Surcouf85

Chinese Banks Rein in Retail Gold Trading on Volatility Industrial & Commercial Bank of China Ltd., the nation’s biggest by assets, said it’ll stop offering intermediary services for individuals to trade precious metals on the Shanghai Gold Exchange after settlement on July 24. Existing clients are advised to sell or close their positions before then, it said in a statement on Wednesday. China Guangfa Bank Co. asked clients to close their precious metals positions before 3:30 p.m. Hong Kong time on Thursday, or face forced liquidation by the end of the month, according to a notice on Monday. Investors can still put money into gold accumulation products or exchange-traded funds that track precious metals, it said. Retail investors are still able to open trading accounts at the Shanghai Futures Exchange via brokerages, or invest in the so-called gold accumulation plans offered by commercial banks, where they can buy bullion incrementally over the long term. (Bloomberg)

What about “security” and “environmental” fees?

A sharp fall in China’s crude-oil imports during the Iran war has been instrumental in holding down oil prices and keeping the global economy humming on.wsj.com/4vE8BdM

🇺🇸 U.S. Strategic Petroleum Reserve (SPR) stocks fall to 2-year low

🇺🇸 U.S. Strategic Petroleum Reserve drops to 357 million barrels

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Trump painted himself in a corner by trashing JCPOA ("Obama deal") only to find out that his improvisations can only get a worse deal, after: draining SPR, depleating arsenal, ruining GCC, destabilizing NATO, driving inflation higher, ruining US/boosting China global prestige.

How your email finds Europeans from June to September

IPO often stands for It's Probably Over priced

SpaceX IPO valuation implies a 93x revenue multiple and you don’t even have a P/E ratio because the company has negative earnings

🇹🇷 Turkey liquidated almost all its U.S. Treasuries in March

BREAKING: US total crude inventories fell last week ~17.8 million barrels (that's commercial and SPR stocks combined). On that basis, it's the largest weekly fall since data is available starting in 1982.

$ENB Enbridge Warms Up to Canada Oil Pipeline After Carbon Deal

UAE fast tracks second West-East oil pipeline to bypass Strait of Hormuz @CNBC cnbc.com/2026/05/15/uae…

Welcome to the most asymmetric trade in modern financial history. The thread below lays out why. The opportunity exists because capital has chased the AI trade while ignoring the physical assets AI requires to run — assets that have quietly become the best-performing asset class of the decade. Since October 2020 when we first called for the commodity super cycle: QCI Total Return +217%, GSCI Total Return +205%, Gold +140%. NASDAQ trails at +130%. S&P 500 at +85%. The top three are all commodities. Yet oil cannot get out of its own way while copper and the broader atom complex prints fresh highs . That is the dislocation. That is the trade. Get long. Buckle in. Hang on for the ride. Forgive the longer posts in this thread — attempting to mimic my old 10-bullet commodity takes. On to it.

🇺🇸 The U.S. is draining the Strategic Petroleum Reserve at a record pace

Nearly 60 cents of every U.S. fund dollar sits in passive.

“PMs too dumb to sell” Who’s gonna tell him? There are no PMs of consequence. Just algorithms.

Americans who live near data centers are paying as much as 267% more a month for energy than five years ago.

Forever in our thoughts Remembering Ayrton Senna today, and every day 💛💚