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IF confirmed and they were to agree on 'USDJPY' lower, a 7-10pct is necessary to make any real difference.. so watch out over next few days for ''confirmation'' Markets : JPY focus, intervention alert (you could easily argue that currently, the U.S Treasury is happy to drive USD down..JPY, KRW way oversold - Bessent talked about it last week), both currency and JGB's have been acting like an EMG basket case, because of government spending, seems they are backtracking ( Critical minerals are facing massive deficits over the next decade. - Copper: ~33% deficit - Lithium: ~38% deficit - Nickel: ~15% deficit - Cobalt: ~14% deficit (Thread), Bernstein predicts that copper shortage will start in 2027 and progressively deepen by 2050!, Trump is kind of ending 60+ years of American power/domination >>> HUGE week with FOMC on Wed, BoC and Riksbank meetings, EU-India summit in Dehli and Big Techs and Oil majors reporting, Commodities higher ( Brazil too cheap), Gold, Silver, commodities higher (FIAT collapsing..) and BONDS now falling, is NOT a good set-up for banks in 2026 Democrats threaten government shutdown after Minneapolis killing Germany and Europe have squandered their tremendous potential — Merz  In a fiery speech, Italian Prime Minister Giorgia Meloni delivered a brutal wake-up call that has EU elites panicking. "We either take our destiny into our own hands with vision and courage — or we will simply endure our own decline," Meloni stated VW is abandoning plans to build an Audi plant in the USA. At least until President Donald Trump reduces the burden of tariffs For the first time ever, the U.S. is spending more on interest payments ($1.20T) than on national defense ($1.16T) China’s military says top general undermined Xi Jinping’s authority . Zhang Youxia under investigation after affecting ‘party’s absolute leadership over military’, PLA’s official media claims Ten European nations agree to Hamburg Declaration. A North Sea offshore wind grid with 100GW capacity will be jointly constructed. Signing Monday. Will power 143 million homes France Has Taken The Captain Of A Russian Tanker Into Custody JPN folks changing their mood rather swiftly.. Japan PM's approval rating slips amid doubts over food tax cut: Nikkei poll. As election looms, more than half think lower tax won't help against inflation Nordic Pension Funds Rethink U.S. Investments Amid Rising Risks | Headlines Trump threatens Canada with 100% tariffs over new trade deal with China Japan PM Takaichi’s popularity slips on tax-cut pledge Snowstorm knocks out power and grounds US flights Absolutely out of this world shocking Trucks full of bodies: Iran may have slaughtered 30,000 protesters in 48-hour intense crackdown The World Economy Is Hooked on Government Debt - WSJ '''Debt will tear us apart...'''' Democrats threaten government shutdown after Minneapolis killing - The Business Times China’s military says top general undermined Xi Jinping’s authority There was a coup attempt in China yesterday, but Xi received intelligence two hours before the incident and has since arrested nearly 3,000 people, including military personnel and their families! Terry Moran 🇺🇸 on X: "Donald Trump and the End of American Power" / X Bessent's comments show importance of FX stability in US-South Korea cooperation, Seoul says Wall Street has fallen out of love with software stocks AI casualties... Jamie Dimon drops big hint on JPMorgan's future hiring in the coming years at Davos, Wall Street stalwart says 'you can’t lay off 2 million...' Jamie Dimon, hardly a socialist firebrand, openly called out the dysfunction at the heart of the global system. Not in activist language. Not in moral rhetoric. But in blunt, managerial terms. Dimon argued that targeted public spending, if directed straight to people who need it, would drive growth rather than drain it. He dismissed the obsession with deficit panic and even accepted that modest tax rises might be justified, if the money actually reached ordinary people instead of disappearing into Washington’s black hole. Minneapolis shooting raises odds of US government shutdown | International German Chancellor Merz admits: Both Germany and Europe have wasted incredible potential for growth in recent years by dragging their feet on reforms and by unnecessarily and excessively curtailing entrepreneurial freedom and personal responsibility. We must substantially reduce bureaucracy in Europe. The single market was once created to form the most competitive economic area in the world. Instead, we have become the