Sicilian Treats

The largest island in the Med is well worth the journey. [The Rude Awakening] July 06, 2023 [WEBSITE]( | [UNSUBSCRIBE]( Sicilian Treats - Sicily is the Mediterranean’s largest island. - The cuisine is impressive by any standard… but even by Italian standards! - The cities are replete with history, architecture, and art. [Breaking: Did Biden Really Blow Up Nord Stream?!]( [Click here to learn more]( New evidence has just been released the all but PROVES a shocking truth… President Biden gave the green light to blow up Russia’s Nord Stream Pipeline! According to [this shocking new expose]( Crippling fuel shortages… widespread “Biden blackouts”… and energy bills rocketing to $1000… Are about to hit American shores as a result. [Click here to learn the TRUTH about Nord Stream and how it will impact YOU](. [Click Here To Learn More]( [Sean Ring] SEAN RING Happy Thursday from the north coast of Sicily. It’s incredible, but we’ve barely explored this island. We landed in Palermo, drove the distance to Pollina, and took a day trip to Cefalu. But it was enough for us to fall in love. Sometimes I wonder what I was doing when I lived in London. Then I remember I spent all my time in the pubs. But I’m still amazed at the places I didn’t travel to while I lived there. Sicily is one of those places. It’s only a 3-hour flight from London, yet I have never visited before this trip. And, as I said, we haven’t seen much of it. [The Rude Awakening] That’s it. What’s impressive is that about a dozen civilizations have conquered Sicily. That’s why it’s such a hodgepodge of cultures. From Norman to Arab to Spanish to Italian, to name a few, Sicily combines all these disparate cultures to make a unique amalgamation. But in this edition of the Rude, I’ll take you on a small excursion on the northern coast of Sicilia… Palermo Palermo is the capital of Sicily and its largest city. It’s also a dirty city. Yes, it’s charming as hell, but it isn’t Singapore-clean. That’s for sure! We didn’t mind, as we went on a day trip to see most of the monuments, markets, and churches. I’ll take you on the quick tour we took. Here’s a map to help out: [The Rude Awakening] A. Teatro Massimo This is an amazingly cool building. We didn’t get to go inside, but the outside was good enough. Construction started on 12 January 1874, but was stopped for eight years from 1882 until 1890. Finally, on 16 May 1897, twenty-two years after laying the foundation stone, the fourth largest opera house in Europe at the time was inaugurated with a performance of Verdi's Falstaff, conducted by Leopoldo Mugnone. [The Rude Awakening] B. Chiesa di Sant’Agostino Yet another beautiful church (chiesa in Italian) named after the Saint Augustine of Hippo. “Give me chastity and constancy, but not yet,” the dirty old saint was reputed to have asked of God. [The Rude Awakening] Credit: Sean Ring C. Chiesa del Santissimo Salvatore The Church of Most Holy Saviour is a Baroque-style Roman Catholic church located on Via Vittorio Emanuele in the ancient quarter of the Albergaria. [The Rude Awakening] Credit: [Wikipedia]( (sorry, I forgot to take a pic there!) D. Cathedral of Palermo The big one in Palermo, it was originally built in 1185. [The Rude Awakening] Credit: Sean Ring [Warning: Will “Bidenflation” Destroy Your Retirement?]( [Click here to learn more]( If you’re like most Americans, you’ve worked hard for decades to build your financial legacy. And now, as a result of Biden’s disastrous money printing policies, that’s all at risk. According to one top retirement expert, “Bidenflation” threatens to destroy your retirement and make your hard-earned savings worthless. That’s why you must take action right away to protect yourself… [Click here now to get the simple, step-by-step actions to survive “Bidenflation.”]