Posts Categorized: Jim’s Mailbox

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Dismal Dave with some “hockey stick” looking charts!

Bill

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JB sent us a “funny”. I often think of this when paying for a meal, they actually gave me food in exchange for paper!

Bill

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More charts from Dismal Dave.

Bill

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This is the starting date for gold’s final position as the “Last Man Standing”.

Jim

Wall Street Sends a Message to the Fed: We Have Run Out of Places to Stuff Your Treasuries
February 26, 2021

The action in the U.S. Treasury market yesterday reminded us of the classic “I Love Lucy” episode at the chocolate factory. As the conveyor belt churns out chocolate balls faster than Lucy and Ethel can handle them, they resort to stuffing them in their mouths, their hats, and their shirts. Lucy remarks: “I think we’re fighting a losing game.”

That was the scene in the Treasury market yesterday – too much supply and no where to stuff it, causing a sharp spike in yields which set off a stock market selloff that left the Dow down 559.8 points or 1.75 percent on the day, while the tech-heavy Nasdaq fared far worse, losing 478.5 points or 3.52 percent.

That the Treasury market is now projectile vomiting T-notes should come as a surprise to no one. As the chart above indicates, yields on the 10-year note have been rising sharply since early August, with the yield more than tripling from 0.50 percent to an intraday spike yesterday of 1.61 percent. The 10-year note opened this morning at 1.52 percent.

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Our friend Keith from the North checks in to remind us we may have one doozy of a delivery month at COMEX!
Bill

Bill,

Comex…Friday being the First Notice Day for the March Precious Metal Deliveries. We also have 59,937 contracts (controlling 299,685,000-ounces) in March Silver, still in trade…Gold follows Silver, for some reason. If Comex is Bust by the standing Ag Contracts, all Hell will beset Us.

Keith

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Courtesy of GG.

Bill

Greyerz – The Clock Is Ticking: We Are Going To See Massive Wealth Destruction And The Greatest Transfer Of Wealth In History
February 21, 2021

Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals told King World News that the clock is ticking and we are going to see massive wealth destruction and the greatest transfer of wealth in history.

Each week Egon von Greyerz articles are published first on KWN.

February 21 (King World News) – Egon von Greyerz at Matterhorn Asset Management (in Switzerland): Understanding four critical puzzle pieces is all investors will need to take the flood that leads to fortune.

Why then will the majority of investors still take the wrong course and lose their fortunes? Well, because investors feel more comfortable staying with the trend than anticipating change. Understanding the four puzzle pieces below will not just avoid total wealth destruction but also create an opportunity of a lifetime.

The next 5-10 years will involve the biggest transfer of wealth in history. Since most investors will hang on to the bubble markets in stocks and bonds, their wealth will be decimated.

As Brutus said in Julius Caesar by Shakespeare:

“There is a tide in the affairs of men,

Which taken at the flood leads on to fortune.

Omitted, all the voyage of their life

Is bound in shallows and in miseries.

On such a full sea we are now afloat.

And we must take the current when it serves.

Or lose our ventures.”

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