world champion of overregulation. That has to end Tend to agree with this... but it could also turn into a 'sell america' story ( as seems to be the case recently..) Daniel Lacalle on X: "The world is not experiencing "dedollarization". It is living a de-fiat currency process, which is very different. Central banks are not selling Treasuries and buying euro or Chinese debt. They are buying gold and reducing ALL holdings of developed economies' sovereign debt, https://t.co/NzxUfdUKjz " / X Coin Bureau on X: "🚨CHINA DUMPS U.S. BONDS, DOUBLES DOWN ON GOLD China is rapidly cutting its U.S. Treasury holdings while aggressively increasing gold reserves, marking a sharp shift away from dollar exposure in its reserve strategy. https://t.co/6I7cNf30zL " / X Lukas Ekwueme on X: "Critical minerals are facing massive deficits over the next decade. - Copper: ~33% deficit - Lithium: ~38% deficit - Nickel: ~15% deficit - Cobalt: ~14% deficit These deficits aren’t theoretical....They’re the result of underinvestment, long lead times, and rising demand. This https://t.co/deNr8Syzzv " / X UK among 10 countries to build 100GW wind power grid in North Sea | Wind power | The Guardian France Has Taken The Captain Of A Russian Tanker Into Custody - Belarusian News - Charter'97

One of the many silly comments yesterday ... President Trump claimed that there are no wind farms in China >>> There are between 5-6000 wind farms in China (off and onshore), and they create some 40 % of the world’s wind electricity generation Markets : Surprised ?! not really, lots of barking from the Donald.....once UST's weaken and Trump feels many turning against him (incl some GOP members..) and EU, Canada, Danemark, India stood up to him.., he TACO's again, classic, looking back 130 years, this is the most overvalued stock market by any metric (chart available), #AUDUSD higher (breaking UP) as Oz employment falls to 4.1%, #GBP UK would be ‘crazy’ not to consider new EU customs union, says minister, #CHINA A shares breaking up!, Sweden's largest pension fund has sold $8,000,000,000+ worth of T-bills (that's a bit bigger !!!...) >>> risk does ok again, lower vols, until the next 'bark' from Trump, USD should soften gradually again, bonds prob recover a little, but the 'sell america' damage is done long-term... Geopolitics : Putin Offers Frozen Russian Assets in US to Peace Board, Ukraine Trade : EU-Mercosur Trade Deal delayed, EU lawmakers send Mercosur deal to top court, Western intelligence agencies report the first visible cracks in the Islamic Republic’s security forces. In recent days, several hundred officers have reportedly defected from the IRGC and the Basij 'AI models became suicide coaches,' Salesforce CEO Marc Benioff says, make it stop! Tesla dumping vehicles in France at loss making prices, firing 14% of German factory workers and heading to the worst January sales result in last years. Europe is not a market anymore for Tesla. People ignored the brand damage CEO caused until now, TSLA having an absolute shocker in europe ‘Let the People Decide’: Japan’s First Woman PM Sanae Takaichi Announces Parliament Dissolution Ahead Of Feb 8 Snap Polls NATO Chief says no discussion with Trump on Greenland sovereignty: ‘That issue did not come up’ Initial details on the Trump-Greenland deal have emerged: 1. Involves "small pockets of land" for the US 2. US involved in Greenland's mineral rights 3. Duration of the deal has an "indefinite" timeframe 4. Designed to block Russian influence in Greenland 5. US "Golden Dome" system will be involved 6. Opens door to US-backed infrastructure investment Trump is looking to secure land, minerals, and defense in one deal. Sweden's pension giant has liquidated the majority of its U.S. Treasury holdings. - Futubull Trump's push to fire the Fed's Lisa Cook gets cold Supreme Court hearing Iran offers first government-issued death toll from protest crackdown, one far lower than activists January 21, 2026 - Trump in Davos | CNN Politics So why the circus.. :-), just some big ego trip threatening everyone. .., so you can sound like THE big dude, and eventually TACO again.. nice Trump says he may be down to one candidate to head the Fed By Reuters EU lawmakers send Mercosur deal to top court | News.az UK would be ‘crazy’ not to consider new EU customs union, says minister Bank of America’s Brian Moynihan left off invite list for Trump reception at Davos Bank of America’s Brian Moynihan left off invite list for Trump reception at Davos. The snub is the second time the CEO has been excluded from an event with the president and hints at a deeper rift Howard Lutnick’s Davos speech ends in chaos after heckling and ‘walkouts’ | The Independent Howard Lutnick heckled at Davos dinner as Christine Lagarde walks out. Event hosted by Larry Fink descended into uproar after combative remarks by US commerce secretary Salesforce CEO Marc Benioff says AI chatbots 'became suicide coaches' Unemployment rate falls to 4.1% | Australian Bureau of Statistics Tesla Slumps in Europe, Norway Soars « Euro Weekly News

