Silver Slapped, Markets Waffle, and “Priet” Before Prime Rib

The first big financial story today is about how precious metals got a solid beat-down on the Futures market ahead of the open.  Despite the claims of some on YouTube (cited in our unusual Sunday report), in economics life is always about The Counter-Argument.

You don’t find out before The End – and usually that’s too late to make a buck.

Sunday, the basic vibe claimed “JP Morgan has been slamming down silver for years but now have gone long ahead of Chinese silver restrictions at New Years.”

This morning, the Bigs are trying to bottle up the PMs again:  Gold was down more than $94, silver had been whacked $2.24 and platinum was briefly showing down $156, which is a fall of more than 6 percent.

So, what’s going on?  Well…you got me. Far above my pay grade – and yours, too.

Thing is, the financial sorts don’t like airing too much of their dirty laundry in public but with the stock prices flat to a touch down ahead of this morning’s trade report (and Housing tomorrow, don’t forget), the real story of inflation and how a possible “hyperinflating away the National Debt” problem remains cloaked in mystery.

My sense (and this ain’t advice)?  I think the Bigs have run down silver to sucker in the shorts so they can get long themselves.  But that’s just a “you know what” and everyone has one of them… To us, betting on prices going down while the nation’s on the verge of hyperinflation, just doesn’t make sense.

Reminder: The Case-Shiller Housing number is the 900-pound gorilla – and that’s tomorrow.

Teletypes and RSS Feeds:

Come on, pal!  Surely you didn’t expect the Reign of a Thousand Year Peace to break out this weekend, did you?  Pah-leeze!

Serial Ukraine Meetings haven’t hatched a breakthrough, yet.  But everyone wants to be involved:  US and Ukraine ‘a lot closer’ on peace deal, Trump says after meeting with Zelensky. Leaving the Z-man to roll switch Zelenskyy says Ukraine wants 30-50-year security guarantees from US, And Europe, quickly fading from international “mattering” elbows in, too:  European leaders join Trump-Zelenskyy peace talks as land disputes linger.  This last, is a bit hard to read: For their economy, Europe needs a war.  For their urban survival, they don’t.  Anyone having fun, yet?  For now, no deals.

Next War Ponder is Iran.  But  you can’t talk Iran, unless you talk Gaza.  So… (at least officially): Netanyahu and Trump to meet in Florida to discuss second phase of Gaza ceasefire.  But the real problem isn’t Gaza anymore:  It’s what to do about Iran funding attacks on Israel.  Oh, and upping arms:  Iran develops unconventional missile warheads with chemical and biological payloads.

We have told you for a long time that we suspect Iran’s nuclear program was not completely destroyed as the “narratives” suggested.  And we expect that Iran would place its program in (or directly adjacent) to big population centers on a “human shields” play.  Which may explain  why Iran is now saying it won’t be held to the 2016 Joint Comprehensive Plan of Action (JCPOA) which set up inspections.  Essentially telling the U.N. to take a hike as Tehran rejects Guterres report as ‘baseless’.

If this looks like a witches brew fraught with danger? Good call!  Iran Rejects Inspection Calls Before IAEA Clarifies Stance on Attacks on Nuclear Sites. Iran’s building bio-weapons by their own admission and now telling the world, in so many words, that the UN and Resolution 2231 be damned, they’re up-arming for another attempt on Israel.

The War for Space and Dial Tones

With all this talk about war, we have to wonder about the defense aspects of, oh, Starlink and maybe Jeff Bezos’ Blue Origin?  Blue Origin hires ULA CEO Tory Bruno for national security unit. Hmm… Leaves us wondering which Big U.S. Defense company will make Bezos an “offer he can’t refuse?  Let’s pencil this out, remembering Blue Origin is a) close to Bezos’ heart but b) everyone needs an exit strategy.  So  who might be big enough?

