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Bill’s Commentary:
“Safe haven? For now maybe, shortly, maybe not so much?”
Trump tariffs drove a Treasury sell-off — who sold the safe-haven asset?
The U.S. Treasury market over the past week saw investors fleeing the safe haven, in an unusual move that added to the market turmoil caused by U.S. President Donald Trump’s “reciprocal” tariffs — forcing him to suspend the duties.
In just a few sessions, yield on the 10-year Treasury soared to 4.592% on Friday, the highest since February. Similarly, the 30-year Treasury bond yield notched its highest since November 2023 last Wednesday. While yields have ticked lower since then, they still remain elevated.
Yields rose around 50 basis points in the five days to April 11, according to data from LSEG.
Bill’s Commentary:
“The world would be a much better place if the 10 Commandments were actually followed…”
The latest from Erik –
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Bill’s Commentary:
“We talked at length 5-10 years ago on JSMineset about this eventuality. So many “products” (especially military) require rare earths and cannot be produced with other alternatives. I would say the rubber finally met the road with this one!”
China Halts Critical Exports as Trade War Intensifies
China has suspended exports of a wide range of critical minerals and magnets, threatening to choke off supplies of components central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.
Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while the Chinese government drafts a new regulatory system. Once in place, the new system could permanently prevent supplies from reaching certain companies, including American military contractors.
Bill’s Commentary:
“People do seem dumber these days don’t they?”
Is Covid Rewriting the Rules of Aging? Brain Decline Alarms Doctors
Five years after the pandemic’s start, millions of Americans are still struggling with long-lasting symptoms of Covid-19. Cognitive difficulties are among the most troubling and common symptoms in people both old and young.
These ailments can be severe enough to leave former professionals like Ken Todd unable to work and even diagnosed with a form of mild cognitive impairment.
I first spoke with Todd, a 56-year-old former Showtime executive in New York City, in 2022 for a column on long-Covid patients grappling with crippling fatigue.
Bill’s Commentary:
“Texas”
Bill’s Commentary:
“‘Still the world’s reserve currency.’ Yeah, but for how long?”
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Bill’s Commentary:
“Make no mistake, this IS absolutely an assault on the dollar. Wait until China divulges their actual gold holdings…he who holds the gold makes the rules!”
The Chinese Gold Mania is Here
For the past several months, I’ve been theorizing and writing about the compelling idea that another major gold surge would be driven by Chinese futures traders coming out of dormancy to propel gold to $3,000 an ounce and beyond. And remarkably, it now appears that this is exactly what’s unfolding. In this piece, I’ll walk you through the background of this fascinating and unfolding theory—along with the evidence that it’s playing out in real time.
To provide some context, the powerful $1,200 gold bull market of the past year began in the spring of 2024, driven largely by aggressive Chinese futures traders on the Shanghai Futures Exchange (SHFE), while Western investors largely stayed on the sidelines. In just six weeks between March and April, these traders propelled gold prices upward by $400—or 23%—an extraordinary surge. While their activity quieted for a while, I’ve been anticipating their return, expecting them to drive gold to staggering levels—well beyond $3,000 an ounce.
Bill’s Commentary:
“What a shock!”
Wealthy Buyers Are Backing Out of Multimillion-Dollar Home Deals
On March 1, New York real-estate agent Peter Ocean thought he had reason to celebrate: His clients accepted an offer of $10.25 million for their four-bedroom co-op in Lenox Hill, which had been on and off the market for more than a year, last asking $10.5 million.
Days before the planned contract signing, the buyers even came back to purchase some of the furniture. “They weren’t even going to paint,” Ocean said.
Then came President Trump’s trade war, which sent shock waves through the stock market. Ocean was riding the subway to his office on March 13 when the couple’s agent called to say her client’s stocks were down 25% and the deal was off. “It was like a gut punch,” said Ocean, who then made a “painful” call to his client, who worked in finance before retiring to Florida.
