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Bill’s Commentary:
“On crypto…but this guy believe dollars are “money”. They are not; dollars are IOU promises from a bankrupt entity.”
Bill’s Commentary:
“Gold used as an ATM”
Behind Turkey’s Gold Sales: The Biggest Ever Plunge In Foreign Reserves
Shortly after the Iran war started, with gold unexpectedly tumbling, we showed that the reason behind gold’s paradoxical move – after all, the precious metal has traditionally been a store of value in times of geopolitical stress – was the furious liquidation of gold by emerging markets, in this case Turkey, scrambling to obtain reserve dry powder so Ankara could cover soaring costs of energy imports.
And indeed, the latest central bank data showed that Turkey’s foreign reserves had their biggest monthly decline on record in March, as the Iran war triggered global selloffs in emerging market assets and strained the lira.
Bill’s Commentary:
“JB, this is very good, but one thing he forgot is what’s most important; Gold is real money and as such it cannot default… Bill”
Bill, This leads directly to a US Treasury issues currency. JB –
Macro Liquidity by Sunil Reddy
@Macrobysunil
Gold bonds become inevitable when sovereign debt enters a confidence crisis.
Because the Treasury has a more dangerous problem:
What happens when long-term bonds stop behaving like “risk-free assets” and start trading like duration-heavy risk assets?
At that point, the issue is no longer just yield.
It is trust.
If investors no longer want 20Y or 30Y paper because inflation risk, fiscal risk and rate volatility are too high, the Treasury needs a workaround.
That workaround is gold-linked debt.
Why?
Because gold bonds solve three problems at once:
They reduce duration fear
A normal 30Y bond is just a promise of future dollars.
A gold-linked bond gives the buyer exposure to sovereign credit, but with a hard-asset anchor attached.
That makes long-term debt easier to sell when confidence in fiat duration is weakening.
They create a new collateral layer
The global system is built on Treasuries as pristine collateral.
But when long bonds become volatile and start behaving like risk assets, the collateral base gets questioned.
Gold-linked sovereign paper becomes a bridge:
Sovereign-backed, but not purely dependent on duration.
They bring reserve buyers back
This is the real motive.
Foreign reserve buyers may not want more long-duration Treasuries.
But they may still want US sovereign paper if part of the return is linked to gold instead of future dollars alone.
That is how you keep reserve buyers inside the system without forcing them to hold pure fiat duration risk.
So gold bonds are not about replacing Treasuries.
They are about making long-term debt sellable again when the bond market starts questioning the credibility of fiat duration.
The endgame is gold being used as collateral to keep the paper system alive.
Bill’s Commentary:
“Imagine that, they told us it was the most secure election ever?”
Bill’s Commentary:
“Some very sad math”
Bill’s Commentary:
“Berkshire Hathaway now sits on $400 billion on cash, by far the highest ever. I’ve spoken of this recently and been chided by people who think either I or Warren Buffet don’t understand the risk of holding paper. I would just say, could they actually buy $400 billion worth of gold? Could the market supply it without failing? Would Berkshire not be “visited” as they surely were back in the early 2000’s regarding his 130 million ounce silver holding (which was promptly liquidated)? Each time Warren Buffet has held very high cash holdings, people called him a dinosaur that did not understand finance…and each time the market eventually cracked at least 40%. This time will be no different with the exception of credit markets, which will also be turned upside down.”
Buffett Cash Hoard: Why $397 Billion Sits On The Sidelines
$397 billion. That’s how much “Buffett cash” now sits on Berkshire Hathaway’s balance sheet after Greg Abel’s first quarter as CEO. Warren Buffett left $373 billion behind when he stepped down at the end of 2025. Three months later, after Abel’s debut earnings report on Saturday, the hoard had grown by another $24 billion. The figure is bigger than the GDP of Hong Kong or Norway. It exceeds the market value of every American corporation except a tiny handful of mega-cap names. And it earned roughly four to five percent in Treasury bills while the S&P 500 ripped through three of its best consecutive years in modern history.
That Buffett cash hoard has also created a lot of speculation, innuendo, and assumptions, which is what I want to walk through in today’s discussion. Primarily, what that cash hoard actually represents, the popular theories explaining it, and what it really costs shareholders to hold.