( [Click Here To Learn More]( E. Mercato di Ballaro A great food market. I enjoyed the best caponata and frutti di mare I’ve tasted. (Ok, my mother still makes better caponata. But she’s the only one. And it was my grandmother’s recipe.) [The Rude Awakening] Fruitti di Mare, Caponata, and the obligatory bottles of Messina; Credit: Sean Ring F. Quattro Canti The “Four Corners” is where Palermo’s main sections meet. [The Rude Awakening] Credit: [The Journal of Sicily]( G. Mercato della Vucciria La Vucciria is an ancient, large market or bazaar area and neighborhood, with shops and tables selling products, produce, and foodstuffs in the ancient quarter of Castellammare of central Palermo. [The Rude Awakening] Credit: [foodism.co.uk]( That’s the tour. Amazing. But before I go, this may be the best thing I’ve ever tasted: chocolate cannolo (cannoli is plural, you Sopranos fans out there!) [The Rude Awakening] Pollina Pollina is where our resort is located. It’s a kid-friendly place, so not really for honeymooners and such. But it’s located on a promontory with great views of Cefalu’s Rock. It’s got nice amenities, but it’s not a five-star resort. Micah loves it because the pools are shallow, though he nearly drowned himself by jumping in the wrong end. Yes, Dad came to the rescue, shirt on and all. Of course, they should’ve named the kiddie pool “Golden Pond” for obvious reasons. Here’s a picture of some severely underrated Sicilian wine from our clifftop restaurant: [The Rude Awakening] Credit: Sean Ring Cefalu Now this place blew me away. Not only is it a fantastic seaside town full of history, but it’s where one of my favorite buildings on earth is. [The Rude Awakening] The Duomo di Cefalu with the Rock of Cefalu behind it; Credit: Sean Ring Roger II started building the Duomo di Cefalu after he was shipwrecked on the Cefalu coast during a horrific storm. It looks like a castle and a cathedral smashed together. The cathedral was built to serve as an exquisite place of worship and a symbol of the Norman kingdom's power and prestige. It was designed by skilled Byzantine and Arab craftsmen, blending elements of Romanesque, Byzantine, and Islamic architectural styles. Its exterior is characterized by its imposing fortress-like appearance, sturdy stone walls and two soaring towers. The main entrance showcases a beautiful Byzantine-style bronze door adorned with intricate reliefs depicting biblical scenes and figures. Inside the cathedral lies a stunning interior adorned with exquisite mosaics. The central apse houses a giant mosaic of Christ Pantocrator, displaying a majestic and serene image of Jesus with outstretched arms. The walls and ceilings are adorned with vibrant biblical scenes, saints, and ornate geometric patterns, all crafted with meticulous attention to detail. One notable feature of the cathedral is the inclusion of Arabic inscriptions in the mosaics, reflecting the multicultural influences of the time. This blending of artistic traditions is a testament to the harmonious coexistence of different cultures in medieval Sicily. The Duomo di Cefalù has undergone various modifications and restorations throughout its history. Earthquakes in the 16th and 17th centuries caused damage to the structure, leading to subsequent repairs and alterations. Despite these changes, the cathedral retains its unique character and architectural significance. Today, the Duomo di Cefalù is a UNESCO World Heritage site and remains an important religious and cultural landmark in Sicily. Wrap Up I hope you enjoyed the mini-tour around northern Sicily. As we leave tonight, I’ll be writing tomorrow’s piece from Asti. If you have any questions about the trip, write me at feedback@rudeawakening.info. Have a great day! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( In Case You Missed It… June 2023: Monthly Asset Class Report [Sean Ring] SEAN RING Happy Hump Day from sunny Sicily! I’m sunburnt to a crisp, so I’m thrilled to be inside putting this together for you. I hope you enjoyed July 4th weekend. As for me, Pam and I celebrated our 12th wedding anniversary on the 3rd. I like to call it “Dependence Day.” I’ll tell you more about Sicily in tomorrow’s Rude. But let’s start the month off with business. In this Monthly Asset Class Report, you’ll see many of the things I wrote about last month came true. Jay Powell’s skip did indeed cause a massive rally in the SPX. The Nazzie’s was already well underway and is continuing apace. We can add the Russell, which has seen the small caps join the big caps in this rally. The crypto space performed well in June as well. Bitcoin was up, but Bitcoin Cash, another currency “forked” from the original, was up 168%. Bonds were flat-to-down, while real estate was slightly up. Through all this, the USD was down 0.88%. This isn’t surprising, given Powell’s actions. But if Powell starts to hike again soon, we’ll see the USD tag along with it. That will spell disaster for anything priced in USD (almost everything). Finally, gold and silver continue to disappoint, though I hold out hope. Now, let’s get to the charts. S&P 500 [SJN] From last month: The Nasdaq’s