Registered goldbug. Certifiably certifiable.
In the vault
Joined January 2022
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There has been a lot of excitement among goldbugs since @judyshel was hired by Scott Bessent's Treasury Dept.
Those of us outside govt like to imagine there is some grand plan, some master strategy or 5D chess playing out.
However, this reply Shelton posted back in July gives us a peek at the reality behind the curtain. The status quo has tremendous inertia and will not be altered until something breaks.
Remember, the crypto people donated tens or hundreds of millions of dollars to get Trump elected. They even got him to give a speech about a so-called Strategic Bitcoin Reserve in which he said "never sell your Bitcoin." But that entire agenda seems to have stalled out, along with the price of Bitcoin.
My takeaway is that no one is going to take any preemptive measures that rock the boat of the status quo. The system will remain as is until something breaks and they have no other choice.
Until then the people in DC are just going to continue milking the current system to enrich themselves. We are never going to get a gold revaluation or any form of sound money until there is a major GFC-style crisis and the entire house of cards is at risk. Even then they are more likely just to go back to QE than to give up the option of printing unlimited amounts of unbacked currency.
Gold will still go higher, but it will happen in spite of govt action, not because of it. Gold is the enemy of the dollar system and they will fight it every step of the way.
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Joe Mama retweeted
AXIOS: LUTNICK BLOCKED TRUMP'S NVIDIA–CHINA CHIP CRACKDOWN
Commerce Secretary Howard Lutnick repeatedly stalled restrictions on Nvidia ($NVDA ) chip exports to China, despite Trump approving action three times, according to Axios.
At an Oval Office meeting, Trump consulted Elon Musk, who backed tighter controls alongside Rubio, Bessent and Hegseth.
Lutnick reportedly warned the move “will start a trade war with China.”
Trump ultimately ordered: “Let's get it done.”
Axios reports the restrictions still have not been implemented. The Commerce Department disputes parts of the account.
Joe Mama retweeted
Massie: "DOGE never really happened... Elon Musk found it was easier to land rockets backwards and put internet on Antarctica... than it was to get anybody in these two chambers to cut a penny of spending."
Joe Mama retweeted
Iran has struck a US radar/navigation site on Oman's Didamar Island in the Strait of Hormuz used to facilitate illegal smuggling through the Strait of Hormuz, and satellite imagery showed no ship traffic in the strait afterward.
Joe Mama retweeted
IMPEACHMENT, Article III
The law requires our military to withdraw from hostilities within 60 days if Congress does not authorize the activity.
Operation Epic Fury has been underway for 256 days. Congress has not authorized it.
Hegseth is breaking the law.
Not even debatable.
Joe Mama retweeted
BREAKING: Global central banks bought +321 tonnes of gold in Q3 2026, their largest quarterly purchase since Q4 2024.
This also marks their 5th-largest quarterly purchase on record.
Central bank gold purchases were up +8% from +296 tonnes acquired in Q2 2026 and up +453% from Q1 2026.
By comparison, the 5-year quarterly average stands at +227 tonnes.
China and Poland led Q3 demand, adding +63 tonnes and +40 tonnes, respectively.
Year-to-date, global central banks have purchased +675 tonnes of gold, up +6% from the same period in 2025.
Central banks are aggressively buying the dip in gold.
Joe Mama retweeted
Incoming Rep. Don Leonard says top House Democrats have threatened to “make [his] life a living hell” and cost him re-election if he continues attaching conditions to his support for Hakeem Jeffries for speaker.
His conditions: 1) a vote on an amendment to end Citizens United and 2) “end U.S. support for the war in Iran and the country, Israel, that led us into it.”
He says Jeffries is refusing to meet with him and the threats are like something “out of a movie.”
Joe Mama retweeted
IRAN'S REZAEI: IF US ATTACKS IRAN, WE WILL ATTACK NOT ONLY NEARBY AMERICAN BASES, BUT ALSO DISTANT US BASES LOCATED IN FAR-OFF PLACES THAT WE HAVE NOT YET ATTACKED
Joe Mama retweeted
The Senate needs 27 Dems to flip for Schumer to not be speaker. And there are fewer possible votes to get.
The House needs 34. Only 7 more votes out of 254 members.
If these Senators can have the courage to come out against Schumer, the House margin can totally be overcome too.
Joe Mama retweeted
On Tuesday, voters in Providence, Rhode Island overwhelmingly passed an ordinance requiring the city to divest from companies that enable genocide, apartheid, and human rights violations.
"The ordinance is the Palestine solidarity movement’s first binding municipal divestment law passed through popular vote in the U.S. — and makes Providence the largest U.S. city to vote to divest from Israel."
“Millions of dollars in Providence city funds are invested in companies facilitating and profiting from the Israeli genocide in Gaza, apartheid system in the occupied West Bank, and ongoing assault on Lebanon and Iran,” Jewish Voice for Peace-Rhode Island explained in a press release. “In addition, Providence has a 20-year history of investing millions in Israel Bonds, which function as direct, no-strings-attached loans to the Israeli government and military.”
