This isn’t some random commodities pop. This is what happens when governments fund deficits with short-term paper and quietly drain liquidity from the system. Money tightens, stress shows up first in hard assets, and suddenly everyone remembers what real collateral looks like. The market is front-running central banks because it knows the squeeze always breaks something.
Metals look a lot like Q4 07… pic.twitter.com/faQ89ksCVM
— Don Johnson (@DonMiami3) December 26, 2025
This is absolutely insane:
This morning, the US government was selling Platinum coins on the US Mint website for $2,345/oz.
At 6:30 AM ET, Platinum prices surged above $2,345/oz, rising to a high of $2,470/oz by 10:15 AM ET.
Yet, the US continued selling these coins for… pic.twitter.com/Ovs7SFhMAj
— The Kobeissi Letter (@KobeissiLetter) December 26, 2025
Platinum, copper, palladium….all went ballistic.
How can the financial system not be in severe distress?
On top, reverse repos are again soaring.
Why is the collective dismissing this as not a systemic problem?
— Nunya Bizness (@Boiler_Hoops) December 26, 2025
“With a steep yield curve, governments are issuing more short‑dated paper to minimize debt‑servicing costs. As a result, the average maturity of the sovereign bond index is declining rapidly.
The consequence is that monetary and fiscal policy have become more tightly linked,… pic.twitter.com/j55VnOH2iF
— Kalani o Māui (@MauiBoyMacro) December 26, 2025
FED REPO SURGES 📈
FED GIVES $17.2 billion to Wall St
Majority of the collateral swap was MBS💩 at $14.75 billion pic.twitter.com/EnZMcbd3e3
— The Coastal Journal (@1CoastalJournal) December 26, 2025
The gold and silver rush across Asia continues as locals in Singapore storm bullion dealers on a Friday evening to buy coins and bars.
This looks like a near-term top to me. pic.twitter.com/43SPJtw5bJ
— Jesse Cohen (@JesseCohenInv) December 26, 2025
November 14, 2025 – Amid mounting concerns about market liquidity, Financial Sense’s Chris Puplava explains why the Federal Reserve may soon intervene to stabilize short-term funding. As the Fed shrinks its balance sheet, reserves risk falling from “ample” to “scarce,” echoing past crises like 2019’s repo turmoil. A surge in short-term government debt issuance (T-bills) and a bloated Treasury account are draining liquidity from markets, prompting warnings from officials. Credit spreads are widening, signaling stress, but Puplava believes the Fed can resolve the situation through renewed bond purchases. He expects near-term volatility, yet remains constructive about year-end market prospects.