Note how #backwardation in #WTI #oil narrowed Friday. Front months down while distant months were up. Markets are beginning to accept that the ongoing wars have longer term implications even if fighting were to stop tomorrow. As I mention in this interview, markets are starting to understand there is an oil inventory problem. Inflation will worsen, and a 1/4% rate hike is not going to lower oil prices. kingworldnews.com/james-turk…

The #ForceMajeure notices have begun. #Oil refineries now realize that promises for future delivery are sometimes unreliable. Very bullish for physical #oil #gold #silver. Own things, not promises. More here: kingworldnews.com/james-turk…

Foreign #TBond sales are pressuring prices, contributing to rising yields. Even countries friendly to #US interests are selling as federal #debt continues its upward climb. Unanswerable questions I’ve been pondering for some time: With liquidity tightening, who are the buyers? Where are their #dollars coming from? Are games being played to ‘paint-the-tape’ and fight the trend toward higher yields even while the #credit & #currency #debasement #risks are becoming more apparent, just like they did in 2008? I expect answers from Mr Market in the weeks.

Critical moment approaching. Markets say an #InterestRate hike a near certainty, but what will the #FOMC do? Raising rates 1) won’t stop #USD debasement 2) will further weaken the #economy already wobbling b/c of higher #oil prices & 3) worsen federal gov’t #deficit now approaching $2 trillion. Fiat currency systems always break eventually; explains why physical #gold #silver make sense to protect your #PurchasingPower. They’re #money that is not based on anyone’s promise.

There will be consequences to this unrelenting surge in Japanese #InterestRates. Japan’s major #banks just reported record FY2026 profits but can they avoid what happened to #SiliconValleyBank when interest rates rose?

The collapse in #Hormuz transits so far has been limited b/c it has been offset by temporary relief from #global drawdowns of strategic #oil reserves. Eventually this decline in inventory levels is going to matter; having the ‘real thing’ always does matter when a #commodity #market goes into a squeeze. Front month futures #prices have been consolidating with limited downside pressure, suggesting that we should be watching for an upside breakout. If it turns into a squeeze, watch out above or for a #ForceMajeure.

Last week #gold +5.6% #silver +6.9% but still in a correction from the big gains earlier this year. If #PreciousMetals follow a normal seasonal pattern, expect an upward trend & higher prices into Q1. Then break out of the consolidation oval into new highs later this year or 2027

Thomas Jefferson argued that no generation can legitimately bind the next by leaving accumulated #debts to be paid by those who had no voice in incurring them.

Sounds great but where is the #money going to come from? The gov’t is broke, with no pockets to reach into. It means more money printing, #dollar debasement, #inflation, weaker #USD, higher #gold & #silver – in other words, what the markets are doing after today’s announcement.

They’re all climbing. Which country will be 1st to reach the #TippingPoint, when their #InterestRate burden outstrips revenue growth? Probably Japan, but the US is also in the running. fgmr.com/get-ready-for-anoth… fgmr.com/heading-toward-anot…

Not good news. It’s another throwback to the 1970s when the #US gov’t fin’l position deteriorated b/c of rising #InterestRates #inflation & economic troubles. With #TBond yields near 20-yr highs, the current picture looks likely to worsen, which is bullish for #gold & #silver.

Watch #USD exchange rate vs other fiat #currencies (except #JPY, which has its own problems). If #US rates rise & #dollar doesn’t strengthen, the trickle out of fiat into physical #gold will accelerate. The federal gov’t can’t afford 5% #InterestRates. fgmr.com/get-ready-for-anoth…

I recommend watching this video by @JayMartinBC with his clear explanation of the implications for Jul 24 when #China stops #PaperGold trading & moves purchases into physical #gold.

I assume you mean DCA (Dollar-Cost Averaging), which is what I have been recommending people do with #gold since launching goldmoney.com in 2001 (now traded on the #TSX: symbol #XAU). Also, you don't seem to understand that gold is not an investment, it is #money b/c it preserves #PurchasingPower. Though not used as currency anymore b/c of govt's autocratic #LegalTender laws, DCA-gold you have accumulated is your #savings, which everyone needs as a 1st step to building a portfolio. The 2nd step is buying stocks if you are prepared to take the risk. I agree that people should avoid #debt, and have never recommended it, except for fixed-rate mortgages to buy your 1st house. So unless you were lucky to pick the right stocks & sell them at the right time (low probability for everyone except #WarrenBuffett), I don't see how anyone could have preserved purchasing power since 2000 better than gold as this chart shows, and this favourable gold trend has not ended. Continue to DCA gold.

Two main choices for portfolios are #cash (#liquidity) or #equities (#investments). You place your #PurchasingPower where it protects/grows your #wealth. In a fiat #currency world, it’s hard to beat physical #gold, #money of the #American #Constitution.

Both of these gents are old enough to remember that #SovereignWealthFunds as we now view them didn't exist 50 years ago. So who are they kidding? SWFs are a consequence of the #PetroDollar scheme hatched after #Kissinger persuaded the #Saudis to accept #US #Tbonds in payment of #oil instead of #gold. Payments in #dollars at least nominally linked to gold ended in 1971 when #Nixon broke the #dollar's constitutional link to gold & #silver. Had countries followed the #FirstPrinciple that only goods & services pay for (i.e., extinguish the obligation) for goods & services, SWFs wouldn't exist today. It will be chaos when this scheme finally ends & these funds move out of #IOUs into real/tangible #wealth, which may be soon given the way current events are unfolding.

I last posted this #silver chart on 9 May. The correction 'circle' I drew back then by chance still contains prices, but the bottom of the circle is now being severely tested. Will it hold? I discuss my outlook for silver #gold & #CrudeOil here: kingworldnews.com/james-turk…

This chart illustrates the task ahead for #KevinWarsh. To achieve a 2% #inflation rate, the #FederalReserve balance sheet needs to grow by 2% consistently year-after-year. I hasn't done that since the #dollar link to #gold was severed in 1971. The 2% growth rate is intended to match #MiltonFriedman's k-percent rule. Nothing achieves that rate better than #gold. It's only mined when profitable to do so & dispersed in the earth's crust in such a way that it only comes out of the ground on average a bit less than 2% p.a. It's a blend of capital working in harmony with nature (natural money). Here's the historical data. goldmoney.com/research/the-a… #CentralBank experience in a fiat #currency world has demonstrated their mismanagement. Will #Warsh do any better than his predecessors? Like them he is unlikely to withstand the political & banker pressures to inflate, which is inherent to a monetary system without external discipline imposed by nature. Warsh could control inflation by returning to the #money of the #Constitution, gold & #silver coin, circulating digitally or hand-to-hand, whatever the payer & payee agree, which is the way it was until 1913 when the #Fed was created.

Clear evidence in the mainstream media that #SocialSecurity is a #Ponzi scheme. More people are taking out than paying in. That cash flow reality is the fatal flaw of all Ponzi schemes no matter how they are hyped. It explains why they all collapse - eventually.