“It was regular people who said, ‘we are going to create this ordinance, we are going to get enough signatures to get this on the ballot, we are not waiting for our elected officials to do something, we are going to do that work ourselves to make it happen,’”
- via @truthout
Joe Mama retweeted
🇺🇸 BREAKING: Eleven Democratic senators led by Sen. Chris Van Hollen (D-Md.) are urging congressional leaders to strip three provisions from the annual defense bill that would lock in deeper US military and intelligence ties with Israel, citing Israel's conduct in Gaza, the West Bank and the region.
The three provisions they want cut:
🔸 Section 1217 (Senate defense bill): creates a "United States-Israel Defense Technology Cooperation Initiative" for joint weapons production and research in AI, quantum computing, biotechnology and cyberwarfare
🔸 Section 219 (House defense bill): creates the same initiative
🔸 Section 618 (Senate intelligence bill): requires the US to "expand and enhance intelligence sharing" with Israel and bars it from being "suspended, reduced, or otherwise materially limited"
The senators warn the plan would hand Israel leverage over US weapons, noting Israel already used a missile defense deal to keep US Iron Dome batteries from Ukraine. They quote Prime Minister Benjamin Netanyahu calling the initiative "my plan," and cite reports that the U.S. Defense Intelligence Agency has raised Israel's counterintelligence threat to its highest level.
🔗 Signers include Sens. Elizabeth Warren, Bernie Sanders, Patty Murray, Brian Schatz, Andy Kim, Ed Markey, Jeff Merkley, Peter Welch, Tina Smith and Ron Wyden. The letter is addressed in part to Senate Minority Leader Chuck Schumer.
Joe Mama retweeted
You have 3 very interesting developments unfolding in the global gold market:
Singapore:
Its central bank has launched a service to store gold for foreign central banks, with a capacity of 500 tonnes.
China:
Beijing is courting foreign central banks to buy and store gold in China through the Shanghai Gold Exchange.
Hong Kong:
Authorities are seeking participation from foreign central banks in a new gold-clearing system, while aiming to expand gold storage capacity to over 2,000 tonnes.
Watch this closely...
A scramble is playing out.
Joe Mama retweeted
“Unless Speaker Jeffries is willing to commit to enforcing our nation’s laws, like The Leahy Law, against Israeli genocide in Gaza; unless the Speaker is willing to get to the heart of this crisis which is Citizens United, he will NOT have my vote.”
Congressman-elect Don Leonard on his conditions for Hakeem Jeffries to have his vote for Speaker of the House
Joe Mama retweeted
Today, I led 11 of my Senate colleagues in calling on House & Senate leadership to strip the upcoming defense bill of provisions that MANDATE defense & intelligence cooperation with Israel — including one advanced by Netanyahu himself.
This doesn’t make us safer, see why ⬇️
Joe Mama retweeted
BREAKING: The 11 House Democrats who missed the vote that killed Thomas Massie's Hegseth impeachment resolution have all received significant pro-Israel AIPAC money in Congress.
Just seven of them voting against the referral motion would have flipped the 211-204 result.
Haley Stevens (MI): $15.9M
Laura Gillen (NY): $551K
Marilyn Strickland (WA): $371K
Steven Horsford (NV): $214K
Nancy Pelosi (CA): $166K
Julia Brownley (CA): $134K
Brittany Pettersen (CO): $125K
Lou Correa (CA): $80K
Frederica Wilson (FL): $39K
Melanie Stansbury (NM): $28K
Jonathan Jackson (IL): $21K
Haley Stevens is the highest AIPAC recipient in Congress.
Joe Mama retweeted
The end of the credit cycle means the beginning of the gold cycle: myrmikan.com/pub/Myrmikan_Re…
Joe Mama retweeted
Incoming Rep. Don Leonard says top House Democrats have threatened to “make [his] life a living hell” and cost him re-election if he continues attaching conditions to his support for Hakeem Jeffries for speaker.
His conditions: 1) a vote on an amendment to end Citizens United and 2) “end U.S. support for the war in Iran and the country, Israel, that led us into it.”
He says Jeffries is refusing to meet with him and the threats are like something “out of a movie.”
Joe Mama retweeted
Food and energy came in hot. But if you exclude that, goods came in hot. But if you exclude that, shelter came in hot. But if you exclude that, the rest of core non-housing services came in hot.
If you exclude that, then, well, there's nothing left. Let's dig in. /1
Joe Mama retweeted
Chris Van Hollen lays down the gauntlet on war funding: “Not a penny more.” He dares Trump to shut down the government in order to continue an unpopular war he promised never to launch in the first place.
With Van Hollen open to a bid to challenge Schumer, this puts pressure on Schumer to match his commitment.
Okay...so start by opposing Hakeem Jeffries for Speaker of the House.
Until we get Israeli-paid stooges out of leadership positions nothing will change.
I am outraged by Section 219 that integrates our military with Israel's.
This needs to be top priority in the lame duck.
I am pushing every Democrat and our leadership to get Section 219 out of our defense bill.
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