It's ALL happening in Davos !... next 48hours could be huge, Carney's speech in Davos is one for history ........and Europe won’t yield to 'bullies' Macron warns as Trump pushes Greenland claim, VdL was also pretty firm, Newson was telling everyone that there is NO diplomacy with Trump.. etc etc , Danish MEP was a little too direct but hey..>> are the all going to call Trump's bluff ?... Trump is destroying world order and giving enemies excuses to annex foreign land, if Greenland is important to the US, other will say that Crimea is equally important to Russia etc etc etc, will will give too many ideas to others... Markets : Will Europe call Donal's bluff.. FWIW.. this time I wouldn't underestimate Europe.., "EU-Inc" announced at Davos to simplify business across the European Union ( DO IT.. this would be huge, but do IT ! ).., FIRST EU pension fund 'dumping' UST's (small PF, but HUGE if others follow through their credit risk view) >>> been clear for while...the Global monetary order is breaking (why GOLD and precious metals, now commods are going through the roof!) , beware if some sort of 'boycott U.S products call makes traction'', including Treasuries, USD, MAG7 etc .. Geopolitics : Iran has conducted its first ICBM test, Cleaning up "AI workslop" is costing businesses hundreds of hours a week Danish pension fund AkademikerPension announces they will sell all US Treasuries by month-end, citing "rising credit risk" under President Trump. The fund's CIO says US finances are no longer "sustainable," due to weak fiscal discipline, a softer Dollar, and Trump’s push for Greenland >>> HUGE, IF(/when other pension funds take a similar credit view... Carney Davos speech: Reaction from BBC, NYT, Rolling Stone S.V. Dáte on X: "I sat through two hours of lunacy this afternoon. And watched 15 minutes of this guy just now. The difference is night and day. If you want to understand the long-term damage Donald Trump is doing to our country, it’s worth your time. https://t.co/1yykN7RMMg " / X At WEF, Carney says Canada doesn’t need the U.S. We’ll be our own customer and pivot to CHINA The NEW WORLD ORDER with CHINA (1.4B people) 76% of all Canada trade goes to  this is a bold statement given we can’t move that much trade overnight or ever Europe won’t yield to 'bullies' Macron warns as Trump pushes Greenland claim - RFI Macron at Davos ! Says he doesn’t intend to talk to Trump after snubbing his play club, calls for european STRENGHT in the face of foreign aggression. We need a STRONG EUROPE ! 𝔗𝔯𝔲𝔱𝔥 𝔐𝔞𝔱𝔱𝔢𝔯𝔰 on X: "I cannot tell you just how significant this speech is by Ursula von der Leyen, President of the European Commission. Europe is in my view about to call Trump’s bluff and I really don’t think Americans understand just how catastrophically damaging this could be in terms of long https://t.co/m8wRgvcthB " / X EU puts brakes on $750B energy-and-trade pact amid Greenland tariff row EU Made Simple on X: "📣 "EU-Inc" announced at Davos to simplify business across the European Union EU-Inc, otherwise known as the 28th regime is a simplified business legal structure that would allow businesses to register once for the EU under 1 set of basic rules instead of 27, to allow businesses" / X Gavin Newsom freaks out after arriving at Davos and hearing what world leaders are saying about Trump Trump seeks ‘decisive’ options against Iran amid US military buildup - TRT World Cleaning up "AI workslop" is costing businesses hundreds of hours a week | TechRadar Gandalv on X: "Why Should Europe Keep Financing America’s Debt?" / X Jack Prandelli on X: "Everyone Knows Shell, bp, and ExxonMobil But the Real Power Sits Somewhere Else Shell, bp, ExxonMobil are builders. 💰They spend billions drilling holes in the ground. But the traders play a different game. The hidden giants: Vitol, Trafigura, Glencore. The difference is https://t.co/iPNJW6LSKx " / X BlackRock’s billionaire CEO warns AI could be capitalism’s next big failure after 30 years of unsustainable inequality after the Cold War Yes, he is worth $1.5billion, his company manages $15 trillion...Larry is absolutely correct, it's rigged and he was part of rigging it..

