America Has Its First Pro-Crypto President. Ten steps up, half a step back. But damn, those half steps sure do cause a great deal of consternation, handwringing, finger-pointing, whining, and certainty that all is surely lost. You might have missed this last week… but Javier Milei, Argentina’s presidential bad-boy and enthusiastic champion of anarcho-capitalism, lent [Read More] …
Was I Wrong About Tariffs?
Is Trump a Mad Genius? I’ve been thinking a lot about Donald Trump’s tariffs recently… and I might be wrong about what I said before—i.e., that Trump’s tariffs would be inflationary. So keep reading. This is not an anti-Trump screed. This dispatch might be more like a mea culpa, or maybe more like half a [Read More] …
Only 1 Factor Drives Gold Higher…
Gold Is Up 9% in 2025 So Far, Stocks Only 2%. Another day, another record for gold prices. Just sitting here at my desk, whipping up a tweet to comment on gold relative to stocks and bonds, and I look at my trading screen and there’s gold, surpassing a new high above $2,940. Frankly, I [Read More] …
The 6 Cycles That Explain World History
America Is at a Dangerous Moment… Today… a word we don’t hear bandied about much around the water cooler, at cocktail parties, or out on the golf course. You don’t hear it much in the mainstream media either. Probably a reason for that. Our word of the day: Ochlocracy. Raise your hand if that’s a [Read More] …
What to Do When the Market Panics
Lemons, Chinese AI, and Market Selloffs… When the world hands you lemons… too many investors freak out and throw the lemons away. Others of us use that moment to buy more lemons… because we know they’re going to turn into lemonade. Case in point, the giant freak-out that roiled stock and crypto markets when a [Read More] …
