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Bill’s Commentary:
“Good points W!”
Bill,
$2.1 trillion deficit for one year makes the total government deficit of $40 trillion seem trite!
People don't understand how quickly it all snowballs. Over a 4 year period, inflation gradually crept up on the German people.
Then in the 5th year it exploded. Too quickly to adequately prepare. It's called exponential growth! If you didn't have gold or silver by then, you were screwed.
These exploding numbers have me looking over my shoulder incessantly.
I'm liking Jim Sinclair's TRX (Tanzanian Royalty mine)...Owning gold above and below ground, plus out of our jurisdiction.
Wolfgang
The Exponential Growth of Weimar CurrencyBecause the government aggressively printed money to fund war debts and general expenses, the total volume of banknotes exploded over a five-year period: End of 1918 (Post-WWI): Around 33 billion marks were in circulation.December 1922: The volume rose to approximately 1.28 trillion marks.Late 1923 (Peak Hyperinflation): The money supply surpassed 400 quintillion (400,000,000,000,000,000,000) marks.
Waste Of The Day: Deficit Could Surpass $2 Trillionhttps://www.zerohedge.com/economics/waste-day-deficit-could-surpass-2-trillionBill’s Commentary:
“Shocking?”
‘Shocking’ study shows link between transgender ideology and left-wing violence
WASHINGTON — Trump administration-funded researchers and independent collaborators found a startling correlation between proponents of a transgender ideology and left-wing violence, according to a new report obtained by The Post and set to be released Wednesday.
The new study from researchers at Rutgers University, the right-leaning Manhattan Institute and Network Contagion Research Institute found that those normalizing transgender beliefs were more likely to be supportive of political violence.
Respondents were quizzed about six potential targets of political violence for the study: “killing Charlie Kirk, killing Donald Trump, killing Brian Thompson, arson of ICE buildings, damaging wealthy people’s property, and violence against police.”
Bill’s Commentary:
“Do you understand that this is correct?”
When the RUSH HITS SILVER There Won’t Be Any Left to Buy! – Ian Everard
Ian Everard just said the quiet part out loud.
Price targets are the wrong question.
AVAILABILITY is the question.“The real mover is going to be silver when this finally breaks. Just compare it to anything. It is irrationally undervalued.”
He is not waiting for Michael Oliver or David Hunter to nail a number.
He thinks stackers who sit around for $200 or $1,000 silver are assuming the shop will still be open. -
Bill’s Commentary:
“The plumbing now exists to exit the dollar…”
The $25 Trillion Misunderstanding: What CIPS Actually Moves, and Why “2% of SWIFT” Misleads Washington
Mario Nawfal, based on our discussion today, inspired me to write this article. In the companion to this essay, I argued that Scott Bessent’s latest sanctions on Iran are toothless because Iran’s oil trade has walked out of the dollar and into the Chinese yuan, settled through a payment system Washington does not control. The standard rejoinder to that argument is a single comforting statistic: China’s cross-border payment network is only about 2 percent of SWIFT, a rounding error, nothing to lose sleep over. That statistic is real, and it is one of the most misleading numbers in the entire debate over American financial power. It measures the wrong thing, and the confidence it inspires in Washington is precisely why the United States keeps being surprised when its sanctions fail to bite.
This piece is about the machinery underneath — what China’s Cross-Border Interbank Payment System actually is, how much money it really moves, and what its trajectory means for the American ability to weaponize the dollar.
The latest from USA Watchdog –
Obituary in the London Times (no additional words needed)
An Obituary for Father Time….Absolutely Dead Brilliant!!
Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years.
No one knows for sure how old he was, since his birth records were long
ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as:– Knowing when to come in out of the rain;
– Why the early bird gets the worm;
– Life isn’t always fair;– And maybe it was my fault.
