Bill’s Commentary:
“Correct Wolfgang, this is the rally you never sell…until there is a credible currency somewhere on the planet.”
Bill,
Liked the Steve St Angelo article.
Just want to add this: if silver spikes because the existence of the Dollar is at risk, nobody will sell. Who will accept worthless Dollars for their silver! Best to hold until a new currency is established.
Wolfgang
Bill’s Commentary:
”Very informative and correct by Steve St. Angelo. I would only add; be careful what you wish for, $300-500 silver will go hand in hand with a derivatives meltdown…in which case you will need your silver to be transactional in a world we cannot even imagine…yet!”
What Happens With $300-$500 Silver Prices
I am hearing a lot of talk about the silver price surging to $300-$500 by the end of the summer. It seems that many silver investors are waiting for these prices to CASH IN BIG TIME. But could they?
https://www.youtube.com/channel/UCED7G7CZfqdSV9zttlr1M_g
The latest from USA Watchdog –
Bill is interviewed by Kinvestor –
Bill’s Commentary:
“The buyer of last resort for US Treasuries is, and always has been the (non) Federal Reserve…”
Foreign Treasury Selling Is Getting Serious
We already knew that the bond market was starting to call bullshit on America’s fiscal and monetary policy. Now we know that foreign governments are dumping U.S. Treasuries, and China is leading the way…even while President Trump pals around with President Xi Jinping.
According to CNBC, foreign holdings of U.S. government debt fell sharply in March as central banks sold Treasuries to defend weakening currencies during the geopolitical and energy shock tied to the escalating Middle East conflict.
China reduced its Treasury holdings to roughly $652 billion, the lowest level since 2008. Japan, the single largest foreign holder of U.S. debt, also cut exposure aggressively. Overall foreign holdings dropped from approximately $9.49 trillion to $9.25 trillion in a single month.
Bill’s Commentary:
“Did MAGA just die?”
Bill is interviewed by Kinvestor – (Also posted under Interviews)
Bill’s Commentary:
“And they told you you were an idiot for buying $400 gold in 1986?”
Bill’s Commentary:
“The Fed has cut rates 1.25% since 2024, yet bond rates have risen 1.25%+ since then… hmmm?”
The latest from USA Watchdog –
Bill’s Commentary:
“I believe the telling event will be the next time the Fed cuts rated… and bonds revolt in a selloff. Loss of yield curve control will be obvious and terminal!”
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.”
The latest from USA Watchdog –
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.
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 –
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)
BillHolter.com 