Here is a look at the gold and silver bull, inflate or die, another record, and the average person is drowning in debt.
Gold
November 15 (King World News) – Fred Hickey: Managed Money (hedge funds) still net short 16.3K gold futures contracts. Longs +9.8K to 88K contracts – still very far away from +240K to 300K contracts regularly seen in 2016 to early 2020. Shorts remain high 104K…
ALERT:
This company is about to start drilling what could be one of the largest gold discoveries in history! CLICK HERE OR ON THE IMAGE BELOW TO LEARN MORE.
How Is The Dow And S&P Down So Little?
The Kobeissi Letter: We currently have:
1. $2 trillion lost in crypto and the collapse of FTX
2. 80%+ of tech stocks in bear market territory
3. Biggest wave of tech layoffs since 2001
4. Fastest falling housing market since 2011
5. Worst earnings since Q3 2020
How is the S&P 500 only down 18%?
The Average Person Is Drowning In Debt
The Kobeissi Letter: JUST IN: Total household debt jumped by $351 billion last quarter, the largest quarterly increase since 2007.
This puts total household debt at a record $16.5 trillion.
Mortgage balances are up a record $1 trillion this year and credit card debt is up 15%. What could go wrong?
Inflate Or Die
Egon von Greyerz: The only way to handle $31T in US public debt is to “inflate it away” by eventually loosening rather than tightening Monetary Policy once it becomes obvious that US IOUs won’t find enough buyers unless there’s a money printer to do so…
Billionaire Eric Sprott is a big investor in this remarkable silver company click here or on the image below
Another Day, Another Record
Charlie Bilello: A US homebuyer now needs to earn a record $107k to afford the median priced home for sale, an increase of over 45% in the last 12 months.
Pension Nightmare Just Got Worse
Stephanie Pomboy: For my money, the most interesting…and foreboding…aspect of the downfall of Blankman-Freed’s FTX is the «revelation» that the Ontario Teachers Pension was a major investor. The coming pension crisis is going to be massive…and the switch to QE by global central banks whiplash-inducing.
This May Lead To Uncontrollable Inflation
Luke Gromen: Boomers have ~$25T in net assets & have been convinced they’re going to die far sooner than they thought just 3 years ago. The interest rate required to stop the Boomers’ resulting “YOLO” consumption binge would bankrupt the US government well before it slowed Boomer spending.
The problem with creating a policy that sterilizes CPI inflation by getting Boomers to defer comp into asset markets but then not counting asset inflation in inflation? In the long run, the deferred inflation shows up when Boomers want to trade paper for stuff & experiences.
Once Boomers start trading paper wealth for real stuff & services, US Federal debt/GDP better be very low because if it is not, the Fed will not be able to raise rates enough to stop the resulting CPI inflation without bankrupting the government. Oops.
With US Treasury recently doubling its forecast for the US deficit for the next 6 months after just 7 months of rate hikes, tough (& binary) decisions are going to need to be made. Let’s watch.
Silver
Otavio Costa: Silver has so much catch up to do. It’s likely headed a lot higher from here. The cheapest metal on earth.
Silver Is Set To Vault Higher As It Plays Catch Up
ALSO JUST RELEASED: SCARY READINGS: More Evidence Of Consumer Depression CLICK HERE.
ALSO JUST RELEASED: Rob Arnott – Will Inflation Remain Elevated For The Next Decade? CLICK HERE.
ALSO JUST RELEASED: ALERT: Uranium About To Launch Into A Massive Bull Market CLICK HERE.
ALSO JUST RELEASED: Greyerz – $32 Billion Implosion Of FTX May Usher In Collapse Of The Entire Global Financial System CLICK HERE.
To listen to Dr. Stephen Leeb discuss what this means for the price of gold CLICK HERE OR ON THE IMAGE BELOW.
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