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October 2026
In August, we laid out the pressures weighing on the dollar: inflation running above target, skepticism about policy, widening deficits, and a record pace of Treasury issuance. None of that has gone away. And yet the greenback is up this year. The reason may have less to do with American strength than with how the rest of the developed world looks by comparison.
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.
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?
March 2026
Markets shrug off a shocking escalation in the Middle East, closing higher within hours.
February 2026
Gold's best month in 40 years ends in a sharp reversal. What investors do next depends on why they bought it.