$Gold vs $NVDA these charts are starting to look extremely similar. Gold will be making a very large move on this break out. These parabolic charts are popping up more and more frequently. This is going to be a wild year.
@ThHappyHawaiian End of month selling was much less than expected. Reminiscent of last years move. Might be steep until mid October correction. After that, silver went straight up.
Last week, Scott Bessent implemented the same playbook on the USD that the yen did before it's collapse. He knows this, because he made $3.5B off the Yen collapse. The dollar is down 8.8%.
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Scott Bessent, a Soros protege, made $3.5 billion betting against Japan when their government bought its own bonds to suppress long-term interest rates.
The yen lost 50% of its value and the Wall Street Journal called him "The Man Who Broke the Bank of Japan."
Last week, his Treasury Department doubled its bond buyback program. Same mechanism as Japan. Buy your own long-term bonds --> push yields down.
The dollar index is at 99 and gold just hit an all-time high of $5,595.
The Brookings Institution warns that he is "playing with fire" and risks "a devaluation spiral like the yen." But, he knows exactly what this does. He made $3.5 billion because he knew what this does.
So, the man who spent 40 years profiting from currency collapses is now running the same playbook on the dollar. Nothing to see here....
Scott Bessent looks to be intentionally crashing the $.
I studied currency collapses and found that there were 7 indicators that preceded every major currency collapse in modern history.
I then measured the US dollar against those 7.
And as of right now, based on what Scott Bessent did last week, we have hit all 7 indicators.
No country in modern history has met all 7 and avoided a currency collapse. None.
And this doesn't look to be happening to us, it looks to be being done to us, by the people who swore an oath to prevent it. And they are getting rich while they do it.
Full article is up on Substack now (link in bio and it's free). I also give the things I am eyeing to hedge it and what we can do to fight it.
🌋STEWART THOMSON CALLING FOR $1,000 MOVE IN GOLD WITH EVERY 1% INCREASE IN RATES ⚠️
🧊Institutional confidence in the Fed is on thin ice, and now confidence in the Treasury is tumbling too.
US rates (and stagflation) began a new 40yr cycle in 2020…& what lies ahead is likely a $1000/oz gain for gold for each 1% rise in rates.
🌅“Righteous glory” awaits gold investors:
https://t.co/mqfI1zQltW
@ElkinsCattleCo@Forklift5909 For most farmers using the standard cash method of accounting, a born calf has a zero tax basis. The IRS does not require you to assign a value or declare income when a calf is born; instead, the feed, vet, and care costs to raise it are deducted annually as ordinary bizexpenses.
@ElkinsCattleCo You’re clearly not a farmer. Farmers breed their cattle. They also grow their own hay and have fields for them to graze. Subsidies and selling of corn and beans make of the other part of farming typically.
@panpalobar Pot meet kettle. MO was clear in his forecast that there would be a drawdown and admitted it was at a lower than expected price and longer in duration. $35 to $120 is a 3x+ move. Whine a bit more. Even if we only go to $200 this next move, direction and steepness is correct.
Commodities follow a 30 year cycle - 15 years up, 15 years down. The previous top was in 2011. This means the bottom happened recently (which is obvious now). More importantly, this means commodity prices will rise for the next 15 years. Dan Krupka
@silvertrade He’s got the comparison wrong. We’re in the first move/spike to $700. The current move is the steep one that took gold to $1000. Similar move would take gold to $7800ish and then back below $6k.
@Ropespinner2@JonErlichman You mean they received professional guidance from an investor who bought 400k in equity that netted them $1.5billion. Sometimes the experienced person gets you to the next level.
@MakeGoldGreat That was just the initial breakout and backtest…..imagine how intense the main handle move will be. Many will be left behind as large down moves are expected as well.