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Raiders Of The Boss’s Vault
Got gold? If not, the IDF knows where you can find some: There's tens -- and maybe even hundreds -- of millions worth hidden under the Al-Sahel General hospital in Beirut.
Getting in there -- to Dahiya, the suburb where Hassan Nasrallah buried his pirate treasure -- won't be easy, and getting out's likely to be even harder. You'll surely end up in a gun fight with Hezbollah, who won't be keen to let you escape with their slain boss's stash. If you somehow survive that, you'll have to dodge 2,00
At least some people see it as a hedge against the turmoil which will follow a Trump victory. Think Dollar weakness and Navarro imposing capital controls to counter it.
Crazy? You decide! Or wait to see it.
I don’t think anyone’s buying gold because they’re scared of Peter Navarro.
I think the next unfortunate placed in charge of Hezzbollah should set up camp amidst the bullion.
I think Israel’s trying to incite the locals to go digging for that money.
An out on the tail possibility, but one which should be respected. It’s widely assumed that if his immigration and tariff moves start to weaken the S&P he will backtrack because he slavishly believes that is his report card. But seriously, will he give up on the two things he has actually cared about since the 1980s when he bought full page ads in the WSJ and the NYT calling for tariffs now that he does not have to worry about his reelection?
What have your favorite autocrats in similar circumstances done? Your “pal” Erdogan was only the most recent example. Speaking of him, I read that Turkey is applying to join the BRICS group. Perhaps he is attracted to the alternative currency the group is hoping to launch? (Funnily enough, it would be backed with gold. Now wouldn’t that please the right-wingers here in the USA who want us to return to the gold standard.)
Peter Navarro was his principal economic advisor in the first term but was usually overruled by the “adults in the room.” Subsequently Navarro earned even more cred with Trump by ‘”Going to jail for me” as he said recently. If Navarro suggests they try capital controls to stem capital outflows will Trump argue against him?
Some of this is undoubtedly fiscal – the belief that either party will make the fiscal situation much worse driving more demand for hard assets. Its not just gold – its spreading across commodities.
Don’t think its a deficit problem so much as the concern that the lack of control on spending is going to drive inflation.
If Trump gets in there and forces Powell out and puts in a stooge to cut can you imagine what gold will do? Can you imagine what gold will do if James Carville is even remotely right?
Am I the only one, or does that Gold Chimp’s face look suspiciously like Don Jr?