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Discussing the CNY-Crude with Alasdair Macleod

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With the yuan-denominated crude oil contract ready to begin trading on March 26, we thought we'd check in today with an expert on the significance of this, our pal Alasdair Macleod of GoldMoney.

For this call, I simply asked Alasdair to lay out the short-term and long-term significance of pricing crude oil in something other than U.S. dollars. This new contract not only disrupts the crude oil market, it also impacts gold, forex and geo-politics. So please be sure to listen to this entire podcast and then consider the future implications of this new CNY-Crude contract.

TF


74 Comments

Harley's picture

1st

Gold!

RickshawETF's picture

Silver!

Silver!

Hey, my miners were all down today!  What's up with that ?

Good thing I didn't panic, and jump into Bitcoin . . .

Just sayin'

OOOBuck's picture

Today was a 'nothing burger', but Cdn5 ate it anyhow.

WTI Crude clings to $61.20/bbl vicinity captured in the first few hours of trade, up about 0.75%

BTC held onto its range between 8K and 8.5K despite an onslaught by nay sayers and critics.  Currently holding in $8250/coin vicintiy

Cdn5 moved down about .06% with leading loser Cronos Group (CRON) down 3.21%.  As mentioned earlier in the update... CRON investors are reacting to a recent downgrade by some analysts.  Best was Cannabis Wheaton, up 3.17% despite some cautioning news (see update).

RickshawETF's picture

We've All Heard This Song Before . . .

From The Street.com:

" Sears will have a hard time surviving beyond holiday season 2018. Now, yours truly is on the record all over Google (watch this segment from 2014 here) as saying Sears wouldn't survive beyond 2017. I continue to be amazed by the financial wizardry Lampert and his revolving group of execs pull off. That said, the financial magic can't go on forever -- after a while a company like Sears just runs out tricks and things to monetize. The company's core business is now fully engulfed in the death spiral that I laid out in 2014, and with that comes a quicker pace of cash burn and even more concerned suppliers. We all have an idea what happens next."

Now substitute "gold suppression" for "Sears", and "Central Banks" for "Lampert and his revolving group of execs" and reread . . .

joeblack's picture

what's the over/under

on how many times Craig checked the gold price on the golf course?

billhilly's picture

joeblack...

...my guess is it will be directly in line with the number of golf balls he lost.

admin's picture

Sorry @canary, had to delete

Sorry @canary, had to delete your 600+ repetitive comments from a couple of days ago... hope you don't mind. wink

Also won't be able to do this on the new site, as it disables the save button as soon as you click it once.

Marcus's picture

Ides of March

March is typically a soft month for gold, so don't expect much in the way of an upward trajectory until it, and the FOMC meeting, is in the rear view mirror. Just my 2¢.

Ferd Torgerson's picture

@admin

Why did you delete Canary's posts?

I still had over 300 left to read through.

Ferd

chrtoo's picture

@admin

... and Hap Tip!    ;O)

CHR.

canary's picture

@admin...Thank you.

I think it had something to do with the Firefox not functioning right on my computer...It happened very quickly. If I didn't close this site, the number would be higher.....Anyway, I blame Quantum Physics for that.

I also appreciate members being good sport and adding great humor to that...Thanks.

RickshawETF's picture

@canary

Not Firefox's fault -- it was a Russian hack.  We (Turdville) are getting "hot" on our theories about what shit is coming down next, and the Russians are not quite where they need to be . . .

Misc: It looks like Don Jr. is going to end up paying beaucoup bucks in alimony and child support -- he should have stuck to hookers, like his old man . . .  (Easy peasy, no financial squeezy!)

Angry Chef's picture

Iran, Syria and Saudi Arabia: Top Three Stunning Admissions...

...From the Top U.S. General in the Middle East

Wow. The truth hurts. Old Lyndsey Graham is going to drown his sorrows in a huge batch of Shirley Temple's.

https://www.haaretz.com/middle-east-news/top-three-stunning-admissions-from-the-top-u-s-general-in-the-region-1.5910066

Ronnie 666's picture

Simple Mathematics

If the US has a debt of 21T$ and the Fed has 4.8T$ on its balance sheet why is the US Debt not $26T. I know it is all smoke and mirrors and the Fed is not the US but a private cartel blah blah blah... Total BS.

