Life is a song….so sing along and enjoy it! Sng
Darn
It felt like we were so close to the bottom, but then oil, rates, and the dollar all went up and BAM! Right back in the crappa!
SM and even Bitcrap don’t look good either.
How much worse will it be when they raise rates tomorrow?
Hope Jordan Byrne is onto something.
Too bad all these great results happen while PM’s are held down in the crapper. But if you don’t have it it gives you a chance to get it. Sng
Contango Intersects 506 g/t AgEq over 13.90 meters at Torbrit and 807 g/t AgEq over 4.96 meters at North Star Infill and Expansion Drilling
Sounds good to me
Jordan Roy-Byrne CMT, MFTA ⛏⛏
@TheDailyGold
The first hike of a new Fed tightening cycle marks a low in Gold when Gold weakens into the decision.
The bigger signal comes when the 2-year Treasury yield peaks.
After the last three peaks in the 2-year yield, Gold surged:
+215% in 2.3 years
+78% in 1.8 years
+63% in 9 months
Oil and rates creeping back up
they need some more interventions…
D’oh!
Zelensky Sanctions His Ex-Spokeswoman Yulia Mendel, Who Revealed to the World the ‘Open Secret’ of His Drug Abuse (VIDEOS)
Yesterday (13), it arose that Kiev regime leader Volodymyr Zelensky sanctioned his former spokeswoman, Yulia Mendel.
Mendel has left Ukraine, and gone public with a torrent of detrimental information about her former boss, including the fact that Zelensky profits from the continuation of the war, and – what’s even worse – she dared talk about the ‘open secret’ of his drug abuse.
Not fair
metals are bouncing back, but shares are dead. Not fair again. 🙂
Zelensky making Trump look like a fool. I don’t think Trump appreciates that much.
Energy Truce In Shambles: Ukraine Strikes Russian Refinery Despite Trump’s Warning Amid Global Diesel Crisis
PPT at play?
SM was cratering pretty good earlier with oil jumping over $3 and the 10 yr at 5.04% a couple hours ago.
Looks like some intervention in the bond market as rates are now right at 5% and oil up $1.70, with SM futures coming back. Not positive but well off the lows.
Even pm’s are coming back, although we know that’s not because of the PPT support. What a ridiculous game.
I suppose we’ll see how serious they are.
Fed again on Wednesday could bring some relief to PMs or more pressure.
These are some things to think about. Rate hikes won’t bring oil down but could affect demand. Could raise interest on credit cards, car loans, business loans. Also lowering rates may not have a automatic effect on housing loans if they lose confidence. He’s going to be paying more attention to what he says after the decision and why.
Short video a minute or two, I didn’t time it, was listening. Because when he says what the Fed says after especially if he raises interest rates will also presently affect PMs too.
ferrett
Right so if they ever needed to sell it gold going down on the open market isn’t really good for currency that has gold reserves. Like it used to be when you could redeem gold for paper and back both could go up together. Now the different reflects how much paper promises has been devalued. Raising the price of gold without eliminating the debt and raising the value of the dollar, would just devalue the paper dollar more. At the same time they need the dollar down for trade. Being a reserve currency isn’t good for the economy. Electing or appointing mismanagement isn’t either.
goldie 20:15, exactly.
They can revalue the gold to $100,000 per oz, but that’s as meaningless as the $42.22 current valuation. They certainly aren’t selling it at $42.22, just as they wouldn’t be buying it at $100,000.
ipso 20:56
Anything they say doesn’t mean a thing, their word is completely worthless, same with Iran apparently.
So much for that
The Hormuz Letter
@HormuzLetter
·
1h
BREAKING: Ukrainian drones have just struck Russia’s Syzran oil refinery, with multiple fires burning across the complex, hours after Trump claimed on Truth Social that Ukraine had agreed not to hit Russian energy targets, that Russia had agreed likewise, and that the world’s diesel price rise “is mostly caused by the Russia/Ukraine War, not Iran.”
Syzran runs about 170,000 barrels per day, roughly 3% of Russia’s refining capacity. US diesel hit a record $6.23 a gallon today.
ferrett
Right, that can change the price of their gold but not on the global open market price but I doubt if they’d buy it from individuals for that price. Why would anybody buy it for that price from them when they can get it on the open market. I can only see it as adding some insurance to something like treasuries but at that price not very much.
Mr.Copper, Chat’s response to your question ….
“Here’s the really important point
The government doesn’t have to back every dollar with one ounce of gold.
It could say:
“We will redeem $X for one ounce of gold.”
How can they do that? If they say “We will redeem $100,000 for one ounce of gold, you’d have the greatest arbitrage in history, with you, me and every other bug and his dog frantically selling to the govt. for $100,000 and buying back at $4,500 on the open market, a price that would rapidly rise to be sure, but at the same time would eliminate the gold reserve entirely. {edit: Ha!! got that wrong – the gold reserve would increase as they acquired more gold for $100,000/oz.}
As far as I can determine, and I could only get back as far as 1911 with data as to how many USD notes were in circulation, paper money has never been backed by gold. How can they do it now?
eeos – Shipping Container Mansion
31 minute video of a 4,000 sq.ft. mansion in Minnesota built out of shipping containers.
Waves and Fib No’s for GDX
here we see 5 up and 3 down….27 days up and 14 down, so wave 2 is @ 50 % of wave in time and nearly 0.38 % in price
Here we break down the 2nd wave dn ..especially the c wave….which is clearly 5 wave.
Wave i = 3.08
wave ii= 1.06
wave iii = 3.44
wave iv = 1.07
therefore waves i and iii are equal, as are waves ii and iv…if wave v is equal to wave i, then the tagert for wave v is close at 94.02 ( 97.10- 3.08)….we closed at 94.14 tonight……looks like the 2nd wave is done…we shud run up fast from here in the next wave 3 up.
Re Backing the US dollar with Gold, $50,000–$100,000 per oz
I asked ChatGPT If the US Gov’t or Treasury, or the Fed Res, regarding all the US dollars in existence, was going to back the US dollar with Gold and Silver what would those prices be, especially for Gold.
Ans:
GATA
Years ago, Bill Murphy used to talk about the multiples of paper Gold to real physical Gold. For giggles, I asked Chat GPT what that ratio really was. This is what I got:
The paper gold to physical gold ratio can exceed 100:1 in certain markets, meaning there could be over 100 ounces of paper gold claims for every ounce of actual physical gold. This disparity highlights the risks associated with investing in paper gold compared to owning physical gold.
With the Dutch repatriating $5 billion worth of their physical Gold in the past few weeks, I keep asking myself how much longer ( and how much higher) that ratio can go before something implodes. But we all know that financial “markets” can be irrational far longer that anyone can rationally think….
HUI down just a little less than 3%
Modest by the HUI standards. The silver shares have taken the brunt of the damage; seems most are down near 4% although I see CTGO is up a little and HSLV is only down a fraction. I do see one that’s down over 7%.
The DIA is down .17% and the QQQ’s down .56%.
I shudder to think what we’re going to look like when the SM actually takes a real hit.
deer79’s little tungsten play is up 5%. Are there any others? There’s one called Fox Tungsten in Canada but it’s a $.16 stock. Greatland is more of a gold play, or at least it is trading like one.