Credit crisis unfolding

Usually, credit crises are in the private sector. Today, it’s a global government funding crisis from which there’s no rescue. Gold and silver are the escape route.

This week brought the beginning of a government financing train-wreck to public attention, affecting all G7 nations. That it is only the start of a crisis is the key point, as our oft repeated chart below has been clearly demonstrating since the forty-year downtrend in bond yields was comprehensively broken in 2022:

It has clearly broken out on the upside. The reason is simple and always leads to the