rising tide is lifting all boats. Though this chart shows us ending below 4,200, we’re now well above that level. If the Fed pauses this month, the next stop is 4,450. The Fed skipped, and we landed at 4,450. What a call! Now let’s see if we go to 4,650. Nasdaq Composite [SJN] I’m convinced it’s 1999 all over again. Another big rally last month. Next stop: 14,500 to 14,750. Russell 2000 (Small caps) [SJN] We may be seeing small-cap participation. The Russell had a good month. I’d like to see a more sustained rally. Above 197.50, and you can be unabashedly bullish. The US 10-Year Yield [SJN] We rose another twenty bps (0.20%) since our last asset class report. My comment from three months ago remains: This is because the market thinks the Fed is done hiking and will cut soon. I don’t think the Fed is done hiking, nor do I think it’ll cut soon after. There will be a decent interval between the end of the hikes and the beginning of the cuts. So I think we’re going up from here, though the entire market disagrees with me. Dollar Index [SJN] From last month: A pause will send the dollar down… temporarily. Indeed, that happened. But when Chairman Pow starts hiking again, we’ll see the dollar rally. And that’s bad news for everything priced in dollars. USG Bonds [SJN] TLT didn’t move in the last month. I’m getting more bearish by the day, as I wait for Powell’s new set of rate hikes. Investment Grade Bonds [SJN] Same story here. Looking for a nosedive to 97 once rate hikes resume. High Yield Bonds [SJN] Rangebound, but with a downside bias. That’s thanks to Jay Powell, again. We can easily see 68 once the hikes resume. Real Estate [SJN] I thought we’d be down here, but June proved a bull month for real estate. Not sure what happened in that last week, it may be short-lived with more rate hikes coming through. [Urgent Notice From Paradigm CIO Zach Scheidt!]( [Click here to learn more]( Hi, Zach Scheidt here… I’m the Chief Income Officer at Paradigm Press. With inflation raging (and showing no signs of coming to an end any time soon), almost everyone in America is feeling the pain in a big way. Which is why, several months ago, I set out on a big mission… my goal was to create a [complete, step-by-step plan to surviving and beating inflation]( one that anyone could take advantage of. Today, after hundreds of hours of research, I’m revealing all of my findings. [Simply click here now to see how to survive America’s deadly inflation crisis](. [Click Here To Learn More]( Base Metals: Copper [SJN] We haven’t gone below 3.60 yet, but the price action isn’t bullish. I think it’s only a matter of time. As copper is an indicator of the world economy, I’d say things aren’t looking that great. Precious Metals: Gold [SJN] Very disappointed with gold’s performance right now. I was hoping we’d hover around $2,000, allowing it to form a base here. But that’s not the case. Gold may rally from here, if only to take a break from falling. If we rally, we head back to $2,000. If not, look to $1,820. Precious Metals: Silver [SJN] We’re down $0.50 this month. The chart is unclear on the direction at the moment. I’m hoping we get some upside here. Cryptos: Bitcoin [SJN] BTC jumped to over $30,000 this month. My $42,000 target is still live. The crypto space is looking healthier than it has in years. Cryptos: Ether [SJN] From three months ago: A good chart, but not as good as Bitcoin’s. I want to see a sustained move above $2,000 before I get excited about ETH. We’re almost at that $2,000 point. After that, target $3,000. Trad Asset Class Summary [SJN] The SPX was up hard, notching a 5.43% gain in June. Commodities were also up nearly 2%. The dollar fell nearly 1%, while bonds were down 1.32%. Crypto Class Summary [SJN] Bitcoin Cash - different from the original Bitcoin - was up 168% -[apparently on the back of some wild South Korean volume](. Most of the crypto space was up in June, save for Ripple and Dogecoin, Elon Musk’s favorite. Wrap Up Last month, I wrote this, and it still applies: Again, if Jay Powell pauses, we’ll have a huge rally because the market will mistake that for a pivot. And then he’ll rise rates some more before he breaks something. And then, after much pain, he’ll cut. In the meantime, enjoy the rally. Finally, let’s take a moment to enjoy this most excellent meme, courtesy of the Twitterverse: [SJN] Have a great day! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. 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