Common Sense lived by simple, sound financial policies (don’t spend
more than you can earn) and reliable strategies (adults, not children, are in charge).His health began to deteriorate rapidly when well-intentioned but overbearing
regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.Common Sense lost ground when parents attacked teachers for doing the
job that they themselves had failed to do in disciplining their unruly children.It declined even further when schools were required to get parental
consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.Common Sense lost the will to live as the churches became businesses;
and criminals received better treatment than their victims.Common Sense took a beating when you couldn’t defend yourself from a
burglar in your own home and the burglar could sue you for assault.Common Sense finally gave up the will to live, after a woman failed
to realize that a steaming cup of coffee was hot.
She spilled a little in her lap, and was promptly awarded a huge settlement.Common Sense was preceded in death,
-by his parents, Truth and Trust,
-by his wife, Discretion,
-by his daughter, Responsibility,
-and by his son, Reason.He is survived by his 5 stepchildren;
– I Know My Rights
– I Want It Now
– Someone Else Is To Blame
– I’m A Victim
– Pay me for Doing NothingNot many attended his funeral because so few realized he was gone.
If you still remember him, pass this on. If not, join the majority and do nothing
Bill’s Commentary:
“This is pretty much correct.”
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Bill’s Commentary:
“I’m not really sure why Trump re posted this. unless he wants an end to the US Treasury?”
Bill’s Commentary:
“”Threatening” is bad enough, actually following through will be like a 12 gauge to both of the dollar’s feet! Not smart at all in my opinion.”
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Bill’s Commentary:
“Did he really say this?”
Trump Suggests He Can Use the Military on Bond Markets: ‘If We Have To Use That, We Will’
President Donald Trump suggested Friday he could use the military to stage an “intervention” on bond markets in a confusing response to a reporter asking about Treasury Secretary Scott Bessent’s efforts to bring down soaring yields.
The Treasury Department surprised Wall Street on Wednesday by announcing plans to “at least double” its purchases of long-term government bonds starting next month. The move initially sent long-dated Treasuries sharply higher, pushing 30-year borrowing costs down from the 19-year high reached just days earlier before yields climbed again.
Taking questions on the tarmac before boarding Air Force One on Friday afternoon, Trump was asked by a reporter whether he had directed Bessent to intervene and whether the move was his idea.
Bill’s Commentary:
“Either step up to the plate now, or watch your future generations either convert to muslim or be genocided. Is this a difficult choice?”
Bill’s Commentary:
“Neat trick! Sell short term Treasuries to buy long term Treasuries… and hope the markets don’t notice?”
Bessent could tap near $1 trillion Treasury General Account to fund bond buybacks, sources said
The Treasury could use its near $1 trillion General Account to help fund its recently announced plans to increase purchases of government bonds, according to two senior Treasury officials.
Using the TGA would provide the Treasury with considerable firepower to influence long-term bond yields. The Treasury surprised markets last week with an announcement that it would be doubling the size of buybacks of off-the-run securities on the long end from $2 billion to at least $4 billion. Treasury Secretary Scott Bessent said on CNBC such operations could be even larger than the new higher minimum.
However, the Treasury made no mention of how it would fund the purchases. Most market participants assumed it would do so by selling short-term bills. The senior Treasury officials did not rule that out. Bessent in the CNBC interview called the operation a “Treasury Twist,” a reference to a government or Federal Reserve operation where long-term Treasurys are bought and paid for with short-term issuance. That also implied that short-term bonds would be sold.
Bill’s Commentary:
“”Threatening” is bad enough, actually following through will be like a 12 gauge to both of the dollar’s feet! Not smart at all in my opinion.”
https://xcancel.com/RapidResponse47/status/2091938677039481273
The latest from USA Watchdog –
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Bill’s Commentary:
“Setting up the grandest margin call of them all!”
America’s capital crunch: Soaring debt collides with AI spending spree
America is caught in a historic capital squeeze:
- On one side: Trillions Washington must borrow to pay for the past.
- On the other: Trillions the economy needs to build the future.
Why it matters: The next president will inherit a fiscal reckoning decades in the making. The price it exacts — on taxes, benefits, borrowing and investment — could shape America’s prosperity and power for generations.