The latest from USA Watchdog –
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Bill’s Commentary:
“As I have always said, it is all about credit. When the credit card of the US Treasury is declined, your life will be changed forever…!”
Treasury yields soar as bond rout intensifies
Treasury yields soared to their highest level since February on Friday, as traders complained liquidity was worsening amid a deepening rout in the $29tn US government bond market.
The 10-year Treasury yield climbed 0.19 percentage points to 4.58 per cent amid a deepening slump for an asset traditionally considered the global financial system’s ultimate haven.
The yield has risen from less than 3.9 per cent earlier in the week as Donald Trump’s erratic tariff policies shake investors’ faith in US policymaking and the economy, sparking an exodus from American assets.
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Bill’s Commentary:
“W, are you surprised? How many times can someone be lied to before they team up with your competitor? Best, Bill”
Bill,
Saw this just now on Bloomberg TV.
“Spain pushing for EU pivot to China”.
The continuing drift away from America’s embrace continues.
Wolfgang
Bill’s Commentary:
“$1.3 trillion plus $1.3 trillion equals a $2.6 trillion deficit… versus a $29 trillion economy? The deficit is now about 9% of GDP. When you factor in the breakdown of the rule of law, can you say banana republic?”
U.S. Budget Deficit Widens to $1.3 Trillion as Interest on Public Debt Hits Record
The gap between federal revenue and government spending widened to more than $1.3 trillion in the first half of the fiscal year, driven by record amount of spending on the public debt.
Data disclosed Thursday by the Treasury Department showed a deficit of $1.307 trillion for October through March, the initial six months of fiscal 2025. This was the second highest fiscal year-to-date deficit the U.S. has ever seen. Only the deficit of $1.706 trillion in the first half of fiscal 2021 was larger.
Bill’s Commentary:
“Masters weekend!”
An Inside Glimpse: Jack Nicklaus Before his Honorary Starter Tee Shot
At 7:01 a.m., the man with the most Masters Tournament titles of all emerges from the William H. Danforth suite that sits across from the Founders Room at Augusta National Golf Club. Jack Nicklaus walks slowly with a smile on his face. He shakes hands with those gathered to greet him. He climbs into the back of a golf cart and says goodbye to his kids, who are there to see him off.
Nicklaus is asked if he is ready – to go take a few practice swings, to stand beside fellow Honorary Starters Gary Player and Tom Watson, to officially open the Masters.
Bill’s Commentary:
“The consumer is tapped out, and now this… Do you really believe that current prices will hold at levels even close to where they are now?”
Mortgage rates surge over 7% as tariffs hit bond market
The average rate on the popular 30-year fixed mortgage surged 13 basis points Friday to 7.1%, according to Mortgage News Daily. That’s the highest rate since mid-February.
Mortgage rates have been on a roller coaster ride all week, as bond yields spiked higher mid-week when President Donald Trump’s new tariffs on dozens of countries went into effect. Yields dropped when Trump lowered the tariff rate on most countries hours later. Tariffs on Chinese imports, however, currently stand at 145%.
But bonds began selling off again Friday, despite a cooler-than-expected inflation report. Mortgage rates loosely follow the yield on the 10-year Treasury.
Bill’s Commentary:
“Surprise!”
Tulsi Gabbard Drops TWO Huge Bombshells
National Intelligence Director Tulsi Gabbard made a startling revelation during an open cabinet meeting Wednesday, announcing that she has evidence that electronic voting machines have been tampered with to manipulate the results of past US elections.
“I’ve got a long list of things that we’re investigating. We have the best going after this, election integrity being one of them,” Gabbard stated.
“We have evidence of how these electronic voting systems have been vulnerable to hackers for a very long time,” she continued.
