Those trillions in stimulus mean Yellen will issue trillions in bonds. That would ordinarily drive bond prices down and yields up. But nah. Fed will be the buyer of last resort, keep a cap on yields. Real yields are headed south.

GOLD CFDs $XAUUSD
SILVER CFDs $XAGUSD
Posted this when it broke. Very relevant now:

1/ Countries shifting away from US Treasuries as reserve asset are gradually making the Fed a buyer of permanent (not just last) resort.

2/ $XAUUSD is replacing bonds as a reserve asset.

3/ No, #Bitcoin is not a reserve asset.
So, countries shifting reserves out of US Treasury and into GOLD $XAUUSD drives global USD demand down, forces the Fed to blow out its balance sheet to buy the debt foreigners won’t. USD gets whacked. Real yields get hammered. I can see real yields on US10Y hit -5%.
If you’re not buying GOLD $XAUUSD and SILVER $XAGUSD here - you’re playing it kinda cute waiting for real yields to reverse lower —> Minimal downside for PMs from here and historic upside.
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