The Dollar gets sold on Friday, but bought overnight

Good day, and a Marvelous Monday to you! I'm feeling much better than I was last week, when I had to bail out of writing one day... I was in no condition to be sitting at my writing desk and writing... And that was that! I'm still dealing with some problems, but, they have abated quite a bit, so I carry on... The World Series has started... I don't have dog in this hunt, and usually I always root for the Nation League, but I can't seem to get my arms around the Brewers... The Dave Clark 5 greets me this morning with their 60's song: Because... 

Well, the dollar continued to be under the microscope and get sold, as the BBDXY lost 1 index point to end the week at 1,220... I saw under the microscope because that's how I see traders looking into the dollar and trying to sell it based on its DEBT... Now, this (The debt) has been something that I've yelling from the rooftops about for decades... But, until now it didn't seem that the traders were listening.

The SPTs have done a masterful job of driving the price of Gold / Silver down... I have that to say about them... But, why? I get to that in just a bit, but first I need to get through the update on the prices we care about...

Gold/Silver got taken down again on Friday, and this time the SPTs and Gold closed below $4,000 and Silver just keeps getting taken lower... Gold ended the week at $3,996, and Silver at $54.04... I don't think that the SPTs have much more nickels and dimes they can get out of Gold/Silver... I'm just saying...

The price of Oil slipped at first on Friday, but ended the week rallying and closed out the week at $103... And the 10-year's yield ended the week on a down note at 5.01%... That's a good number for folks buying gas, and for the Gov't's finances... But other than that, if you look at the 5.01% is all about individuals buying the 10-year, and not Fed Head buying, then I have a bridge to sell you... 

In the overnight markets last night.. The dollar found a couple of buyers, and the BBDXY gained 1 index point... I don't know but it seems the dollar traders are in a pickle... on one side they are seeing better economic data, but on the other side is the debt... That darn old Debt....everywhere you look there's the debt and its hanging over us like the Sword of Damocles.... 

Gold / Silver are starting the week flat... waiting to see if the STPs are going to try squeeze and more blood out of the turnip.... The price of Oil starts this week at $101... and the 10-year Treasury has lost some yield overnight and starts today/ week at 4.98%... 

The Petrol Currencies all also being tugged both ways these days... The begin to rally when the price of Oil rises and then turns around and gets sold when the price of Oil drops... UGH! Pick a lane Oil traders!

And don't look now but the Chinese renminbi trades this morning with 6.66 price handle... That was a big move vs the dollar overnight... and from the looks of things there are more in store for the renminbi... I'm just saying...

Ok, now back to our debt... I read a lot from the Mises Inst. And the latest report from them is that everyone is coming back to the phrase... "The debt is a myth, for we owe it to ourselves"....  C'mon folks don't tell me that you are one these misguided people.... For this is just what it is a Myth... We paid $1.4 Trillion in debt servicing costs last fiscal year... Show me where this interest was paid to us?  

It's a very long read so make sure you have the allotted time to give it proper attention... Mises calls what we have a debt spiral and says we are hurtling down the train tracks... he also said: "There are four theoretical exits from a debt spiral: default, austerity, growth, and inflation. Default is unthinkable to the people whose power rests on the debt’s sanctity. Austerity is unthinkable to the people whose power rests on spending. Growth fast enough to outrun six-percent-of-GDP deficits is a fantasy no honest forecaster will sign. The likely path is a blend of evasions and whatever the blend, its active ingredient is inflation, the exit with no constituency and no ceremony. It is not a policy anyone will announce. It is the station at the end of the line."

Chuck again... My good friend, Dennis Miller had a piece on inflation this past week, and I borrowed a fact from his letter... 

I've told people for years that inflation was sticky, and it wasn't going away. And how It was lessoning your purchase power.. But it had better be beaten soon, because I saw this and shuddered..."1975–2025: $100 in 1975 is worth only $16.40 in 2025, representing an 84% decrease in purchasing power."

