Loading ...BIS Gold Swaps
While I found the whole piece to be interesting, these couple of paragraphs were especially so. “In these circumstances the room for the Fed to keep raising interest rates seems restricted and hence it seems that the BIS and some of its owners — other central banks — might be questioning the role of the bank in these swaps and the obligation to make future deliveries of gold.
Indeed, a cynic might claim that the recent deal on the federal government debt makes it easier to defend a banking crisis by allowing the U.S. government to offer more bank deposit guarantees. The debt ceiling deal may even make a revaluation of gold easier for the United States to carry out.” https://goldseek.com/article/bis-gold-swaps-rose-39-may-amid-us-debt-turmoil
The second paragraph suggesting the debt limit deal could help facilitate a future revaluation of gold by the US, would be the only reason for me to change my mind, that McCarthy sold out the GOP bill to cap spending. While I will believe it when & if it ever happens, maybe that is why the Republicans who said they were going to call for the Speakership to be vacated, haven’t yet done so?
What about silver Chartsmaster? You are so quiet about silver. I invested thousands based on your call it was going higher and then…thud…..it went down, down, down. lol….just kidding. My money is still in the bank where it belongs. But your charting needs an update.
I know you are teasing and that’s fine but the call on silver was not a one day trade. Yes, they smashed it overnite after yesterday’s FED nonsensical talk, but the reversal from early this morning is a good start. As I said as much as there was a chance for the other two scenarios that would be more exciting it was likely to be slow and steady progress. Not something warranting talking about each day.