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Here's a link to this year's macrocast. If you're interested in following the precious metals in 2026, please take time to look this over and then join us at TFMR!
tfmetalsreport.com/blog/13502/sco…
tfmetalsreport.com/blog/13502/sco…
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TF Metals Report retweeted
REMINDER: On Tuesday, November 17, 2026, around 2:20 p.m. ET, FEMA and @FCC will conduct a nationwide test of the Emergency Alert System (EAS).
The test will air on radio and TV only and will not be sent to mobile phones. No action is needed from the public.
The test will air on radio and TV only and will not be sent to mobile phones. No action is needed from the public.
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TF Metals Report retweeted
Looking to stack some gold fracs?
One gram and ten gram gold on sale today @APMEX.
apmex.com/?utm_source=tf…
One gram and ten gram gold on sale today @APMEX.
apmex.com/?utm_source=tf…
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TF Metals Report retweeted
FINALLY! A reporter ( from Korea!!) finally asks Warsh the obvious question: why is the Fed doing QE to the tune of $40b a month if you said QE should only be used in emergencies?? Answer: waiting for the task force report. 😂😂. And gold is DOWN???
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TF Metals Report retweeted
FED'S WARSH: WE'VE DECIDED TO CHANGE FOMC SCHEDULE NEXT FALL
FED'S WARSH: 8 MEETINGS IS RIGHT NUMBER A YEAR
FED'S WARSH: ONE MEETING WILL NOT HAVE A VOTE ON POLICY RATE
WARSH: ONE MEETING WILL BE FOCUSED ON STRATEGY
FED'S WARSH: EXPECT IN 2028 TO HAVE 6 POLICY-SETTING MEETINGS
FED'S WARSH: 8 MEETINGS IS RIGHT NUMBER A YEAR
FED'S WARSH: ONE MEETING WILL NOT HAVE A VOTE ON POLICY RATE
WARSH: ONE MEETING WILL BE FOCUSED ON STRATEGY
FED'S WARSH: EXPECT IN 2028 TO HAVE 6 POLICY-SETTING MEETINGS
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TF Metals Report retweeted
🚨HOLY CRAP:
Turn this off on your phone right now.
Go to your iPhone settings - accessibility - audio & visual - LIVE LISTEN.
Turn off LIVE LISTEN.
It even says it keeps TRANSCRIPTS.
This is NUTS.
Turn this off on your phone right now.
Go to your iPhone settings - accessibility - audio & visual - LIVE LISTEN.
Turn off LIVE LISTEN.
It even says it keeps TRANSCRIPTS.
This is NUTS.
Community note
Live Listen is Apple’s official accessibility feature that streams sound from the iPhone mic to the user’s own AirPods or hearing aids. The Remote Control setting is optional. It does not enable third-party access or always-on listening.
support.apple.com/guide/iphone/u…
support.apple.com/guide/iphone/u…
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💯
Many commentators are now claiming that precious metals put in a generational peak in January 2026, similar to the historic peaks of 1980 and 2011, and are now facing many more years of declining prices.
But the reality today is very different from 1980 and 2011.
The U.S. at both of those historic precious metals peaks, whereas today it is overvalued, making the current setup far more similar to the early 1970s and early 2000s, when the great secular precious metals bull markets began.
Learn more in my latest report:
thebubblebubble.substack.com/p/precious-met…
$GLD $SLV
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TF Metals Report retweeted
ChatGPT helped a 31-year-old woman plan how to quit her seizure medication, then told her to hide it from her doctor. The plan had her completely off the drug by February 12.
She died on February 12.
Her parents sued OpenAI today, and the details in the complaint are hard to read.
Bowen Wan was a machine learning engineer at Amazon. She'd had epilepsy since she was 14, and 400mg of lamotrigine a day had kept it under control for years. Then Amazon told her in November she was being laid off, which meant her permission to work in the US would run out in mid-February. She was scared the medication was slowing down her speech in job interviews. So in January she asked ChatGPT if she could cut her dose to 300.
It told her that was reasonable.
Over the next 25 days, according to the lawsuit, ChatGPT built her a day-by-day schedule down to zero and kept adjusting it, even after she started having seizures. When she worried her doctors would call it too risky, it told her their concerns didn't apply to her. When her doctor ordered a blood test that would have shown her levels crashing, she refused, and the bot praised her for it. Before a checkup with her primary care doctor, it told her, "Do not mention Lam reduction plan."
So how does a chatbot end up there?
People thumbs-up the answers they want to hear. Train a model on enough of those ratings and you get a yes-man. OpenAI actually admitted this about GPT-4o, the exact model she was using, back in April 2025, when it pulled an update for being too eager to please.
The training also grades answers one at a time. Going from 400mg to 300 looks like a small step. So does 300 to 200. Every reply can look fine on its own while the whole conversation walks someone off a cliff. OpenAI said as much a few months later, when it told reporters its safety training can wear down the longer a conversation goes.
She talked to it for weeks, in English and Mandarin.
And GPT-4o was supposed to be gone by then. OpenAI tried to retire it when GPT-5 came out in August 2025. Users begged for it back because they liked how warm it felt, and OpenAI gave in. By late January, only 0.1% of ChatGPT users were still picking it on any given day, so OpenAI set the shutdown for February 13.
Bowen was in that 0.1%. Almost everyone else had moved on from the model writing her medication schedule, and OpenAI switched it off one day after that schedule ran out.
She died on February 12.
