- The dollar gets bought by the bushel full
- People are beginning to realize that the story is false…
Good Day… And a Wacky Wednesday to you! I shouldn’t be writing today, but I thought that I could give you a brief recap of the day. Yes, I know that you could’ve gone a day without me, but you’ll have to deal with it! The Climax Blues Band greets me this morning with their song: Couldn’t Get It Right…
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On with the show!
Well, the dollar did its usual yesterday, gaining 1 index point here in the U.S. and the BBDXY ended the day at 1,221… Nobody but newsletter writers are calling out that the dollar is overbought, and the debt servicing coming up for is growing like a weed…
Gold/ Silver were allowed to gain on the day… Gold gained $24 and Silver gained only 7-cents. Gold ended the day at $4,164 and Silver $61.50.
The price of Oil rebounded to trade with a $90 handle… Apparently, some people with gray matter saw the report that oil was flowing out of the Gulf for what it was… a smokescreen…
And the 10-year Treasury’s yield gained a bit yesterday as the day closed with a 5.28% yield.
It’s not a good day for the currencies with the BIG DOG falling to the 1.11 handle and the rest of the currencies falling in behind the euro… Except for 1 currency… The Chinese renminbi… It sure seems that I keep repeating myself talking about 1 currency… oh well…
In the overnight markets last night… Well, the pattern of the overnight markets selling the dollar ended last night as the dollar got bought by the bushel full… The BBXY is up 4 index points this morning and sits at 1,225 to start the day…
The price of Oil remained trading with a $90 handle, and the 10-year Treasury’s yield jumped to 5.33% overnight…
Our fiscal warning signals are flashing red… Warning, Warning, the ship is in dire need of repair… The Hoover Institution send me an email yesterday that highlighted what I was just talking about and got me thinking… What are we going to, as a country, when the debt is has grown to infinity and beyond, and our debt servicing bill comes due?
Well, Bill Bonner of Bonner private research, had this to say about when that date becomes reality… here’s Bill “Suppose Scott Bessent and Kevin Warsh held a joint press conference, maybe on Halloween or April 1st. Imagine that they announced ‘An End to the US Debt’…we’re going to let inflation run at 10% per year until we get this monkey off our backs.’ – Bill Bonner
I don’t know if you recall or not but a few times in the past, I’ve said that the Gov’t wants inflation to make our debt go away… And Bill Bonner apparently agrees with me… And Doug Casey, and a few other letter writers that have told their readers the same…
The U.S. Data Cupboard has the new date for Consumer Credit ( read debt) and it’s today… The Trade Balance was a deficit of $105 Billion…
To recap… The dollar got bought by 1 index point yesterday, and overnight the dollar got bought by the bushel full. The BBDXY sits at 1225 to start the day…
There’s no FWIW article today, because I don’t have time to look for one and then to write one…
Market Prices 10/7/2026: American Style: A$.6952, kiwi .5545, C$ .7020, euro 1.1183, sterling 1.3211, Swiss $1.2011, European Style: rand 16.6957, krone 9.5761, SEK 10.0367, forint 327.90, zloty 3.9179, koruna 21.8462, RUB 85.82, yen 158.21, sing 1.2801, HKD 7.883, INR 96.77, China 6.7064, peso 18.08, BRL 5.0055, BBDXY 1,225, Dollar Index 102.29, Oil $90.11, 10-year 5.33%, Silver $60.39, Platinum $1,640.00, Palladium $1,158.00, Copper $6.65 and Gold… $4,124
That’s it for today… I’m excited about this classmates luncheon today… I love seeing these guys and gals, and it brings back some great memories to me… We all look a bit different now than we did back then, but then these folks are getting old just like me! I feel as though that I’m 10 years older than my actual age, because of Cancer and what I’ve had to deal with… But I’m here, and I’m going to see my some of my classmates today! The Amazing Rhythm Aces take us to the finish line today with their song: Third Rate Romance… I hope you have a Wacky Wednesday today, and Please Be Good To Yourself!
Chuck Butler