KEPM

KEPM Precious metals involve risk of loss and are not suitable for everyone. Views expressed are opinions only and do not constitute financial advice.

Past performance is not indicative of future results.

08/31/2026

The gold to S&P 500 ratio has been compressing for years, and this is the chart I keep coming back to.

My read is that a break above that long-standing trend line would mark a real change in how the market weighs stocks against metals. I break this trend down with Flyover Conservatives

Central banks are not fast movers. They rebalance over years, not news cycles.In July 2026, the People's Bank of China a...
08/28/2026

Central banks are not fast movers. They rebalance over years, not news cycles.

In July 2026, the People's Bank of China added 20 tonnes of gold to its reserves. That is its largest monthly addition since October 2023, and the 21st month in a row.

It is worth understanding what a buyer of that size is doing, and why. If you want to talk it through, our team is here.

08/27/2026

The standing assumption was that high interest rates and inflation would keep gold and silver flat.

As of late August 2026, silver is up close to 20% in a little over a month and gold is up roughly 13% since mid-July. That correction ran its course with those same conditions still in place. Supply and demand is what sets a price, and that has not changed.

08/21/2026

When debt to GDP crosses 100%, a country owes more than it produces in a year. The United States is past that line as of 2026.

The debt service on it now runs over a trillion dollars a year. Much of that debt was issued at rates under 3%, and as it rolls over at today's higher rates, the cost climbs. I spoke on this with And We Know 👇

08/19/2026

A currency without tangible backing is relying on the world's willingness to keep accepting its paper.

The federal debt is approaching $40 trillion, and it was only ever possible because the rest of the world needed our currency. I believe the US dollar could get stress tested at the end of this year, when roughly $9 trillion of it comes due and has to be refinanced at rates well above what it was issued at.

08/19/2026

Ray Dalio said publicly what a lot of his peers only say privately.

His view is that we're past the point where growth alone can outrun the debt payments. $7 trillion going out against $5 trillion coming in. This major subtraction problem is why I believe the days of fiat currency could be numbered and why central banks are allocating into gold by the tons. Flyover Conservatives

Still deciding between physical metals and the ETF? The difference is simpler than you might think. One tracks the metal...
08/16/2026

Still deciding between physical metals and the ETF? The difference is simpler than you might think.

One tracks the metal. The other is the metal: yours to hold and impossible to print.

08/12/2026

Scott Bessent directed a rare joint intervention to support the yen, partly to keep Japan from dumping US Treasuries and rattling our own bond market. That kind of move typically doesn't come without a cost. History shows that cost tends to be inflation. That's the kind of backdrop where gold and silver tend to get more attention. And We Know

08/11/2026

A cap on how much money you're allowed to keep. A timer on how long a business can hold it.

That's the shape of the digital euro reportedly advancing through European lawmakers, with a proposed 3,500 euro personal limit and a 24 hour rule for business cash balances. I believe this could be the first step towards CBDC and this type of move is worth understanding now while it's still just a proposal. Flyover Conservatives

08/04/2026

When central banks change what they hold, it eventually shapes what everyday savers should be thinking about too.

Gold purchases among major central banks picked up sharply in the second quarter of this year after a slower start. I think history is clear on this: institutions tend to lean harder into gold when confidence in existing currency arrangements gets tested.

Address

Denver, CO

Telephone

+17206053900

Website

Alerts

Be the first to know and let us send you an email when KEPM posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to KEPM:

Shortcuts

Featured

Share

Category