Matthias Ries

human being, son, husband, father, friend of the Austrians

[Ronnie Stoeferle @RonStoeferle]

This chart by @TaviCosta very much confirms my tweet from yesterday... I am not buying into Warsh's hawkishness...

[Liberty Hannes @LibertyHannes]

🤡🇪🇺

[Neil Oliver @thecoastguy]

It’s never too late to understand everything you were told is a lie.

[Michael Maloney @mike_maloney]

Why gamble on sports when you can bet on the central banks expanding the currency supply? Gold and silver are my ultimate bet.

[Thorsten Polleit @ThorstenPolleit]

Deutschland, Kernzahlen zum Verteidigungshaushalt 2027:
Einzelplan 14 (Bundesministerium der Verteidigung, Kern-Wehretat) mit ca. 105,8–109,7 Mrd. €.
Das ist ein Anstieg der Rüstungsausgaben um rund 27–33 % gegenüber 2026 (82,7 Mrd. €).
Der Wehretat macht damit etwa 20 % der gesamten Kernhaushaltsausgaben des Bundes aus.
Schade um das Geld.

[China pulse 🇨🇳 @Eng_china5]

From China… shoes that allow a person to walk on water.

[Santiago Capital @SantiagoAuFund]

Strange
Very very strange

[Willem Middelkoop @wmiddelkoop]

I love perspective

[Tony Heller 🇺🇸 🇯🇵 @TonyClimate]

Nine hundred years of European heatwaves

https://t.co/OCXxCsGl3P

[Jeffrey P. Snider @JeffSnider_EDU]

The Fed's dots are ridiculous.

A majority of the FOMC now thinks it might have to raise rates to fight oil inflation. They just met, and a lot of them concluded they need to be like Trichet.

The projected fed funds range moved up about half a point from March. A serious hawkish shift, and an absurd one given where oil and TIPS break-evens are.

That is why the Treasury curve flattened. The front end is pricing a growing chance they actually hike. The flat curve is saying it will not last.

Here is the core mistake. The Fed's models see inflation because oil prices went up. But oil is not inflation.

Oil can lift the CPI for a few months, and it has. But a relative price shock is not sustained inflation.

For oil to become real inflation, the shock has to spread. You need wages chasing prices. Businesses gaining pricing power. Expectations moving. Demand strong enough to absorb higher costs.

None of that is happening. Not in the markets, and not in the CPI details.

So look at the board. TIPS are falling. The Treasury curve is flattening. Oil spreads are flattening. The IEA is cutting demand.

And the Fed's response is to print more hawkish dots, because some officials still think the main risk is inflation.

That is the misdiagnosis. The market can see it. The public cannot, because the financial media only reports what the Fed says and does.

[Jens Nordvig @jnordvig]

Once upon a time, there was a line in the sand...

[Willem Middelkoop @wmiddelkoop]

Peak USA in 2000

[Camus @newstart_2024]

Jordan Peterson made a great point about Harry Potter.

The real heroes in the story aren’t the perfect rule-followers, and they’re not the delinquents either. They’re the kids who break the rules when it actually matters.

That’s why the books became such a massive phenomenon, kids instinctively recognized the archetype.

In a world full of rigid systems and blind obedience, true character shows up in having the wisdom and courage to break bad rules when necessary.

[Dr. Eli David @DrEliDavid]

Thanks to socialism, the average Zimbabwean became a trillionaire before @elonmusk 💪

[Lyn Alden @LynAldenContact]

The missing piece is that there isn’t really another burst of above-normal money supply growth yet.

That’s why I have trouble seeing CPI growth taking out the 2022 high on this timeframe.

[Ronnie Stoeferle @RonStoeferle]

Gold <200-DMA. Silver <200-DMA.

Gold Miners Bullish % Index = 0.00.

The only other time miner sentiment hit absolute zero was the Dec 2015 bottom — right before lift-off.

Peak pessimism, meet contrarian. In Gold We Trust. 🥇

#gold #silver #goldstocks ht @B@Brien_Lundin for the chart!

[Koskovics Zoltán @KoskovicsZ]

The champions of democracy and liberalism:

[Ronnie Stoeferle @RonStoeferle]

Gold is expensive?

[Ronnie Stoeferle @RonStoeferle]

One of my favourite #infographics, prepared by the wonderful people at @MiningVisuals, for our #IGWT26.

#GotSilver?

[Gold Telegraph ⚡ @GoldTelegraph_]

Alaska lawmakers pass bill making gold and silver currencies legal tender.

Add another to the list.