Bill’s Commentary:
“I thought insider trading was illegal?”
CNBC’s Jim Cramer Left Literally Speechless by Trump’s Personal Stock Trades
CNBC anchor Jim Cramer was left literally speechless on Monday after he was informed that President Donald Trump had been trading stocks in Intel.
During a discussion on CNBC’s Squawk on the Street, Cramer remarked, “You know, the president, U.S. government got in. He could sell it and get that–”
Co-host Carl Quintanilla interrupted, “Yes, and according to the filings, the president’s been trading some Intel in the quarter, yeah.”
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The latest from USA Watchdog –
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Bill’s Commentary:
“For real?”
Bill’s Commentary:
“There is no alternative to water…”
Georgia 30 Million Gallon Water Grab Puts Cheyenne Data Centers Under New Scrutiny
When a Georgia data center quietly drew 30 million gallons of water during a drought, no one noticed until residents’ water pressure dropped. This controversy is causing concern in Cheyenne where 70-some data centers are in various stages of discussion.
(Elijah Nouvelage Bloomberg via Getty Images)
A Georgia data center’s 30-million-gallon water use over an unspecified timeframe is sparking concern in Cheyenne, where 70-some data centers are in various stages of discussion. City officials say safeguards exist, but critics and farmers warn of long-term water, housing, and economic impacts.
When a Georgia data center quietly drew 30 million gallons of water during a drought, no one noticed until residents’ water pressure dropped, prompting questions. Only then did community officials discover that a high-tech data center had been pulling tens of millions of gallons from a strained system without paying for it first.
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Bill’s Commentary:
“Does Fauci perjure himself at this hearing?”
Bill’s Commentary:
“Starmer provides a “positive business environment”?”
Jamie Dimon warns JPMorgan may rethink new London office if ‘very smart’ Starmer is ousted as UK PM
JPMorgan Chase may reconsider a planned multibillion-dollar office tower in London if U.K. Prime Minister Keir Starmer is ousted, the bank’s CEO, Jamie Dimon, said on Wednesday.
Speaking to Bloomberg in Paris, the head of America’s biggest bank by assets said that while a change in leadership would not alter JPMorgan’s fundamental strategy, it could force the lender to rethink its future in the U.K. capital.
JPMorgan announced late last year that it would build a new 3 million-square-foot tower in London’s Canary Wharf financial district to house up to 12,000 employees and serve as its U.K. headquarters. Construction is expected to take six years, during which time JPMorgan will also renovate its existing building on London’s Bank Street.
Bill’s Commentary:
“Can the Federal Reserve fix this with proper monetary policy? Or, can they print silver bars for delivery? Just askin’ for my friends…”
U.S. Wheat Crop Forecast To Hit Half-Century Low As Drought Hits Breadbasket
Chicago wheat futures surged on Tuesday, hitting two-year highs after the USDA’s latest WASDE report signaled a much tighter U.S. supply outlook than traders had anticipated.
Production stress across America’s breadbasket is now converging with a megadrought and mounting fertilizer constraints, adding upward pressure on prices at a time when global food prices are rising.
The latest from USA Watchdog –
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Bill’s Commentary:
Bill’s latest interview with Dr. Dave Janda (Also posted under Interviews)
Bill interviewed at Liberty and Finance (Also posted under Interviews)
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Bill’s Commentary:
“I’ll believe this when I see it!”
@WatcherGuru
JUST IN: 🇺🇸 President Trump still plans to audit Fort Knox to confirm its $700 billion gold reserve has not been stolen.
Bill’s Commentary:
“Got silver?”
The Battery That Just Beat Toyota. What It Means for Silver.
FX Empire ^ | 7 May 26 | Radomsky
Posted on 5/11/2026, 5:45:44 AM by delta7
On April 14, a Chinese battery startup backed by one of the world’s largest automakers rolled the first A-sample all-solid-state battery cells off a production line in Guangzhou….The company is targeting GWh-scale output by the end of 2026, twelve to eighteen months ahead of where Toyota’s timeline stood at the start of this year. The silver market has not priced this in….
