If you’re wondering why asset prices are getting hit like gold down over 10% and silver down more than 30% in a day then listen to this Kevin Warsh clip.
He’s openly critical of QE and favors a tighter Fed balance sheet which means less liquidity across markets. pic.twitter.com/fye4ds2o06
— Shay Boloor (@StockSavvyShay) February 1, 2026
Nomination of Kevin Warsh as next Fed Chair triggered sharp reversal in "dollar debasement trade” … S&P GSCI Silver suffered largest single-day decline of -31.4%, while gold had double-digit percentage plunge (marking worst one-day performance since 2013)
@SPDJIndices pic.twitter.com/YYZFcP9qmp— Liz Ann Sonders (@LizAnnSonders) February 2, 2026
Gold down over 10% and silver down more than 30% in a single day is not random. Kevin Warsh has been clear for years that QE was a mistake and that the Fed balance sheet needs to shrink. That means less liquidity everywhere, not just stocks. When liquidity disappears, leveraged trades blow up first and hard assets get sold to meet margin calls. This is what tightening actually looks like when it stops being theoretical.
Ray Dalio: “Something needs to prick the bubble to cause a market crash.”
Futures are pointing to a red day in equities. Gold, silver and crypto are also tanking.
But I don’t think this is the beginning of a crash or correction.
Historically, what ended overvalued markets was… pic.twitter.com/WKYXe6djAK
— Oguz Erkan (@oguzerkan) February 2, 2026
This chart gave us plenty of warning ahead of the last financial crisis. It's now giving a similar technical warning 👇 pic.twitter.com/TFKEXbaYsM
— Northstar (@NorthstarCharts) February 2, 2026
$ORCL not looking good..
$58bn in debt and $248bn in leases, Debt/EBITDA is now standing near 500% and it’s raising $50 billion more to meet capex commitments.
Meanwhile its biggest customer, OpenAI, is rapidly losing market share with no profitability in sight.
Not good. pic.twitter.com/5VWFckaPmm
— Oguz Erkan (@oguzerkan) February 2, 2026