Stated more simply and with demographic considerations for BRICS buying outside USDThe second key implication of the above is that if key EM’s can use net gold settlement to “print local FX for oil and other commodities”, those EM’s can no longer run out of USD FX reserves by importing too many commodities to drive domestic economic growth.Multi-currency commodity pricing means USD FX reserves are no longer the governor on EM economic growth, and therefore on EM commodity demandGiven that China’s per capita oil consumption was 1/5 the US in 2021 (and China has 1.4 billion people), while India’s per capita oil consumption was 1/15 the US in 2021 (India also has 1.4 billion people)… …demand for commodities like oil, gas, and copper should EXPLODE higher over time as 2.8 billion people who currently use 1/15-1/5 the amount of oil as the US per capita gain a greater ability to “print local currency for commodities” like the US always has been able to do, via local goods and net gold settlement!Especially since ~50% of global oil exports are either already or soon to be members of the BRICS
Gold is simply a derivative of energy which is the master resource for growth and stability.
Resources and PM bull market unfolding and most asleep at the wheel working off the old GAGFO - Good as Gold for Oil re USTs
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Last
37.5¢ |
Change
-0.010(2.60%) |
Mkt cap ! $168.4M |
Open | High | Low | Value | Volume |
38.5¢ | 38.5¢ | 37.0¢ | $388.2K | 1.026M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 133096 | 37.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
37.5¢ | 100785 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 121816 | 0.370 |
4 | 56085 | 0.365 |
4 | 182261 | 0.360 |
6 | 43015 | 0.355 |
10 | 228015 | 0.350 |
Price($) | Vol. | No. |
---|---|---|
0.375 | 101045 | 3 |
0.380 | 338924 | 7 |
0.385 | 450739 | 12 |
0.390 | 376186 | 4 |
0.395 | 218353 | 5 |
Last trade - 13.00pm 12/09/2024 (20 minute delay) ? |
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