X @Nick Szabo

RT Nick Szabo (@NickSzabo4)If the most commonly expressed opinions of the petrodollar were true, Treasury rates would already be back up to their late 1970s levels, at best, and gold would be well above $10,000.Instead 30-year Treasuries are 4.9%, within their trading range over the last two years. Gold doubled in the year before the current war, but since the war retreated off its highs. Markets know that the Iran+Oman control over Hormuz is not some big financial catastrophe for the U.S. ...