The gold rush of central banks.
Today’s Michael Lewis “Big Short” opportunity is rather the ongoing devaluation of fiat currencies relative to real assets with limited supply, which are imperative to society either as commodities or sound money. pic.twitter.com/t6JZMmbAmm
— Otavio (Tavi) Costa (@TaviCosta) June 1, 2024
I've been asked for years, "What is going to replace the USD?"
My answer has always been"Nothing is going to replace the USD…but gold IS replacing USTs as primary global rsv asset."
Sanctions on Russian FX rsvs makes this trend likely to continue.👇
Great chart by @JanGold_ pic.twitter.com/med2gierIq
— Luke Gromen (@LukeGromen) May 31, 2024
Bat Phone☎️ringing at the COMEX.
Eligible physical gold inventory has drawn down ~55% since 1Q21 peak. This week, gold delivery notices stepped-up 10x. 2-month rolling deliveries +2x relative to Covid-supply chain driven draws.
Paper-Physical basis further rupturing. pic.twitter.com/4tXCa74uAI— DC (@dimit) June 1, 2024
This is the key trade of the next 10 years. Tech is stupidly overvalued. Commodities dirt cheap. pic.twitter.com/QRdqVsR6t5
— Kevin Bambrough (@BambroughKevin) May 31, 2024