Daily Credit Summary: April 27 - Dismal

Tyler Durden's picture

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hamurobby's picture

The Dollar strengthened with DXY rising 0.98% to 82.281, Oil falling $2.32 to $81.88 (under performing the dollar as the value of Oil (re-based to the value of gold) fell by 4.07% today (a 1.78% drop in the relative (dollar adjusted) value of a barrel of oil

Oil is gold

It may have so far been pinned to the reserve currency for convenience, but the reality it was always so, now it is just forced from under its veil. The Saud has always controlled oil per ounce, and allowed for variances for convenience (see banking and mining gold), as this was agreed to by those companies who negotiated in the 60s to drill, pump and walk. fluctuations have occurred, but the truth is there on averages. Thank you John Paul Getty (rip) for enlightening me in so many words, in your books.

doolittlegeorge's picture

all pro on this post.  nobody talking about Belgium until yesterday tho and that should have been the talk from day one and not the PIIGS.  Still crises are dynamic and fluid situations so the only thing for sure are surprises now.  glad the cop's on the beat at ZH and look forward to further posts.