264688372 - 1_5x1fy4zw - PID 1851201 Hi everybody, I’m Ted Dixon with the INK preview for the week of July 11th: Natural gas helping to fuel Bretton Woods III? On March 7th, Credit Suisse money market contributor Zoltan Pozsar wrote a provocative report describing the development of an emerging monetary order which he characterized as Bretton Woods III. His critics have had something to cheer about with the WisdomTree Enhanced Continuous Commodity Index ETF peaking the day the report was published. However, it may be premature for Pozsar's critics to take a victory lap. Much of the current commodities weakness may be due to China’s COVID zero policies which is something we would expect. Meanwhile, bonds are having an unusually hard time, and something does not seem right in the current environment if bonds are struggling to handle the prospect of a potential US economic pullback which is bound to happen sooner or later. As the Treasury market struggles to gain traction during a slowing growth environment, the Pozsar thesis received a boost of sorts over the weekend. As reported by the Guardian and other media outlets, Canada exempted a Russian turbine, gas turbine, from sanctions amid Europe's energy crisis. The risk to European energy security was deemed simply too great as the turbine was needed for a natural gas pipeline that serviced Germany from Russia. Without the turbine, Russia would conceivably have every excuse needed to keep the pipeline offline in the winter. So ironically, natural gas which is probably the least fungible of all major commodities has given Russia with its frozen Treasury assets leverage to extract concession from Canada without even asking. We’ll score one Bretton Woods III over the weekend. Ironically, those same geopolitical events should also help to support Canadian natural gas producers and we write about one our morning report today to kick off the week, so make sure to check it out. If you do not have access to the INK morning reports, check out the INK Ultra Money or our Vivaville Discord channel this summer. Meanwhile the bull market in volatility continues and Canadian insiders have been buying the pullback. Our INK Indicator now over 275% meaning there are more than 2.5 stocks with key insider buying for every one with key insider selling. It is a bit early to suggest that we have seen peak insider buying, so a test of the 1,800 level on the INK Canadian Insider Index is not out of the question. Well that’s all for today and thanks for stopping by. This is not a recommendation to buy or sell securities and nothing in this video or in INK reports should be considered financial advice information is for educational purposes INK employees may hold an interest in any stock mentioned in our videos or in our reports.