"Bretton Woods III is Already Happening"- Zoltan Pozsar

Morning Meeting

VBL

Mar 26, 2024

∙ Paid

Housekeeping: Good Morning.

Bretton Woods Three is a Process, Not an Event

Today:

Zoltan’s Bretton Woods 3 is Already Happening attached at bottom
Premium: Zoltan’s Warning from 2022 Michael Every’s new note

Yesterday’s Activity:

US equities retreated on Monday after reaching new record highs last week.

Market Commentary:

Things will get very hairy in the west.
All world wars are trade wars gone sideways.
Gold will have $200 up days, and $200 down days.
Silver will explode to $100 and collapse to $5
Exchanges will declare force majeur and suspend delivery when primary clearing firms go under
Public access vaults will be depleted even as long as they are used for global pricing.
But those buying don’t care about daily price. Those selling do. Buyers care about the metal and will value it using long term moving averages for future trade. Daily prices will mean less and less as time progresses and physical availability will mean more and more.
Caveat: If you are buying hoping to make money tomorrow, next week or next month, don’t.

Full Analysis at Bottom

Price Action

Gold- top of the range to you
Silver-
Miners-
Oil-
BTC/ETH-
Stocks-
Bonds-
Dollar-

Market News:

"The EU has launched probes into Apple, Alphabet and Meta in the first use of a landmark new law designed to rein in Big Tech’s market power.- Capital is going to go on strike
"Reddit shares jumped 30% on Monday, as investors continued snapping up the stock following last week’s IPO.- people will always chase waterfalls
"Dave Calhoun stepped in to address a crisis at Boeing. He is stepping aside four years later with the manufacturer still mired in a crisis over the quality of its planes. - denial of systemic problems by people in power rewards those not in power who identify those problems and insulate themselves against them
"Employment in nearly one-third of US states remains below pre-pandemic levels, with California and New York registering the steepest declines that likely reflect a pickup in migration to other parts of the country. - The data is cooked, always has been, but now its becoming news
"Adam Neumann, the former chief executive and co-founder of WeWork, recently submitted an offer to buy the bankrupt co-working company for more than $500 million. - He has the money to buy it back
"The owner of Legoland, Sea Life and Madame Tussauds plans to charge visitors more during peak summer weekends than rainy weekdays in the off-season- real time pricing in goods means real pricing in gold
Top MSM News Links

GEOPOLITICS-

Russian President Putin said the terrorist attack was committed by radical Islamists, while he added they know who committed the crime and want to know who ordered it. US Secretary of State Blinken underscored to Israel's Defence Minister Gallant that alternatives exist to a ground invasion of Rafah that would both better ensure Israel's security and protect Palestinian civilians.
US State Department said it is surprising and unfortunate that the Israeli delegation decided not to come after US abstention on the UN resolution, while it added that a full-scale invasion of Rafah would be a mistake and this type of invasion would weaken Israel's security.
Hamas said it informed mediators it will stick to its original position for a comprehensive ceasefire including the withdrawal of Israeli troops from Gaza, return of the displaced and a 'real' exchange of prisoners, according to Reuters.

Some headlines via NewSquawk or DataTrek