Gold to $3,702.95

 

Yep, gold made another new record high: $3,673.95

 

Gold makes new record high $3,646.29, spot silver to $41.29

 Reuters.

Gold hit a record high $3,599.89 on Friday Sep 5 2025, silver holds just under $41

 

Mark Pulte, the father of Lisa Cook accuser Bill Pulte, loses homestead exemption on Michigan property after Reuters investigation finds he committed same infraction of which his son accused the Fed governor lol

Bill is obviously not the sharpest knife in the drawer. 

 Bill Pulte accused Fed Governor Lisa Cook of fraud. His relatives filed housing claims similar to hers: Reuters

... Mark and Julie Pulte, the father and stepmother of Bill Pulte, President Donald Trump’s appointee as director of the Federal Housing Finance Agency, since 2020 have claimed so-called “homestead exemptions” for residences in wealthy neighborhoods in both Michigan and Florida, according to the records. The exemption is meant to give a discount to homeowners on taxes for properties they use as their primary residence. 

Local tax officials in both states told Reuters that claiming more than one home as a primary residence isn’t generally allowed in their jurisdictions and could be punishable by fines or back taxes. After Reuters contacted tax officials in Bloomfield Township, Michigan, to inquire about the dual claims, Darrin Kraatz, director of assessing, on Thursday said the township “as of today” would revoke the exemption on the Pultes’ residence there. ... 

It isn’t clear how much the Pultes may have saved each year because of the Michigan claim, but on Friday property records already indicated the exemption there is now zero.

 

Bye dad!

 

 

GM to make new EV production cuts in Tennessee and Kansas City according to Reuters

 

... GM will stop production of two electric Cadillac SUVs at its assembly plant in Spring Hill, Tennessee, during the month of December, according to a person familiar with the matter and communications to GM employees viewed by Reuters.

The plant produces the midsize Cadillac Lyriq — a relative hit and one of GM’s top-selling EVs — and the Vistiq, a larger electric SUV.

GM also plans to significantly curtail production of those vehicles during the first five months of next year by temporarily laying off one of its two shifts of workers, according to the sources. The company will additionally shutter the plants for one week in October and November.

The automaker is also planning to indefinitely delay the start of a second shift at an assembly plant near Kansas City, which is still slated to begin production of the Chevy Bolt EV later this year, the person familiar with the matter said. ...

More. 

Gold hit a record high $3,578.50 today, silver rose to $41.34

 Safe-haven gold rally gains further momentum after soft US data

... Spot gold was up 1.2% to $3,576.59 per ounce by 2:25 p.m. EDT (1825 GMT), after hitting a record high of $3,578.50. ... 

Riding the wave of gold's rally, spot silver rose 1.1% to $41.34, its highest level since September 2011. ...

 

Gold briefly makes new record high $3,508.50 . . . and $3,529.93 in the PM Update per Reuters

 

 ... Spot gold was steady at $3,476.48 per ounce, after hitting a record high of $3,508.50 earlier in the session. Bullion has gained 32% so far this year. U.S. gold futures for December delivery gained 0.9% to $3,546.80. ... Spot gold prices rose 27% in 2024, and broke the $3,000 per ounce level for the first time in March ...

More.

PM Update per Reuters:

... Spot gold was up 1.5% at $3,529.01 per ounce as of 2 p.m. EDT (1800 GMT), after climbing as high as $3,529.93. Bullion has gained 34.5% this year. ... 

Spot silver inched up 0.4% at $40.84 per ounce, after hitting its highest since September 2011. ...

Real Clear Politics rewrites headlines to make Trump look better

 

 

 

Appeals Court Rules Against Some Tariffs But Leaves Them in Place takes you to  Most Trump tariffs are not legal, US appeals court rules lol.

https://www.msn.com/en-us/news/politics/most-trump-tariffs-are-not-legal-us-appeals-court-rules/ar-AA1LvGU7

https://www.reuters.com/legal/government/most-trump-tariffs-are-not-legal-us-appeals-court-rules-2025-08-30/ 

 

 

 

Gaslighting: Spot gold to $3,433.99, spot silver to $39.14 on persistent core inflation of 2.77% average yoy for the last 18 months, 85% higher than the old normal, not on rate cut probability

 

They want a rate cut so bad, everything points to one, including what doesn't. 