Zoom in: President Trump said in 2016 that he could eliminate what was then roughly $19 trillion in national debt within eight years. On Tuesday, the debt crossed $40 trillion, after growing by $3 trillion in the past year alone.
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Bill’s Commentary:
“The world is about to get a lesson in math!”
“Doom Loop” Engaged: US Debt Hits $40 Trillion As Treasury Enters The Endgame
It took the US 200 years to reach its first $1 trillion in debt. It took 95 days to add its last.
After several weeks of build up, today the Treasury announced that total public debt surpassed $40 trillion for the first time, after jumping by over $60 billion in one day, and has now surged by $1 trillion in just over three months, and by a third of the total in less than five years, as US lawmakers continue to ignore calls to contend with historically wide fiscal deficits.
The largely expected news came just hours after Treasury Secretary Scott Bessent unexpectedly announced the Treasury’s latest attempt to rein-in long-term borrowing costs from multi-year highs, the most important component of the growth in debt.
Bill’s Commentary:
“Why does Treasury need to support what is supposed to be the world’s safe haven? I have news for you, the Frankenstein debt market they have hobbled together is now far too large for any central bank or sovereign treasury to support…”
Treasury yields rebound, wiping out the decline following Bessent’s intervention
Bond yields climbed on Thursday, coming back from the pullback they saw the previous day after the Treasury Department announced an intervention aimed at easing pressure on longer-dated government debt.
Yields on 10-year U.S. Treasurys — the main benchmark for mortgages, auto loans and credit card debt — moved more than 5 basis points higher to 4.704%. The yield level was above the level it held before the 8:30 a.m. announcement Wednesday that Treasury would be stepping up its bond buyback program.
The yield on the 30-year U.S. Treasury bond — the primary focus of the accelerated buyback — was up more than 5 basis points at 5.248%.
Bill’s Commentary:
“Do you see?”
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Bill’s Commentary:
“True story!”
Venezuela’s Stolen Gold but Guess What? One Venezuela a Day Won’t Even Dent America’s Debt Principal
A $4.3 billion Venezuelan gold haul barely covers one day’s interest; even daily plunder would feed the debt machine, never reduce its principal.
At the current average interest rate of about 3.6%, a debt of $39.9 trillion adds roughly $4 billion in interest every single day.
Washington has discovered the ultimate perpetual-motion machine: borrow money, print money, use the printed money to buy the debt you just issued, then congratulate yourself for “managing liquidity.”
Bill’s Commentary:
“Never forget…”
The latest from USA Watchdog –
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Bill’s Commentary:
“The future has arrived…”
Agricultural Commodity Prices Break Out As JPMorgan’s Food Crisis Warning Gets Louder
JPMorgan analyst Nora Szentivanyi’s warning last week that the next global food crisis could begin as early as next year has been a major wake-up call for some, adding to the growing voices on institutional desks warning that food inflation is poised to re-accelerate.
Remaining extra watchful about agricultural prices, Bloomberg reported earlier that US corn futures moved higher after preliminary results from the Pro Farmer Crop Tour indicated weaker-than-expected yields in parts of critical growing belts across the Midwest.
Corn yield estimates were about 3% below last year in Ohio and 14% lower in South Dakota. Soybean pod counts also declined, while severe storms and flooding in Indiana and Ohio added to concerns about further crop damage.”
Bill interviews with Sean at SGT Report (Also posted under Interviews)
Bill’s Commentary:
“$3 trillion in off balance sheet liabilities… where does this money come from?”
WSJ Catches Up, Discovers AI’s Off-Balance Sheet Liabilities Are $3 Trillion And Growing $1.2 Trillion Per Quarter
More than two months ago, long before most Wall Street analysts had any clue that the bulk of the AI buildout commitments were diligently hidden in various off-balance sheet SPVs and other (perfectly legal) accounting gimmicks, we wrote a lengthy article detailing just that, and explaining why far beyond the $1 trillion (and rapidly rising) in annual plain vanilla capex — all of which now has to be funded through debt issuance since free cash flow across the hyperscaler universe is negative for the foreseeable future (if not forever) — which most pundits obsess over daily…
… the real risk was in the “The $1.8 Trillion Off-Balance Sheet Time Bomb At The Heart Of The AI Supercycle.”
