Michael Kao's black swan tail-risk on energy:
"if there was an export ban, WTI crude collapses and potentially goes negative"
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to be clear Michael is a long-term oil bull. the point here he's making has to do with the different grades of oil. (most types of shale oil in the U.S. are light grades, and the refineries in Texas need both light oil AND heavy oil which it has to import)
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we can see Same behavior(charts⬇️)throughout markets
based on structural not technical analysis
O/course Certitude about future is for fools,but so far current PA structures track Great Depression structures closely and over period of 20 years
Such animal does exist!
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Replying to @dmoses34 and @GuyAdami
A possible wider perspective
this flight+landing profile
had happened before
3 recent bubbles not isolated events
parts of bigger 'system of collapse'
It had happened before & now most probably happening again
Charts 1&2 are 2 years old
3rd chart from January
4th one current
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Terrific interview, regarding high price volatility following a sale of very small amount of Bitcoin,imo,it might be the result of extensive hodling rather than being the result of Bitcoin's inelastic issuance regime