 Gold on track for best month in four as inflation data bolsters rate cut bets

... Spot gold was up 0.5% at $3,433.99 per ounce. Bullion has gained 4.4% in August so far. U.S. gold futures for December delivery rose 0.7% to $3,497.30. ... 

Spot silver added 0.2% to $39.14 per ounce and gained for the fourth straight month. ...                        

PM Update:

... Spot gold was up 0.9% at $3,447.09 per ounce. ... Spot silver added 2.1% to $39.89 per ounce ... 

Two weeks Trump was already at it again on Friday before meeting with Putin on Saturday

... Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil - which is subject to a range of Western sanctions - but might have to "in two or three weeks." ...

 

More. 

Islamist suicide bombers kill at least 20 Christians, wound many more, during mass in Damascus church a day after the U.S. attacks on Iran's nuclear enrichment sites

 

At the Mar Elias Church in the Dweila neighborhood of Syria's capital Damascus on Sunday.

It's driving the Reuters writer of this story at CNBC crazy that US Treasury securities aren't selling off lol

Foreign holdings of U.S. Treasuries top $9 trillion in March, data shows

 ... Holdings of U.S. Treasuries surged to $9.05 trillion in March, an all-time peak and up more than $233 billion from $8.81 trillion in February. Compared with a year earlier, Treasuries owned by foreigners rose nearly 12%.

Some analysts said that trend could change in April as the Trump administration introduced a massive trade shock on April 2nd that saw effective tariff rates surge, particularly on Chinese goods.

That fueled a U.S. Treasuries sell-off that, at one point, pushed benchmark 10-year yields more than 70 basis points (bps) higher to nearly 4.6% over the April 3-11 period. The selloff may have included selling from foreign investors, analysts said.

Trump has since paused the imposition of tariffs for 90 days, and the Treasuries market has stabilized somewhat, although foreign investors are likely to have remained leery of U.S. assets. ...

Yeah, I don't think so.

10Y yield averaged 4.28 in April lol, unchanged from March lololol.

Trump is still pressing for tax increases on the rich to pay for all his gimmicks

 Trump urged US House Speaker Johnson to raise top tax rate, sources say

U.S. President Donald Trump privately urged House Speaker Mike Johnson during a phone call on Wednesday to raise the tax rate on the wealthiest Americans and close the carried interest loophole for Wall Street investors, two people familiar with the conversation said on Thursday. ... Treasury Secretary Scott Bessent told reporters last week that Trump had ruled out the idea. ...

Spot gold touches record high of $3,473.03 in early trading, later climbs to $3,500.05

 

Spot gold was up 1.4% at $3,472.49 an ounce, as of 0247 GMT, after touching a record high of $3,473.03 per ounce earlier in the session.

More.

Mad King Ludwig says his tariffs will bring in $1T in the next year lol

 President Trump has argued that some of the tariffs he's imposing this week could help the government raise over $1 trillion in the next year or so

 S&P 500 loses $2.4 trillion in market value, biggest one-day loss since 2020

Yeah that worked out great for Afghanistan, might as well try it for Ukraine omg

Cue record needle scratching across the record here.

 

In the aggregate US Treasury yields haven't moved much since the end of November, after which duration began to normalize, but looky here

 On Nov 29, 2024 the yield curve averaged 4.356 in the aggregate, after which we began to see duration normalize.

On Feb 21, 2025 it averages 4.357.

Now, however, there are seven securities in the Bills category, not just six, with Treasury rolling out the new 1.5-month (6-week) security as part of debt-ceiling-forced "extraordinary measures". There are five in the Notes, and two in the Bonds.