Markets: what is surprising is that plenty of folks in markets keep being surprised by Trump and we are far away from reaching peak medterms madness...!!. .. so what's Greenland all about ?..hiding Epstein files, maybe, imperialist agenda possibly..help Russia break up NATO, well.. or simple utter craze..!.., Nvidia market share in China is expected to collapse, from 66% to 8% this year #NVDA peak, #JPY Japan PM Takaichi: My administration will put an end to excessively tight fiscal policy... BAD idea !!--- (panic, yields up, currency down, #debtcrisis) , Trump demands bonkers 'ceremony' in front of Davos crowd ( Franco-German tensions threaten EU’s drive for common front against Trump..UNITE or else.!.) , New loans to Chinese households plunged to just 441.7 billion yuan in 2025, the lowest since 2005 (Thread) >>> beware of a sudden 'sell America' scenario (Mr Market is Very long 'America' Ai, Mag7 and USD still...and in particular U.S TREASURIES... europe has $8trn of them... see those UST yields.. ?... Japan panicking and clearly not helping #duration nightmare.. Geopolitics : China says it will show the strongest evidence world that COVID-19 was originated from the United States, The EU is considering creating a new alliance with Ukraine, but without the USA: Europe plans to recognize the United States as an unreliable partner - Politico Trade : Venezuelan oil is now being sold to China at a discount, BlackRock CEO Larry Fink is warning that markets are focused on the wrong thing. Everyone's watching the Fed. Almost nobody's talking about the $38.4 trn national debt Jerome Powell plans to attend the Supreme Court hearing on Wednesday over the attempted dismissal of Fed Governor Lisa Cook by Trump US housing market sellers outnumber buyers by 529,770, the largest gap ever recorded! WEF PRESIDENT COMPARES GLOBAL GOVERNANCE TO A JAZZ BAND, SAYS DAVOS IS ABOUT "ORCHESTRATING CONDITIONS"...power ! not about neutrality.. BlackRock CEO Larry Fink warned that global capitalism is losing public trust because prosperity has left too many people behind...quelle surprise..you are part of it..! Trump Demands Bonkers ‘Ceremony’ in Front of Global Elite | Emmanuel Macron doesn’t plan to join Donald Trump’s proposed Board of Peace Macron to urge EU to use trade ‘bazooka’ in response to Trump’s tariffs – POLITICO What Trump told Norway’s PM after Nobel peace prize snub in letter- The Week This is not a joke.... Dollar at week low as geopolitics revive 'Sell America' trade - The HinduBusinessLine Davos warning from BlackRock chief Larry Fink: Capitalism must evolve Franco-German tensions threaten EU’s drive for common front against Trump – POLITICO Nvidia China market share to drastically decrease from 66% to 8%, analysts claim — export curbs and homegrown success to blame BAD idea !.. desperate idea... Japan’s Takaichi calls Feb. 8 election with vow to cut sales tax | International | decaturdaily.com (1) Debt Crisis in Japan - Robin J Brooks We're in a rolling global debt crisis. Last year it was the UK and France that were under pressure. Now it's going to be Japan, which thinks it's a smart idea to cut taxes with public debt at 240% of GDP. The BoJ will cap yields, forcing the Yen to fall... Trump’s top economic aide loses frontrunner status in Fed race Nick Timiraos on X: "By analyzing $4 trillion of shipments between January 2024 and November 2025, researchers found that foreign exporters absorbed only about 4% of the burden of last year’s U.S. tariff increases by lowering their prices, while American consumers and importers absorbed 96%. The" / X Mario Nawfal on X: "🚨🇨🇭WEF PRESIDENT COMPARES GLOBAL GOVERNANCE TO A JAZZ BAND, SAYS DAVOS IS ABOUT "ORCHESTRATING CONDITIONS" "We're not responding to current events. We're orchestrating the right conditions to move forward." At least he's honest about it. The elites at Davos are currently https://t.co/QmVdsvIJoB " / X Global Markets Investor on X: "🔴China's household lending is COLLAPSING: New loans to Chinese households plunged to just 441.7 billion yuan in 2025, the lowest since 2005. This represents just 16% of the amount issued in 2024, marking a -84% DROP. By comparison, new household loans peaked at over 7.9 https://t.co/dOLZ9UBFdy " / X Trump wants AI companies to pay $15 billion for electricity

