Royce Leslie

Long term FA focused investor. Retweets/tweets are not to be construed as financial advice. Freelancer. Retweets/tweets are not endorsements, journal only.

[Junior Mining Network @JrMiningNetwork]

Heliostar Expands Expansion Zone and Drills 99.8 Metres Grading 10.9 g/t Gold at Ana Paula $HSTR.V https://t.co/eXR7suVkeo

[Steve Hanke @steve_hanke]

Silver continues to trade above the $50/oz milestone it broke last year. The market fundamentals remain solid. This year will mark the SIXTH STRAIGHT year in which demand outstrips production.

STAY LONG SILVER OR GET LONG.

[fred hickey @htsfhickey]

"The debasement trade is getting a bit dead," JPMorgan's Chandan said.

As long as we've had the Federal Reserve (nearly 113 years), the debasement trade has been very much alive as the Fed central planners always cave to the politicians' pressures to debase. Sometimes (such as now) there are periods where it might appear they're tough on inflation (such as when a new Fed chairman has to establish his bona fides).

Nevertheless, we can count on more debasement - especially after asset bubbles break - and the bubble we're in today is a doozy.

https://t.co/YAjK82ihJq

[Macro Liquidity by Sunil Reddy @Macrobysunil]

When gold sentiment was already broken, Chinese banks quietly started cleansing leverage.

Some banks raised margin requirements on personal precious-metals deferred contracts to 120–140%.

Understand what that means.

At 35% margin, retail traders could control ¥100,000 worth of gold with only ¥35,000.

That is leverage.

At 140% margin, they need ¥140,000 to control ¥100,000 worth of exposure.

That is forced deleveraging.

This is China removing speculative leverage from gold and silver.

And the timing matters.

They are doing this when sentiment is already bad, prices have already corrected, and weak hands are already under pressure.

This is how leverage gets cleansed from a market.

Short term, it can suppress demand and keep prices under pressure.

But the darker read is simple:

When retail leverage is flushed out, the sovereign buyer gets a cleaner market.

Less speculation.
Less panic bidding.
Less crowded positioning.
Cheaper accumulation.

They don’t need to bid gold at higher prices.

They can shake out leverage, cool retail speculation, and continue the sovereign accumulation spree at better levels.

So no, this is not bearish in the big picture.

This is leverage cleansing.

[TheApeOfGoldStreet @TheApeOfGoldST]

Yepp

[Macro Alpha @MacroAlphaHQ]

Political pressure to cut rates is a structural constant, not a breaking headline.

Every administration eventually demands the exact same policy error just to service the sovereign debt.

They will ALWAYS choose to debase.

Physical $GLD trading at $3,977.85 is simply the market calmly front-running that math.

[Lina @MaskedMystiqueX]

JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.
JULY IS GOING TO BE A GOOD MONTH.

[Prof. Steve Keen @ProfSteveKeen]

In 1973, the Yom Kippur War completely transformed the global economy. Within months, the price of oil leaped from $2.50 to $10 a barrel, pushing the world into a severe stagflation crisis. Today, we are looking at a remarkably similar setup in the Strait of Hormuz, yet the political elite and central bankers are operating in a complete fantasy world.

Donald Trump claims he loves inflation because his oil producing allies are enjoying massive profit margins. He assumes that once conflicts end, production will instantly snap back like a rock falling. This shows zero understanding of industrial production. When oil infrastructure is disrupted or wells stop flowing, restarting them is an immense technical challenge, not a political talking point.

Meanwhile, the Federal Reserve is using flawed models to diagnose the problem. They believe consumers are driving this inflation by accelerating their purchases out of fear. They use complex mathematical setups called DSGE models, which assume human beings have perfect foresight and optimize their spending across generations. It is an insult to mathematics.

The real issue is a supply shock. Energy is not just another line item on a balance sheet, it is the essential ingredient for all physical work. If energy inputs drop by 10 percent, economic output drops by 10 percent. Squeezing families with higher interest rates does not create a single new barrel of oil. Instead, it forces anyone with a mortgage or a business loan to pay more to the financial sector, draining the cash flow they need to survive. In 2008, the crash was driven by a collapse in predatory borrowing. This time, the crisis will be driven by a physical collapse in production while our massive mountain of private debt remains exactly the same.

P.S. We need to look at the physical reality of production rather than the abstract theories of academic economists.

Watch the full video analysis here to see how this unfolds: https://t.co/FD6wrRzGwr

[Gigi Penna @giginator_]

The 1st time the scale of what's at Glenburgh takes shape.

With ~80% of the ET supported by drilling and interpretation, now it is about the work that converts those 10-12Moz gold into an MRE. That's what Mark and the $BNZ team are built to chase.

[Macro Alpha @MacroAlphaHQ]

Retail is hyperventilating over Peter Schiff's podcast FOMO while Tier-1 desks quietly sweep physical $GLD at $4,006.98.

The timeline is trading entertainment. The desk is front-running a sovereign COLLATERAL crisis.

When the Fed's jawboning finally breaks the bond market, you will see exactly why institutions hoarded the metal instead of the $BTC beta.

Remember I said this.

[★ @thematrixwizard]

the alignment with source changed u bro

[Macro Alpha @MacroAlphaHQ]

I genuinely have to respect the audacity of this collateral swap.

The Fed is intentionally bleeding out $74B in mortgage-backed securities to quietly funnel $251B straight into the Treasury market.

They are systematically sacrificing housing liquidity to STEALTH-FUND the sovereign deficit.

You are obsessing over rate-cut headlines while the balance sheet expands anyway, which means you have been trading completely blind.

[Pauline Hanson 🇦🇺 @PaulineHansonOz]

ISIS Brides WON'T be allowed in the monoculture.

[First Squawk @FirstSquawk]

U.S. TREASURY HOLDINGS BY FOREIGN INVESTORS FALL TO NEAR RECORD LOWS

[Brian @BriansWealth]

Posted on behalf of Silverco Mining - @SilvercoMining $SICO $SICO.v $SICOF is drilling its first underground holes inside the Cusi mine-plan footprint in Chihuahua, ahead of a targeted late-2026 #silver restart.

Per the June 16 NR, contractors are set to mobilize by end of Q2, with development starting in the coming weeks. The fully-funded 30,000m 2026 program (10,000m underground, 20,000m surface) feeds an H1 2027 Cusi resource update.

La Negra in Querétaro is already producing at ~55% of 2,500 tpd. Q1 2026 cash ~C$56M, with Eric Sprott a 10%-plus shareholder.

https://t.co/8pSRQOmVE5

[BowTiedStocks @bowtiedstocks]

They said it couldn’t happen

The lower the IQ, the stronger the belief that it couldn’t happen

Melbourne down in real terms for about 5 years now…

[*Walter Bloomberg @DeItaone]

2008 CRISIS WINNER TARGETS PRIVATE CREDIT RISKS

Investor Lee Robinson, who turned a subprime bet into a 900% gain during the 2008 crisis, is now betting against insurers he sees as exposed to private credit risks.

He warns markets are underestimating potential losses from the $1.8 trillion private credit sector.

Robinson says one major insurer setback could trigger broader stress across the industry.