World Economic Fuck'em

The Fog Of Oil Authored by Matthew Piepenburg via VonGreyerz.gold, War, oil and gold are making headlines of late for overlapping and independent reasons. Below, we avoid the guesswork, finger-pointing or sensationalism attendant to current headlines concerning Iran and stick to a theme which offers some clarity, namely the interplay of oil and gold. The Fundamentals Stay the Same For years, of course, we have tracked the fundamental drivers which impact the gold price (from DXY debates, inflation signals, and de-dollarization headlines to COMEX outflows). All of these complex signals and themes ultimately boil down to a simple realization:...

Private Credit Firesale Begins: World's Largest Asset Manager Gates Investors In $26 Billion Fund Three weeks ago, when the largest US Private Credit-focused asset manager Blue Owl, was faced with a flood of redemptions due to its outsized exposure to software loans (which are very rapidly being repriced to zero thanks to the disruption from AI), the firm opted against reinstating quarterly redemptions on a retail fund and decided to return investor capital through assets sales instead (effectively also freezing the money in it and gating investors ) announcing a massive...

Hollywood Celebrities Flee The US As The Woke Movie Industry Implodes The collapse of Hollywood has been on the radar for some time now, though the industry consistently and vehemently denies they are in decline.  The movie industry Titanic is sinking fast and the celebrity rats are abandoning the ship.  Some of are even leaving the US for foreign shores.  The media claims that the death of Hollywood is a signal that America is "no longer the cool country." This was the narrative of Fortune Magazine in a recent article discussing...