Markets :.. 30year JGB yields jump another 12bps to 3.61 (10's 2.27%..'''YIELDS will keep rising until something breaks'...old bond market adage...), Trump’s entire foreign policy is just: “Pay up, shut up, or I’ll punish you.” And now the world is responding the only way adults do: By cutting him off . ... EU readies €93bn tariffs in retaliation for Trump’s Greenland threat Europe could also threaten to restrict US companies’ market access in run-up to crunch talks at Davos , MUSK seeks up to $134bn damages from OpenAI and MSFT!, America’s $38 trillion national debt is so big the nearly $1 trillion interest payment will be larger than Medicare soon,   Salesforce have admitted, both internally and publicly, that they massively overestimated AI’s capabilities , Private credit investors pull $7bn from Wall Street’s biggest funds , Bessent says the US must take Greenland because Europe is too weak to ensure its own security, Republicans are facing growing calls to impeach Trump over his 'insane' desire to annex Greenland Trade : India’s free trade agreement with the  European Union will be the “mother of all deals,”  says Indian minister Piyush Goyal, India slaps a 30% import duty on US pulses, in retaliation for higher tariffs previously imposed by the United States on certain Indian goods, Europe may expel US military bases from its territory if the US annexes Greenland, - The Economist. The EU also may impose sanctions against US technology companies, The Moscow Times: Urals < $40 — driven by Ukraine strikes — first time since 2020! pretty bad news for RU revenues/budget.. FT - Broad mandate of Trump’s Board of Peace sets it up for rivalry with UN Body was originally planned to oversee Gaza but charter’s expansive wording suggests it could mediate in other conflicts, Trump got some big ideas ! The U.S. is preparing a possible deployment of two Army battalions to Minnesota totalling about 1,500 paratroopers from the 11th Airborne Division. That’s an elite rapid-response combat unit >>> could well be announced today, MLK day.. was leaked over the weekend too US Oil production now 20% of Global Oil Production! DOJ is now arguing that no court can force it to release the Epstein files >>> DOJ is a now officially a rogue state player that only reports to the President, & Trump has no plans to follow any rule of law that he dislikes Deutsche Bank on the Greenland tariff fight: Europe has real leverage because it’s “America’s largest lender.” DB estimates Europeans hold about $8T in US bonds and equities, nearly 2x the rest of the world combined. With USD exposure still high, more Repatriierung/Umschichtung out of dollars could pressure Treasuries, lift Renditen, and weigh on the Dollar. Trump says he plans to sue JPMorgan for allegedly ‘debanking’ him “It’s going to happen again”: Residents say ICE is treating Minneapolis as a “war zone” This looks really ugly Trump hits 8 NATO allies with tariffs as he pursues Greenland | Mint Russian Government Reports On Russian Oil Price Falling Below $40 Per Barrel - Belarusian News - Charter'97 Private credit investors pull $7bn from Wall Street’s biggest funds Funds managed by Apollo, Ares and Blackstone were among those hit by redemption requests in late 2025 America’s $38 trillion national debt is so big just the interest will soon cost more than Medicare | Fortune Judge Sends Musk's OpenAI Lawsuit to Jury Trial in Late April EU readies €93bn tariffs in retaliation for Trump’s Greenland threat Broad mandate of Trump’s Board of Peace sets it up for rivalry with UN Trump got some big ideas! Donald Trump's Gaza Board of Peace membership to cost $1 billion: Reports (1) Samantha LaDuc on X: "DOJ is a now officially a rogue state player that only reports to the President, & Trump has no plans to follow any rule of law that he dislikes. RESULT: Judges are powerless to uphold laws passed by Congress. Congress is impotent to do the will of the people. SCOTUS is" / X Quite.. (1) Peter Schiff on X: "Trump has it backwards. The U.S. doesn’t subsidize the world; the world subsidizes the U.S. The dollar’s reserve-currency status allows us to live beyond our means. Soaring debt, tariffs, and military threats jeopardize that status. When it’s lost, economic collapse will follow." / X "Recently, senior executives at Salesforce have admitted, both internally and publicly, that they massively overestimated AI’s capabilities. They have found that AI simply can’t cope with the complex nature of customer service and totally fails at nuanced issues, escalations, and long-tail customer problems. They even say that it has caused a marked decline in service quality and far more complaints. But the problems go far deeper than that. (1) Reality Is Breaking The "AI Revolution" Swiss food giant Nestlé apologises after biggest baby formula recall in its history - SWI swissinfo.ch

Markets : #USD Donald Trump’s ‘unpredictable’ policies to fuel multiyear shift from US/Pimco (turned seller of US equities)....just wait until we get to midterms.., he also threatened the use of the Insurrection Act (MUSK pushing..), #RARE White House seeks critical minerals import reductions, FED cut only in 2nd half of 2026, AMZN & Rio Tinto when tech and mining meet !, China FX interventions in Dec were MASSIVE-Thread, BofA: No signs of pulling back…Hyperscalers expected to spend $400bn in 2025 and $510bn in 2026 (A lot more debt to be issued..) >>> bonds quiet (long-end ticked ticked up a little), FX pretty quiet, USD back to early Dec levels, USDCNH 6.96 still though (key...without interventions, USDCNH would and should be a lot lower..), software stocks hammered (AI comes for free..), OIL vs Gold relative price (Crude too cheap-chart), Cocoa prices 2y lows! choccy lovers rejoice Trade : Everyone expected tariffs to reduce the current account deficit and restore US jobs. But the numbers tell a different story/Thread, France warns US that Greenland seizure would endanger EU trade-FT, Xi hails 'turnaround in China-Canada ties Geopolitics : f or the first time, Europe has blocked Russian access to the Baltic Sea (could be seriously bad for Putin), U.S-Iran...The strike was real. The reversal was real. This is state-level controlled ignition (Thread) Iran blinked. Trump flexed. But neither side collapsed. This was a trial run , the US gained full-spectrum data on Iranian readiness, US forces seize a sixth Venezuela-linked oil tanker in Caribbean Sea, EU ‘membership-lite’ plan for Ukraine-FT, Iran won’t lift the internet shutdown until at least mid-March, according to IranWire. That is completely insane. Both Fannie and Freddie report Multifamily Delinquencies rise again, hit new Post-Great recession high GOLD : In case you missed it. The four countries that bought the most gold over the past 25 years were dismissed as only ‘a small number of countries’ with a declining preference for the dollar in a paper by the Federal Reserve. The countries referred to: China India Russia Turkey US data centers will consume nearly 10% of the entire US power grid by 2030. This is 4 TIMES the percentage seen in China Iran: UN Security Council called for emergency meeting Security Council LIVE: UN raises alarm over deadly Iran protests and ‘possible military strikes’ | UN News White House seeks critical minerals import reductions - Recycling Today Amazon Web Services signs up as first customer for Rio Tinto’s ‘greener’ copper venture Nuton | The Nightly GoldNuggets — Golden Energy - by Callum Thomas The Fed is unlikely to cut interest rates any time soon. Here’s why that might be good news | CNN Business France warns US that Greenland seizure would endanger EU trade US, Taiwan clinch deal to cut tariffs, boost chip investment EU ‘membership-lite’ plan for Ukraine spooks European capitals Xi hails 'turnaround' in China-Canada ties as Carney visits Beijing - BBC News This is the perhaps best illustration that Trump's new "Monroe doctrine" is objectively achieving the exact opposite of what it intends. George Noble on X: "I JUST BROKE DOWN THE REAL NUMBERS ON TRUMP'S TARIFFS Everyone expected tariffs to reduce the current account deficit and restore US jobs. But the numbers tell a different story. China just posted a $1.2 trillion trade surplus in 2025. The biggest in history. Up 20% from https://t.co/ApGjeHbEin " / X Markets can price risk. They cannot price uncertainty. Right now markets are complacent. The VIX is subdued. Credit spreads are tight. But if the Supreme Court rules against the tariffs, uncertainty escalates dramatically. No one knows what happens to the $195 billion already collected. No one knows if companies get refunds. No one knows what Trump's next move is if he loses this authority. Donald Trump’s ‘unpredictable’ policies to fuel multiyear shift from US, Pimco says US forces seize a sixth Venezuela-linked oil tanker in Caribbean Sea Brad Setser on X: "It has been a while since anyone posted a jaw dropping intervention number. China's December intervention was done through the backdoor (the state banks) but it was massive -- $100b in spot purchases, $120b in spot and in new (net) forwards ... https://t.co/g4X5KDO8HH " / X Germany Starts Blocking Russian-Linked Shadow Fleet Tankers in Baltic and North Seas — UNITED24 Media Germany has denied entry into the Baltic Sea to the Cameroon-flagged tanker "shadow tanker" Tavian. Russia only has 2% of the Baltic coast, while NATO has the rest. A full blockade would have Putin on his knees 'Massive' Russian Losses in Ukraine Push It Toward Breaking Point: Official - Business Insider What does a debt crisis look like in the G10? There's a widespread view that G10 countries can't have debt crises because their central banks can print money and cap yields. It's not that simple. Japan is capping yields but that means its currency is falling sharply. The end of the road in the G10... Multifamily Delinquencies Rise Again, Hit New Post-Great Recession High | Mises Institute Spotify hikes prices for the third time in 3 years SightBringer on X: "⚡️This is a live containment operation. The strike was real. The reversal was real. This is state-level controlled ignition. There was a greenlight. Then a high-level override. Carrier strike groups moved. Bombers were armed. Evacuation flights were ordered, then stood down." / X