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Bill is interviewed by Liberty and Finance (Also posted under Interviews)
Bill Holter (https://billholter.com/) discusses the current financial volatility, emphasizing the growing risks of a systemic collapse. He warns that the global financial system is vulnerable, particularly with the massive volume of derivatives—over $2 quadrillion—which far exceeds the size of the financial system itself. Holter predicts that if a major derivatives player defaults (such as a systemically important bank or brokerage house), it could trigger a cascade of failures, ultimately leading to a “derivative meltdown.” This could wipe out assets, and Holter suggests that the best way to safeguard wealth is by owning physical gold or silver, as they cannot be bankrupt. He highlights that these metals, especially in physical form, will retain value when the broader financial system fails, offering a secure store of wealth in uncertain times.
INTERVIEW TIMELINE:
0:00 Intro
1:30 Gold repatriation
6:30 The Great Taking
11:20 Stock market volatility
16:20 The kinds of gold and silver to own
21:40 The collapse is happening now
28:00 Bill Holter online
29:44 Weekly specials
Bill’s Commentary:
“W, so much for the rule of law, huh…? Bill”
Bill,
I'm beginning to understand the reluctance of many countries to trust America. To find an alternate currency.
Countries like Russia get their assets confiscated by us. Germany has difficulty getting their gold from us. They are very concerned.
Even me! I purchased a few hundred shares of Gazprom years ago for the 6-7% dividend. Suddenly my shares were frozen. I no longer had access to them because anything Russia was frozen or confiscated. Even my shares.
Now they're starting this shit with Chinese stocks. I have a few from years ago. I guess I'll lose them also.
Hell, if you can no longer raise money by getting the world to buy your bonds, just steal it from others.
Wolf BREAKING NEWS THE UNITED STATES TREASURY SECRETARY DECLINED TO RULE OUT THE POSSIBILITY OF DELISTING CHINESE STOCKS FROM U.S. EXCHANGES This represents $1.1 trillion. https://x.com/GoldTelegraph_/status/1910033087746203680?t=86YRxqVwxjiguqc95ARZKA&s=09
Bill’s Commentary:
“Don’t worry, all is well! But wait, who eats these losses?”
One Of The Largest Malls In The U.S. Just Defaulted On Its $300 Million Mortgage
Destiny USA, New York’s largest mall and one of the biggest in the U.S., has defaulted on a $300 million mortgage, according to Syracuse.com.
Its owner, Carousel Center Co., failed to secure an extension when the loan matured on June 6 of last year, according to recent financial filings.
The Syracuse.com report says that after failing to extend its loan maturity, Destiny USA’s $300 million mortgage is now in default, with the full balance of $325.2 million—including $25.2 million in deferred interest—immediately due, according to an independent audit.
The lender terminated its forbearance agreement, raising the threat of foreclosure, as seen with two other Pyramid-owned malls last year.
Bill’s Commentary:
“So he lied to you? What’s the big deal, they all do it?”
‘George Stephanopoulos slammed for hiding Biden’s mental decline as he stunningly admits it was ‘heartbreaking up close’
Conservatives accused ABC News host George Stephanopoulos of ‘gaslighting’ the public after it was revealed he privately described President Joe Biden‘s condition as ‘heartbreaking up close.’
Stephanopoulos made the comment after interviewing the Democrat in the wake of his disastrous debate performance in the 2024 campaign.
The remark was revealed by author Chris Whipple in his new book, Uncharted: How Trump Beat Biden, Harris, and the Odds in the Wildest Campaign in History.
Bill’s Commentary:
“Erik with some unpleasant truths for Trump supporters…”
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Bill’s Commentary:
“No shit Sherlock! Truth be known, without deficit spending, GDP would have had MANY years stuck in reverse. They must “inflate or die” which means the printing press stuck in overdrive…”
Jamie Dimon says a recession is ‘likely outcome’ from Trump’s tariff turmoil
JPMorgan Chase CEO Jamie Dimon said Wednesday he sees the U.S. economy likely headed to recession as President Donald Trump’s tariffs roil financial markets.
With the trade war between the U.S. and China intensifying, stocks and bonds sold off aggressively again in morning trade. Stock market futures slumped and bond yields spiked amid concerns over financial and economic stability brought on by the tit-for-tat exchange between the two nations.
