hangry
January 9…)
The mob is the mother of tyranny. Diogenes
in the news
Thailand may limit an individual’s daily online gold trading to between 100-200 million baht ($3.2-$6.4 million) under a set of new draft rules to be unveiled by the finance ministry later this month, Bank of Thailand Governor Vitai Ratanakorn told reporters Friday (BBG).
This is a new twist in the history of gold as an alternative to paper money. Authorities believe the strength in gold is contributing to unwanted strengthening of the Thai baht. Daily gold trading volumes in Thailand have at times exceeded those on the local stock exchange, prompting traders to transact unusually large amounts of US dollars. At peak periods, gold-related deals accounted for 50%–60% of Thailand’s total dollar trading, according to the central bank.
The Iranian regime is facing a severe crisis. Insurrection spread nationwide in recent days triggered by soaring inflation, a plummeting rial and a desperate quality of life. A nationwide internet blackout, dozens of deaths and nearly 1,000 arrests has done little to quell the protests. Most bloggers think Mossad and the CIA are involved. Rumors on Telegram that the supreme leader may seek refuge with Putin.
The Senate approved a motion to debate invocation of the 1973 War Powers Act to limit any further US military action in Venezuela without congressional approval. If it does pass as law and pass the House Trump will veto it requiring a 2/3 majority of both houses. The E-3 suggested deploying multinational NATO or EU troops (from allies like France and Germany) to Greenland if Denmark requests it. They really don’t want Greenland. They never have. They just don’t want Trump to have it, in my opinion.
In the markets
Silver floated higher from the Asia opening on light volume and what I would say is an absence of selling and an organic imbalance. The market usually goes where it wants to be when it’s quiet. Still silver is very unstable and there’s another 14 million toz of spot coming in from the BCOM starting at 8:20 EST. prices are trading higher into the BCOM selling.
Gold prices have been comfortably holding patiently just below recent all-time highs. I’ve seen gold in this condition many times since October 2023.
