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Bill’s Commentary:
“The US Treasury intervenes for the first time in 28 years because… Japan, the largest holder of Treasuries would be forced into selling. How convenient!”
Why the U.S. stepped in after decades to prop up Japan’s yen — and what’s at stake
Washington’s decision to join Japan in supporting the battered yen has prompted questions over what motivated the rare coordinated intervention, with analysts pointing to concerns over U.S. Treasury markets and Japan’s financial system.
Tokyo has grown increasingly wary of the yen’s decline, which recently dropped to its weakest level against the dollar in nearly four decades. The yen had been hovering at multi-decade lows, sliding to 163.73 per dollar last Thursday before rebounding to 157.57 on Friday.
The coordinated intervention was the first U.S.-Japan joint operation to buy yen since 1998, and the first coordinated intervention involving the two countries since the G7 acted to weaken the yen after the 2011 earthquake.
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Bill’s Commentary:
“5 years later, after all the “conspiracy theorists” were proven correct…CNN wants to double down on their fake news? Bravo RFK Jr.!”
‘You’re Talking Nonsense!’ RFK Jr. Berates CNN’s Bash in Fiery 22-Minute Brawl On Fauci, Trump and Vaccines
Robert F. Kennedy Jr. melted down and berated CNN’s Dana Bash in a wild brawl over Dr. Anthony Fauci, President Donald Trump, and vaccines.
In a marathon battle on CNN’s State of the Union Sunday, the HHS Secretary — a years-long Fauci critic who has ramped up his attacks in recent days — defended Trump’s handling of the COVID-19 pandemic despite the fact that Trump kept Fauci in a position of power.
“You have been placing nearly all the blame on the COVID pandemic and the way that the U.S. Responded to it squarely with Dr. Fauci,” Bash told Kennedy. “But of course, he worked for President Trump. Does President Trump also deserve some of the blame?”
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The latest from USA Watchdog –
Bill’s Commentary:
“More winning?”
U.S. Embassies Urge Citizens in the Middle East to ‘Be Prepared to Depart’ Amid ‘Fluid’ Situation with Iran
U.S. embassies in the Middle East issued simultaneous warnings Saturday for citizens to “be prepared to depart” the region, citing the “unpredictable” Iranian regime.
The warning comes as CBS News reported the United States and Israel are preparing for a new round of strikes against energy infrastructure in Iran.
Word of a possible new round of strikes comes as President Donald Trump is facing pressure at home over the war, with critics fearing the conflict has become an unwinnable quagmire.
Bill’s Commentary:
“Margin is a double edged knife!”
How Leopold Aschenbrenner built a $45 billion AI hedge fund — and lost most of it in days
Two years ago, Leopold Aschenbrenner argued he was one of few people in the world who saw the future clearly.
In a sprawling, 165-page essay that became required reading in Silicon Valley, the former OpenAI researcher positioned himself as a kind of prophet for the coming age of artificial super intelligence.
But this week, the limits of Aschenbrenner’s vision were on display when the AI-themed hedge fund he runs — named Situational Awareness, also the title of his viral June 2024 manifesto — ran into the harsh reality of tumbling semiconductor stocks and Wall Street margin calls.
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Bill’s Commentary:
“Since the high in interest rates back in 1982, history has shown that each and every bubble has been popped by rising interest rates. This time is a little different…in a bad way. This time, the debt is magnitudes larger than ever before, and central banks are tightening with rates at 19 year highs. What could possibly go wrong? Maybe coordinated?”
30-year Treasury yield hits highest level since 2007 after Fed keeps rates unchanged
Yields on longer-dated U.S. Treasurys rose on Wednesday, as traders weighed whether the Federal Reserve can keep inflation at bay following its latest monetary policy decision.
The 30-year Treasury bond yield jumped 10.5 basis points to 5.201%. It also hit its highest level since July 2007 at 5.244%. The benchmark 10-year note yield also climbed nearly 7 basis points to 4.671%.
Shorter-dated Treasurys rose, pushing yields lower. The 2-year yield traded 4 basis points lower at 4.236%.
Bill’s Commentary:
“Oops!”
