Gold is Falling. Oil is Exploding. And the Fed is Trapped.

#finance
#financement

We cover:
Why the oil shock is being read as an inflation shock, not a safe-haven event
Kevin Warsh's Jackson Hole position and the choice facing the Federal Reserve
The two rates in conflict: the Fed funds rate and the market-set 10-year Treasury yield
$40 trillion in federal debt, Treasury buybacks, and pressure at the long end
If Warsh holds the credibility problem. If Warsh hikes the stagflation trap
The three paths ahead, plus the signals we are watching: the 10-year yield, the dollar, oil, real yields, and the gold-silver ratio