- Gold shines above all else!
- Law Breakers When Will This Stop?
Good Day… And a Marvelous Monday to you… Yes, it’s been over two weeks since I last wrote to you, but I have a doctor’s note excusing me… You see, on Saturday 3/15, the day after my kids came to see us for a week, I woke up in the middle of the night and couldn’t breath, and my blood / oxygen level had dropped to dangerous levels… My wife rushed me to the hospital, where they immediately took me in, and started trying to figure out what was wrong with me… No fever, no chills, no Covid.
They quickly diagnosed me as having pneumonia, a bad case of it… But there was something else and they knew it… After two days of pumping me with antibiotics that should have knocked the stuffing out the pneumonia, the cultures that they grew had diagnosed that not only did I have pneumonia but has E.coli in my lungs along with it…
We questioned the doctor, and the Infectious Disease doctor said that it was rare, but, immediately I came to the conclusion that it was me… Of course I caught something very rare… The I.D. Doctor then explained that was the reason the antibiotics weren’t working, that she needed to change them to fight not only the pneumonia but also eradicate the E. Coli… And they did…
But the damage to my lungs were not healed, not yet… Every time I stand to take a few steps, my blood/ oxygen level drops to dangerous levels, and my heart rate soars… So, baby steps for me until they are healed, and I feel strong again. In the hospital I calculated how many of my 9 lives I had used so far… I counted to 6… Boy, my nickname on the trade desk was “lucky Chuck”… I think that is apropos, eh?
So… While I was gone, I didn’t really check the markets, as I had other things to worry about… But while I was gone, Gold has risen from $2,947, to $3,086 at the close last Friday, a $139 gain… And in the early trading, longtime Gold holders will be smiling when they see what the shiny metal has done…. Silver was just as impressive with its move since I last wrote to you, it has gone from $33.14 to $34.34 a gain of $1.20… And Silver is trading alongside Gold this morning too….
And did you hear the latest from Lola, aka Goldman Sachs? The have forecast that Gold will reach a price of $3,300 by year end… So, if you think it’s too late to buy Gold at current prices, you might want to re-think that thought, because, as history shows us, What Lola wants, Lola gets….
The dollar has seen better times, while I was away…. The BBDXY traded at1,268 the last day I wrote to you, and while I was away the BBDXY had fallen to 1,268, and ended the week, last, the BBDXY was at 1,268…. And was at 1,271 when I last wrote to you… So, not a tremendous drop, but some wobbling here and there… The euro has risen to 1.0835, and at one-point last week it touched 1.09…. Not too shabby for all those that said it was going to parity with the dollar a month ago… And the rest of the currencies have followed the lead of the euro, and all have gotten out of their respective sick beds…
In the overnight markets last night…. The dollar gained a bit overnight, and the BBDXY sits at 1,271 as I write this morning. The euro is still trading above 1.08, and that’s a good thing… Gold, as I mentioned above, is up $32 in the early trading today and has hit a level above $3,100 for the first time ever! Silver has lost some ground overnight, as the short paper traders have been having a field day with shorting Silver lately, but Silver is up 4-cents to start the day today…
The price of Oil has wandered around during the last 3 weeks.. But trades this morning with a $69 handle… And there’s been quite a bit of “yield control” administered by the Fed/ Cabal/ Cartel is the last 3 weeks, and the 10-year treasury’s yield has fallen to 4.19%… that’s a losing deal as far as I’m concerned, with inflation rising, the real yield in Treasuries is negative… Bill Bonner calls buying Treasuries the “dumbest investment in the world”… And unless you stay short, like less than 3 years to maturity, I couldn’t agree more!
I wanted to mention that Copper is really kicking some tail and taking names later recently… The red metal is trading over $5 and isn’t looking back… Here’s Bloomberg.com and their mention of Copper: “US prices of copper have been on a tear this year due to the fear that tariffs will be imposed on imports of the red metal. Futures prices have hit record highs on New York’s Comex, leading to a premium over the international benchmark in London — similar to the disconnect seen in the gold market.”
There has been so many stories regarding “independence day”, which supposedly will be April 2, when a new list of global tariffs will be announced by the POTUS… These rumors have really knocked the snot out of stocks, but that’s not what we’re here to talk about, stocks, right? But the price of commodities should be taking all this inflation pressure as a sign to rally… So, I would watch for that to happen soon…
These tariffs if implemented as rumored, will cause inflation to rise, folks… John Williams at www.shadowstats.com calculates current inflation at around 13%… That’s BEFORE the new round of tariffs begin to cause inflation to rise even further… Funny, not funny HA-HA, the STUPID CPI showed consumer inflation at 2.8%… Now there’s a difference that should be looked at by someone that has far more gray matter than the folks at the BLS, otherwise known as the B.S., to figure out, eh?
But the Gov’t doesn’t care about the effects to the middle-class regarding consumer inflation… As I’ve explained many times in the past, Inflation is the last chance saloon to deal with the enormous debt the country is facing, even with the folks at DOGE finding waste and fraud everywhere… Finding it is one thing, but doing something about it, is another, and so far, all I’m seeing, for the most part is the finding of the waste and fraud, not correcting it, as it will take Congress to get involved there… Turning $20 to $5 helps with the debt… The only other thing the Gov’t can do is default… And as I’ve told you previously, I don’t doubt that we wont see a default in our lifetime…
Circling the wagons back to Gold… here are a couple of snippets of articles regarding law breakers as far as Gold goes…. here’s the first one:
After signing a bill that eliminates sales tax from Gold & Silver sales… “Three Kentucky taxpayers and one of America’s largest precious metals dealers today filed a class-action lawsuit against Governor Andrew Beshear, the Commonwealth of Kentucky, and the Kentucky Department of Revenue for their illegal sales tax collections in connection with retail purchases of physical gold and silver.”
