deep dive
▫️ Half of All Silver Is Now Bought by Factories, Not Investors.
Solar panels, electronics, and EVs now consume nearly half the silver mined, and supply cannot keep pace.
Latest
deep dive
▫️ America Hasn't Built a Major Refinery Since 1977. That's the Point.
Replacement cost is the price to rebuild an asset today, and for real things it keeps climbing fast.
deep dive
▫️ Why Owning Beats Earning in a World Awash in New Money.
Asset prices have outrun wages for two decades, and the gap compounds faster every year money expands.
weekly review
▪️ The Dollar Hit a 13-Month High. Your Whole Portfolio Just Repriced.
A move this big in the dollar resets the price of gold, stocks, and everything you hold.
deep dive
▫️ One Signature in Washington Can Reprice the Whole Market.
Federal contracts and regulation now move markets more than earnings; we explain how to see it coming.
▫️ What Happens When an IPO's Lock-Up Finally Expires.
Founders and early backers are locked in for months after an IPO; what they do next is the real signal.
▫️ Ten Stocks Now Make Up a Third of the S&P 500.
The top ten names are near double their historic weight, and most index owners have no idea.
▫️ The Debt Crossed $36 Trillion. Nobody Plans to Stop.
Federal debt has passed $36 trillion, and the yearly gap no longer waits for a recession to appear.
deep dive
▫️ One Strait Moves a Fifth of the World's Oil. Here's Why.
From Hormuz to rare-earth plants, a handful of passages now sit between what the world makes and what you pay.
deep dive
▫️ How China built a 90% chokehold on rare earth refining
Mining new deposits takes years. Building a working refinery takes a decade. The math favors whoever already owns one.
deep dive
▫️ Why Tesla's 70% surge in 2020 had nothing to do with cars
Tariffs, sanctions, strategic reserve actions: executive orders now move the S&P faster than any Fed decision. The transmission speed has changed.
weekly review
▪️ Inflation Just Broke 4%. Markets Still Rallied on the SpaceX Debut.
SpaceX opened at $150, closed at $161, raised $75 billion. The largest IPO in history landed at a $2.1 trillion market cap.