Why not #SqueezUncleBuck?
In the “short squeeze era” as this silver promotion put it (among a litany of other well worn sloganeering)…
It occurs to me that one market is shorted like no other. That market is the one for the US dollar. This picture does not lie. The whole world has been riding the inverse of the US dollar all the way up. I’ve been calling it the anti-USD trade and that is exactly what it is. The chart does not lie. It can’t. It is historical fact.
Now even silver has spiked to play catch up on the anti-USD game.
Meanwhile, the old monetary metal sits like a lump, not playing. Gold is an old fart and this old fart understands nothing about what the kids are doing these days. The old fart is just not playing, not yet.
Speaking of playing, why wouldn’t these young crusaders and old warmed over gold/silver promoters working against the supposed evil of market shorting want to consider the highest level of net commercial hedger shorts on the USD since 2012? That combined with the literal WORLD leaning against Uncle Buck. That second thing is really THE short position. The whole world is betting on it.
I mean, how poetic would the justice be if USD got one of these short-covering rallies and stuffed it in every last casino patron’s face? Contemplate the chart directly above. The WORLD is implied to be short the dollar, the Fed is continually trying to debase the dollar. It’s evil I tell you, what they are trying to do to paycheck-to-paycheckers and savers. It’s evil, this operation to steal from us all through systematic inflation!
Okay, how is that for some sloganeering? Not gaining traction, eh? I am not surprised.
Until the anomaly below is fixed I would have a level of reservation about the speculative events popping off left and right. One short squeeze against one reviled currency would end it all pretty promptly. The Gold/Silver ratio has utterly broken down, putting legions more on the side of anti-USD speculation (including me, to a risk managed degree).
Yet there Uncle Buck rests, in a bounce pattern, today creeping above the SMA 50 with some relative volume. May be nothing. May be something (unexpected by anybody).
“Why not me?” asks Uncle Buck. “Because you’re the turd in the punchbowl” reply the popular kids.
But when it comes sooner or later, the way the world covers shorts on the reserve currency is much like in the 2020 crash. It pukes assets and buys dollars in one hell of a frenzy.
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