TruthBelowGround

If the US just sent another Marine Expeditionary Force from the US (i.e., USS Boxer) to join USS Tripoli MEU, this admin is doubling down. 10-14 more days to sail, 1-2 wks of combat ops, then what? Peace? While you occupy land? Take Kharg or SoH shoreline, fine, but IR can still cause havoc in the Persian Gulf by attacking ships. Even best case, you're 3-4 wks out before SoH reopens. Saudis saying $180 oil by end-April isn't hyperbole, it's basic oil math. SPY & QQQ down 4% YTD is nowhere near accounting for this scenario, a tail risk event that's increasingly going to give global whiplash.

1/ Bloodbath in gold miners today. Everyone's panicking. $GDX down 31.5% from the highs But let's put this in context — bull markets only. Here's what history actually says about corrections in precious metals miners during gold bull markets. 🧵