws" the Iranians and Russians. If Putin loses his power, he should know who to blame.