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

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AGXIIK
Mar 16, 2018 - 11:04am

Everything's going higher except

Personal, corporate and government debt is going higher

Rates are going higher

Stocks are going higher.

Pot smokers are going higher

Lies are going higher

Everything is going higher except gold and silver

It's a damn conspiracy, I tell you. A damnable conspiracy!!!

Angry Chef
Mar 16, 2018 - 11:02am

TRUMP DROPS BOMB ON TRAFFICKERS

Here's another reason The City of London could have it's knickers in a knot. They are an enormous cesspool of pedophiles. I think Putin got the goods on all of them and the Russians were working with General Flynn to oust them as "The City" had infiltrated Washington as well. Just a guess.

TRUMP DROPS BOMB ON TRAFFICKERS
fluxplus
Mar 16, 2018 - 10:59am

Wash cycle

Was it two weeks ago when Turd was calling people names for mentioning wash cycle? I wonder what we call it now?

Mickey
Mar 16, 2018 - 10:47am

Canary

while I agree and that is just a short term bs situation, this is a serious game they, and we are playing and they own the ballpark and have deeper pockets.

While I believe with everything we are closer and closer to the big moment, I have to consider the alternative. It has been almost 7 years since silver was raped that night. And the pounding continues.

Hindsight being 20/15, we all would have put money in FANGs since then and just now start selling to buy phyz.

I am totally amazed at how FB can announce time spent on FB is down 24% and the stock does not tank. Tesla announces 2 top financial execs lean and the stock holds up. A mining company reports decent results and the stock tanks. We have global political problems and the market advances while gold sells. The US is fricking bankrupt illiquid and insolvent and the dollar goes up.

we are in a different world than I grew up in.

Thomas More
Mar 16, 2018 - 10:40am

Nice to hear from you Canary

I thought you had a case of Boutons (french) as in chickenpox.

I missed your take on the Retail Sales number this week - in fact I don't think anyone talked about it!

pabste
Mar 16, 2018 - 10:39am

Just listened to the sport money news

If all these PM companies are making money, why not pay some divies to shareholder? That should spark some buying?

Key Economic Events Week of 11/30

11/30 9:45 ET Chicago PMI
12/1 9:45 ET Markit Manu PMI Nov
12/1 10:00 ET ISM Manu PMI Nov
12/2 8:15 ET ADP Employment Report
12/3 9:45 ET Markit Services PMI Nov
12/3 10:00 ET ISM Services PMI Nov
12/4 8:30 ET BLSBS
12/4 8:30 ET US Trade Deficit Nov
12/4 10:00 ET Factory Orders

canary
Mar 16, 2018 - 10:28am

My prediction......

They will take gold below 200MA, around $1288, before FOMC...to complete the wash of longs on COT.......And only then miners will be allow to go higher.

Angry Chef
Mar 16, 2018 - 10:24am
canary
Mar 16, 2018 - 10:23am

Industrial Production and Capacity Utilization............

High above expectation.

And this from Bloomberg: "And a special sign of strength comes from capacity utilization which jumped 7 tenths to 78.1 percent and which will take the notice of Federal Reserve hawks who are looking for capacity stress and related inflationary risks. Yet one month of strength is only one month and a run of strength, especially in manufacturing, will have to unfold before any immediate inflationary concerns develop".

Mickey
Mar 16, 2018 - 10:14am

Debt clock

the "official" debt to the penny website shows we are approaching 21 trillion of interest bearing debt.

our run rate for the current fiscal year has about 1.6 trillion debt being added.

that has nowhere to go but up due to social security, medicare, medicaid and boomers and immigrants who some of which get welfare and many of which do pay in a little to the system but the minimum benefits are disproportionately high when they retire-and considering everybody else is getting a disproportionately higher of benefit especially given life expectancy, the system is kaput and nobody wants to discuss.

Has anybody seen a 60 minutes segment on the real current state of affairs. Yeah, hard hitting 60 minutes,

Perhaps Colbert and Fallon discuss that in depth on their shows, cause those are where a lot of people get their news.

our debt growth is 1.6 trillion a year or more and our GDP including inflation is 800 billion a year (4% of almost 20 trillion) -we do not need slide rules or PC's to figure this out, do we?

this turns south in a hurry when our creditors pull our lines of credit, just like a business like Toys R US, or I Heart.

