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Silver stocks on fire (we don't own all)

Up 10% on average (just today!)

#long
We added almost 1 mln euro to our silver stocks allocation today ... (now around 10% of our portfolio)
SILJ might fly next week (breakout)
#long
Same for SIL #long
Because of the strong inflows in SIL/SILJ these ETF's have to buy extra silver miners which are included in these ETF's ... causing an upward spiral
Correction: 15% (silver positions)
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willem middelkoop
@wmiddelkoop
The West is experiencing its worst crisis since WW2. They can and will print more and more ..

I am scared for all poor countries who will be hit even more and don’t have flexible CB balance sheet.

This time the IMF is not able to help because the US doesn’t want them to help!
US is facing a HUGE crisis as well. It’s economy (68% consumption), with little industry (most of the jobs in the service sector) is like a fast moving train crash now. 30mln lost jobs might be very hard to create again. Add the obesity/health crisis and it gets scary indeed ..
Add a looming/returning EURO-crisis and an escalating US-ChinRussia (fin/eco) war to the mix, to understand we are about to enter a second phase even more dangerous phase of this Corona crisis.
Read 14 tweets
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willem middelkoop
@wmiddelkoop
EU insider David Marsh on the German constitutional court ruling: omfif.org/2020/05/confli…

Tuesday’s judgment marks a turning point in many ways. For the first time, a German court has voiced fundamental disagreement with a major European ruling over integration.
In unusually harsh and unflattering terms, the constitutional court has stated that the European Court of Justice, in its judgment of December 2018, has exceeded its competence to assess the validity of the Bundesbank’s participation in the ECB’s asset purchases.
This throws doubt not just on the future of the five-year-old €2.2tn public sector asset purchase programme, the focus of the lawsuit, but also on the shape and size of the €750bn pandemic emergency purchase programme decided in March,
Read 11 tweets
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willem middelkoop
@wmiddelkoop
Thread

So what is a Big Reset?

Probably not a one-time event, but a series of important changes coming to the International Monetary System (IMS), which started in 1944 (Bretton Woods Conference), when the $ became the anchor for the IMS.
The US promised the dollar would be ‘as-good-as-gold’ and could always be exchanged for Gold at $35 per ounce. Russia and China chose not to be part of the new IMS. All was well till the 1960’s.
So under the Bretton Woods Rules, gold was the basis for the dollar and other currencies were pegged to it. The Bretton Woods System effectively came to an end in the early 1970s when President Nixon announced that the US would no longer exchange $$ for Gold.
Read 20 tweets

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