Eurodollar University

CarMax is back as a microcosm of the entire consumer economy. The company stumbled back in the spring then at the end of summer declared – no big deal - everything was turning around. Instead, not long after management eventually admitted it didn’t turn around which, this past week, was totally confirmed when CarMax reported sales that had basically crashed during the quarter. Eurodollar University's conversations w/Steve Van Metre---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To reserve your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The Bank of Japan keeps hiking its policy rate, Japanese bond yields continue to rise, yet no matter how high interest rates go over there the weaker the Japanese yen seems to get. And no one can figure out why. The government is stumped. Central bankers can only complain. And the yen is not the only one, but is a critical example of what everyone leaves out because they don’t really know what they’re looking at, or even looking for. Eurodollar University's Money & Macro Analysis------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. Reserve your spot below but you better hurry, there aren't many left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------EDU's After-Christmas SALEGet $1,000 off an annual subscription to our DDA+ or 40% off an annual membership. Complete details and checkout at our website link below:https://www.eurodollar.university/holiday-offer---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Repo fails, a measure of collateral flow throughout the entire financial system, soared to more than $300 billion as of the middle of December. It was the highest for any non-quarter end week going back to June 2023. At the same time, borrowing from the Fed’s repo facility is way up again as investors refuse to buy the spin from private credit that their portfolios are just fine and from central bankers who say the same thing about the economy. Eurodollar University's Money & Macro Analysis------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To reserve your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------EDU's After-Christmas SALEGet $1,000 off an annual subscription to our DDA+ or 40% off an annual membership. Complete details and checkout at our website link below:https://www.eurodollar.university/holiday-offer---------------------------------------------------------------------------------WSJ The Private-Credit Party Turns Ugly for Individual Investorshttps://www.wsj.com/finance/investing/the-private-credit-party-turns-ugly-for-individual-investors-287356f9https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

US GDP utterly crushed it in Q3 and that was following Q2 when output supposedly was well more than expected, so two quarters in a row of booming numbers. So why isn’t anyone buying it? To begin with, just look at gold and silver. Safe haven buying is literally off the charts. Bond yields didn’t react at all. And consumer confidence keeps falling deeper into recession territory.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Back in October, foreigners sold a massive $61.2 billion in LT UST assets, the most since April. While that may sound like the “sell America” and Treasury rejection narrative from the summer, it’s actually proof that the Fed’s bank reserves are irrelevant. Remember October? Repo rates soaring. Use of the Fed’s repo facility skyrocketed. Cockroaches and garbage lending. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU