this explains everything and why yields are not impacting POG as...

this explains everything and why yields are not impacting POG as much as they used to. US ran around $500B deficit last quarter and looks like this quarter will be around $600B. They accelerate printing and by end of the year interest on this debt will be their biggest expenditure. This is scary and if they don't change POG will break $3k in 12 months from here.
Current CPI calls for another rate hike but they can't do it as the FED knows that will break the markets as lot of small banks will default, commercial real estate will collapse and trigger many zombie companies to go bust and shut doors. At same time the accelerated debt issuance is pushing inflation higher. I still expect some small banks to start to fall this year - especially if the FED can't cut couple of times.

gold should already be well above $2500usd but that's a story reserved for drink time..

https://www.zerohedge.com/markets/us-deficit-tops-11-trillion-first-six-months-fiscal-2024-spending-hits-2024-high