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In this episode, we’re joined by our special guest, Simon Mikailovich from the Bullion Reserve, along with regular guests Tracy Shuchart and Albert Marko.
First, we looked at systemic risk in the case for hard assets with Simon. When we look at recent events like the BOE intervention in the long-term gilt market, where does he think the next systemic risks could come from? Is it developed more market (European) debt?
Also, Simon discussed how we should be looking at the gold market now. Why is there a divergence between physical gold at the retail level and institutional demand for gold derivatives?
Next, we went into a little bit on OPEC cuts with Tracy. OPEC cut supply by 2m BPD. Everyone has talked about this. We’ve spoken in earlier episodes about a price spike in oil later in Q4, partly owing to SPR releases stopping or slowing. Is this even likelier now? Some US legislators are pushing a bill to break up OPEC. Is that even remotely possible?
And then finally, we took our first look at US midterms. Democrats now control both House and Senate. That’s a huge advantage for Joe Biden. For many reasons – inflation, crime, etc – Democrats are in trouble for November’s midterms, but will they lose control of both the House and the Senate? Albert discussed that in this episode. We’ll cover more of this in the coming weeks, but we want to have a starter conversation here.
Key themes:1. Systemic risks and the case for hard assets (Gold)
2. OPEC cuts = Q4 Crude price whipsaw?
3. US Midterms
4. The Week Ahead
This is the 37th episode of The Week Ahead, where experts talk about the week that just happened and what will most likely happen in the coming week.
Follow The Week Ahead panel on Twitter:
Tony: https://twitter.com/TonyNashNerd
Simon: https://twitter.com/S_Mikhailovich
Albert: https://twitter.com/amlivemon
Tracy: https://twitter.com/chigrl
Watch this episode on Youtube: https://youtu.be/JCzuaCX6Axw
Time Stamps:
0:41 Key themes for this week ahead
1:30 Where will the new systemic risks will come from?
7:46 Do they usually break gradually or do they usually break all at once?
11:49 Is gold dead?
18:00 OPEC, crude prices in Q4
21:10 OPEC changing their orientation to Asia?
26:15 US midterms
30:10 What's for the week ahead?