The inversion of the yield curve that is occurring is...

The inversion of the yield curve that is occurring is technical.

Bank reserves drew down $117 bln in the last 2 weeks.

Banks have been replacing those lost reserves (Tier 1 assets) with Treasuries (also Tier 1 assets), which is normal, but this situation is being compounded by the debt ceiling. This is keeping new bond supply from being issued so everyone is bidding up existing bond supply.

What the Fed should be doing in response is increasing and accelerating its roll-off, yet the idiots are going slow and even talking about stopping.

They're really stupid over there. Crisis creators.

I am getting out of gold.

It looks like everything the central banks are doing now is deflationary.

I may get back in at a later date, but I have a profit and I am going to take it.