The debtor has become responsible for maintaining the solvency of its creditors. That is the loop. Treasury issues liabilities. The financial system holds them as reserves, collateral, and capital. Those holdings support leverage across the economy. The government then protects the leveraged economy because its collapse would destroy demand for Treasury liabilities.
The military situation and the financial situation are two fronts of the same war. The U.S. cannot sustain the military campaign because its fuel and munitions are depleted. The U.S. cannot sustain the financial system because its credibility and the patience of its creditors are depleted. Both are manifestations of the same core reality: the post-1971 petrodollar order, which depended on cheap energy and subservient creditor nations, is dissolving.
A report by the Silver Institute finds that the gold-silver ratio may be more relevant than ever. In fact, its statistical analysis shows “the price correlation between the two precious metals has actually strengthened over the past two decades as gold and silver markets have become increasingly financialized.”
The decline from the January high of $121.64 has unfolded as either an ABC or also an ABCDE – a corrective wave. We won’t break out until we are over $70.
Given the strength of silver’s big breakout last Fall, it’s asking a bit much to expect it to dig deep into this support before it takes off higher again. It could take off very soon or even immediately.
All this points to the potential for gold, silver, and the gold miners to begin another rise. Given recent divergences that are positive towards gold, silver and the gold miners, we could be getting closer.
I speak BP Silver's CEO, Tim Shearcroft, after news of extensive rock chip and channel sampling showing promising results including 935 grams g/t of Silver, 1.51 g/t Gold with Zinc at 5.5% and Lead at 3.6%. To accelerate progress and increase target coverage, BP Silver mobilized a second drill rig, enabling simultaneous operations at two distinct zones.
The other option is that wave 3 is extending and that only wave i of 3 ended at the 121.56 high...This would suggest that silver is heading well above the $300 level in wave iii of 3.
Coming to us live from the historic Keno Hill Silver District, with Jason Weber, the CEO and President of Silver North Resources, about the 2026 ongoing drill campaign at their 100% owned Haldane silver (and gold) project.
I speak with the CEO of BP Silver, Tim Shearcroft, to learn more about what is developing at the prospective Silver project. Phase 2 drilling underway with ~20-24 drill holes expected to follow-up on high-grade results during Phase 1 at the Pocañita Chica target, looking to confirm and expand on the recent discovery.