…Greater Bay Technology’s A-Sample Changes the Timeline
Greater Bay Technology (GBT) is a battery startup backed by GAC Group, China’s fourth-largest automaker by volume. On April 14, GBT confirmed that A-sample all-solid-state battery cells are now rolling off its production line in Guangzhou’s Nansha district. The specifications: energy density of 260 to 500 Wh/kg (compared to roughly 250 to 350 Wh/kg for current liquid lithium-ion); stable 2C to 3C fast charging; and a proprietary deep eutectic composite electrolyte that passed needle penetration, extrusion, and thermal shock testing without thermal runaway. Vehicle integration in GAC’s Hyptec models is the target platform. GWh-scale production is targeted by the end of 2026. That last point is what changes the industry timeline. Toyota has been the most credible name in solid-state development for the better part of a decade. Its announced target for mass production has been 2027 to 2028. GBT’s April 14 announcement puts A-sample production hardware in Guangzhou now. Not in 2027. Not in a laboratory. The commercialization clock has moved. Why Solid-State Batteries Are a Silver Story
Samsung SDI’s leading solid-state architecture uses a silver-carbon (Ag-C) composite anode, approximately 5 grams of silver per cell, and roughly 200 cells per pack, producing around 1 kilogram of silver per 100 kWh of battery capacity. In a mid-size EV with a 75 kWh pack, that is roughly 750 grams of silver per vehicle. Current liquid lithium-ion EVs use between 25 and 50 grams of silver per vehicle, primarily in electrical contacts, sensors, and thermal management. Solid-state architecture at Samsung SDI’s silver intensity would represent a 15x to 30x increase per vehicle in silver content….
Bill’s Commentary:
“Ignore Michael Burry at your own risk…”
Michael Burry says the market today feels like ‘the last months of the 1999-2000 bubble’
Michael Burry of “Big Short” fame is warning that the stock market’s fixation on artificial intelligence is beginning to resemble the final stages of the dot-com bubble.
“Absolutely non-stop AI. Nobody is talking about anything else all day,” Burry wrote Friday in a Substack post after listening to financial television and radio coverage during a long drive.
The investor, best known for predicting the U.S. housing crash, said stocks are no longer reacting meaningfully to economic data such as jobs reports or consumer sentiment in a logical way. The S&P 500 rose to a fresh record high Friday as traders focused on a slightly better-than-expected April jobs report rather than a record low reading in consumer sentiment.
Bill’s latest interview with Dr. Dave Janda (Also posted under Interviews)
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Bill’s Commentary:
“Gold coming back into the system after an all out (failed) attempt to demonetize it…”
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Bill’s Commentary:
“Weekend comedy!”
The latest from USA Watchdog –
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HANTAVIRUS
Bill’s Commentary:
“Imagine that!”
U.S. Army Clinical Trial with Hantavirus DNA Gene Therapy Inection-98% of Participants Suffered Adverse Events
According to Nicolas Hulscher (Epidemeologist and Foundation Administrator at the McCullough Foundation) via LinkedIn…’The US Army already ran a clinical trial with an Andes strain hantavirus DNA gene-therapy injection — the exact same strain behind the cruise ship outbreak.
98% of participants suffered adverse events.
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Bill’s Commentary:
“It’s different alright… never before has so much leverage been piled on just to abort mild corrections. Assets MUST inflate or the system dies from deflation. It was true in the 1950’s when Richard Russell coined the phrase and still true today…”
The Permanent Distortion Theory
“This time it’s different” is supposed to be the dumbest phrase in investing.
It’s the phrase people use right before they get obliterated. It was the rallying cry of dot-com lunatics buying companies with no revenue in 1999. It was the intellectual foundation of housing perma-bulls in 2006 who believed home prices could only go up because, apparently, Americans had collectively decided real estate was immune mathematical reality.
It’s typically what people say when they’re trying to justify paying absurd prices for dogshit assets while pretending the laws of valuation have been permanently repealed: “this time it’s different”.
Which is why it’s deeply annoying and borderline humiliating for me to admit that this time, it actually may be different.
The latest from USA Watchdog – Bill interviewed – (Also posted under Interviews)
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