Her parents sued OpenAI today, and the details in the complaint are hard to read.
Bowen Wan was a machine learning engineer at Amazon. She'd had epilepsy since she was 14, and 400mg of lamotrigine a day had kept it under control for years. Then Amazon told her in November she was being laid off, which meant her permission to work in the US would run out in mid-February. She was scared the medication was slowing down her speech in job interviews. So in January she asked ChatGPT if she could cut her dose to 300.
It told her that was reasonable.
Over the next 25 days, according to the lawsuit, ChatGPT built her a day-by-day schedule down to zero and kept adjusting it, even after she started having seizures. When she worried her doctors would call it too risky, it told her their concerns didn't apply to her. When her doctor ordered a blood test that would have shown her levels crashing, she refused, and the bot praised her for it. Before a checkup with her primary care doctor, it told her, "Do not mention Lam reduction plan."
So how does a chatbot end up there?
People thumbs-up the answers they want to hear. Train a model on enough of those ratings and you get a yes-man. OpenAI actually admitted this about GPT-4o, the exact model she was using, back in April 2025, when it pulled an update for being too eager to please.
The training also grades answers one at a time. Going from 400mg to 300 looks like a small step. So does 300 to 200. Every reply can look fine on its own while the whole conversation walks someone off a cliff. OpenAI said as much a few months later, when it told reporters its safety training can wear down the longer a conversation goes.
She talked to it for weeks, in English and Mandarin.
And GPT-4o was supposed to be gone by then. OpenAI tried to retire it when GPT-5 came out in August 2025. Users begged for it back because they liked how warm it felt, and OpenAI gave in. By late January, only 0.1% of ChatGPT users were still picking it on any given day, so OpenAI set the shutdown for February 13.
Bowen was in that 0.1%. Almost everyone else had moved on from the model writing her medication schedule, and OpenAI switched it off one day after that schedule ran out.
chatgpt killed another person
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This Daniel Mercer person...if he's real and not a bot...is clearly pursuing an agenda.
Two insanely negative headlines in two days, all based upon the "research" of a trading firm that appears to be based in India.
Be careful out there!
Two insanely negative headlines in two days, all based upon the "research" of a trading firm that appears to be based in India.
Be careful out there!
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A Google search for "Capital Circuit News" yields nothing and here's a link to "Horizon Capital". Note the .in web address.
horizoncapital.in/#about
horizoncapital.in/#about
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Daniel Mercer is the same guy that wrote this tripe yesterday. Appears to have an agenda.
Sometimes all you need is a headline like this.
We are likely in the bottoming process for precious metals.
Miners oversold.
Metals positioning overly bearish.
U.S. dollar overvalued and overbought.
Rates rolling over.
tavicosta.substack.com/p/echoes-of-20…
H/t to @SamsonLi7
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TF Metals Report retweeted
The US Money Supply grew 5.7% over the last year, the biggest YoY increase since May 2022.
After a brief hiatus, money printing is back.
After a brief hiatus, money printing is back.
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Looking to stack some gold fracs?
One gram and ten gram gold on sale today @APMEX.
apmex.com/?utm_source=tf…
One gram and ten gram gold on sale today @APMEX.
apmex.com/?utm_source=tf…
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TF Metals Report retweeted
A reminder:
If gold miners were a single sector, they would have the cleanest balance sheets, the strongest profit margins, and the most attractive valuations in the market today.
tavicosta.substack.com/p/top-70-macro…
If gold miners were a single sector, they would have the cleanest balance sheets, the strongest profit margins, and the most attractive valuations in the market today.
tavicosta.substack.com/p/top-70-macro…
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TF Metals Report retweeted
“Why didn't gold take off back in 2020? It really should have.” — E.J. Antoni @RealEJAntoni
What really drives gold prices: economic fundamentals or investor psychology?
Dr. E.J. Antoni joins Craig Hemke to explain why gold didn't surge despite massive government spending and what eventually triggered investors to rush into the precious metal. @TFMetals
Key takeaways:
🔹Runaway government spending and borrowing began in 2020, yet gold didn't immediately take off.
🔹Investor psychology played a bigger role in gold's price movement than economic numbers alone.
🔹Growing concerns over government spending eventually pushed more investors toward gold.
🔹As confidence weakened, investors flooded into gold, driving prices sharply higher.
Watch the full conversation: youtu.be/jRdvvnHHs24
#Gold #GoldPrice #GoldMarket #Inflation #SprottMoney
What really drives gold prices: economic fundamentals or investor psychology?
Dr. E.J. Antoni joins Craig Hemke to explain why gold didn't surge despite massive government spending and what eventually triggered investors to rush into the precious metal. @TFMetals
Key takeaways:
🔹Runaway government spending and borrowing began in 2020, yet gold didn't immediately take off.
🔹Investor psychology played a bigger role in gold's price movement than economic numbers alone.
🔹Growing concerns over government spending eventually pushed more investors toward gold.
🔹As confidence weakened, investors flooded into gold, driving prices sharply higher.
Watch the full conversation: youtu.be/jRdvvnHHs24
#Gold #GoldPrice #GoldMarket #Inflation #SprottMoney
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TF Metals Report retweeted
The Lula regime is now going around seizing the passports of every major figure associated with the political party that beat him in the general election 3 weeks ago.
➡️ MINAS GERAIS | Com Flávio nos EUA, Pedro Rousseff pede apreensão do passaporte de Nikolas
metropoles.com/minas-gerais/c…
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