On Friday, Federal Reserve Chairman, Kevin Warsh, spoke at Jackson Hole. He reiterated a commitment to the 2% inflation target and noted that inflation isn’t under control. Most importantly, he acknowledged that the current policy isn’t restrictive. His predecessor, Jerome Powell, used to comment often that he thought Fed policy was restrictive. Most saw the … Read more
It’s just past 1pm in New York as I write this. $BRR up 10.2% Gold up 3.4% Bitcoin up 5.7% Silver up 3.4% 10-Year Treasury yield down 3bp (.03%) 30-Year Treasury yield down 7bp (.07%) That’s a lot of volatility in assets that typically aren’t very volatile. It’s also a lot of volatility for $BRR … Read more
The CPI rose again and cracked 4%. Energy is still expensive, but you already knew that. The big issue is Powell never got inflation under control. People panicked that Warsh would cut. He can’t and at this point, there’s nothing the Fed can do (something I’ve been saying for the past two years). Bitcoin has … Read more
Bitcoin has a volatile price history. An article on Portfolio Lab says there have been 16 drawdowns of 20% or more in the past 16 years. There have been four crashes of 75% or more in the past 15 years plus another three of around 50% in that time-frame. That amounts to one 20% drawdown … Read more
The incredible volatility in gold, silver, and Bitcoin continued for most of this week. We give you a quick update along with links for those of you who want a better understanding of what’s really happening. Anthropic announces that its Claude AI can take over functions currently being handled by expensive monthly software subscriptions. SaaS … Read more
The dollar price of Bitcoin is down almost 50% from the all-time highs reached just a few months ago. The Bitcoin haters are busy declaring victory (and ignoring that many of them have been negative on the digital asset when it was trading at $1,000). Some of the defenders are saying it’s a great time … Read more
Thanks to the Manhattan Alternative Investment Network for hosting me last night for a conversation on gold, silver, Bitcoin, and why Kevin Warsh can’t change the direction of the Federal Reserve or the continuing debasement of the dollar. Link to the video below. The Federal Reserve is Now Irrelevant
