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

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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.

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

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

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

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