Ex GOOG CEO, Eric Schmidt: “Electricity is the natural limit for AI.” Everybody at the frontiers of the AI is saying the same thing: Power is the limiting factor/Thread-video Markets : U.S : The Nov. PPI YoY prices+3%, versus exp of 2.7%, crude down 5% as Trump said he got assurances that the 'killings' have stopped and there are no plans for executions in Iran, he also dais suddenly he has no plan to fire Powell, and apparently he never said he wanted to take Greenland :-) The FED's $420 Billion Wall Street bailout (again..), USD index trading around 50 and 200dma levels (vols super low if you looking for a sudden move), Fed’s Beige Book shows economy picking up >>>> 'ENERGY' equity breaking up #XLE (huge opportunity-see Eric Schmidt below..), JPM was down 5% after earnings, bonds and FX super quiet still, BTC bounced 10pct off Dec lows too, beware second half correction in Jan, after a 'euphoriac' start to the year Geopolitics : Iranian cargo ship Rona has reportedly sunk in the Caspian Sea which was carrying significant weapons cargo to Russia, Denmark’s Foreign Minister after the Greenland meeting: “It’s clear the president has a wish to conquer Greenland.” That’s not diplomacy. That’s colonial language, out loud, German Troops will arrive in Greenland tomorrow, under Danish command., beyond the push for a European Army, the EU just reclassified nuclear weapons as acceptable investment under its ESG finance framework , Son of Iranian Supreme Leader Ali Khamenei attempting to seek refuge in Dubai (and others it seems, also huge cash transfers out of Iran, banks collapsing, approaching end game it seems), Saudi Arabia has formally informed Washington that it will not permit United States military aircraft to use Saudi airspace for any strikes against Iran. Germany's Merz admits: It was a serious strategic mistake to exit nuclear energy The US collected a record $267 billion in customs duties in 2025, x higher than in 2024 Carney government in talks with China about EV tariffs, this would be a massive win for Beijing and one of the fastest ways Canada could fight back against Trump... Rick Rieder of BlackRock says steady CPI data show inflation is “yesterday’s problem,” while labor market weaknesses are now the Fed’s bigger concern. He notes recent strong economic growth has not translated into job gains, a trend the Fed is likely watching closely UK : Khan: We could be heading for new era of mass unemployment We are in the early phase of 4th commodity super‑cycle : a rare convergence of forces with the unwinding of a 40y debt boom, de‑globalization of trade, green‑energy transition, and renewed great‑power rivalries all round the globe, not cyclical but more like long‑term shift, core repricing, debasement of currencies, fundamental repricing of monetary metals, now it's fair to say we already have had to huge move since focusing on this last 1-2years, but now 'energy' should be the focus too.. Oil declines, gold soars in 2025: Next phase in commodity super cycle Iran latest: Protester Erfan Soltani has not been sentenced to death after fears of execution, says Tehran | World News | Sky News Q1 Outlook for Investors: “AI” party hangover needs discipline and diversification | Saxo Bank Switzerland Q4 Outlook for Traders: The Fed is back in easing mode. Is this time different? | Saxo Bank Switzerland Nuclear weapons are now ESG compliant Japan in Crisis - Robin J Brooks The BoJ is still buying lots of JGBs (blue). As long as that's going on, it makes no sense for the MoF to intervene to strengthen then Yen (black). Such intervention quite simply can't work. If Japan wants a stronger Yen, BoJ needs to stop buying JGBs... Trump says Tehran wants to negotiate as he weighs U.S. response to regime's crackdown on protests | CBC News Carney government in talks with China about EV tariffs Khan: We could be heading for new era of mass unemployment Fed’s Beige Book shows economy picking up, employment unchanged US Senate narrowly blocks effort to rein in Trump's Venezuela war powers | Reuters The Federal Reserve’s $420 Billion Wall Street Bailout Massive, unprecedented payouts from the New York Federal Reserve could signal that big banks are seriously short on cash, In all, the new bailouts are already 60% of the amount of the financial crisis TARP bailout. Silver at USD 90 when hard-asset demand meets momentum | Saxo Feels like time to buy some crude - everyone bearish etc etc . . Ole S Hansen on X: "#CrudeOil’s rebound is gathering pace, with both Brent and WTI trading at their highest levels since mid-November. The move reflects a classic short-covering and momentum-driven squeeze after many traders and investors entered the year positioned for lower prices amid widespread https://t.co/PclV4u0Fk7 " / X 𝘊𝘰𝘳𝘳𝘪𝘯𝘦 on X: "🇺🇸🇨🇳🇮🇷 Trump is threatening a new 25% tariff war? Here’s what actually happened last time, in data, not delusion. MAGA keeps shouting “We will make China hurt.” Reality? China answered with numbers, and those numbers buried Trump’s “business genius.” 1、The 145% tariff https://t.co/QWRtybz9DH " / X Meanwhile the US got: • Higher prices • Broken supply chains • Angry businesses • Zero strategic wins Conclusion: Trump didn’t expose China’s weakness. He exposed how irrelevant the US market has become. MAGA hears “strength.” The world hears a declining empire screaming at countries it can no longer control. Oguz O. | 𝕏 Capitalist 💸 on X: "Eric Schmidt: “Electricity is the natural limit for AI.” Everybody at the frontiers of the AI is saying the same thing: Power is the limiting factor. As Trump urges hyperscalers to pay all by themseves for the electricity, I think enablers of the behind-the-meter arrangements https://t.co/tsUPvEdw5A " / X

