Dateline: February 13, 2020


This turbocharged debt cycle will end miserably — it’s just a matter of when
It is clear that it would have been a very hard sell a year ago that every single risk-on asset class from equities, to corporate bonds, to commodities would end up rallying as much as they did in 2019.

There have probably never been as many characteristics of a top as we are experiencing today… (Continue to full article)

Photo: Louie Douvis

The Eternal Relationship Between Gold and Global Crisis
Though it is often referred to by critics and elitist central bankers as a “barbaric relic”, there is no denying that gold is usually the go-to asset during times of crisis and uncertainty. And as much as they pretend to hate it, even the elites secretly stock the precious metal whenever the economy goes awry. In fact, you can almost predict when things will go bad simply by watching how much gold central banks around the globe stockpile in a particular year… (Continue to full article)

Silver Most UNDERVALUED Metal Out There
Relative to all asset classes, I can’t think of one that is more undervalued than silver. If you look at every asset in the metals world, meaning base metals . . . anything to do with the periodic chart, every one of them has obtained a higher price level than it was in 1980 except silver.. (Continue to full article)

Is Coronavirus The Black Swan That Takes Gold To-Da-Moon?
Amid the worries about the coronavirus and its impact on the global economy, the US yield curve has briefly inverted again. Recession, anyone? And what exactly does the inversion imply for the gold market?

Ooops, it happened again – the yield curve has inverted! Please take a look at the chart below. It shows that at the turn of January and February, the spread between 10-year and 3-month Treasuries has dived below zero once again. It stayed below zero only for a couple of days before moving back into the positive territory… (Continue to full article)

Credit-Card Interest Rates Soar to Record High, Bond Yields Drop to Record Low: What Gives?
My “Credit-Card Spread Index” blows out. Heck if I knew what that means, but it doesn’t mean anything good.

The average yield of investment-grade bonds (as per ICE BofAML US Corporate Yield index) dropped to a record low of 2.62% this week. This comes after the Fed cut its policy rates three times last year, from already low levels, to even lower levels, and after it bailed out the repo-market with over $400 billion over a period of just three months… (Continue to full article)

Is that all there is? For today – YES! …as for tomorrow, or next Tuesday or Thursday – we are not sure. The financial news has been taken over by the International Virus, which was named after a crappy beer (Not Really).

Drop back in from time to time – and we’ll keep an eye on just what in the hell is going on. ~ Ed.

[Got physical… close at hand?]

Let’s do something about that…

Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340
Call or TEXT: 1 – 602 – 799 – 8214

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