"... central banks around the world stunned pundits by purchasing roughly 650 tons of bullion in both 2018 and 2019."
"Derivatives top the list, estimated at $1 quadrillion or more in notional value according to a variety of unofficial sources."
"Desperate governments will take desperate actions."
"Central banks have pumped $4 trillion into the financial system over the course of the last two months."
"...the markets are addicted to Fed interventions"
"On Thursday, the Mint said that it ran out of stock amid record purchases of the American Silver Eagle bullion coins, which rose from 650,000 ounces sold in February to 2.32 million ounces with just 12 days into March."
"You can’t “buy low,” if you don’t have anything to “buy with.”"
"Europe is shutting down"
"The 10 year UST yield has dropped from ~1.6% to ~0.8% in just 12 trading sessions."
"The party is over."
"In 2017, it’s estimated that humans consumed 100.6B metric tons of material in total. Half of the total comprises sand, clay, gravel, and cement used for building, along with the other minerals mined to produce fertilizer. Coal, oil, and gas make up 15% of the total, while metal makes up 10%. The final quarter are plants and trees used for food and fuel."
"According to Citi’s analysts led by Aakash Doshi, this kind of outperformance is merely the beginning of a bull run for the ages. The team recently published their short- and long-term forecasts, revealing that the metal has enough momentum to breach $1,700 over the next six to 12 months. However, their expectations for gold over the 12-24 month periods are even more bullish, as the team expects gold to pass its all-time high and climb to $2,000 during that time."
While a decade is just an arbitrary measure of time, people often attribute certain emotional and cultural characteristics to it, such as the "roaring 20s" of the 20th century. The 20s of the 21st century are promising to mark a defining period in world history, particularly for the West.
If these lending markets “freeze” like they did in 2008, it could create a retirement nightmare for anyone who isn’t prepared for the bumpy ride.