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Key Economic Events Week of 11/30

11/30 9:45 ET Chicago PMI
12/1 9:45 ET Markit Manu PMI Nov
12/1 10:00 ET ISM Manu PMI Nov
12/2 8:15 ET ADP Employment Report
12/3 9:45 ET Markit Services PMI Nov
12/3 10:00 ET ISM Services PMI Nov
12/4 8:30 ET BLSBS
12/4 8:30 ET US Trade Deficit Nov
12/4 10:00 ET Factory Orders

Key Economic Events Week of 11/23

11/23 9:45 ET Markit flash PMIs
11/23 1:00 ET Goon Daly
11/23 3:00 ET Goon Evans
11/24 9:00 ET Case-Shiller home prices
11/24 10:00 ET Consumer Confidence
11/24 11:00 ET Goon Bullard
11/24 12:00 ET Goon Williams
11/24 12:45 ET Goon Chlamydia
11/25 8:30 ET Q3 GDP 2nd guess
11/25 8:30 ET Durable Goods
11/25 10:00 ET Personal Inc and Spend
11/25 10:00 ET Core inflation
11/26 US Market holiday

Key Economic Events Week of 11/16

11/16 2:00 pm ET Goon Chlamydia
11/17 8:30 ET Retail Sales
11/17 8:30 ET Import Price Index
11/17 9:15 ET Cap Ute and Ind Prod
11/17 10:00 ET Business Inventories
11/17 1:00 pm ET Chief Goon Powell
11/18 8:30 ET Housing Starts
11/18 1:20 pm ET Goon Bullard
11/19 8:30 ET Jobless claims
11/19 8:30 ET Philly Fed

Key Economic Events Week of 11/9

11/9 1:30 pm ET Goon Mester
11/10 7:30 am ET Goon Kaplan
11/10 10:00 ET JOLTS job openings
11/10 10:00 ET Goon Rosengren
11/11 Veteran's Day. Bond market closed.
11/12 8:30 ET CPI
11/12 11:45 ET Chief Goon Powell
11/12 2:00 pm ET Federal budget
11/13 7:00 ET Goon Williams
11/13 8:30 ET PPI
11/13 8:30 ET Goon Bullard
11/13 10:00 ET Consumer sentiment

Key Economic Events Week of 11/2

11/2 9:45 ET Markit Manu PMI
11/2 10:00 ET ISM Manu PMI
11/2 10:00 ET Construction Spending
11/3 U.S. Election Day
11/4 November FOMC begins
11/4 8:30 ET ADP jobs report
11/4 8:30 ET US Trade Deficit
11/4 9:45 ET Markit Services PMI
11/4 10:00 ET ISM Services PMI
11/5 8:30 ET Productivity & Unit Labor Costs
11/5 2:00 ET FOMC Fedlines
11/5 2:30 ET Chief Goon Powell presser
11/6 8:30 ET BLSBS
11/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/26

10/27 8:30 ET Durable Goods
10/27 10:00 ET Case-Shiller home prices
10/27 10:00 ET Consumer Confidence
10/27 10:00 ET Richmond Fed
10/28 8:30 ET Advance Trade in Goods
10/28 8:30 ET Wholesale Inventories
10/29 8:00 ET ECB monetary policy stmt
10/29 8:30 ET Q3 GDP first guess
10/30 8:30 ET Personal Income and Spending
10/30 8:30 ET Core Inflation
10/30 10:00 ET UMich Consmer Sentiment

Key Economic Events Week of 10/19

10/19 11:45 ET Goon Chlamydia
10/20 8:30 ET Housing Starts
10/20 1:00 pm ET Goon Evans
10/21 10:00 ET Goon Mester
10/21 2:00 pm ET Fed Beige Book
10/22 8:30 ET Initial Jobless Claims
10/23 9:45 ET Markit Oct flash PMIs

Key Economic Events Week of 10/12

10/13 8:30 ET CPI and Core CPI
10/14 8:30 ET PPI
10/14 9:00 ET Goon Chlamydia
10/15 8:30 ET Philly Fed
10/15 8:30 ET Empire State Idx
10/15 8:30 ET Import Price Idx
10/16 8:30 ET Retail Sales
10/16 9:15 ET Cap Ute & Ind Prod
10/16 10:00 ET Business Inv

Key Economic Events Week of 10/5

10/5 9:45 ET Markit Svc PMI
10/5 10:00 ET ISM Svc PMI
10/5 10:45 ET Goon Evans
10/6 8:30 ET Trade Deficit
10/6 10:00 ET JOLTS job openings
10/6 10:45 ET Chief Goon Powell
10/7 2:00 ET Sept FOMC minutes
10/7 3:00 ET Goon Williams
10/8 8:30 ET Initial jobless claims
10/9 10:00 ET Wholesale Inventories
10/9 12:10 ET Goon Rosengren

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Forum Discussion

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by Nijle, Dec 3, 2020 - 11:15am