In this report, I cover the early market action from London on Wednesday, October 30th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I first look at what is going on today at the Federal Reserve's FOMC meeting and what has been going on here in the UK as it relates to Brexit and also the UK government's fiscal situation. As I have said many times in the past the biggest problem facing the world's major economies is debt but of course, there are many distractions out there that keep the public from looking into the problem of debt.
I will also focus on what the Petrodollar is and how it relates to what has been happening in Syria of late as the U.S. has taken control of the Syrian oil facilities. The U.S. administration's actions in Syria is nothing new as all the wars and interventions of the last twenty years have been about keeping the Petrodollar's supremacy.
My conclusion for the day is that no matter what happens in Syria and the trend worldwide is for less and less need of the Petrodollar as countries around the world find ways to settle trade and commerce amongst themselves with other means of payments.
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