Newsletter

Gold >US$3,000/oz t. Money flowing out of the US. Trump tariffs are still low. Young pessimism. Currency risk is real.

AI needs a lot of energy. Intra-day tariff, ever heard about it?. China builds >50% of ships. Private capital – low risk, high return. It’s different this time.

This trade war has happened before. People who start wars don’t fight them. EU is beating the US. Push for lower oil prices may backfire. US Tech at 60x CAPE.

Trump to slap EU with tariffs. EU nuclear support rises. Higher US inflation expectations. Deficit drives GDP. US ceasing to be a great power.

A looming Japanese debt crisis. US stocks at record outperformance. Stagflation fears rising. High margin for gold miners. There is no green energy.

The original mission of USAID failed. The RRP is down US$2.5trn. Central bank loads up on gold. 4 ways to increase value. We live in an incredible world.

The Trump thump. Just another crypto crash. Got gold?. The bookstore renaissance. Nuclear power is booming in China.

DeepSeek rattles markets. Manufacturing to stay in China. BoJ raises 0.25%. EU banks beat US Tech. We’ve passed peak air pollution.

AI to replace investment bankers. Worst US bond bear market ever. Everyone is bearish on China. Only 29% of S&P 500 companies outperformed. The Trumps launch shitcoins.

US budget deficit up 39%. Number goes up. Hard for the US to stay decoupled. Treasuries instead of real estate. Indian Rupee hits ATL.