Interesting Retweet from Nicholas Perrault...
No better time IMO to own commodities!!
mining.com
I’ve been doing this 30 years and I’ve never seen markets like this,” Currie said in a Bloomberg TV interview. “This is a molecule crisis. We’re out of everything, I don’t care if it’s oil, gas, coal, copper, aluminum, you name it we’re out of it.”
Futures curves in several markets are trading in super-backwardation — a structure that indicates traders are paying bumper premiums for immediate supply.
All six of the main industrial metals traded on the London Metal Exchange moved into backwardation late last year, in a rare synchronized bout of tightness last seen in 2007.