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PANDORA’S BOX
EVERYTHING GOT OUT. THE HOPE IS AT THE BOTTOM.
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THE ONE-WAY DOOR
On Wednesday The Treasury Buys Its Own Bonds
From September 9 the Treasury at least doubles what it buys in the ten to thirty year sector. The schedule runs to November 4.
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Wednesday morning the Treasury places a bid. It bids on its own long dated debt, the ten to thirty year sector. Each operation is set at four billion dollars or more.
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The reason sits at the far end of the curve. The ten year pays near 4.8 percent. The thirty year pays near 5.2 percent.
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Those are the rates the government has to live with on every new bond it sells. So it is buying some of the old ones back.
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$4bn
MINIMUM SIZE PER OPERATION FROM SEPTEMBER 9
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Operations in that sector ran about half this size before. A standing buyer changes how every new thirty year bond gets priced. |
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FROM OUTSIDE THE BOX
We believe Executive Order 14241 has unleashed a potentially huge change to America’s money.
Republican or Democrat, whether you support or oppose Trump’s New Dollar, you could soon be using it. If you have savings in the bank or a stock portfolio, we believe you need to understand what’s unfolding, and take specific action to prepare.
In Porter Stansberry’s new documentary, you’ll discover:
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How the last time America reset its money, it minted 1,300 new millionaires a day, and why we believe what’s coming could be bigger still. |
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The 5 assets to own before America’s new money rolls out, including the one Porter would buy today for immediate exposure. |
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The critical resources Trump is moving heaven and earth to control, because America’s new money depends on it. |
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Why the U.S. government is suddenly buying ownership stakes in tiny American mining companies, a move not seen since the depths of World War II. |
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Why a single gathering of world leaders this December, at Trump’s own Miami resort, could be the moment America’s new dollar is revealed to the world as a done deal. |
Many thanks,
Jared Kelly, CEO, Porter & Co.
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1971 closed the gold window. 2026 opens the buyback window.
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Once the government is a standing buyer of its own long debt, the market never fully prices it without one again.
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The saver never sees the operation itself. He sees the bond fund inside his retirement account. The yield printed next to it is the part that moves.
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Nothing here needs a forecast. The size and the dates are already published.
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EVERY LEAD PASSES BEFORE IT RUNS
The One-Way-Door Test
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Can it be undone?
An operation can be cancelled. The bonds it retires do not come back.
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Who is already repositioning?
The Treasury named the sizes and the dates itself. A well known investor called it money printing, in the Journal.
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What does being late cost?
The first operation is Wednesday, CPI Friday, the Fed on September 16.
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THE MOVE · WHILE THERE IS STILL TIME
Open your 401k and find the duration on your bond fund.
Duration tells you how much of your money rides on the long end. If the thirty year climbs through these operations, the buying is too small to matter. |
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ALSO GOT LOOSE TODAY
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Futures lean near 57 to 60 percent toward a rate hike on September 16. The Fed itself is split in public. |
MONEY |
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Tankers were hit in the Strait of Hormuz as the strikes resumed. Brent finished the week near 96 dollars, up about 9 percent. |
WARS |
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Oracle reports Thursday after the close, with its data center debt in question. |
MACHINES |
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SOURCES · U.S. TREASURY BUYBACK OPERATION SCHEDULE · CME FEDWATCH FUTURES PRICING · ICE BRENT SETTLEMENT, SEPT 4 2026
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WHAT’S LEFT AT THE BOTTOM
The desks are shut today, so you have two days before the first operation. Looking up one number costs nothing. WE WATCH THE BOX.
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