Nobody Special Finance

Precious metals are ripping again this morning as traders in London are starved for silver wreaking havoc in the market even as gold continues to grind higher with the front month contract breaking $4,100 for the first time ever. Meanwhile stocks are higher this morning following Friday's tariff-driven selloff as traders smell TACOs after some softened rhetoric from the Trump admin over the we...

Friday afternoon saw the biggest liquidation in crypto history as $19 billion of levered bets on bitcoin and other cryptos was wiped out the span of a few hours following President Trump's threat of 100% tariffs on China. Could this be the onset of Crypto Winter? Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.c...

China is throwing trade war punches this morning by targeting US semiconductors and ships ahead of a key meeting between President Trump and Xi Jinping later this month. Elsewhere the silver market is relatively subdued compared to yesterdays craziness, but still volatile and deep in backwardation. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Today was a historic day in the silver market with prices setting new records above $51 before selling off several dollars all while stories of shortages swirl and futures went deep into backwardation. Idaho Armored Vaults CEO Bob Coleman joins me to help make sense of it all. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.p...

I like the shiny. And now so does everyone else apparently. The spot price of silver has crossed the important threshold of $50 this morning as markets have gone deep into backwardation amid a shortage of physical bars in London and for some reason US traders seem unwilling to send the metal back across the pond to capture arbitrage. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Spot gold broke above $4,000 this morning as precious metals continue their relentless rise. Though many are calling a top, more and more fund managers are losing confidence in the bond market and reallocating to gold, which would suggest a long runway remains. Elsewhere the circular accounting of the AI Mania has now gone mainstream with pretty much everyone now admitting it's a bubble. Suppo...

The Federal Government is taking a stake in yet another rare earth producer, this time Trilogy Metals as the country continues to ramp up production as a hedge against China. Elsewhere a farm bailout are in the works in DC as the Chinese are yet to buy any US Soybeans in retaliation for US tariffs. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

OpenAI has cut a deal to purchase up to 6GW of AMD GPUs and up to 10% equity in AMD in exchange for many billions of dollars that are going to come from...somewhere. Elsewhere there were leadership changes in both France and Japan overnight that are making waves in stocks, bonds, and currencies this morning. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Since the collapse of Tricolor Auto and First Brands, there have been worries about consumer credit, particularly subprime consumers, and the stocks of several fintechs and banks have sold off since then indicating the early innings of a credit crisis. Elsewhere the price of silver is rallying this morning ahead of the open. Will we see a repeat of the prior two Fridays that says the price of shin...

Zhimin Qian AKA Yadi Zhang AKA The Goddess of Wealth is your typical down to Earth, goal oriented bitcoin billionaire ponzi schemer with secret ambitions to be rule over a Libertarian paradise as God Queen. Well now the UK and China are fighting over the 61,000 Bitcoin worth $7 billion that she stole. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The Challenger Job Cuts report this morning shows that companies are neither hiring nor firing. Like the housing market, the labor market is now essentially frozen. This comes as Treasury Secretary Scott Bessent is warning of a hit to GDP from the government shutdown. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/Nobo...

Unicus Research CEO Lakshmi Ganapathi joins us to talk about the recent bankruptcies and suspected fraud at Tricolor Auto and First Brands as well as some disturbing trends she and he team have uncovered in the Auto ABS market. Check out the Unicus Research website: https://www.unicusresearch.com/ Subscribe to Unicus Research on Substack: http://contrarianunicus.substack.com/subscribeFollow Unicus...

The price of gold has hit yet another all time high, with the front month contract breaking above $3,900 for the first time following the largely expected government shutdown. Elsewhere ADP Private Payrolls swung negative this morning as the labor market continues to weaken and it looks like that data is the best we're going to see for while because the BLS will not be reporting Nonfarm Payrol...

A series of successive policy blunders has led to a massive overcapacity problem resulting in deflation that threatens to crush corporate profits and increase unemployment in an economy already reeling from the collapse of the Chinese real estate market. Now the Chinese government is cracking down on this supply glut with a series of heavy-handed directives that will almost certainly cause problem...

Layoff announcements are starting to pile up as Exxon and Imperial Oil are both announcing layoffs this morning even as OPEC+ plans to add more supply to a saturated market. Elsewhere 100,000 government workers are expected to tender their resignations today even as the BLS is warning that labor and other economic data will cease reporting and collections during a seemingly inevitable government s...

Precious metals are running again this morning as gold makes yet another all time high and silver briefly topped $47 ahead of the expected government shutdown Wednesday morning. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the C...

Last night President Trump announced several new tariffs ranging from bathroom vanities(?) to semiconductors and pharmaceuticals. Elsewhere Personal Consumption Expenditures (PCE), the Fed's preferred measure of inflation, came in slightly higher than month but in line with expectations. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ww...

They call it "Workslop." The low-effort, AI-generated malarkey masquerading as legitimate work that instead of boosting productivity, is actually costing companies millions of dollars in lost productivity while damaging the reputations and interpersonal relationships of employees. Link to Better Up research on Workslop: https://www.betterup.com/workslop?hsCtaAttrib=196496931593 Support t...

The price of silver touched $45 overnight as the squeeze in the white metal continues, aided by paper traders in ETFs combined with mine shutdowns stirring worries about physicals supplies. Elsewhere, second quarter GDP was revised sharply higher from 3.3% to 3.8% due to an increase in consumer spending (?). Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Yesterday OpenAI, Softbank, Oracle, and Nvidia got together an announced a trillion dollars (with a T) in new datacenter spending. They're just making up big numbers now. None of them have the money but nobody cares. Elsewhere there are early signs of dollar shortages popping up overseas in places like Argentina and Indonesia. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Tom from Car Concierge Plus joins me to talk about the state of the US car market and how prices, financing, insurance, and even parts are all getting more expensive due to a confluence of factors including deteriorating credit quality, tariffs, and inflation. Tom also talks about the various ways people can save money when shopping for a car as well as some other considerations, beyond just stick...

The Chinese Central Bank is asking other countries to store their gold in Chinese vaults in Shanghai even as prices in New York and London are now trading at a premium to the Shanghai exchange. Meanwhile gold prices continue to rise as the world anticipates more reckless fiscal policy from pretty much everyone. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Nvidia is buying $100 billion of it's own chips using OpenAI as a middle man in a scheme that was originally discovered by the world-renowned economist and Polk High Footbal legend Al Bundy. Link to my video about Nvidia renting their own chips from Coreweave: https://www.youtube.com/watch?v=UaCJQKaxJtg Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

There was a sudden severe liquidation in altcoins last night as Dogecoin, Solana, and Ethereum longs were liquidated en masse. Bitcoin is also down along for the ride. Meanwhile gold and silver continue to shine. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The Bank of Japan (BOJ) announced last night their intention to begin unwinding it's large position in Japanese stock ETFs. At the pace being proposed, it will take them 100 years to completely unwind the position. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...