' Gold Re-Monetization Is Much Closer Than Many Realize ', page-184

Another week of strong bank data. Can't get bearish when I see this.

Bank credit up $37 bln to new high. 2-week increase of $80 bln. Growth rate 3.7% y-o-y, fastest in 3 months.

Loans and Leases, up $26.3 bln to a new high. 2-week increase of $44 bln. Growth rate, 4.6% fastest in 2 months.

Within loans and leases: Real estate loans up $5 bln to new high. Residential real estate loans up, $4.5 bln. Growth rate 1.5%, fastest in 3 weeks.

Commercial and industrial loans, up $11.2 bln to a new high. Eighth consecutive weekly increase. Growth rate 7.7% y-o--y, fastest in over 2 years.

Consumer loans, up $1.7 bln to a new high.
Auto loans, $422.5. Third consecutive weekly increase.

Bank deposits, up $25.5 bln. 2-week increase, $52.4 bln. Growth rate up to 2.7% y-o-y, fastest in 4 weeks.

Everything is ramping up. Maybe Fed efforts to drain reserves (now at $1.7T) is finally starting to have an effect. But must go lower.