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For the first time in history, gold is over $2,400 per ounce on the futures market. By the way, if you think things are as super-peachy as D.C. wants you to believe, consider that the $400 gold has slapped onto its per-ounce value in just a few weeks might suggest some other reality. Markets don’t move like this just because it makes for a pretty chart. This sucker is looking like Nvidia.
Here’s the latest chart of the Federal Reserve Balance sheet. As you can see, with the exception of the March 2023 bank bailout, QT has been clicking along at a steady pace. The Fed is back to where it was in February 2021, a full 38 months ago. Not bad!
