I by far don't understand the financial jargon (and also the slang) to follow your reasoning. I wish I could, because obviously there's a lot of work in this post, a lot of observation, sifting sources and pulling threads together (thank you).
But I understand "rien me va plus".
We naturally tend to think that when the math no longer works, then something "logical"(some nice market adjustment? Some tax, some something?) has to happen so we can move on. My intuition tells me no such thing will happen. War, some higher purpose mobilization, even a nuke - that will fix it, as it always has when the math doesn't add up anymore.
Thank you, I saw that post and it is very helpful indeed. However, I am more referring to the way things are being expressed. It reveals long-time working in the field, a bit "insider" talk. Or at least it sounds like that to me as a finance-amateur. On top, it doesn't help that English isn't my mother language. Thank you in any case.
So now it is all about... India? All those gold analysts actually dont have a clue. Same for the war analysts. Its sad to say, since this is the proof that an accurate diagnosis, together with plausible common sense coordinated actions are actually impossible.
I spent yearw trying to solve this dilemma. How can the numerous doomers (some of them hysterically vociferous like Celente) be so utterly ignored by the financial press. Why are they so wrong over and over announcing the everything bubble is bursting just arount the corner? For the last 20 years? The answer is fear bait for short term profit.
Concerning India they are facing a monetary problem for a booming economy. On the one hand metals accumulation neutralises the governments fiat monetary policy, diluting it and debasing the rupee. On the other hand a fiat debt base currency is mandatory for economic expansion, since a gold linked currency can never satisfy the monetary mass necessary for a gigantic economy. Where did all that Trumps making gold legal tender of dollar-linked chatter go? Its a legion of snake oil sellers out there.
Not only India. Asia actually. Because the changes in China are also pretty consequential. They're pushing people for physical delivery. And Indians being Indians only want physical. They don't know much, but they DO know debasement like No1 else...
So if the Rupee goes down MORE against metal, or the USD, does that break the global fiat system? I mean, Stopping the entire country from importing PMs because their fiat is going to sh*t is not really a great plan. Just slows it down a little really. People will get mad, and get creative.
Also I listened to half of this below just now, after 3 days of seeing 'Private Equity' up on my radar, various articles/you toobs that I did not click on.... I got it, as in understand extreme danger the leveraged BS skullduggery of the Financial Bro's (Finkmeisters, etc.).
Short form: Insurance company bought by BlackRock under a Private Equity subsidiary of BR. Private Equity then leverages assets of Insurance Co, and purchases CLO's , basically another term for the Toxic investment vehicles renamed after 2008, Sh*tSandwiches, let's say. And then BR passes on the 90:1 leverage winnings to you! Just kidding, they pass along the imminent bankruptcy after they extract assets.
How many of these should be illegal financial instruments are there?
I am not an investor, just beginning to figure out that the slow motion trainwreck which will affect us all may speed up in the very near future. Merde!
You are simply brilliant. I love your sense of humor. This being said, if the rupee collapses due to a steep increase in the price of oil and fertilizer, and then later in 2026 and through 2027 due to rising food prices, the very people who create demand for metals for cultural reasons will run out of cash to buy them.
Even more Indian people will opt for simple office-paper weddings, which are becoming a new trend among the younger generation, and wait for better times to hold the culturally proper ones.
If the closure of Hormuz lasts long enough, and/or if further production and distribution facilities are destroyed along the way, then the wheels of the global economy will slow down, and with them the demand for metals.
To cut a long story short, every coin has two sides.
Not to worry, it's happy hour in the casino: "silver? silver? we don't need no stinkin' silver !!"
"Detail the incoming foreign capital flow into the US for the first months of '26"
AI:
Incoming cross-border investment surged dramatically during the first five months of 2026, pushing rolling 12-month net U.S. capital inflows to a record $884 billion by April. Driven by a roaring U.S. stock market and competitive yields, foreign entities massively increased their deployment into U.S. assets.
Total monthly capital inflows
According to data compiled from the U.S. Department of the Treasury Treasury International Capital (TIC) reports, the net capital flows—encompassing long-term securities, short-term instruments, and cross-border banking flows—recorded the following performance in early 2026:
February: Recorded a massive net inflow of $184.5 billion. Private investors dominated, accounting for $166.5 billion of the incoming capital.
