Comex Flood Continues, The Deep State Bleeds, Gold COT Extremes Return

Musk takes down USAID and UNRWA funding, Trump gets closer to deal with Mexico, the world is changing FAST.

The Minute it Gets Hairy, Bitcoin to Gold Falls

The big money is starting to sweat just a little bit. The tariffs are coming, Canada is so pissed that Trudeau that pissant whiny little demon is getting mileage out of it, the dollar index is surging in a clamor for cash to ensure debt can continue to be serviced, and as a result bitcoin is taking a hit and gold is steady.

The triple top is at about 37.5oz per BTC, and we're now down to about 33.5 - 34. Support is at 33.4, so if the imaginary "store of value" doesn't hold (meaning, if people's imaginations falter here, and they will eventually), then the code to nothing is going to flash crash to about 28 is my guess to fill the gap there.

From there, it's a long way down, but it will probably come in discrete steps.

RFK Will Very Likely Be Confirmed, and Tulsi, Too

From the sources I follow, it is very likely that RFK will be confirmed as head of HHS. A lump comes to my throat to see the true spirit of America fighting back against the deep state monsters for one last glorious haymaker (I hope) before the end game. Practically, this means shorting pharma stocks (I'm short PPH with a few puts, nothing too big) looks like a good bet here. If you're making this move, I always buy more time than I think I need.

Polymarket has Tulsi's chances at about 65%, and Lindsey Graham is voting yes on both her and RFK. Graham is among the top 3 most disgusting warmonger military industrial complex creatures in congress, so if he's voting for Tulsi, Trump's men have got this guy firmly in a very compromosing and painful grip, which is quite glorious. My prediction is if Graham is voting yes on Tulsi, she's in. If I were a gambler, I would consider a small put position in ITA just for fun, and no this is not advice. It's just me.

Might I add that Tulsi is the most beautiful woman to ever serve in Congress. (Even prettier than Clinton's two girlfriends Madeleine Albright and Janet Reno, believe it or not.) After the sincerely gross era of transgender horror we've seen this decade, we could use some real beauty on stage.

Thanks to Sponsor Dolly Varden Silver (DOLLF) (DV)

This substack post is sponsored by Dolly Varden Silver (DOLLF) (DV), which I own. The main reason I have accepted a sponsorship, which I only do very rarely (only the second time on Substack), is that I trust the people involved, and I know other people personally who I trust who have also invested. The rest are details, but that is the primary reason.

Aside from the latest news which just came out today, here's what I can highlight very quickly:

90% of Dolly Varden's resources are silver, and very high grade at about 300g/t on average. Hecla Mining (HL) which I also own, owns 12% of the company. Eric Sprott owns 10%. Even Fidelity owns 7.5% of the market cap, so it's got serious backers.

If you're interested at all in investing in miners emerging from exploration to production, and it’s not for everyone, then I'd encourage you to read the corporate presentation and make the decision for yourself.

Treasury's Account Continues to Swell As Trump Burns Down Agencies

USAID DOWN! Keep the blowtorch burning! We're still right at the debt ceiling and the TGA, the Treasury's bank account, continues to creep higher, now at $826B. That's up $121B since the inauguration. What's happening is spending is falling so the account is filling up without more debt being added. This is great, but it's also going to speed up the crash, because it's going to put downward pressure on bank reserves, as I've said before.

Repo Volume Hits New All Time High