A Discussion of The Dollar, Gold and Chinese Liquidity with Paul Mylchresst
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We've regularly published Paul Mylchreest's insightful analysis for about as long as there has been a TFMR. Whether his work is written independently or for his employer, ADM ISI in London, Paul consistently sees things that few others in the investment world notice and he writes with a clarity that everyone can understand. As you might imagine, it was a tremendous pleasure when, earlier this week, we finally had an opportunity to connect for a podcast.
First of all, let me just state that you are definitely going to want to listen to every minute of this discussion. In fact, many of you will likely end up listening to it more than once! Over the course of these forty minutes, Paul and I:
- Begin by discussing gold
- From there we transition into the close correlation we've seen between Comex Digital Gold and the USDJPY
- We then discuss how and why this correlation exists
- Which leads us to a discussion of the US dollar and its impact on the emerging markets
- Paul then explains what a "global dollar shortage" is and how it comes about
- Paul speculates that dollar liquidity may be the only remaining market force that the Central Banks cannot control
- And from there, the conversation logically circles back around the USDJPY and Comex Digital Gold.
Again, I'm confident that you'll find this discussion to be as fascinating as it is educational. We thank Paul for so willingly sharing his time and expertise and we look forward to speaking with him again soon.
Paul Mylchreest covers Equity & Cross Asset Strategy for ADM Investor Services International in London.
He began his career as a UK equity analyst a month before the crash in 1987. Since then he has covered a wide range of industry sectors, including Pan-European Chemicals, Oil & Gas and Metals and Mining at several well-known investment banks such as UBS (then SG Warburg), Citibank, JPMorgan Chase and the high quality boutique, Redburn Partners. While covering the Metals & Mining sector, he developed a fascination with global macro issues and the interaction of equity markets with bond, commodity, precious metal and money markets.
We've posted many of Paul's writings over the years. Here are just a few:
Friday, January 13, 2017