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Bill’s Commentary:
“Who needs math in DEI world?”
I teach calculus at Berkeley. Some of my students can’t do middle school math
In March, two California families opened college admissions decisions that should make anyone who cares about higher education stop and think.
One student — I’ll call him Elias — was admitted to a top University of California engineering program. His family was thrilled though surprised. Math had been his weakest subject in high school, but they assumed the university had seen something they hadn’t.
Another student — Nadia — watched rejection after rejection arrive from UC campuses. One turned her down even though she had earned A’s there in Calculus II and other college-level STEM courses through concurrent enrollment.
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Bill’s Commentary:
“Maybe its time to buy a home with some gold bars?”
Macro Liquidity by Sunil Reddy
@Macrobysunil
In 1970, a representative home cost roughly $19,000 — or 537 oz of Gold.
Today, it is around $608,000 — but only 140 oz of Gold.
Homes are 31x more expensive in dollars, yet roughly 74% cheaper in Gold.
That collapse in the Gold price of a home tells you something important: housing didn’t become impossibly scarce — fiat purchasing power collapsed.
That is why affordability collapsed for ordinary income earners, while Gold preserved purchasing power.
Bill’s Commentary:
Rating Action CommentaryFitch Affirms the United States of America at ‘AA+’; Outlook Stable
Fitch Ratings – New York – 13 Aug 2026: Fitch Ratings has affirmed the United States of America’s Long-Term Foreign- and Local Currency Issuer Default Ratings (IDRs) at ‘AA+’ with a Stable Outlook.
A full list of rating actions is at the end of this rating action commentary.
The United States’ ‘AA+’ rating is supported by its large economy, high per-capita income, dynamic business environment and exceptional financing flexibility due to the U.S. dollar’s role as the preeminent global reserve currency. However, high fiscal deficits, a substantial interest burden, and high and rising government debt levels constrain the rating. Debt is more than double the ‘AA’ rating median. The government has not taken meaningful actions to address the large general government (GG) fiscal deficits (averaging 7% of GDP since 2022), and spending pressures will mount over the next decade due to an aging population.
Bill’s Commentary:
“More “winning”?”
The New Great Game, revisited
It took only a few Yemeni missiles on Saudi refineries to wake up “leadership” vectors of the Ummah; not over 100,000 Palestinians killed in Gaza by the death cult.
The Mecca Sunni NATO pact between Saudi Arabia, Turkiye and Pakistan remains a puzzle. Or dodgy sub-standard theatre – complete with photo ops and sparse intel sharing. The full text has not been released. Everything is quite vague, only stressing “collective deterrence”.
Against whom, it’s in the eyes of the beholder. All options – Eretz Israel, US-Israel, India (in case of attacking Pakistan) – might apply. The operative concept is “might”. Add to it Turkiye’s myriad NATO constraints: a viper’s nest in itself.
Bill’s Commentary:
“Totally “normal” in today’s dystopic world!”
Jew Made President of Catholic Biblical Association, Will Edit Antisemitic Bible Verses
The Catholic Biblical Association of America has spent nearly ninety years shaping how American Catholics read the Bible. It publishes the Catholic Biblical Quarterly, supplies scholarship to seminaries, helps train the people who train priests, and is well within the institutional machinery Rome uses to teach Scripture to Catholics. Last month, they acquired a new president. Amy-Jill Levine became the first Jewish scholar elected to lead the Catholic Biblical Association.
Levine joined the CBA in 1988, spent twelve years as book review editor of the Catholic Biblical Quarterly, served as vice president last year, became the first Jew to teach New Testament at Rome’s Pontifical Biblical Institute, and met with the previous pope, Pope Francis, multiple times. The National Catholic Reporter celebrated her election as a milestone for the first Jew to serve as editor of the Catholic Biblical Quarterly. She now sits at the head of one of the Roman Catholic Church’s most important academic institutions.
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