Marcus's picture

hmmm...

Not much new in this video for most of us, but still a good listen nonetheless:

indiana rod's picture

Canary

Your problem was another reason Hillary lost.

That's number 43.

admin's picture

Hahaha.... very funny Ferg.

Hahaha.... very funny Ferg. :)

@canary, yes that's not a surprise. I've seen some weird interactions between a browser and mouse -- not just Firefox, but also Chrome and Microsoft Edge, and on lots of sites.

Have had some browser pages get stuck in a scroll-down, and it's impossible to scroll the page back up without closing the tab. Other times a single button click gets in a loop where it performs multiple clicks.

Keeping the browser up-to-date is a good idea, plus also worthwhile to check if there are mouse driver updates.

Welder99's picture

Great Thoughts from Alisdair Macleod

Craig, awesome questions from TMFR, led to deep incites from my favorite British economic guru. Watching the yuan-crude contract settle will be unlike watching Janet’s paint dry.

sryutaro's picture

WATCH LBMA

I remember when I visited LBMA in London in 2012. The air of the office was so odd that I could not feel anyone was working there seriously. I instantaneously knew that LBMA was just a facade which concealed the secret of the price manipulation. The information LBMA is to delay the timing of it's announcement of the precious metal price is much more important than the daily analysis of the price charts. Watch closely and describe their moves to details. 

AGXIIK's picture

Once Bain Capital et al had drained Toys R Us

of anything valuable, the toy store will close every US retail outlet   Toy R US was a big deal, pioneering the toy biz.   Bain Capital is Mitt Romney's little fund that likes to buy businesses, drain them of life force and capital, load them up with debt used to pay billion dollar bonuses to the owners and then bankrupt the company that collapses under debt.   Employees get screwed.  Creditors get screwed.  Shareholders get screwed.   Bain gets rich

Eddie Lamprey Lampert is not done sucking the last drop of life force from Sears.  You'll know he's finished his last blood meal when Sears says  "No Mas", dies an ugly death and closes every retail outlet.   
It's interesting to note that Sears started way over `100 years ago and has survived every economic downturn since the crash of 1887.  It took a special type of evil blood thirsty hedge fund to destroy a century old company.

chocolatechiphorses's picture

Russian Plane Loses 3 Tons Of Gold On Takeoff

m8uhxdvfkyawgdpd3ygo

I know this was posted earlier but without the  picture.   smiley

Bohemian's picture

Just before the sunset --

"Queen Elizabeth II Has A WW3 Speech Written And It's Ready To Deliver" (Zerohedge)

---

“Sometimes I notice I'm demented, especially at sunset.”
Jaroslav Hašek, The Good Soldier Švejk

“And somewhere from the dim ages of history the truth dawned upon Europe that the morrow would obliterate the plans of today.”
Jaroslav Hašek, The Good Soldier Švejk

“Austria's victory crawled out of her latrines.”
Jaroslav Hašek, The Good Soldier Švejk

happycamper515's picture

Gold reset

Wish we could have polls here.  Today there are two articles out calling for a gold reset, one by Bill Holter, and the other by Jim Willie.  JW's one says it's coming "within months".  Just wondering how many subs here actually believe a gold reset is going happen in our life times let alone "within months" ?

StevenBHorse's picture

Poll

Within MY lifetime? Yes 

within the next few months?  No

boomer sooner's picture

Get interview

I always note Alasdair's views.  Thanks

Canary, I was concerned you passed out on the enter button!  Glad to see your alive.

Russian plane.  Anyone notice one of the pics looked like a 1000 ounce silver bar.

silver10sguy's picture

CNY-Crude with Alasdair Macleod

Thanks Turd for covering this topic in detail.   It was helpful to gain a larger perspective.  After decades of the PetroDollar this new paradigm is fascinating.  

nuggety's picture

Russian Gold Spill

Maybe the Russians are sending a message

If the west keeps the pressure up they will spill the beans on GOLD!

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