Bessent's economic war plan, Operation Economic Outcast, continues as the US attempts to control the soaring interest rates of its sovereign debt, the price of a shrinking global supply of oil, and the crippled confidence in the full faith and credit of the US Dollar.
But in the short term if you have the will and the cash you can cast a fairly broad fig leaf over the desiccated corpse of your strategic position.
The Dollar continues to chop sideways. Again, DXY is not all that relevant given its heavy weighting to the Euro.
VIX fell.
Oil took a heavy-handed hit that was a blatant price manipulation with the primary effect of enabling traders connected to Bessent and Trump to make easy illicit profits.
It has little to no effect on global oil supplies, and no significant benefit to the American people.
There was a precious metals futures option expiration on the Comex today.
It was more significant for silver than for gold.
We may get another gut check by the wiseguys on those holders of new futures contracts from their 'in-the-money' longs.
This is going to end badly.
The responsibility for this is not on one man, but those in the Congress and the Courts who have enabled this chronic abuses of the Constitution and the national interest.
Have a pleasant evening.
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