AI investor Leopold Aschenbrenner forced to unwind all public stock positions after steep losses, sources say
The battered hedge fund founded by former OpenAI researcher Leopold Aschenbrenner is unwinding many of its trades after big losses on artificial intelligence stocks and a bad bet against software stocks left it scrambling to raise cash, according to people familiar with the matter.
The prime brokers for the fund, Situational Awareness, have been rushing to raise cash to meet margin requirements, the people said. Ken Griffin’s Citadel hedge fund reached a deal to buy the fund’s publicly traded assets, people familiar with the deal said.
Bill’s Commentary:
“The revaluation will take place, but from a fiscal standpoint it will only be a drop in the bucket for the US Treasury.”
The Gold revaluation – Part 2: How it actually works
In Part 1 (click here) I showed you seven facts nobody was connecting.
Today I show you the accounting behind it, and why this could happen without a single vote in Congress.
One accounting entry. Over $1 trillion unlocked. Here is exactly how it works.
The latest from USA Watchdog –
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Bill and David Morgan interview (Also posted under Interviews)
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Bill’s Commentary:
“I wonder what the folks from Martha’s Vineyard will say to this?”
Massachusetts Democrats To Create Muslim Commission, Recommend Muslims For Government Positions
Massachusetts Democrats recently sponsored a Senate bill creating a “permanent” government commission “on the status of people who practice Islam,” which would communicate with the government on how legislation affects Muslims and recommend Muslims for government positions.
The Senate committee on State Administration and Regulatory Oversight reported the bill, No. 2134 “favorably” and referred it to the Joint Committee on Rules, which referred it to the committee on Senate Ways and Means. That committee consists of a majority of democrats.
Bill’s Commentary:
“Please pay attention to this, you will hear about the “carry trade” later this year…”
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Bill does a radio interview with Dr. Dave Janda (Also posted under Interviews)
Bill’s Commentary:
“Conspiracy theory you say?”
@ekwufinance
Leaked 1974 government plan to disincentivize physical gold and silver hoarding:
Step 1) Create a futures market that dwarfs the physical market in size.
– Today’s paper gold vs physical gold: 133:1
– Today’s paper silver vs physical silver: 408:1
Step 2) Increase volatility to reduce demand for physical metal.
– The recent 38% intraday flash crash is a perfect example
– In modern portfolio management, volatility = risk.
By increasing volatility, you increase the perceived risk of holding physical gold and silver.
Don’t let them fool you. Gold and silver will go up, but it will be a volatile roller coaster.
Instead of being a victim of volatility, use it to your advantage and add to your favorite positions at wholesale prices.
Bill’s Commentary:
“Some very good charts and logic re silver”
Today I’m launching a series of reports in which I aim to prove that the long-term secular bull market in precious metals—gold, silver, platinum, palladium, and mining stocks—is still alive and well despite the correction the industry has experienced since January.
My view all along has been that this pullback is simply a healthy and normal cooling-off period following two very strong years, 2024 and 2025, and not the start of a new secular bear market in precious metals like those seen in the 1980s and 2010s.
Unfortunately, a large portion of the precious metals community has sunk into deep pessimism, believing the party is over after just two years and that it’s all downhill from here, so I’m writing these reports to push back against that foolish, fallacious, and short-sighted thinking.
Bill’s Commentary:
“A very special HELL awaits this man!”
Fauci’s private diary. March 2020. March 21 — “deaths 9800”: “Big front page article about me appeared in the Washington Post. Very flattering.” “my national and international fame is explosive and really unimaginable”
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Bill’s latest interview with the Australians – (Also posted under Interviews)
Title – WHY CHINA IS DUMPING THE DOLLAR TO HOARD GOLD (Bill Holter Explains) In this episode, Bill joins As Good As Gold Australia to answer your pressing questions on the unfolding global monetary reset, China’s aggressive physical metal accumulation, and the rapid deterioration of the fiat banking system. As the G7 nations drown in a 125% debt-to-GDP trap and soaring bond yields threaten institutional stability, the move away from the U.S. dollar is accelerating at a historic pace. Bill breaks down why China has effectively halted gold and silver exports while selling U.S. treasuries to hoard physical bullion—and what their new vaulting infrastructure in Hong Kong and Saudi Arabia signals for the future of global trade. Plus, we dive into Alasdair Macleod’s warnings on the 98% devaluation of the U.S. dollar and the lingering mystery surrounding the Fort Knox gold audit. Invest in Gold & Silver Bullion, Build Your Legacy. 🔔 Subscribe for more insights from leading financial experts!👍 Like this video if you agree that sound money is crucial!💬 Comment below: Are you buying gold, silver, or both? 📞 Call us on:1300 295 833🛒 Visit our website: https://asgoodasgold.com.au/ Connect with Bill Holterbholter@proton.mehttps://billholter.com/ Bill’s Commentary:
“The man is correct”
Wall Street’s AI Capex Party…It’s 2 AM & The Bar Is About to Close!