“I think probably [a recession is] a likely outcome,” Dimon said on Fox Business’ “Mornings With Maria” show.
The latest from USA Watchdog –
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Bill’s Commentary:
“Some history we were never told of? What else has been hidden from us?”
Mysterious underwater ‘pyramid’ believed to be 12,000 years old reshapes historyMysterious underwater ‘pyramid’ believed to be 12,000 years old reshapes history
A sunken ‘pyramid’ near Taiwan may rewrite everything we thought we knew about the ancient world.
Sitting just 82 feet below sea level near the Ryukyu Islands of Japan, a mysterious object called the Yonaguni monument continues to stump and astonish researchers since its discovery in 1986.
This giant structure with sharp-angled steps stands roughly 90 feet tall and appears to be made entirely of stone, leading many to believe it was man-made.
Bill’s Commentary:
“Not a good look to say the least…”
Tesla Sitting On Thousands Of Unsold Cybertrucks As It Stops Accepting Its Own Cars As Trade-Ins
Despite producing the Tesla Model Y, the most popular new car on the planet last year, Tesla has had a rough time so far in 2025. The American EV maker faces “Tesla Takedown” protests and other boycotts from citizens across the globe thanks to the inflammatory words and actions of the brand’s CEO, Elon Musk.
Though the company previously declared that there were over a million Cybertruck pre-orders, Tesla can’t find buyers for the current backlog of nearly 2,400 Cybertrucks, or about $200 million worth of inventory. Not only that, but Tesla is allegedly refusing to accept its own Cybertrucks as trade-ins since it can’t sell them, and is reportedly even forcing some owners to Lemon Law their cars instead. That’s an ominous sign for the model that was supposed to revolutionize the pickup market and revitalize the automaker’s aging line up.
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Bill interviewed and added an addendum on markets (Also posted under Interviews)
Bill’s Commentary:
“I certainly do Wolfgang!”
Bill,
Remember when they all laughed? W.
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Bill’s Commentary:
“Dr. Dave Janda with a good take on the tariff fiasco.”
FRIDAY, APR 04, 2025
TARIFFS: THE FALL OUT OF WHAT COULD & SHOULD HAVE BEEN PREVENTED: WE NOW HAVE ENTERED OPERATION FINANCIAL WARP SPEED 2025
Dave Janda M.D.
I know you are really mad and feel like you were stabbed in the back … I feel the same….. FOR THE RECORD……. for the past 2 months…. A number of us have been telling those around President Trump if they were going to institute tariffs, prior to implementing the tariffs they needed to have several Oval Office Addresses by President Trump delivered to the nation.
Of note … and this is important…. What was initially proposed as “reciprocal tariffs”…. charging the same import tariff to a country that they charge on our exports coming in to their country was changed at the last minute prior to The Rose Garden Ceremony on April 2, 2025. Thank you Howard Lutnick.
The purpose of the proposed several Oval Office Addresses were to explain why the tariffs were needed, what the effect would be on Main Street, what the short, medium and long term ramifications of the tariffs would be for every American and what the opposition totalitarian globalists would do to take down the financial markets when the tariffs were put in place. Of note, the globalist syndicate has benefitted from the existing trade and tariff construct for many decades….. hence their opposition to any and all changes.
The Presidential Oval Office Addresses also SHOULD have identified ahead of time…. If markets tanked with the tariff anouncement …. Who was responsible and who benefitted from the take down of financial markets…. ie: The globalist banksters ….who had benefitted for decades with the gutting of America’s manufacturing base and who were financially positioned to benefit ( short the markets) if the stock market and commodity markets tanked after the “official tariff announcement”. If the scum were preemptively identified and exposed the chance they could take the markets down would have been diminished. Why? If they were identified before the take down of the markets they would be petrified that the public would be at their doors for retribution when the markets tanked. But… the Presidential Addresses never occurred.
