Warren Patterson, head of commodities strategy at ING, discusses the current state of oil markets, demand from China and his outlook for commodities. He speaks on Bloomberg Television.
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14 Comments
Skok
DO THE MATH THAT AS I'VE SAID MANY TIMES ALREADY THAT ———- > MORE AND MORE AND MORE AND MORE DEBT PROBLEMS ARE THE BIGGEST EVER IMPETUS TO PUSH UP THE COMMODITY PRICES < ———— SIMPLY SPEAKING THE AGGREGATE M2 SUPPLY FROM USA CHINA EUROPE + JAPAN + ALMOST ALL OF CENTRAL BANKS ALREADY DID OUTPACE THE AGGREGATE COMMODITY SUPPLY MORE THAN + 289% TO THE WORLD GDP IN CONSERVATIVE POINT OF VIEW MEANS ——— > ALMOST SIMILAR RESULT WE CAN GET IT WITH THE WORLD DEBT TO WORLD GDP RATIO THAT NOW MORE THAN + 310% +/- 10% BASED ON S&P GLOBAL DATA ABOUT A MONTH AGO RELEASED!!!!!!!!!!!!!!!!!!!!!!!:)
AGAIN AND AGAIN QUESTION YOURSELF IN ESSECE WHY GOLD PRICE IS GOING HIGHER AND HIGEHR AND HIGHER AS I'VE SAID MANY TIMES SINECE THE END OF 3RD Q OF 2021YR THROUGH WHOLE YEAR OF 2022YR TILL NOW?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:) AS I'VE SAID MANY TIMES ———- > IT IS ALL BECAUSE OF IMBALANCE BETWEEN THE AGGREGATE DEBT VS THE AGGREGATE SUPPLY FROM TOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO BUBBLED ALMOST ALL OF CURRENCIES ESP FROM CHINA USA EUROPE + JAPAN + ALMOST ALL OF ECONOMIES BASED ON TOOOOOOOOOOOOOOOOOOOOOOOO LOW MONEY PRICE = INTEREST RATE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
AGAIN AND AGAIN ONE BY ONE ONE AFTER ANOTHER THE COMMODITY PRICES HAVE NO OTHER BUT TO HIKE FURTHER AND FURTHER MORE AND MORE AND MORE AND MORE EVEN AFTER 2030YR BECAUSE OF THE IMBALANCE BETWEEN AGGREGATE M2 SUPPLY VS AGGREGATE COMMODITY SUPPLY —— > THAT IS 1+ 1 = 2 MATH QUESTION TO FIGURE OUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
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NOW GOLD PRICE IS AS I'VE SAID ALREADY THAT ——— > IT IS A JUST MATTER OF TIME TO RECOVERING ITS 2K$ RANGE AFTER THE FED'S ONLY HIKED 25BP OF ITS FUNDS RATE MEANS ——— > WHAT ABOUT MAY 03RD? MOST LIKELY FED IS GOING TO STOP HIKING ITS FUNDS RATE IN THE FOMC MEETING OF MAY 03RD 2023 ———– > MEANS GOLD PRICE IS HEADING DIRECTLY TOWARDS 2.5K$ RANGE AFTER MAY 03RD FOMC MEETING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
AGAIN AND AGIAN INEVITABLY THERE WILL BE MORE AND MORE AND MORE AND MORE AND MORE STAGFLATION HURRICAINING THE ECONOMY ESP CHINA USA EUROPE THAT ———- > THE BIGGEST EVER IMBALANCE BETWEEN THE AGGREGATE M2 SUPPLY VS THE AGGREGATE COMMODITY PRODUCTION FROM TOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO MUCH DEBT SINCE THE BEGINNING OF THE 20TH CENTURY IS THE SUPER IMPETUS FOR THE COMMODITY PRICE SUPER HIKING CYCLE!!!!!!!!!!!
THERE WILL BE MORE AND MORE AND MORE AND MORE AND MORE BANKING SYSTEM'S FAILURES ESP HSBC SC UBS WELLS FARGO + HUARONG + MORE AND MORE AND MORE AND MORE CHINESE PENSION FUNDS = INSURANCE COMPANIES + LOCAL BANKS + EVEN STATE OWNED BANKS WILL BE GOING DOWN AND DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:) < ————- TOO MUCH DEBT PROBLEMS ARE INEVITABLY GOING ON AND ON AND ON AND ON BECAUSE THEY CANNOT HIKE INTEREST RATES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
AS I'VE SAID MANY TIMES ALREADY THAT DO THE MATH ——- > UBS'S BANKRUPTCY IS INEVITABLE EVENT WE ARE GOING TO SEE THAT BECAUSE ———- > MATHEMATICALLY NO MAKE ANY SENSE OF TAKING OVER CS BY UBS BASED ON JUST + 3.4B$ AGAINST TREMENDOUS 700B$ DEFAULTED DEBT OF CS < ——— MAKE ANY SENSE?!!!!!!!!!!!!!!!!!!!!!!!!!!!! NO WAY EVEN SNB = SWISS ITSELF WILL BE GOING TO ITS NATIONAL DEFAULT BECAUSE NOW THERE ARE ALREADY MONEY FLOWS GETTING OUT OF SWISS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
AGAIN AND AGAIN THERE IS NO MORE 'THE LAW OF SUPPLY AND DEMAND' WORKING IN THE ECONOMY FROM ONE OF GOOD MATHEMATICAL EXAMPLES, IS THE BROKEN ' PHILLIPS CURVE' MEANS —— > AGAIN DEBT TO GDP RATIO IS DECIDING THE COMMODITY PRICES ESP GOLD + ENERGY THAT'S WHY THERE WILL BE MORE AND MORE AND MORE AND MORE AND MORE STAGFLATION COMING TO HURRICANE THE ECONOMY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
AGAIN AND AGAIN THERE IS NO MORE 'THE LAW OF SUPPLY AND DEMAND' WORKING IN THE ECONOMY FROM ONE OF GOOD MATHEMATICAL EXAMPLES, IS THE BROKEN ' PHILLIPS CURVE' MEANS —— > AGAIN DEBT TO GDP RATIO IS DECIDING THE COMMODITY PRICES ESP GOLD + ENERGY THAT'S WHY THERE WILL BE MORE AND MORE AND MORE AND MORE AND MORE STAGFLATION COMING TO HURRICANE THE ECONOMY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
AGAIN AND AGAIN THERE IS NO MORE 'THE LAW OF SUPPLY AND DEMAND' WORKING IN THE ECONOMY FROM ONE OF GOOD MATHEMATICAL EXAMPLES, IS THE BROKEN ' PHILLIPS CURVE' MEANS —— > AGAIN DEBT TO GDP RATIO IS DECIDING THE COMMODITY PRICES ESP GOLD + ENERGY THAT'S WHY THERE WILL BE MORE AND MORE AND MORE AND MORE AND MORE STAGFLATION COMING TO HURRICANE THE ECONOMY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:)
i was told oil was hitting $200. i sold my kids to buy shovels to dig a huge pit in my backyard for all of the oil i was going to store!
It's pretty simple. The China reopening story has been negated by the fact that Russia is increasing their oil shipments, and, they trade directly with China… So…. the China reopening is NO FACTOR (thanks to Russia).