Under the mattress, and sometimes under large rocks or ninja statues.

(Nothing special – just normal savings/bank accounts. Maybe I’ll switch to short-term UST if rates rise a little more.)

That is true, but governments could be doing a lot more than “nothing at all” AKA going to OPEC to beg them to produce more. Even an announcement of additional refinery capacity or drilling, leases, etc., would relieve pressure a bit. I try not to be conspiratorial, but it really seems like the strategy is “Push everyone into a recession to reduce energy/food demand.”

Thank you Brian!

Thanks! The ECB is even more trapped than other central banks because a monetary union without a fiscal union doesn’t make much sense, as they are now finding out.

I think they’re going to have let inflation run without raising rates unless it gets to ridiculous levels and/or the Euro starts crashing against the USD more than it already has. And with weaker economies in Europe, the energy crisis, food shortages/protests now taking place, etc., this is not a good sign.

Any thoughts on the ECB closing the spreads of Greek and Italian bonds due to intensified worries over the countries’ debt levels?