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The leadership should military's deadline for president more should it compromise has come and pass the millions of egyptians who have taken to the streets since Sunday I want -- to step down.
And there's conflicting information at this moment about whether he's still in power.
We've already seen a dramatic rise in oil prices as a result of all this but look at this.
The ETF the Egyptian fund is up significantly.
What's that all about it what is gonna happen they're joining us now so -- -- he has SM advisory group CEO.
In our expert on all things Egyptian -- why on earth is the ETF the Egyptian ETF up over 4% today.
Well I think it's it's -- if you bet that -- -- without -- just gonna move forward.
But is it -- is it a buy on the rumor move and there'll -- you sell on the news I believe so I saw in my opinion I think you stay away from taking any.
Positions within the Egyptian market as of yet because there's more volatility had a -- The real issue is contagion containment.
So there's one within the borders of -- Egypt and -- ones within the region the broader region itself.
If there is if you're running into an Arab summer or an Arab -- of sorts.
From this contagion then then oil price -- -- -- have -- -- one thing and and this is where politics and economics mixed yet because a lot of investors are worried that the United States has been backing the wrong side that.
That what is happening in the streets of Egypt right now as a result of -- -- today.
About the Muslim Brotherhood it was kind of we we saw it happen even in the coverage which kind of -- -- the of the Obama administration I think we have that clip.
Our -- -- for NBC and what he said about the Muslim Brotherhood in 2011.
When Mubarak was ousted let's play that clip.
The Muslim Brotherhood.
Doesn't really want to take over.
You would never -- all right I can imagine you would ever see a Muslim Brotherhood president of Egypt they don't like to rule from the back.
They like to control the student unions the people who clean the streets the teacher -- the lawyers union.
It's it it is that's kind of guy even today I mean obviously he was dead wrong -- we don't we -- on Richard Engel.
But because the administration itself was saying much the same thing Muslim Brotherhood now they don't want our they -- a ruling from behind and quite quick obviously that's not true.
-- -- Does it does it worry you that the American foreign policy could be that -- Well it is it is worrisome but you also think that more secure 151%.
Of the votes so you know there's -- there's still this is a very divided country to start off work.
You know and it's a trial and error free -- -- you know.
They want something different on certain you know what they want so we've -- to wonder evolutionary going through the second hundred now potentially.
And if it takes 345 so be it but I think you know they haven't really found equilibrium.
-- -- the military takes over the Muslim Brotherhood -- they don't like to just be quiet in the corners they like power they like to exert power if the military takes over and these folks out in the street.
Battle with the Muslim Brotherhood folks.
That could be a very bad sustain civil war either way.
Just because we -- sold.
You know polarized.
And -- I think either way there's gonna be period distress in the system for the next version four years let's talk about the most obvious there's the -- AE GX index -- thirty index and again.
-- you're you're not sure what this indicates right now because a lot of people are betting on.
Things eventually resulted in the in the short term oil for one thing we started it was almost a 101 has just close below 100 once -- back continue to go up.
I think there's a likelihood because what you're seeing right now is this really what I've mentioned earlier which is the contagion effect if if you start.
Talking about stress building up in GC CD oil producing nations.
And like -- -- of -- of the Arab Spring but then -- oil is gonna remain elevated and with every ten dollar move above all 104.
Extended period of time you're looking at about -- half percent impact -- negative impact on global GDP so please stay with us and because we're going to be coming back to --
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