Despite that, long-term yields are already at, or about to hit, ~2-decade highs.

For this quarter he plans to spend just $83B... hardly enough to stop yields from surging.

The longer this war goes on, the faster the US will need YCC.

credit:

“Gold Can’t Have a Budget Deficit. Gold Can’t Start a War.”

The US Treasury Secretary REIGNITED the GOLD STANDARD

https://x.com/he US Treasury Secretary REIGNITED the GOLD STANDARD DEBATE speaking with Tucker Carlson:

"Gold is something that historically people have all agreed on.
Gold can't have a fiscal problem.
Gold cannot have a gigantic budget deficit.
Gold cannot have a war.
Just the fact that it is this isolated thing makes it VERY INTERESTING.
The ENTIRE GLOBAL TRADING SYSTEM UNTIL RICHARD NIXON TOOK US OFF WAS TIED TO GOLD!"

Tucker: "So you're not anti-gold?"

Bessent: "Oh no! When I had my fund, I think people might have called me a GOLD BUG!"

silvertrade/status/2090068766902083859/video/1

Treasury Announces Increased Sizes of Nominal Long-End Liquidity Support Buybacks Beginning September 9

The U.S. Department of the Treasury is increasing, by at least double, the size of liquidity support buyback operations for longer-dated nominal coupon securities (the 10-year to 20-year sector and the 20-year to 30-year sector).  The current maximum size of $2 billion per operation will be at least $4 billion per operation.

Bob Coleman via X

Imagine what higher rates would do to this number?

adding one trillion every 100 days

so 50 trillion in in 1000 days.....less than 3 years

https://preview.redd.it/nfugawj1y28h1.png?width=680&format=png&auto=webp&s=327f684475432a67d2c697cdede7e823c1afdd38

No, the US federal government has not passed a full ("clean") audit of its consolidated financial statements.

Key Facts (as of 2026)

• The Government Accountability Office (GAO) audits the US government's consolidated financial statements annually. For FY 2025 and FY 2024, GAO was unable to express an opinion (a disclaimer) due to material weaknesses in internal controls, especially at the Department of Defense (DoD), issues with intragovernmental transactions, and problems preparing the consolidated statements.
• This has been the case since GAO began these audits in 1997 — the government has never received a clean audit opinion on its full accrual-based financial statements.

Department of Defense (Pentagon)

• The DoD is the biggest obstacle. It has failed its audit for the 8th year in a row (FY 2025), receiving a disclaimer of opinion.
• It is the only major federal agency that has never passed a clean audit. Congress has set a target for the DoD to achieve one by 2028.
• Some progress: The Marine Corps has received clean opinions for FY 2023–2025 (first military service to do so), and more components are improving, but the department-wide picture remains unresolved.

Other Context

• Many individual federal agencies (CFO Act agencies) do receive clean audit opinions on their own statements.
• The issue is primarily with consolidating everything at the government-wide level and persistent problems at large entities like the DoD.

In short: No full clean audit for the US government overall, and the Pentagon continues to fail its own audits despite targets for improvement. This is a long-standing transparency and accountability issue.

Silver

China restricted silver exports January 1, 2026.

Then imported record amounts every month since.

They control 70% of the world's silver refining.

Soon restricting the Sulfuric acid needed to refine it. Effective May 1.