Gold continues to prove itself at this moment as an alternative currency to the us. Dollar, which is what arguably has been the drag on gold's performance in the cycle. Crude oil futures are still trading within the fib zones and one of the things that i'm going to be watching right here is whether this was a fake out breakdown. A lot of people thought they were going to defend hundred dollar b Brent. Doesn't seem they're doing that. Maybe it's 90 dollar brent. That probably makes a lot of cents as a number, i'm not sure.
MacroVoices Erik Townsend and Patrick Ceresna welcome Dr. Anas Alhajji to the show to discuss the role of the petrodollar system and what the implications would be if other nations settled oil trades in currencies other than the USD. They also discuss the Russian crude price cap proposal and why it can’t possibly work. https://bit.ly/3QDd8IU
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