Georges

[Gold Telegraph ⚡ @GoldTelegraph_]

It is official.

The Bank of Japan raised its benchmark interest rate to the highest since 1995.

This is going to get interesting…

[Peter Schiff @PeterSchiff]

Gold is up over $100, trading above $5,085. Silver is up over $5, trading above $108.25, both at new record highs. Most people are clueless about what this means and are in for quite a shock. Those of us who understand have been expecting the economic crisis that’s about to hit.

[DANNY @Danny_Crypton]

🚨 THIS HAS NEVER HAPPENED BEFORE

I’ve been analyzing this for the last 24 hours and this is VERY BAD.

World silver production: ~800M ounces
BofA & Citi shorts: 4.4 BILLION

I’ve spent two decades in macro, and I thought I had seen it all.

I WAS WRONG.

If silver keeps going up, the biggest banks in america will collapse.

Here’s what I uncovered:

Yesterday, silver hit $92. Then it dropped over 6% in a few minutes, pumped back up to around $91, and now it’s crashing again.

I’ve spent 20 years in these markets. Most people see a normal correction, but I see a TRAP.

At $90/oz, their combined short position is now a ~$390 BILLION liability.

That’s larger than the market cap of most global banks.

This is literally survival. The banks are doing everything they can to stay afloat.

WHY THE DIP TO $86 OVERNIGHT?

They had to do it. If silver had broken $100 yesterday, margin calls would have liquidated those banks.

They unloaded paper contracts during thin overnight liquidity to FORCE THE PRICE DOWN.

But look closer at the physical market:

While the paper price dropped $6, lease rates just went vertical.

The cost to borrow physical silver is skyrocketing.

We are in BACKWARDATION.

Spot Price > Futures Price.

It means people don’t want paper promise in 6 months, they want the metal NOW.

THE MATH IS TERMINAL:

We know the shorts are 4.4B ounces.
We know annual mining is ~800M ounces.

But at $90+, the recycling supply dries up because people hoard.

And industrial demand (AI chips, solar, EVs) is inelastic, they must buy at any price to keep factories running.

BofA and Citi aren't just short the metal, they’re short the industrial revolution.

THE "FORCE MAJEURE" IS NEXT

I warned you 2 weeks ago about "cash settlement."

It’s already starting in the wholesale markets.

Dealers are quoting unavailable or 6-week delays for volume delivery.

When the price snaps back above $92, and it will, it won't stop at $100.

It will gap to $150 overnight when the first major short declares force majeure.

THE TWO MARKETS ARE DETACHING:

1. Screen Price ($88): A fiction maintained by algorithms.
2. Street Price: Unobtainable.

They’re shaking the tree one last time to get your physical…

BUT DO NOT SELL.

We are witnessing the death of the paper derivative market in real-time.

Ladies and gentlemen, welcome to the commodities supercycle.

How do I know all of this?

I’ve studied macro for 10 years and I called almost every major market top, including the October BTC ATH.

Follow and turn notifications on. I’ll post the warning BEFORE it hits the headlines.

[Bravos Research @bravosresearch]

Every bull market in the past 70 years has been ended by 1 key Macro factor

This should NOT be overlooked

A thread 🧵

[The Kobeissi Letter @KobeissiLetter]

This gold run is absolutely insane:

Gold just made its 38th all time high of 2025 with gold futures now up +43% year-to-date.

This puts on gold on track for its best year since 1979 as the Fed cuts rates into 3%+ inflation.

Gold knows what's coming next.

[Andrew Lokenauth @FluentInFinance]

This is insane…

Google searches for "help with mortgage" passes 2008 housing crisis level.

People don’t realize how badly the real economy is doing.

[The Kobeissi Letter @KobeissiLetter]

The quality of CPI inflation data continues to deteriorate:

In August, 36% of CPI prices were estimated, up from 32% in July.

Normally, BLS calculates CPI inflation by gathering ~90,000 monthly price quotes across 200 product and service categories.

