Miran to the FED, GOLD reval & more, tariffs / UKR-RU-U.S / #SILJ #GDX / Tim Cook's gift.. / U.S claims! / BoE cut

Stéphan
Aug 8
3 min read

#APPL possibly the highlight of the week ?... so we had one of the richest CEOs on on the planet walking into the White House, on live TV, gifted over to Mr President a customed glass plaque in 24karat gold, that weighted about 10Kg, so worth about 1mio usd, like it’s some sort of renaissance bribe (Cook clearly not the first, nor will be the last..) , and walks out with a tariff exemption worth billions, in fact share price rallied to the tune of about 150bn$...the new normal..!?, I suppose that's a small price to pay...good lord
Markets : GOLD basis/spreads come into play now, #SILJ breaking up, #GDX broke through big resistance last 2weeks (>>> the world is finally noticing...longway to go..), GBP rallies on the 5-4 'split decison' to cut 25bps, initial jobless US claims rose ever so slightly to 226K. Fed influence in focus as Trump nominates Miran, not likely to be next FED chair though, that all said.. you just never know. Putin must meet Zelensky first (WH official), they might all meet in UAE by the looks >>> equitiy markets (MAG7) feel a little toppy, but nothing more, #HSI off highs, few clear weak spots wiht consumers backing off, but no drama, yet anyway. USDollar might get a little more volatile wiht the GOLD news, reval talks, Miran etc.. (NOT a coincidence this is happening together..)
NY Fed: Inflation Expectations tick UP; consumers more optimistic about taxes and their financial situations
GOLD isn’t just an asset anymore. It’s becoming the ‘backbone of a new global system’
U.S 'continued claims' : Claims Surge 1,974,000 — the highest since Trump’s tariffs took effect, layoffs rising, growth slowing and warning signs flashing
Israeli PM Netanyahu says he plans to take full military control of Gaza, and later hand it over to civilian governance “that is not Hamas.”
Trump Says Intel CEO ‘Must Resign Immediately’ >>> then I wonder how many other CEO's of U.S company shared their technology with China in last few years...and are potentially 'conflicted'...!!
White House: Trump signed an executive order to allow 401(k) investors to access alternative assets for better returns and diversification
Once again, and eventually this will matter, tariffs are taxes paid by American importers, not foreign countries, government or sorporations, meaning the money “flowing in that Lutinick claims, or Bessent..” is actually coming (or shared by a few in between at best) from US businesses and consumers, not China, India or anyone else