Dying US Gold Correlations

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.comHousekeeping: Good Morning.Bretton Woods Three is a Process, Not an EventToday:* Premium: Starbucks and Stagflation* Commentary: China Gold InfluenceMarkets Yesterday:US equities declined on Tuesday ahead of the Federal Reserve's rate decision Markets: China Gold CorrelationsPremium: Is Starbucks a Short?Bottom Lines* US Business is drying up- Still cant buy a home* People are not buying food there- coffee only, even with delivery* China is a problem so far- slow going* Mgt is troubled- Middle East, Unions, Schultz is backMore at bottom…Market News:"The Biden administration is seeking to reclassify marijuana as a less dangerous drug... a historic move that could make it much easier to buy and sell pot and make the multibillion-dollar industry more profitable. Source: WSJ"The world’s largest food and drinks companies have said that poorer consumers in the US are cutting their spending in the face of persistent price rises, in a sign that the lowest earners are bearing the brunt of sticky US inflation. Source: FT"Defaults are reaching historic levels in the office market, as a growing number of owners capitulate to persistently high interest rates and weak demand. Source: WSJ"Home prices in February jumped 6.4% year over year, according to the S&P CoreLogic Case-Shiller national home price index. It marked another increase after the prior month’s annual gain of 6%, and the fastest rate of price growth since November 2022." Source: CNBCGeopolitics: * Walla's Elster citing a senior Egyptian source who told local media that efforts to reach a truce agreement continue in a "positive atmosphere"* Hamas official says the group still studying recent ceasefire offer* Philippines Coast Guard official said China's Coast Guard has elevated the tension and level of aggression, while the official added the Chinese Coast Guard's use of a water cannon is still not an armed attack but is using higher water pressure, according to Reuters.Some headlines via NewSquawk or DataTrekData on Deck:* MONDAY, APRIL 29 None scheduled * TUESDAY, APRIL 30 9:00 am S&P Case-Shiller home price index (20 cities) * WEDNESDAY, MAY 1 2:00 pm FOMC interest-rate decision 2:30 pm Fed Chair Powell press conference * THURSDAY, MAY 2 8:30 am Initial jobless claims April 27* FRIDAY, MAY 3 8:30 am U.S. employment report AprilPremium: ***DO NOT SHARE THIS***