Diamond Hands Dig

BREAKING: The Philippines has declared a state of national energy emergency due to a severe shortage of oil amid the Iran War. Details include: 1. The Philippines imports 98% of its oil from the Gulf, with gas prices up over +100% since February 28th 2. The government is also handing out 5,000 pesos ($83) to motorcycle taxi drivers and transport workers 3. The Philippines has become the first country in the world to declare a state of national energy emergency due to the war Asia is facing a major energy crisis right now.

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Precious metals are looking funky. Stay safe out there peeps.

BREAKING: Gold prices are now on track for their largest weekly decline since 1983, down -11.2%.

JUST IN: US national debt surpasses $39,000,000,000,000.00

US gold reserves have never been this small relative to government debt: Gold reserves now reflect just 3% of US federal debt, one of the lowest readings on record. This comes despite the US holding 8,133.5 metric tons of gold, the largest stockpile in the world, and prices surging to record highs. By comparison, the ratio was ~18% in 1980, or 6x higher. At the same level of reserves, gold prices would have to rise +400%, to $26,000/oz, to match the 1980s peak. Meanwhile, in the 1940s, gold reserves backed over 50% of federal debt. To match the 1940s ratio, gold would need to surge +1,340% to ~$75,000/oz. Gold reserves are highlighting just how astronomical US debt has become.

BREAKING: The US has burned through "years" worth of munitions since start of the Iran war, just 13 days ago, per FT. Details include: 1. Concerns are reportedly mounting around rising costs and the US’ ability to replenish stockpiles 2. The rapid depletion of weaponry includes advanced long-range Tomahawk missiles, sources say 3. The Pentagon is set to request $50 billion in additional spending for the military 4. Pentagon officials told Senators that the war had cost more than $11 billion in the first 6 days of strikes Costs of the Iran war are rapidly mounting.

It’s going unnoticed because so much other news is happening, but the war drums are beating again in D.C. The warmongers worry this is their last chance to get the white whale they’ve been chasing for thirty years, an all-out regime change war against Iran. A new Middle East war would be a catastrophic mistake. Our military stockpiles are depleted from three years of backing Ukraine. Our effort to reshore manufacturing has only just begun and will take years to bear fruit. War would worsen our already immense deficit and national debt. Iran is larger than Iraq, Syria, and Afghanistan combined. A war would not be easy and could easily become a calamity. Thanks to President Trump’s restraint during his first term, America has a golden opportunity to pull away from Middle East quagmires for good. We shouldn’t throw that opportunity away so that sone D.C. has-beens can feel tough by sending young Americans to die yet again.

Rising gas prices are causing a steep rise in consumer prices and will slow any future economic growth. It is a tax on all Americans.