SILVER To 'Super Surge' After Debt-Based COLLAPSE - 'We're In the Red Zone': Francis Hunt

Hunt argues that the post-2020 bond-market reset is characterized by bonds failing to rise nominally while rates grind higher, reflecting debt devaluation even in weak economic conditions. He says the possibility of Japan selling Treasuries exposed impaired liquidity, driving 10-year and 30-year rates higher, debt valuations lower, and the dollar down rather than attracting capital into it.

Hunt expects reported year-on-year CPI to meet or fall below the 3.4% expectation, even though he believes underlying inflation is materially higher and may not be declining. He links higher oil prices to Japanese inflation and says that increased energy costs could encourage Japan to repatriate funds and sell U.S. Treasuries.

Hunt contends that the conventional dollar index, near 99, gives a misleading picture because it emphasizes the euro, yen, and pound rather than the United States' largest trade counterparts. He argues that record gold shipments through Switzerland and Hong Kong to China have masked a structural U.S. trade deficit and that the dollar should be assessed more directly against the Chinese yuan.

Hunt describes the global bond market as being in a red zone because central-bank support encourages buying while making it difficult to exit, undermining price discovery. He extends the same lockout concern to private equity and private credit, where fund restrictions can make liquidity appear available on the way up but constrained when investors need to sell.

Hunt distinguishes oil's wartime appeal from gold's monetary role: energy scarcity can make oil the more urgent asset temporarily, while gold remains the longer-term store of value. Consistent with that crisis framing, he argues that directly held physical metals—not ETFs or other paper claims—are the relevant form of capital protection in the collapse he describes.