- The dollar’s fall is very conrolled
- The Globe is up in arms about something
Good Day… And a Marvelous Monday to you! Well, how did your Halloween Saturday night go? We had a chance of Rain, but it didn’t ruin the night’s fun… As I’ve said before I love giving out treats to the little Trick or Treaters, just not the older kids, who are out for nefarious reasons… We sat in the driveway, giving out candy, with a fireplace going and the Mizzou/Arkansas game on… Great fun…
Well, my 5 Bullets weekend writer scared me more than the Trick or Treaters… Here’s a snippet of what scared me… “dozens of governments have told citizens to prepare emergency supplies… YIKES what do they know that we don’t? I guess we’ll all find out together, eh?
The dollar saw a bit more selling on Friday… As Employment Costs rose in Sept… The BBDXY ended the week at 1,223… Still way overbought in my humble opinion. There wasn’t any real economic data on Friday to trade from, so the day went along fine until the day closed with no fanfare.
The short sellers were out in force, and they laid waste on Gold, and then went on to Silver, Platinum, Palladium, and Copper… They didn’t take any prisoners in Gold and Gold lost $146 on the day, to close the week at $ 3,876… Silver was down $3.04 and closed at $49.25. These are levels that were last seen on the way up… for Gold it was 2025, and for it was Oct 2025…
It was a very ugly day for the precious metals, and the industrial metal, Copper… I do understand that some of damage here was from the losses in margin accounts in stocks… The margin accounts receive minimum calls on their margin accounts, and they have to either sell some stocks, to create more equity, or deposit more cash… On heaven knows that they can’t sell their precious stocks… I almost choked writing that…
Or, they can sell what is worth more than anything in their accounts, and they sell Gold/Silver because they are liquid, and then deposit the funds in the margin account to pay for the Minimum Margin calls on the account…
But… and that’s a but with a capital B, those trades I just described only account for a small amount of the losses; the short traders took care of the rest…
The price of Oil stayed high on Friday, and closed the week at $104… and the 10-year saw more buying, and it closed the week at 4.93%
In the overnight market last night… The dollar selling as nascent as it may be did continue last night, with the BBDXY losing 2 index points to 1,221… still way overbought… But getting back to where it was a month ago.. You know, looking like it might be ready for a leap from the cliff…
Gold is not being sold so far this morning, and is up $25 to start the day/ week… Silver too, is up this morning and starts the day/ week with a 90-cent gain… I don’t see Glinda the good witch telling us that it’s all safe to come out again yet, so we’ll hold back the “all’s clear sign”
The price of Oil slid $5 overnight, and nothing on the Oil price.com site tells me why… But just wait, Oil will back over $100 once the fighting begins again, which from what I read will occur right after the mid-term elections…
And the buying of the 10-year Treasury continues with the yield falling to 4.91%, a level it hadn’t seen since September when it was on its way higher…
I can’t put my arms around how much longer this short selling will last… I imagine though that when the losses hit the POTUS’s account he will come up with an executive order to halt short selling… Ok, I was just imagining that, so don’t take it as a realization…
This in from Bill Bonner’s Daily missive: “Real average hourly earnings have now declined on a YoY basis for six consecutive months, falling 0.7% over the past year. The stock market may be near record highs, but that doesn’t mean everyone is participating equally in the gains. Nearly 1 in 5 American families fell behind on debt payments in 2025, the highest share since 2010.”
YIKES! Chuck Again… That’s scarier than the Halloween costumes I saw Saturday night! I told you the other day that the internet hadn’t made us richer, and that we made less than we did 10 years ago… Well, this data really plays that out!
I really think that if you don’t read it yet, that you should because Bill does a great job of explaining of why we as consumers are tapped out… you can find him here: Bonner Private Research | Substack
Boy, I’m full-o-good-news this morning, aren’t I? NOT! But it is what it is, and there’s nothing we can do about it, other than protect ourselves from the Big Loss, of which Bill calls it…
The U.S, Data Calendar doesn’t have any data for us, but tomorrow we’ll see the latest STUPID CPI for Rocktober, which I expect to see go upward some…
To recap… There wasn’t much going on Friday, except the raid on the metals, and I mean all of the metals! There’s something going on around the globe, and right now we don’t know what’s causing the rest of the Globe to stock up on emergency stuff…
For What It’s Worth… Well, last week there was a HUGE heist of Cryptocurrency, and this article tells us how.. And it can be found here; Gone in 20 minutes: How the biggest heist in crypto history unfolded | Reuters
Or here’s your snippet: “About $6.3 billion worth of cryptocurrencies were drained from wallets that Binance uses to process transactions, according to the exchange and expert analysis of blockchain records.
Binance said in a statement on X, opens new tab that it initially thought the attack involved a compromised laptop. “However, our subsequent investigation has uncovered additional points of breach,” it added, without elaborating.
The exchange operates a secure asset fund for users, a $1 billion bitcoin reserve designed to protect customers in the event of a security breach, according to its website.
Co-CEO Richard Teng said losses would be covered by the fund and company resources.
According to US blockchain analytics firm TRM Labs, opens new tab, the attackers compromised Binance’s “signing infrastructure”, which authorizes transactions, allowing them to issue instructions that emptied the affected wallets.
The bulk of the heist unfolded in about 20 minutes, blockchain records show, beginning shortly after 2000 GMT on Thursday.
Once the funds were moved, the attackers raced to shift them beyond the reach of Binance counterparties and stablecoin issuers, which have frozen roughly half of the stolen assets.
An unusual feature of some cryptocurrencies, including major stablecoins such as Tether’s USDT and Circle’s USDC, is that their issuers can freeze them remotely.
“In layman’s terms, the attacker may not have stolen the vault key, they may have hijacked the system that tells the vault to release money,” said Joshua Chu, a Hong Kong lawyer who works on crypto cases.
WHO IS BEHIND IT?
Several US blockchain analysis firms said the attack bears similarities to previous operations attributed to North Korean hackers.
Teng said Binance’s investigation had not yet identified the attackers, while North Korea routinely denies involvement in cyberattacks and cryptocurrency thefts. North Korea’s mission in Geneva and embassy in China did not immediately respond to requests for comment.”
Chuck Again… this is pretty scary stuff don’t you think? You thought your crypto was secure in Binance, and then you find out it wasn’t after all….
Market Prices 11/3/2026: American Style: A$ .7009, kiwi .5624, C$ .7156, euro 1.1237, sterling 1.3418, Swiss $1.2237, European Style: rand 16.6430, krone 9.2507, SEK 9.7531, forint 325.08, zloty 3.9410, koruna 21.7095, RUB 81.03, yen 157.90, sing 1.2790, HKD 7.8460, INR 94.90, China 6.6490, peso 18.73, BRL 5.4376, BBDXY 1,221, Dollar Index 101.65, Oil $99.84, 10-year 4.91%, Silver $50.18, Platinum $1,438.00, Palladium $993.00, Copper $6.51, and Gold… $3,901
That’s it for today… My beloved Mizzou Tigers beat Arkansas on Saturday night.. The Tigers started slow, but got it going in the 2nd half… I’m back on steroids as my digestive system was up in arms again last week, which means I didn’t get much sleep last night… The funniest joke I heard on Saturday night was: I friend told me that only an onion could make him cry… So, I threw a coconut at his head! The Ides of March take us to the finish line this morning with their hit song: Vehicle… I hope you have a Marvelous Monday today, and Please Be Good To Yourself!
Chuck Butler