It’s the End of the World as We Know It
September 2026
With the U.S. debt exceeding $40 trillion and the debasement trade in full swing, we take stock of whether Bitcoin has earned its place as a hedge alongside gold.
Soundings
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Commodities & Real Assets
- All Posts
- AI
- Alternative Investments
- Commodities & Real Assets
- Crypto
- Equities
- Fed Policy
- Fixed Income
- Gold
- Growth
- Hedge Funds
- Impact
- Inflation
- Investing
- IPOs
- Macroeconomics
- Market Commentary
- Market Concentration
- Market Conditions
- Oil Prices
- Private Credit
- Private Equity
- Tide Cycle Updates
- U.S. Dollar
Hold Me Now
August 2026
Every road this week led back to the bond market — rates climbing, the Fed quiet, the Treasury leaning on buybacks, and gold, crypto, and the dollar all telling on the debasement trade. Should you still own bonds? Do you need inflation protection?
Passing the Puck
August 2026
Volatility Shares files for ETFs tied to NHL team performance via a new CME index — a lighter-hearted test of how far the SEC's appetite for "novel" products will stretch.
Passing the Test
August 2026
Truth Social's new pay-per-month API gives high-frequency traders early access to Trump's posts, raising fresh insider-trading questions as the SEC weighs a wave of "novel" prediction-market ETFs.
Planes, Trains and Automobiles
May 2026
The Iran war exposes a hidden fuel divide — and an airline goes under as a result.
Liquidity
April 2026
Gold's sharp sell-off reveals an underappreciated truth: liquidity is only valued once it's scarce.
Gold Math
February 2026
Gold's best month in 40 years ends in a sharp reversal. What investors do next depends on why they bought it.
Uncorrelated
January 2026
Gold's best month in 40 years ends in a sharp reversal. What investors do next depends on why they bought it.
Woe is Me
January 2026
Skipping the annual list of risks for something rarer: real reasons for optimism heading into the new year.
What happens after a national mid-life crisis?
September 2025
If the U.S. matures like Europe or Japan, here's what a 50-year portfolio might hold.