BillHolter.com

Bill’s Commentary:

“Wolfgang checks in re Ft. Knox:”

Bill,

Thank you for the article regarding Fort Knox.

To give people an understanding of how large our current budget deficit is, consider this:

The supposed 8,000 tons of gold we claim to have, comes to under $600 billion at today’s price.

Our current budget deficit for 2024 is $1.9 trillion!

That doesn’t even come close to the shortfall in this years budget.

We would need 24,000 tons for just this year, and that’s to cover our deficit, NOT fund the entire budget!

Wolfgang

W,  if this were not so sad, it would be hilarious! Can you imagine what the price of gold would need to be to settle global trade? Gold will be a very significant percentage backing to whatever the new currency is that settles trade after the dollar fails. Assume a 20-40% backing, do that math …!  Best,  Bill

Bill’s Commentary:

”Is silver bouncing exactly where it is supposed to? $29 is support from the previous highs back in April and also support from the 50 day moving average. Given a week or so, this looks like we may see another “hook” in the MACD turning upwards and crossing over. I think we could see at $34-37 on this next leg but we need to see more work done here digging off support. In any case, a very big move either up, or down is in the cards as we have spent nearly 3 weeks chopping in the $29-31 zone, not overbought nor oversold on the daily’s and coiled for a move one way or the other. Add the fundamentals where silver is in a structural deficit and a snorting bull market/major short squeeze looks likely. Stay tuned!”