Now do you get what I've been telling you? This is ridiculous! Just think about how you go to the grocery store, and your dollar doesn't buy what it used to... now some of that is price increased that go along with inflation, but most of it is inflation... 

Sorry, I had to stop for a couple of minutes while Carlos Santana played Europa... I love this song, will always stop what I'm doing at the time this song gets played... 

Ok, I'm back now... this letter has become a real intense look at the dollar and that's the key folks... The value of the dollar will determine how the currencies fare, how the metals fare, and how individuals fare.

Now, before you go headlong into this, be aware that it's 59 Minutes long, but after watching it I can say that if you skip ahead to about 10 minutes into the show, you'll recognize some of what he's talking about with the shorts... So, there you go!

The U.S. Data Cupboard has some data for us this week starting with tomorrow's printing of Durable Goods Orders, which in Sept were flat... later in the week, we'll see the color of the lasted fave inflation print of the Fed Heads PCE... 

That's it for today... The dollar ended the week seeing some selling, not much but some nonetheless... Chuck thinks that the traders are finally seeing the debt as a problem for the U.S.  Gold/Silver saw short selling going into the weekend and Gold fell below $4,000! Chuck reviews the debt, and other things. 

Here's your snippet: "The Royal Mint has reported record-breaking demand for silver and platinum bullion in 2026, as investors increasingly look beyond gold to diversify their precious metals holdings.

New figures from The Royal Mint reveal that revenue from silver bullion purchases on royalmint.com increased by 295% during the first nine months of 2026, compared with the same period in 2025. Platinum bullion revenue also rose by 118%, with both metals surpassing every previous full-year total, with a quarter of the calendar year still remaining.

Silver bullion coins have been particularly popular, with revenue increasing by 323% year-on-year across the first three quarters. The figures point to growing interest in silver as investors explore different ways to hold physical precious metals, including UK bullion coins.

The exceptional growth in revenue has been driven largely by a surge in buying activity during the opening months of 2026. Across all bullion products, the value of precious metals purchased by customers increased 39% in the first nine months of 2026 compared with the equivalent period last year.

Meanwhile, there are encouraging signs of renewed momentum in gold bullion coins following a period of market uncertainty. Revenue from gold coin purchases increased 21% between July and September compared with the previous quarter, while revenue is up 10% across the first nine months of the year, versus the same period in 2025.

The Royal Mint also continues to attract new investors to precious metals. First-time buyers accounted for 29% of purchasing customers during the quarter, with the number of new customers increasing 13% compared with April to June, despite a challenging investment landscape."

Chuck again... well, if things do work out right, then these are the current lows for Gold / Silver so what are you waiting for? 

Market Prices 10/26/2026: American Style: A$ .7030, kiwi .5664. C$ .7135, euro 1.1196. Sterling $1.3347, Swiss $1.2405, European Style: rand 16.6424, krone 9.3476, SEK 9.9674, forint 328.36, zloty 3.9393, koruna 21.7631,    RUB 80.54, yen 157.26, sing 1.2804, HKD 7.8451, INR 95.19, China 6.6687,  peso 18.74, BRL 4.9791, BBDXY 1,222, Dollar Index 101.81, Oil $101,   10-year 4.98%, Silver $54.06, Platinum $1,5747.00, Palladium $1,1072.00,  Copper $6.51, and Gold ... $4,015.

That's it for today... I'm here are week, no doctor's appts scheduled for me this week .... YAHOO! One thing that my doctor is worried about is how my blood sugar has risen... I reminded him I was on Steroids for nearly a month, but that didn't seem to change his mind... I can check it at home, but that requires a needle stick into my finger... And I get enough needle sticks I don't need to add one... We had little Brooks on Friday all day... he is so cute, and is already recognizing us... The Marshall Tucker Band takes us to the finish line today with their great song: Heard It In A Lovesong... I hope you have a Marvelous Monday today and Please Be Good To Yourself.