141: Erik Townsend – Software Millionaire Fooled by ‘The Dream’ and Saved by Global Macro
Chat With Traders
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The Long-Term Outlook for Crude Oil Prices
"I'm bearish in oil prices right now because what's happened is post the great financial crisis. We've had so much easy money in the system that it's led to a malinvestment of overproduction capacity," he says. "If we're going to see another test of sub-30 dollar oil prices like we had a little over a year ago, I don't know." The US dollar will eventually lose its reserve currency status and the US treasury market will be in really big trouble, according to John Defterios.
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