Tavi Costa

Agricultural commodities have just broken decisively above nearly 20 years of resistance. And this is happening while: · Diesel prices approach all-time highs · Mortgage rates hover near 7%, with housing already deeply unaffordable · Wealth inequality stands near historic extremes This is precisely the kind of combination that can trigger widespread social unrest, dramatic policy shifts, and intense political pressure. None of us own enough hard assets.

There are two types of inflation: What the government reports and what the real world is experiencing. We all know which one to believe. Just wait until the Fed points to the blue line — or a similar measure — to justify easing financial conditions, even as inflation continues to accelerate. The debt trap is becoming impossible to ignore. -- In this report, I’ll walk you through several ideas across Latin America and the mining sector, along with another macro trade that I’m extremely excited about.

Amazes me that no one is mentioning this as a solution. Want to restore confidence in the Treasury market? Put something real behind it. Announce a massive gold-purchase program. This would be a far better use of taxpayer dollars than another QE policy dressed up under a different name. I am dead serious. The Treasury market is desperate for a credible collateral anchor. The United States once held more gold than the rest of the world combined.

Agricultural commodities are now at their highest level in a decade. Yet another unintended consequence of higher energy prices. Watch the Fed be forced to walk back its hawkish stance even as inflation continues to creep higher. It’s not like these guys have many options. — In this report, I’ll share more than 30 charts that I believe are incredibly relevant for investors today. Hope you enjoy.

This has arguably been one of the most consequential 20-day periods of America’s history. Two interventions to save the Treasury market. Both failed. We may look back on this as America’s emerging-market moment. None of us own enough hard assets. Protect yourself financially. -- If I had to summarize the situation in the simplest possible terms… Imagine being buried in credit card debt while continuing to spend far more than you earn for over a decade.

Here is the wild part about the Treasury market today: The US debt‑to‑GDP ratio is now roughly on par with World War II — actually a bit worse. However, back then: Nearly half of all Treasuries were backed by gold. Today, it’s about 3%. That’s how deep the problem runs. -- In this report, we’ll discuss several important technical setups, highlight a few under-the-radar moves, and discuss some strategic changes I am making in my macro allocation. Hope you enjoy it.

We are experiencing a major monetary gap closing right before our eyes. Gold is money. Everything else is credit. In this report, I’ll walk through several other important macro charts and share one stock I’ve recently started accumulating.

Commodities are making another move. If you’re wondering why they keep coming back: You can’t undo decades of chronic underinvestment and neglect in just two years of solid performance. This still feels like the opening act of a major commodities supercycle. --- In this report, I’ll walk you through the most important signals unfolding across the commodity complex — and where I believe capital should be positioned before the next major move. Hope you enjoy it.

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Silver miners appear to be moving ahead of silver itself. Yes, be on your toes for some normal volatility near resistance, but a breakout here could simply be a matter of time, in my view. Game on. -- Let’s review some critical market moves I have noticed recently that I believe are important to highlight. I will also share my thoughts on portfolio positioning, as I believe we are at an important juncture that requires a few critical portfolio adjustments. Hope you enjoy.