2020.08.22【文茜世界周報】冰層暖化帶來新資源 群雄展開北極爭奪戰
https://www.youtube.com/watch?v=wbbbGd4gBsY
The CRB index of futures contracts - which covers energy, metals, agricultural products, animal products and soft commodities - has soared more than 15 percent so far this year.
When the market chases after cryptocurrencies such as bitcoin, it also helps to put a lid on inflation.
This is because cryptocurrencies are not widely used to pay for goods and services at present, so when the prices of such digital assets rise, a massive amount of cash becomes locked by them and consumption will not be stimulated. Thus, the pressure it puts on inflation is limited.
I still hold my opinion from last week that it will be no surprise if it goes down to US$30,000 in the short term, given that the cryptocoin was trading at that price at the start of the year, and as low as US$3,000 a year ago.
While the CRB Index reflects that commodity prices rose more than 70 percent over the past year, if you look a little deeper, you will find the index has only returned to its 2018 high.
This means there's room for a more than 50 percent increase to the levels reached in 2014.
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