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The Kobeissi Letter
World central banks are diversifying their reserves:
Foreign holdings of Treasuries as % of US government debt have fallen to ~23%, the lowest in 22 years.
The percentage is down ~11 percentage points over the last 9 years.
At the same time, gold holdings as a % of global international reserves have hit ~18%, the highest in 26 years.
The share has risen ~8 percentage points since 2015.
China has been one of the biggest buyers of gold over the last few years.
Since the beginning of 2023, China’s gold reserves as a % of total foreign reserves have doubled to 7.1%.
Everyone wants gold.
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World central banks are diversifying their reserves:
Foreign holdings of Treasuries as % of US government debt have fallen to ~23%, the lowest in 22 years.
The percentage is down ~11 percentage points over the last 9 years.
At the same time, gold holdings as a % of global international reserves have hit ~18%, the highest in 26 years.
The share has risen ~8 percentage points since 2015.
China has been one of the biggest buyers of gold over the last few years.
Since the beginning of 2023, China’s gold reserves as a % of total foreign reserves have doubled to 7.1%.
Everyone wants gold.
tweet
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Finding Compounders
Making Money Out of Junk
An article on Walter Schloss https://t.co/PMESlXcxDH
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Making Money Out of Junk
An article on Walter Schloss https://t.co/PMESlXcxDH
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soken
https://t.co/iPTdB7WXG6
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https://t.co/iPTdB7WXG6
i think 100 niggas could beat 1 gorilla everybody just gotta be dedicated to the shit😂😂 tweet
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Offshore
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Offshore
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soken
POV: It's 2050, you realise you've wasted 37 years in office instead of bought btc at 100K dip
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POV: It's 2050, you realise you've wasted 37 years in office instead of bought btc at 100K dip
What do you get when you take an eight-year-old #bourbon and refine it with Texas mesquite and American oak charcoal? Add a little Matthew McConaughey and the answer is #Longbranch. #WildTurkey https://t.co/eX6GN5hVgX tweet
Offshore
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The Kobeissi Letter
BREAKING: US existing home sales fell -5.9% month-over-month in March, to an annual rate of 4.02 million, the lowest pace of sales for any March since 2009.
This also marked the largest monthly decline since November 2022.
The drop was significantly worse than the expected a -3.1% decrease.
Sales dropped in all four US regions, with the largest declines occurring in the West and South.
Demand remains weak as home prices are near record highs while mortgage rates are above 6.5%.
The US housing market is frozen.
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BREAKING: US existing home sales fell -5.9% month-over-month in March, to an annual rate of 4.02 million, the lowest pace of sales for any March since 2009.
This also marked the largest monthly decline since November 2022.
The drop was significantly worse than the expected a -3.1% decrease.
Sales dropped in all four US regions, with the largest declines occurring in the West and South.
Demand remains weak as home prices are near record highs while mortgage rates are above 6.5%.
The US housing market is frozen.
tweet