Of note, prior to April 2, 2025….the globalist Banksters were heavily short the markets ( betting against the markets going up) making the Banksters vulnerable to bankruptcy if those markets continued to rise.
The Trump Administration did not listen to those of us pushing for educating the public and for transparency …. they did not do the presentations …. President Trump by not doing the presentations gave the globalist scum an opening and now we have an imploding stock market with commodities getting slammed all of which was preventable.
A number of us who predicted this current chaotic financial situation are livid of being ignored …..again…. this is…… “déjà vu all over again” ….the exact same situation of what happened when several of us were telling The Trump 1.0 Administration about the hazards of masks, lock downs, Fauci protocols and the Covid jab prior to inflicting their harmful effects on the public. They did not listen then….. and here we are again.
So what is my conclusion about this entire Trump Tariff Goat Rodeo…. Why did this financial take down occur with tariffs being implemented which could have been either completely prevented or at a minimum drastically diminished.
- A friend of mine identified the “bait & switch “ tariff con stated…. “Well we knew tariffs were coming…but nobody expected the ridiculous tariff scheme they rolled out on April 2. The biggest lie was that he sold his tariffs as being reciprocal. People heard that and accepted that. The markets took hits based on that scheme. We all assumed that nominal tariff rates plus vat taxes and clear trade barriers would be factored into a tariff rate for each country we trade with. Instead, we got this previously unheard of formula based on the trade deficit with each country that generated tariff rates far above the highest rates anyone expected. Totally spooked the markets.”
- So why the bait and switch on April 2???? I am sorry to say…… A possible conclusion is President Trump did not communicate about what was coming because he was bailing out his Bankster buddies at the behest of Howard Lutnick his Commerce Secretary and former Co-head of his Transition Team. The Banksters he bailed out were short the stock market and big time short commodities including gold and silver…. His commerce secretary Howard Lutnick is a flaming globalist Bankster shill who pushed the bait and switch tariffs….. if you watched the Rose Garden Ceremony he was the “elf” handing President Trump the poster with the tariffs rates on it which promptly started the implosion of financial markets… coincidence… I don’t think so. In the end, unfortunately, just as President Trump caved on COVID to Fauci, Birks and Pence …. He just did the same with the globalist “advisor” Lutnick on the “bait & switch tariffs” which has lead to the implosion of financial markets.
- The concern becomes is President Trump a “selective”globalist or at a minimum why does he keep surrounding himself with globalists whose policies benefits the syndicate and targets Main Street? He has a track record of doing or not doing things to help prop up particular subsets of the old world globalists…. Last time he propped up Big Pharma through his actions and inactions with COVID … this time it is His old world Bankster buddies who were in a deep hole with their short positions in the market and criminally short positions in commodities and gold and silver. President Trump’s lack of “setting the table” with the presentations and the “bait and switch tariffs” now allowed the globalist scum to not only survive and extricate themselves from imminent bankruptcy but enabled the bankster scum to make huge financial gains while Main Street is left in the smoldering ruins through the Mar A Largo rear view mirror.
- It has been said…. “fool me once … shame on you….. fool me twice….. shame on me.” This tariff “bait & switch” goat rodeo is not the STRATEGIC DISRUPTION which I endorsed or supported…. The last 48 hours due to The President NOT educating the public on the tariff situation delivered mass preventable financial chaos to the public and enhanced profits for the Banksters along with a bail out to the entire Criminal Bankster Syndicate.
Reciprocal tariffs could well have benefited Our ENTIRE Country for decades to come but what we were delivered was a “bait & switch” tariff con which has delivered chaos to Main Street and champagne and caviar to Wall Street and the Bankster Syndicate…… I ADMIT IT…. HE FOOLED ME TWICE….SHAME ON ME. I hope they have a great party at Mar A Largo tonight. Not!
For further analysis from Dr. Dave Janda: davejanda.com
Bill’s Commentary:
“Erik on Trump.”
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