⛏ The Whole World Is Stockpiling Like It’s 1939

Are we watching the U.S. go bankrupt?
Lots of people are worried about rising long-term interest rates. Short-term interest rates are controlled by the central bank. But the Fed doesn’t usually intervene in the market for longer-term bonds, so when these interest rates move around, it means the market is telling us something. So a lot of people were worried when the yield on 30-year U.S. Treasury bonds jumped by 6 basis points (0.06%) the other day. Read on »

The Whole World Is Stockpiling Like It’s 1939
On June 7, 1939, US President Franklin Roosevelt signed a new law authorizing $100 million (a lot of money back then) to buy rubber, tin, tungsten, etc., and put it all in storage. The United States was still at peace at the time. World War II had not yet broken out, and global trade was still relatively seamless. But anyone reading a newspaper could see what was coming... Read on »

Copper price sets fresh record as US tariff threat wipes out global surplus
Copper hit a record in New York and closed in on all-time highs in London on Tuesday, as the threat of US import tariffs keeps pulling metal into American warehouses and turns what was supposed to be a comfortable global surplus into scarcity everywhere else. Read on »