Big jump in the US govt’s #InsolvencyRatio to 25.2% in FY2026. Interest expense is rising more rapidly than revenue in a trend that crosses the 30% #TippingPoint in FY2027 causing a #default because the budget #deficits & growing #debt become unmanageable. The math projects it but #Treasury & #FederalReserve decide what type a default will be: non-payment, financial repression, or higher #inflation. fgmr.com/a-leap-toward-the-t…

Spoke with @DominicFrisby on #gold & its manipulation, gold's link to #liberty, #geopolitics & much more. Video here on Substack: open.substack.com/pub/frisby… Also here: theflyingfrisby.com/p/gold-i…

The #US gov’t #deficit has been above $2tn for yrs. It’s just obscured by phoney accounting the media dutifully reports without seeking the truth (news clip below). Real deficit = annual #debt increase. Deficits do matter & 12mos ended 30-Sep-2026 is a record. This debt is turned into #currency by #banks to fund gov’t spending that is sucking the #PurchasingPower out from everyone’s wallet, so #inflation will get worse. As Nicole Oresme wrote in his book 'De Moneta' in 1355: ‘the amount of the prince’s profit is necessarily that of the community’s #loss.’ Here are the numbers:

If this is true, it's a good example of what happens when not thoroughly thinking something through. You get unintended consequences, which in this video seem logically compelling as the economic outcome of financial sanctions. But whose propaganda are we to believe?

Market sectors go in & out of favour. 1942-67 stocks, then commodities to 1980 & stocks again since then. Value now is in commodities & the companies that produce them. More here: kingworldnews.com/this-is-wh…

On Oct 27th I'm speaking at Institute of Economic Affairs explaining how #banks have become a danger to #liberty. Q&A & discussion after my presentation. Register here: instituteofeconomicaffairs.b… Topic relates to my new paper ‘Money and federal autocracy’ available here: doi.org/10.1111/ecaf.70060

The Institute of Economic Affairs today published my new article entitled ‘Money and federal autocracy: 1913 and the quiet inversion of the American constitutional order’. doi.org/10.1111/ecaf.70060

This chart shows what I expect will be pressuring markets for the foreseeable future. The risk of default on government #debt is rising. Investors are paying more to protect themselves from that risk. Protect your #wealth by avoiding gov’t debt - own physical #gold.

An interesting stat. Shows the future can't be predicted & outliers do happen, just like in the #financial #markets. Prudent portfolio mgmt means to be already prepared for those outliers (1932, 1974, 2008 etc) before they happen. Owning physical #gold is one way to do that.

Note how #backwardation in #WTI #oil narrowed Friday. Front months down while distant months were up. Markets are beginning to accept that the ongoing wars have longer term implications even if fighting were to stop tomorrow. As I mention in this interview, markets are starting to understand there is an oil inventory problem. Inflation will worsen, and a 1/4% rate hike is not going to lower oil prices. kingworldnews.com/james-turk…

The #ForceMajeure notices have begun. #Oil refineries now realize that promises for future delivery are sometimes unreliable. Very bullish for physical #oil #gold #silver. Own things, not promises. More here: kingworldnews.com/james-turk…

Foreign #TBond sales are pressuring prices, contributing to rising yields. Even countries friendly to #US interests are selling as federal #debt continues its upward climb. Unanswerable questions I’ve been pondering for some time: With liquidity tightening, who are the buyers? Where are their #dollars coming from? Are games being played to ‘paint-the-tape’ and fight the trend toward higher yields even while the #credit & #currency #debasement #risks are becoming more apparent, just like they did in 2008? I expect answers from Mr Market in the weeks.

Critical moment approaching. Markets say an #InterestRate hike a near certainty, but what will the #FOMC do? Raising rates 1) won’t stop #USD debasement 2) will further weaken the #economy already wobbling b/c of higher #oil prices & 3) worsen federal gov’t #deficit now approaching $2 trillion. Fiat currency systems always break eventually; explains why physical #gold #silver make sense to protect your #PurchasingPower. They’re #money that is not based on anyone’s promise.

There will be consequences to this unrelenting surge in Japanese #InterestRates. Japan’s major #banks just reported record FY2026 profits but can they avoid what happened to #SiliconValleyBank when interest rates rose?

The collapse in #Hormuz transits so far has been limited b/c it has been offset by temporary relief from #global drawdowns of strategic #oil reserves. Eventually this decline in inventory levels is going to matter; having the ‘real thing’ always does matter when a #commodity #market goes into a squeeze. Front month futures #prices have been consolidating with limited downside pressure, suggesting that we should be watching for an upside breakout. If it turns into a squeeze, watch out above or for a #ForceMajeure.

Last week #gold +5.6% #silver +6.9% but still in a correction from the big gains earlier this year. If #PreciousMetals follow a normal seasonal pattern, expect an upward trend & higher prices into Q1. Then break out of the consolidation oval into new highs later this year or 2027

Thomas Jefferson argued that no generation can legitimately bind the next by leaving accumulated #debts to be paid by those who had no voice in incurring them.

Sounds great but where is the #money going to come from? The gov’t is broke, with no pockets to reach into. It means more money printing, #dollar debasement, #inflation, weaker #USD, higher #gold & #silver – in other words, what the markets are doing after today’s announcement.