Reeeeee!

The world is turning back to reliable fossil fuels...

"the best hedge against dollar debasement, bond collapse, asset inflation, capitalist populism vs socialist populism politics of 2020s."

"This week I finally went deep underground and looked for myself. Yes, the gold is there, roughly 147 million ounces..."

In the background, a massive realignment grinds away...

Senior Iranian official said Iran has decided to shift its policy from defensive to a 'fully offensive' one and has set a deadline of a few weeks for implementation of MoU by US; IRGC rejects Trump's claim about behind-the-scenes talks; Iran said that there are ongoing contacts with Qatar; Hotter-than-expected Canadian CPI; GOOGL seeks $3.6B in first Australian bond sale; NVDA credit support capped at USD 105B for SB Energy data centre in Ohio that OpenAI will use.

The Leopold lows delivered. SNDK +80%. DRAM +37%. Everyone puked the lows. Now they're chasing the highs. Don't get greedy.

Yahoo Sports reporter Jack Baer said last week, "Mark Walter is reportedly facing a cash crunch."

"The hyperscalers are giving me a headache... stay risk-on, own nominal assets, add convexity, and sell bonds..."

WTF!

Q2 was a busy quarter for hedge funds: here is a full summary of what the top names did in the second quarter... 

"If you want the American dream, you have to take the American values..."

The market has been pricing one AI race... in reality, the technological frontier, the usage frontier and the profit frontier are already beginning to diverge...

Broadcaster tries to subpoena Don Jr, Ivanka and Kushner after Secret Service blocks its process servers...

Freeport-McMoRan, First Quantum Minerals... 

...fraudulently secured more than $1.5 million in COVID-19 small-business loans to fund his election campaign and pay personal taxes and mortgages.

The first gold squeeze was positioning. Now macro is joining. Phase two could be getting started.

Momentum (ignition) gives, and momentum (ignition) taketh away...