March: Generated a net inflow of $150.7 billion, with private international investors adding $162.1 billion while foreign official institutions registered minor outflows.
April: Dropped sharply but remained net positive at $26.1 billion. While private cross-border outflows dipped by $23.1 billion, foreign official institutions offset the gap with $49.2 billion in net inflows.
May: Staged a fierce rebound to reach a net inflow of $132.2 billion. Private foreign entities flooded $172.0 billion into the system, countering a $39.9 billion liquidation from official institutions.
Allocation by asset type
Foreign investors allocated their capital heavily across specific asset categories, with equities and corporate debt taking center stage.
Equity markets
Cross-border appetite for U.S. stocks reached unprecedented levels. In May alone, foreign investors purchased a staggering net $134 billion in U.S. equities, contributing heavily to a 12-month net equity purchase milestone of $909 billion.
Fixed income and treasury debt
Long-term U.S. securities drew heavy interest. Foreign resident purchases of long-term U.S. securities hit $96.5 billion in March, $206.0 billion in April, and $262.8 billion in May. However, buyers rotated out of short-term debt, liquidating $43.5 billion in short-term U.S. Treasury bills during May. Long-term corporate bonds saw an injection of $52.5 billion in the same month.
Foreign direct investment
Beyond public markets, physical business investments expanded rapidly. Preliminary data from the Bureau of Economic Analysis (BEA) shows that Foreign Direct Investment in the United States (FDIUS) grew by 54% to $92 billion in Q1 2026. Reinvested earnings from existing corporate structures made up 68% of this figure, while fresh equity inflows surged 82% quarter-over-quarter to reach $28 billion. Canada and Luxembourg emerged as the top geographic sources, each contributing over $15 billion in physical capital.
I placed my bet today. I bought some First Majestic.
Meanwhile my stack is still shiny!
I by far don't understand the financial jargon (and also the slang) to follow your reasoning. I wish I could, because obviously there's a lot of work in this post, a lot of observation, sifting sources and pulling threads together (thank you).
But I understand "rien me va plus".
We naturally tend to think that when the math no longer works, then something "logical"(some nice market adjustment? Some tax, some something?) has to happen so we can move on. My intuition tells me no such thing will happen. War, some higher purpose mobilization, even a nuke - that will fix it, as it always has when the math doesn't add up anymore.
Maybe this list would help to explain some of the jargon? > https://no01.substack.com/p/the-book-of-jargon
Thank you, I saw that post and it is very helpful indeed. However, I am more referring to the way things are being expressed. It reveals long-time working in the field, a bit "insider" talk. Or at least it sounds like that to me as a finance-amateur. On top, it doesn't help that English isn't my mother language. Thank you in any case.
So now it is all about... India? All those gold analysts actually dont have a clue. Same for the war analysts. Its sad to say, since this is the proof that an accurate diagnosis, together with plausible common sense coordinated actions are actually impossible.
I spent yearw trying to solve this dilemma. How can the numerous doomers (some of them hysterically vociferous like Celente) be so utterly ignored by the financial press. Why are they so wrong over and over announcing the everything bubble is bursting just arount the corner? For the last 20 years? The answer is fear bait for short term profit.
Concerning India they are facing a monetary problem for a booming economy. On the one hand metals accumulation neutralises the governments fiat monetary policy, diluting it and debasing the rupee. On the other hand a fiat debt base currency is mandatory for economic expansion, since a gold linked currency can never satisfy the monetary mass necessary for a gigantic economy. Where did all that Trumps making gold legal tender of dollar-linked chatter go? Its a legion of snake oil sellers out there.
Not only India. Asia actually. Because the changes in China are also pretty consequential. They're pushing people for physical delivery. And Indians being Indians only want physical. They don't know much, but they DO know debasement like No1 else...
"India", Psychedelic Furs https://www.youtube.com/watch?v=szZZBQFhAn0
Wow, very detailed work No1. Thanks.
So if the Rupee goes down MORE against metal, or the USD, does that break the global fiat system? I mean, Stopping the entire country from importing PMs because their fiat is going to sh*t is not really a great plan. Just slows it down a little really. People will get mad, and get creative.
Also I listened to half of this below just now, after 3 days of seeing 'Private Equity' up on my radar, various articles/you toobs that I did not click on.... I got it, as in understand extreme danger the leveraged BS skullduggery of the Financial Bro's (Finkmeisters, etc.).