And this one is about a former Fed Reserve employee that was convicted of lying on his disclosures of holding “Fed D” form…. he had done 69 trades and hid them, so sad…. “A former official for the Federal Reserve Bank of Richmond was sentenced on Tuesday to 24 months imprisonment for misappropriating internal Fed information to engage in insider trading.
The defendant, Robert Brian Thompson, 43, of Moseley, worked as a bank examiner and senior manager with supervisory duties for the Federal Reserve—giving him access to confidential information about financial institutions under the Fed’s supervision, including confidential supervisory information.”
I’ve gotten a little off track this morning, my mind is wandering, and I believe it has to do with all the medicine I’m taking. Besides the bathroom sink full of medicine bottles that I take each day; the hospital sent me home with 4 new ones… So, please excuse my wandering…
While I’m at it… Ed Steer highlighted a quote from Abraham Lincoln last week that I think every one needs to not only hear but memorize here we go: “
The U.S. Data Cupboard this week will have the Jobs Jamboree on Friday this week, the ADP employment Report on Wednesday, and some varied economic reports the rest of the week,, starting tomorrow with the ISM manufacturing Index for March, and after recovering to the line drawn in the sand of 50 in February, I expect that the this piece of data will revert back to a level of less than 50 in March…
To recap… Chuck gives us his doctor’s note as to why he hasn’t written in over two weeks… Shoot Rudy, I had to spend my 70th birthday in the hospital! Chuck also gives us a recap of prices in Gold, Silver and the dollar while he was away, and then he goes and gets all philosophical on us, and starts pointing out lawbreakers, and then ends it with a quote from good old Abe Lincoln…
For What It’s Worth… This article came to me from Money Metals.com and it’s about the Fed’s losses from their bond holdings. Remember them? When the Fed/ Cabal/ Cartel decided to buy the poison bonds from dealers to help them out of a sticky situation? Well, they’ve come back to haunt the boys and girls at the Central Bank and you can find it here: The Fed Posted Another Big Operating Loss in 2024 and It’s Ultimately Your Problem
Or, here’s your snippet: “While most people view the central bank as an extension of the government, at its core, it is a business, and it is set up to make money.
Right now, it isn’t.
The Fed’s losses are a direct result of its rate hikes, and its financial condition offers a glimpse behind the curtain into the unseen consequences of its war on price inflation.
After insisting that price inflation was “transitory” for months, the Fed was forced to take action and begin raising interest rates in March 2022. This is the root cause of its current operating losses.
In simplest terms, as it hiked rates, the bank had to pay commercial banks more for the money they parked at the Fed. Meanwhile, its interest income remained static as the Treasuries and mortgage-backed securities on its balance sheet continued to yield lower interest income. From there, it’s a simple math problem. The bank has paid more interest to banks than it has collected on its asset portfolio.
The root of this problem goes back to the 2008 financial crisis and the Great Recession when the Fed purchased trillions in low-yielding securities during multiple rounds of quantitative easing (QE), followed by an even bigger round of bond-buying during the pandemic years. The Fed purchased these Treasuries and mortgage-backed securities during a time when interest rates were pushed artificially low by its own monetary policy.
Today, after having driven interest rates much higher over the last two years, it is paying interest at a much higher rate, however, it is still collecting lower rates of interest on the paper on its balance sheet.”
Chuck again… The article goes on to talk about how this will all end up being our problem going forward…
Market Prices 3/31/2025: American Style: A$ .6254, kiwi .5690, C$ .6968, euro 1.0824, sterling 1.2953, Swiss $1.1350, European Style: rand 18.3650, krone 10.5438, SEK 10.0209, forint 3.7106, zloty 3.8666, koruna 23.0735, RIUB 84.77, yen 149.28, sing 1.3415, HKD 7.7790, INR 86.47, China 7.2536, peso 20.36, BRL 5.7612, BBDXY 1,271, Dollar Index 103.83, Oil $69.56, 10-year 4.19%, Silver $34.17, Platinum $993.00, Palladium $981.00, Copper $5.09, and Gold… $3,117.89
That’s it for today… Sorry to ramble on about non-market stuff, but I thought it best to know what’s going on… Before I went to the hospital, I had a week of vacation with my Spring Training Buddies, we had a blast, that was very low-key compared to when we were younger… Thank you to Rick and Kevin for making my vacation fun! We saw 4 baseball games in 5 days! I hope it’s obvious that these fellows are as big of Baseball Fan that I am! And yes, I turned 70 while in the hospital, not the idea I had for the day, for my youngest son and his new bride, were on their way here to celebrate my birthday with me… Alex and Grace did bring me my favorite pizza down here, to the hospital for a birthday celebration dinner so I did get to have a little fun! I looked in the mirror the other day, and was shocked, I’m beginning to look just like my grandfather! I did age some while in the hospital, but my God, what the hell has happened to me? I no longer look like that picture that accompanies the web site: www.dailypfennig.com…. Good thing I had my 50th H.S. Reunion 2 years ago! Blood Sweat and Tears take us to the finish line today with their song: You’ve Made Me So Very Happy… Which is how I feel this morning, as I write for the first time in 3 weeks… I hope you have a Marvelous Monday today, and please Be Good To Yourself!
Chuck Butler