Have any of you traded or still trading on fx etc or worked in the financial sector?
What is your take on what is going on in the financial world?
I trade on the F.Exchange a bit and am mostly concentrating on XAU, XAG and OIL at present.
Things are looking nasty in the middle east and if Lindsey Williams is right we will see oil go to $150-200 a barrel pretty soon.
All three have been in a dip and are now starting to head north.
Good news for those with metal and bad news for our fuel tanks 😐
If that happens you can kiss whatever global economy that is left goodbye. It could spike and that would not only make it more expensive to go to work, but also everything would rise in cost. Then people would buy less causing layoffs and so it would accelerate the death spiral until the money you put into oil would vaporize due to another round of QE or a total currency collapse. It is a domino effect. QE money also finds its way into oil since nobody is actually borrowing the money that is all but given to banks to lend. Short term safety in the Forex but I would not put anything in there unless it is a day trade. IMO.
The oil companies know that they have some room left to raise prices, at least on this side of the Atlantic to raise prices. I was talking to a freind in the UK today and their gas is currently $2.15 per L!
The oil companies know that they have some room left to raise prices, at least on this side of the Atlantic to raise prices. I was talking to a freind in the UK today and their gas is currently $2.15 per L!
Thought it would have been higher. Then again their wages reflect the cost. Many in the UK fly to America to buy clothing. Their money goes farther than ours does here.