When price data is missing, the BLS fills the gaps with estimates, which usually make up ~10% of all data points.

The share of estimates has rapidly surged over the last few months.

As a result, CPI numbers are becoming less accurate and less reflective of real consumer costs.

Confidence in the economic data is eroding.

[Gary Marcus @GaryMarcus]

Mark my words, this week marks peak bubble.

Oracle just went up $300B on what appears to be a non-binding deal with OpenAI.

•OpenAI doesn’t have $300 billion dollars
•They don’t have anywhere near $300 billion dollars
•By their own (presumably optimistic) projection, they won’t turn a profit until 2030.
•And all this from a company thought (or claimed) that GPT-5 was going to be tantamount to AGI (spoiler alert: it wasn’t)
•For good measure Oracle doesn’t have the chips they would need to fulfill the contracts, or even the cash to buy them.

I will be astounded if Oracle meets their projections.

Further discussion at the link below.

[Karl Mehta @karlmehta]

The Scotland Meeting Just Changed Everything—And Nobody Saw This Coming

Trump and von der Leyen announced a 15% tariff deal, but that was just the cover story.

The real deal was never about tariffs.

Since the media won't tell you, here's the real breakthrough...

A Thread 🧵

[Gold Telegraph ⚡ @GoldTelegraph_]

Central bank holdings of government debt:

• 🇯🇵 Japan:
Over 50% of all outstanding government debt

• 🇬🇧 United Kingdom:
Approaching 50% of the outstanding debt

• 🇪🇺 Eurozone:
Nearly one-third of outstanding sovereign bonds

• 🇺🇸 United States:
Around one-quarter of all U.S. Treasury debt

It is unbelievable that this is where we are now.

[Bravos Research @bravosresearch]

History is REPEATING

Buckle up.

A thread 🧵

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The US Treasury posted a $316 billion budget deficit in May, the third-largest on record.

This comes as total government outlays rose 3% from YoY, to $687 billion, per ZeroHedge.

And, while tariff revenue surged 270% YoY, to a record $23 billion, it barely made a dent in the deficit.

In the first 8 months of Fiscal Year 2025, the budget gap now stands at $1.37 trillion, the third-largest in history.

The 12-month federal deficit now stands at $2.0 trillion, or 6.7% of GDP, up from 6.1% a year ago.

The deficit spending crisis is worsening.

[The Kobeissi Letter @KobeissiLetter]

You know you have a deficit spending crisis when:

1. The president is calling for a 250 basis point rate cut

2. The US is on the brink of joining a war against Iran

3. CPI inflation has fallen toward the Fed's 2% target

4. US effective tariffs rates are near their highest in history

5. The Fed began rate cuts with a 50 bps cut for the first time since 2008

Yet, interest rates keep on rising.

[Hosun Chung @hosun_chung]

After 47 years, Ray Dalio just walked away from his $160 BILLION empire.

But the real shock? WHY he left.

His warning: "We're heading for a new financial order."

Here’s what he sees coming—and why Wall Street isn't ready: 🧵

[Bravos Research @bravosresearch]

US government debt market COLLAPSE has begun

This has MASSIVE implications for the economy

A thread 🧵

[Barchart @Barchart]

BREAKING 🚨: U.S. Banks

U.S. Banks are currently facing $482 Billion in unrealized losses, an increase of 33% from the prior quarter.

With rates now skyrocketing, these losses are going to increase. Banks, particularly small banks, are in trouble!!

[Gold Telegraph ⚡ @GoldTelegraph_]

Billionaire Ray Dalio says we should all be afraid of the government bond market.

He is right.

The world is pushing the fiat monetary system to the limit.

Global debt recently hit a new record of $324 trillion.

[Peter Schiff @PeterSchiff]

Trump accused Powell of playing politics by refusing to cut interest rates. But if he was playing politics, cutting rates is exactly what he would do. Political pressure on central banks is always for lower rates. Central banks are independent precisely to resist that pressure.