All Roads Lead to Gold (and Silver)
The USD doesn’t have to go down for GOLD/USD to go up
London | Brisbane. 16th Feb 2025.
14 months in and what has Trump actually achieved? Maybe less immigration, maybe more revenue via tariffs…until now. But not much else. Deposed Maduro via fake offensive.
In one week, though, we have an armed man killed at Ma-a-lago, tariffs suspended by the supreme court then reintroduced via temporary emergency legislation | hospital ship to Greenland | alien dossiers being released, more kinetic action in Iran, and Cuba’s next, more Epstein files released that don’t mention him.
And US GDP 1.4% QoQ (expected 2.8%), PCE (U.S. Bureau of Economic Analysis) inflation higher despite dodgy CPI (Bureau of Labor Statistics ) lower. Interest rates are way higher in the US than in other western countries, and the USD has declined 11% in the last year.
Elsewhere Blue Owl (private credit) suspends withdrawals, auto loan delinquencies spike and banks are moving distressed debt off balance sheets with Synthetic Risk Transfers.
The silver delivery issue has arrived as COMEX currently can’t cover the silver that needs to be delivered for the March futures contract.
Mexican cartels being executed by security services is a new black swan. With all this going on no wonder gold is moving higher again. Non sovereign, no counterparty risk, no-one’s liability.
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Ian Reynolds: Trader & Investor | Former Bank Foreign Exchange Market Maker | Early investor in Bitcoin & Tech Founder. Helping investors understand the radical changes coming in macroeconomics and geopolitics.
Suberia Capital: Special situations investing for high net worth individuals.
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