The US government cannot service its debt without the Fed monetizing bonds. That is not a prediction. That is arithmetic.

Everyone asks when the dollar will crash. The better question is when will the Fed have to choose between saving bonds and saving the dollar.

Central banks are buying more gold than at any time in 50 years. They are telling you something. Listen.

I sell research not products. I have nothing to promote except clear thinking. That is my competitive advantage.

The forest for the trees. That is the name of my firm and my entire investment philosophy. Zoom out.

Fiscal dominance is here. The Fed is no longer independent. It cannot raise rates enough to kill inflation without killing the Treasury market.