Watch the price of gold, silver and copper going forward to sense what is really happening.

Politicians talk about a $37 trillion debt when in actuality the true federal GAAP debt is over 3 times that amount using a 7% discount factor.

According to Treasury's own documents as of September 30, 2024, the potential GAAP debt was in excess of $220 trillion.

When the economy is running less than $25 trillion yearly, it does not take an idiot to see the eventual problem. As Minsky said, it only takes one grain of sand ...

It is not surprising to me that Trump and Musk wonder if there is any encumbered gold left in Fort Knox.

The movements of physical gold from London and into China, Japan and India the last few months must be concerning to the London gold exchange.

Although the market has not fallen into correction yet, our screens are finding very few quality stocks. We have liquidated our trading portfolio this week and are now in cash.

Remember -- "Only purchasing power counts!"

By any reasonable measure, this market is dangerous.

Be careful ....