ZH notes the ride of checking account volume relative to standard deposits. Then the continuing slide in the dollar. Logistics chaos due to covid.
But that dollar goes down and oil prices get above 55 the frackers get warm and fuzzy. I doubt we will see oil go much above 60. Except? Some OPEC blow up.
But ZH cites the drop in lending, the contraction of the fiat chain. That is the problem, and fiat bankers may be the first to rebel, urged on by their government business partners in the municipals. Especially with the Fed going after municipal debt market. For some municipal funds that market is a gain.
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