Tier 1: Fully Capable, Plausible Buyers

1. Lockheed Martin   *Market cap: ~$110B

• Deep DoD + space dominance (missiles, satellites, hypersonics)
• Strong incentive: reusable launch + cislunar logistics
• Cultural issue: Blue Origin’s slow cadence clashes with Lockheed’s risk posture

2. Northrop Grumman *Market cap: ~$70B

• Already builds solid rocket motors, nuclear command infrastructure
• Strategic fit: launch + national security payloads
• Most quietly plausible acquirer

3. RTX *Market cap: ~$150B

• Cash flow monster, deep Pentagon trust
• Less launch-centric, but strong space systems + sensors
• Would likely prefer a JV or minority stake, not full ownership

Tier 2: Capable but Strategically Awkward

4. Boeing  *Market cap: much lower than historic norms – but who knows now?

• Already tangled with Starliner and NASA credibility issues
• DOJ, FAA, and cultural problems make this unlikely
• Politically sensitive consolidation risk

5. General Dynamics  *Strong balance sheet

• Focused on submarines, armor, IT
• Weak space DNA ? poor cultural match

Tier 3: Financially Capable but Politically Implausible

6. L3Harris

• Strong electronics + space payloads
• Too small for full acquisition
• Possible asset buyer only

Why SpaceX Is Not a Buyer

• Direct competitor
• National security conflict
• Antitrust nightmare
• Elon–Bezos rivalry makes it impossible

We just love to sit around Monday and speculate on who’s going to make a run at whom…

Now let’s switch to “Dial Tones in Space”   Seems there are plans afoot for SpaceX and others to launch their own global cell phone services. Which reminds us the ATT/Lumen deal should close shortly.  We trust you remember that AT&T announced back in May it was acquiring Lumen Technologies’ (formerly CenturyLink) mass-market fiber business for $5.75 billion. In play are roughly 1 million customers and significant fiber assets in 11 states, with completion pending regulatory approval.  So, squinting just so, you can see the “air game” and the “ground games” shaping up in cellular football.

The end of copper in the ground? Well, that’s out there and maybe that figures in copper futures down today – can’t really say.

Around the Ranch: Prime (Rib) Time

We’re going to do our best to “live like we’re rich in ’26.”  And nothing better marks an occasion than a kick-ass meal.  Super protein and missing carbs.  Paleo to the max.

Sunday around here, we often get into foodery. Instead, though, a sideways into time, math, and why humans insist on arguing with inanimate objects like ovens and calendars.

Somewhere between talk of (flake or rock) salt (dry brining) and New Year’s logistics, I realized I hadn’t actually looked at the label in a few days. So I did. Seven point five six pounds. Not an estimate. Not a “looks about right.” Seven point five six, printed in ink, bold as a sermon.  Might hold the two of us and provide leftover Stroganoff.

A roast that size is not impressed by urgency. It does not care that it’s New Year’s Eve or New Year’s Day. It does not respond well to panic, optimism, or last-minute “we’ll just see how it goes.” Seven and a half pounds of prime rib wants time. Preferably a lot of it. Preferably starting the day before, when the salt goes on and everyone stops interfering.

Meat physics is our special study now: Cold beef into a hot oven is how you get gray rings, disappointed Elaine saying “next year let’s do ham” in a tone that suggests utter science failure on my part.

The beauty of a seven-and-a-half-pound roast is that it sits right in the Goldilocks zone. Big enough to forgive you. Small enough not to punish you. You can slow roast it. You can reverse sear it. You can finish early and let it rest while far too much wine is consumed.

I should have gotten it from freezer to fridge on Sunday. But Monday is when I remembered.  The roast? It only cares about temperature, salt, and patience. Three things my “mirror guy” routinely under-allocates.

There’s a lesson hiding here, which is why this is a ranch sermon instead of a recipe. Labels matter. Numbers matter. When you know the real size of the thing you’re dealing with, decisions get easier . No, make that accurate. When you guess, you improvise. When you improvise, you invite chaos. Chaos is fun in novels. Less so in kitchens.

I’ve always had an uneasy relationship with time.  And Prime Rib is one of those areas. You can’t rush it. You can’t nag it. You mostly have to get out of its way and let time do what time does best.

4 1/2 to 5 1/2 hours at 230F with a quick flash at 500 for reverse sear? That should work.

Today I start my Priet.  (Pre-emptive Diet).  If – like us – you’re planning to start the New Year with a new and improved feed bag on, might want to give it a try – especially if you’ve been reading LOOB’s recipes in the Comments section of late. As your cari9dologist first, though.

Write when you get rich,

George@Ure.net