Money Metals

For those who think a billionaire’s tax doesn’t affect them, the threshold has just been lowered to $ 50mm. At this rate, you’re next?!

Gold just replayed its 1971–1973 move, including the first big correction. After peaking in ’73, it soared another 7x over the next 7 years, enduring brutal pullbacks of 29%, 24%, 45%, and 20% along the way. This bull market will rhyme with the 1970s: sharp drawdowns, but much bigger upside ahead.

Gold markets are rewriting history: Assets under management (AUM) in the largest US gold-backed ETF, $GLD, are up to $181 billion, near the highest on record. The AUM in $GLD has DOUBLED in less than a year. Over the last 8 years, the value of the fund’s assets has surged +503%. Furthermore, gold holdings in $GLD are up to 1,098 tonnes, the highest since April 2022 and the 2nd-highest since February 2021. Gold holdings have increased +274 tonnes since March 2024. By comparison, the all-time high set in December 2012 was 1,351 tonnes. Demand for gold investments is still unprecedented.

I am not sure that is in Tehran's interest to hold out forever. If they usher in a 1970s style global recession, the "gloves are off." They too have an interest in negotiating somewhere within the Area N. As close to R Point as possible, YES.