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Okay well our next guest says that the easy money shorting gold is behind it's it's time to start shorting oil.
Max -- BMO capital markets joins us now Mac.
You say that oil as the next commodity to fall even more it's been down right that's Lindell but obviously not as much as gold -- got about 10% in the last month.
And -- really.
You know -- had this elongated bull market are driven of course by Q -- in this massive -- increase in the money supply driving fears about inflation.
But you know I think investors really got away from the fundamentals and gold which is to say there hasn't really been evidence of inflation CPI and PPI numbers have been light.
Outside of some emerging market inflation in the developed world.
We just haven't seen.
The increase in prices that people would expect so golden now corrected because the inflation didn't develop but from here do you think gold keeps going down everything gold goes up -- -- My feeling is the easy money Goldman -- on the outside so.
Whether it goes up -- down from here I think -- easy trade is behind us yet but what's interesting is that other parameters of global global growth such as base metals.
Oil at all.
Haven't seen the same -- -- recently so I would turn to those Roberts at this point to say.
If you want to play continued slowdown in in global growth.
But towards other markets that Michael the -- -- -- so why it will oil fall and -- your forecast be utterly ruined the first time we get worried about Iran again.
Well those -- those -- generally to be short term blips we get scared about Korea or Iran -- terrible stories generally are are passing stories.
I think what's happening now to -- dynamic where second half forecasts are really rising -- we're seeing.
First quarter growth somewhat moderate not very impressive but no one's lowering numbers for the full year which -- in the back half.
Would have seemed very impressive numbers in order to make GDP estimates individual equity yacht EPS estimates those are all going to pin their hopes essentially.
On back cap numbers didn't get -- and lastly don't gold and oil usually trade in the same direction of one goes up the other stuff they usually do it's a bit strange does this -- -- happened recently I think got one of the things underpinning oil has been.
Anticipation of spring and summer driving -- and -- like you very much for being with us -- -- got some breaking news -- today.
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