Short form: Insurance company bought by BlackRock under a Private Equity subsidiary of BR. Private Equity then leverages assets of Insurance Co, and purchases CLO's , basically another term for the Toxic investment vehicles renamed after 2008, Sh*tSandwiches, let's say. And then BR passes on the 90:1 leverage winnings to you! Just kidding, they pass along the imminent bankruptcy after they extract assets.
Check out the first few min of this. https://www.youtube.com/watch?v=IOa3Lxi2esM
How many of these should be illegal financial instruments are there?
I am not an investor, just beginning to figure out that the slow motion trainwreck which will affect us all may speed up in the very near future. Merde!
Wow, those are some big volume changes all across the board. Looks like interesting times ahead!
Yup, I'm starting to wake up...
What can I say, but ONE BIG THANK YOU, SIR! Danged.....that was one invaluable piece I've read today!
The pace at which these manipulations are speeding up is overwhelming.....to say the least.
You are simply brilliant. I love your sense of humor. This being said, if the rupee collapses due to a steep increase in the price of oil and fertilizer, and then later in 2026 and through 2027 due to rising food prices, the very people who create demand for metals for cultural reasons will run out of cash to buy them.
Even more Indian people will opt for simple office-paper weddings, which are becoming a new trend among the younger generation, and wait for better times to hold the culturally proper ones.
If the closure of Hormuz lasts long enough, and/or if further production and distribution facilities are destroyed along the way, then the wheels of the global economy will slow down, and with them the demand for metals.
To cut a long story short, every coin has two sides.
Be well and prosper,
M.
Not to worry, it's happy hour in the casino: "silver? silver? we don't need no stinkin' silver !!"
"Detail the incoming foreign capital flow into the US for the first months of '26"
AI:
Incoming cross-border investment surged dramatically during the first five months of 2026, pushing rolling 12-month net U.S. capital inflows to a record $884 billion by April. Driven by a roaring U.S. stock market and competitive yields, foreign entities massively increased their deployment into U.S. assets.
Total monthly capital inflows
According to data compiled from the U.S. Department of the Treasury Treasury International Capital (TIC) reports, the net capital flows—encompassing long-term securities, short-term instruments, and cross-border banking flows—recorded the following performance in early 2026:
February: Recorded a massive net inflow of $184.5 billion. Private investors dominated, accounting for $166.5 billion of the incoming capital.
March: Generated a net inflow of $150.7 billion, with private international investors adding $162.1 billion while foreign official institutions registered minor outflows.
April: Dropped sharply but remained net positive at $26.1 billion. While private cross-border outflows dipped by $23.1 billion, foreign official institutions offset the gap with $49.2 billion in net inflows.
May: Staged a fierce rebound to reach a net inflow of $132.2 billion. Private foreign entities flooded $172.0 billion into the system, countering a $39.9 billion liquidation from official institutions.
Allocation by asset type
Foreign investors allocated their capital heavily across specific asset categories, with equities and corporate debt taking center stage.
Equity markets
Cross-border appetite for U.S. stocks reached unprecedented levels. In May alone, foreign investors purchased a staggering net $134 billion in U.S. equities, contributing heavily to a 12-month net equity purchase milestone of $909 billion.
Fixed income and treasury debt
Long-term U.S. securities drew heavy interest. Foreign resident purchases of long-term U.S. securities hit $96.5 billion in March, $206.0 billion in April, and $262.8 billion in May. However, buyers rotated out of short-term debt, liquidating $43.5 billion in short-term U.S. Treasury bills during May. Long-term corporate bonds saw an injection of $52.5 billion in the same month.
Foreign direct investment
Beyond public markets, physical business investments expanded rapidly. Preliminary data from the Bureau of Economic Analysis (BEA) shows that Foreign Direct Investment in the United States (FDIUS) grew by 54% to $92 billion in Q1 2026. Reinvested earnings from existing corporate structures made up 68% of this figure, while fresh equity inflows surged 82% quarter-over-quarter to reach $28 billion. Canada and Luxembourg emerged as the top geographic sources, each contributing over $15 billion in physical capital.
Nice work. The Chicoms are betting the real metals price is much higher. Get your bets in.