"Wheat’s price is almost a guarantee for a global recession," says Mike McGlone, Commodities Strategist at Bloomberg Intelligence. "Russia will be very dependent on fossil fuels," and the rest of the world will not be in the near future, he tells our Daniela Cambone. "The United States is the world’s largest exporter of liquified natural gas, and that’s going to accelerate," he asserts. McGlone and Cambone discuss rising metals in rhodium and palladium, and further discuss the implications of the Russia-Ukraine conflict. "It’s a matter of time before gold passes the $2,000 mark and never looks back," says McGlone, "but gold does have major competition from digital assets, including Bitcoin." With supply limiting and demand and adoption going up, Bitcoin may slump in the short-term, but long-term, "it’s just a matter of time before Bitcoin reaches $100,000."
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