Duration normalization has now partly reversed because of the extraordinary measures, at least on a weekly basis, with yields for Notes once again falling below those for Bills on average on Friday.

If you count just the traditional 1MO, 3MO, 6MO, and 1Y among the Bills, the Bills yield average is nearly identical to Notes at 4.2825.

These falling yields may be both signaling and spurring increased purchasing of UST, including among the Notes to lock in an anticipated disappearance of opportunity as Bills issuance surges to fund the Treasury General Account. The increased issuance of Bills means yields fall across the curve, at least temporarily, as investors lock in.

The special 6-week security rolled out at 4.41 on 2/18 and was paying 4.39 on Friday vs. only 4.15 for the 1Y and 4.42 for the 10Y, the latter's lowest yield all month. Falling yields for the 10Y is a specific goal of the Treasury under Trump. Evidently the temporary 6-week Bill is helping them achieve that . . . for now.

Reported Feb 5 and Feb 6:

Bessent's focus on 10-year US Treasury yield may let Fed off the hook

..."The president wants lower interest rates and ... in my talks with him, he and I are focused on the 10-year Treasury," Bessent said. "He is not calling on the Fed to lower rates. He believes that if we ... deregulate the economy, if we get this tax bill done, if we get energy down, then rates will take care of themselves and the dollar will take care of itself." ...

 10-year Treasury yield drops as traders digest news on issuance, fresh data

... The [Treasury] department also said it will be issuing more short-term bills than usual as it uses “extraordinary measures” to keep the government operating while Congress battles over the debt limit. That announcement came despite new Treasury Secretary Scott Bessent previously criticizing his predecessor, Janet Yellen, for issuing unusually large amounts of shorter-term debt. ...

 

 

 

Black Hawk helicopter collision with passenger jet was part of a routine, annual re-training of night flights on a standard corridor for a continuity of government mission

 Crashed US Army Black Hawk unit was responsible for doomsday readiness

... The three soldiers killed in the collision were part of the 12th Aviation Battalion at Fort Belvoir in Virginia, whose responsibilities in a national crisis include evacuating Pentagon officials. Another 64 people were killed in the passenger plane. ...

This is just BS from Speaker Mike Johnson about LNG exports and Joe Biden's memory

 Whatever may be said about Joe Biden's memory, he didn't have a memory lapse in this instance as alleged by the Speaker of the US House of Representatives. It's troubling that Mike Johnson would misrepresent this in this way. 

Joe Biden doesn't have a monopoly on "fake shit".

Sir, why did you [President Biden] pause LNG exports to Europe? Like, I don't understand. Liquefied natural gas is in great demand by our allies. Why would you do that? You understand -- we just talked about Ukraine -- you’re fueling Vladimir Putin’s war machine because they’ve got to get their gas from him."

He looks at me, stunned, and says, "I didn’t, I didn’t do that."

I said, "Mr. President, yes, you did. It was an executive order, like, three weeks ago."

He says, "No, I didn’t do that." He’s arguing with me.

-- The Moment Speaker Mike Johnson Knew Biden Wasn't "In Charge" Anymore 

LNG exports to Europe were not paused. And demand in Europe dropped in 2024. Biden signed a temporary pause for pending approvals of LNG exports, not for existing approvals of LNG exports. This and Mike's other comments in the story indicate that he is not exactly reliable on the subject. But he could have easily just looked it up.

Jan 26, 2024:

FACT SHEET: Biden-⁠Harris Administration Announces Temporary Pause on Pending Approvals of Liquefied Natural Gas Exports

Sep 4, 2024:

US LNG export dominance tested as Europe's demand wilts

Meanwhile, Mike Johnson didn't tell anybody about this until now? Seems like a dereliction of duty for the man in line right behind the VP to become president in the event of incapacity or death.

And, oh yeah, US LNG export tanker loads hit a seven-month high in January 2025 at 71, through yesterday: