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Gold & The Dollar Surged This Week, Stocks & Crypto Purged As Reflation & WW3-Risk Wreck Rate-Cut Hopes Inflation fears/promises/threats were realized this week with CPI and PPI hot (yes PPI) and UMich infl exp rising too. Inflation data has been surprising to the upside all year and growth data not so much… Source: Bloomberg…

“Support Your Local Antifa”: Alabama Man Arrested In Alleged Political Bombing Authored by Jonathan Turley, Kyle Benjamin Douglas Calvert, 26, has become the latest Antifa member arrested for alleged political violence. Calvert is accused in the explosion of an IED device outside of Alabama Attorney General Steve Marshall’s office in downtown Montgomery at around 3:42 a.m. on…

DEI Cronyism And Woke Grifters Authored by Victor Davis Hanson via American Greatness, When ideology replaces meritocracy or provides immunity from the consequences of illegal behavior, systemic mediocrity follows. Under toxic National Socialism, Stalinism, and Maoism, millions of cronies and grifters mouthed party lines in hopes that their approved ideology would allow them to advance…

Stocks Surge, Goldgasms To Record High After “Adjusted” PPI Sparks Buying Frenzy What started off as another ugly day with stocks tumbling and yields surging following yesterday’s VaR-shock inducing CPI print, quickly reversed after the market – in its infinite stupidity – took what was a hot PPI print (core PPI came in at 2.4%…

Shares Of Morgan Stanley Sink After Multiple Federal Regulators Probe Wealth-Management Practices Shares of Morgan Stanley stumbled in the late afternoon trading session in New York after The Wall Street Journal reported multiple federal regulators are probing the investment bank/financial services company over how it vets wealthy clients who are at risk of laundering money through its massive wealth-management…

‘All Bets Are Off’ – Market-Mayhem After Consumer Prices Crush Dovish-Dreams Borrowing a phrase from one of our favorite movies “all bets are off” after this morning’s hot-hot-hot CPI print The fourth hotter-than-expected core inflation report in a row got investors reevaluating expectations around the Fed’s first rate cut… Source: Bloomberg Goldman’s Diana Asatryan noted…

US Could Launch Joint Retaliatory Strikes With Israel If It Is Attacked By Iran: Official Update(1550ET): Upping the ante, a US official has told Al Jazeera that the Pentagon could intervene militarily if there is an Iranian attack launched against Israel. According to a translation from Al Jazeera Arabic, the US source said, “We do not…

“Hot, Hot, Hot”… And Then There Were None By Peter Tchir of Academy Securities And Then There Were None? The moment CPI hit the tape, Buster Poindexter’s “Hot, hot, hot” popped into my head (not a song I want on replay, but I’m stuck with it). In any case, the market is repricing the potential…

PAMP It: Costco Selling Up To $200 Million In Gold Bars Per Month, Wells Fargo Estimates Last December, wholesale retailer Costco announced that they had sold over $100 million worth of gold in Q3 2023. “You’ve probably read about the fact that we’re selling one-ounce gold bars. We sold over $100 million of gold during…

Quit Complaining About Inflation! Authored by Jeffrey Tucker via DailyReckoning.com, The New York Times has published a strange article by Justin Wolfers, an economist at the University of Michigan. The headline is that his economist brain makes him say with regard to inflation: “Don’t worry, be happy.” The article gives the reader as much reason to…

US Sent Seized Iranian Weapons, Ammo To Ukraine As Resupply Efforts Hit Desperation The Pentagon announced Tuesday it has delivered thousands of small arms previously seized from a shipment intended for Yemen’s Houthi rebels, along with over half a million rounds of ammunition. The US believes the seized arms were supplied by Iran, and recent…

Here’s What Will Push Oil Above $100/Bbl Back in early December, just after Powell’s dovish pivot shocked everyone, many closet oil bulls like BofA’s energy strategist Francisco Blanch, predicted that a dovish Fed would send oil back to $100. Unfortunately for him, oil did nothing and just one month later, as no oil buying had…

Solana Is Cryptoeconomic Socialism Authored by Omid Malekan, Most people still don’t understand that the fundamental question of scaling isn’t technical, it’s philosophical. Monolithic chains want to give the same amount of cryptoeconomic security to a $1 transaction as they do a $1 million transaction. This is highly inefficient. Nothing else in the economy works…

If Biden Loses The Election, What Will Be The Top Reason By Mish Shedlock of MishTalk New Geography claims EVs will decide the election. That’s a reason, but it’s well down my list. What about yours? EVs and the Election New Geography says Electric Cars Will Decide the Outcome of the American Election. Just last…

Georgia Students Shut Down Congressman In Latest “Deplatforming” Authored by Jonathan Turley, We have another successful “deplatforming” of a speaker at a university this week after Rep. Mike Collins (R-GA) had to be removed from an event at the University of Georgia. This follows incidents discussed this week involving student protests at Tulane and Maryland. Rep. Collins was…

Iran Threatens Israel’s Embassies: “No Longer Safe” The Iranian government is apparently seeking to capitalize on the Israeli public and leadership being on edge due to continuing fears that an Iranian retaliation attack is imminent after last week’s Israeli airstrike on Iran’s embassy complex in Damascus. An adviser to Iran’s supreme leader on Sunday has…

Elon Musk Says X Will Defy Order From Brazil’s Supreme Court After Twitter Files Authored by Melanie Sun via The Epoch Times, Owner of X Corp. Elon Musk said on the platform Saturday evening that the company had decided to lift all restrictions on Brazilian accounts targeted by an order from the nation’s Supreme Court.…

Too Hot To Handle: Gold Due For A Correction? Via SchiffGold.com, With gold hitting yet another awe-inspiring all-time high in the wake of Powell’s remarks reassuring markets (more or less) to expect rate cuts in 2024, a few analysts are pointing out risk factors for a correction – so is there really still room to…

Mexico Breaks Diplomatic Ties With Ecuador After Police Raid On Quito Embassy  Mexican President Andrés Manuel López Obrador is severing diplomatic relations with Ecuador following a police raid on the Mexican embassy in Quito, Ecuador’s capital, where they arrested former Vice President Jorge Glas, who had sought political asylum in the embassy after being indicted on…

World War II Didn’t End The Great Depression By Brian McGlinchey via Stark Realities A principal goal of Stark Realities is to “expose fundamental myths across the political spectrum” — and few myths are as universally embraced as the notion that US participation in World War II lifted the American economy out of the Great Depression. This myth is…

Oil & Gold Soar On Week, But ‘Good Data’ Wrecks Rate-Cut Hopes, Slamming Stocks & Bonds It was a ‘good’ week for macro data… Source: Bloomberg …but ‘soft’ survey data remains mired in depression as the ‘aggregate’ hard data holds strong… Source: Bloomberg Of course, good news is bad news for the doves and rate-cut…

Credit Card Debt Surges To New All-Time High, Just As Card APR Rates Hit Fresh Record Just when you thought US consumers had finally learning their lesson, and had stopped buying stuff they can’t afford with money they don’t have… we got the latest consumer credit data which collapsed that particular thesis in a millisecond.…