What most folks haven't cottoned onto yet as second derivative implications from China and India re energy usage (oil and gas first then onflows into other sectors) is now that they have started buying energy and commodities outside the Petrodollar (USD system since 73 for energy and commodities which ended with confiscation of Russian FX a couple years ago) they can no longer suffer a currency crisis like 1996 as they can use their own currencies to buy oil, copper, iron ore etc and settle any excesses in gold reserves (instead of USDs).
This means they WILL increase their energy usage along with other needs (commodities).
Currently China is 1/5 and India 1/15 of what the US consumes each year per capita.
Lift those USD restrictions and it's game on for ALL commodities this decade and PMs as they are now used to settle trade at the margins and a store of savings (replacing UST's)
This is what most punters through the OECD lens haven't cottoned onto yet.
NWC Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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