The signs are piling up faster than the hype can spin them. AI capex has been the rocket fuel for markets, but the second derivative is turning. Factors ending the party:
· Private credit stalled — flows reversing, redemptions surging, industry effectively paused.
· Enterprise demand cracking — ROI skepticism, token costs biting, data/alpha extraction backlash.
· Power constraints hitting hard — the grid can’t scale without massive, long lead time builds or dystopian reallocation.
· Open-source pressure — Chinese based DeepSeek and now the new open-source frontier model Kimi K3 are rivaling OpenAI and Anthropic frontiers labs at fraction of the price, commoditizing the economics.
Credit markets always end the party. We’re watching it live.
The latest from USA Watchdog –
Bill’s Commentary:
“The definition of insanity?”
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Bill’s Commentary:
“Good stuff!”
From Cash to Trash, Rinse and Repeat
The Continental dollar, born in 1775, was meant to finance the colonies’ fight against Britain—the American Revolution. What it actually financed was a masterclass in how quickly a currency can evaporate when it has no anchor, no credible backing, and no one willing to stop the printing presses. Hundreds of millions of Continental notes were issued with nothing but the promise of future redemption in gold or silver—which the colonies did not possess in sufficient quantity.
As wartime expenses mounted and the conflict dragged on, the colonies’ solution was a time-honored tactic. Just dig yourself a deeper financial hole by printing more currency. When confidence in the Continental buck inevitably collapsed, merchants demanded ever-larger stacks of paper for the same goods.
By 1781, a barrel of flour that once cost a few Continental dollars cost hundreds or thousands. The exchange rate against silver reached the point where it took five hundred to a thousand Continentals to buy a single hard dollar (meaning a silver or metal coin). Some states saw the writing on the wall and simply stopped accepting the notes altogether.
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Bill’s Commentary:
“Zack’s update on TRX. I wonder what a few hot drill holes at Anfield or Stamford Bridge will do?”
TRX Gold Corporation: Record Quarter Reinforces $2.40 Target as Buckreef’s Largest Expansion Moves From Plan to Execution
TRX Gold Corporation (NYSE:TRX) delivered its strongest quarter to date at the Buckreef Mine in Tanzania, with production, revenue, and profitability all reaching new highs as elevated throughput met a record realized gold price. Fiscal Q3 2026 gold pours rose 58% year-over-year to 7,426 ounces, while ounces sold climbed 75% to 6,983, realized at an average price of $4,703/oz. That combination drove revenue of $32.9 million, a 59% gross margin, adjusted net income of $10.1 million, and record adjusted EBITDA of $20.7 million. Year-to-date production of 21,476 ounces, and with most of Q4 in hand, has already cleared the low end of full-year guidance (25,000–30,000 oz) with the full Q4 result still to report.
Bill’s Commentary:
“The more things change… the more they stay the same!”
Five tech giants are hiding $1.65tn in AI debt, using the trick that toppled Enron
Look at what Alphabet, Microsoft, Amazon, Meta, and Oracle officially owe, and the numbers seem large but manageable. Look off the books, and a second, bigger pile of debt appears.
A Nikkei study put that hidden figure at $1.65 trillion, up roughly eightfold in four years. It is more than the $1.35 trillion the five report outright.
The Enron echo
The money is tied up in off-balance-sheet vehicles, the same kind of structure Enron used to hide debt before it collapsed 25 years ago. Back then it was fraud. Now, tightened rules and fuller disclosures make it legal.
The tools are still there, though. “Enron’s crime wasn’t having special purpose vehicles,” analyst Gil Luria told Bloomberg Law. “Enron’s crime was hiding them.”
The latest from USA Watchdog –
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