The MOVE index – which is basically the VIX indicator for the bond market – hit a high earlier this month not seen since the Great Financial Crisis. Similarly, the cost of credit default swaps – which is the cost to buy “insurance” on all forms of debt – has spiked up to its highest level since the March/April 2020 virus crisis. These are indicators of rapidly escalating instability in the credit markets domestically and worldwide. In fact several indicators reflect a degree of risk and fear in the markets not seen since the summer of 2008.
Craig Hemke of TF Metals Report fame invited me on to his entertaining and informative Thursday Conversation podcast to discuss the growing risk of a repeat of 2008/2009, only much worse this time, and how it might affect gold, silver and the mining stocks (click on the graphic below or you can download the MP3 below the pic) :
The precious metals sector looks like it’s ready for a major move higher, especially the junior exploration stocks – you can learn about my Mining Stock Journal here: MSJ information; and my Short Seller Journal subscribers have made a small fortune on the ideas I present weekly in my short seller’s newsletter: SSJ information. Home run short ideas include $ARKK $Z $OPEN $HOOD $DKNG etc.I have several more ideas lined up with substantial downside.