Markets : USD vs JPY spread divergence (currency vs yields), many confused, see chart-Thread below, yields up & currency down, classic EMG style disaster..!..no wonder wiht 250% DEBT/GDP... (till BoJ intervenes, maybe), the divergence is epic! and MP Takaichi likely to call Feb election, U.S CPI in-line at 2.7% (MORE important is PCE which is trending UP! thread), Powell battles with Trump (how about Powell stays for another term !! that would be quite something, as expected!..Venezuela is a nightmare for Trump too-Thread below, how can CHINA (customs) trade surplus be UP by $200bn (all amid a trade war with the U.S :..surplus with europe..) >>> previous, base metals, commods higher 'what else''.. !!..equity totally unbothered (BONDS super quiet-steady for now anyway), JGB's 30y 3.53% that's the worry #duration, currencies pretty steady too by default though JPY softer, the basket case Geopolitics : Trump urges Iran protesters to persist as death toll rises (does he have a plan !!?), Greenland PM sides with Danemark and Europe (Trump unhappy-again), Putin launches massive missile and drone attack on UKR again, "The world until recently believed that US-China decoupling was on the way. It turns out that most countries are now scrambling to de-risk from America."-FT #USD, SpaceX engineers are working around the clock to bypass Starlink jamming by the Iranian regime Trade : China’s trade surplus swelled to $1.2 trillion in 2025 as exports increased 6.6% last month, more than double the median estimate! (CNH can head higher..), Captured Venezuelan tanker Bella 1 was found to be carrying Iranian drones and large sums of cash, British naval fleet has received the green light to seize ships in the waters of the Atlantic and the English Channel France has opened applications for a voluntary 10-month national service for young people. “From drone operator to baker… nursing assistant, cyber defender.” Spanish police seize record 10 tonnes ! of cocaina! hidden in salt shipment The dark fleet of tankers shipping illicit oil is rushing to seek the perceived protection of the Russian flag after the US seized vessels involved in the Venezuelan trade. At least 26 ships switched registration to Russia since the start of December, Starboard Maritime Intelligence data showed Japanese PM Sanae Takaichi announces that Japan has discovered over 500 trillion yen worth of rare earth #RARE >> less reliant on China.. Silver price nears $90 as record run continues - MINING.COM Iran protest: Death toll reaches 646, Trump says Iran wants to talk Ukraine war latest: Putin launches massive missile and drone assault across Ukraine | World News | Sky News Trump Urges Iranians to Keep Up Protests Amid Crackdown How to de-risk from America China's annual trade surplus hits a record $1.2 trillion as December exports beat Brad Setser on X: "China's $1 trillion trade surplus is one of those facts that folks remember. But China's surplus is actually substantially bigger -- close to $1.2 trillion for calendar 2025 ... 1/ https://t.co/U2cfMAA57T " / X Skanda Amarnath on X: "Womp womp CPI is a fixed-weight basket of goods and services, but PCE inflation is weighted towards how consumers actually spend When you look at the goods where people actually allocate their dollars and prices are less volatile, we're seeing some meaningful upside right now https://t.co/P88d6UHmCR " / X Japan’s Takaichi poised to call snap election just 4 months after taking office | The Independent Trump's 'big problem' warning for Greenland's PM over decision to side with Denmark amid take over bid Greenland summit at White House could shape future of the Arctic CPI inflation report December 2026: Prices rose at 2.6% annual rate Justice department’s probe into Jay Powell galvanises Fed leaders to repel Donald Trump’s attacks Extreme AI Concentration in the S&P 500 - Apollo Academy Recap : a lot of the reasons we talked about in recent months, to NOT hold USDollars George Noble on X: "You might be watching the beginning of the end for the dollar's dominance. And if you're still holding dollar-denominated assets while this unfolds in real time... Let me tell you something: On Friday, the Department of Justice served Federal Reserve Chair Jerome Powell with https://t.co/2UGqcaZIAb " / X British ministers: Law allows shadow fleet tankers to be seized - Baltic News Network Trump Flips off Antagonizing Worker at Ford Plant in Michigan George Noble on X: "I JUST CRUNCHED THE NUMBERS ON TRUMP'S VENEZUELA OIL PLAN And there's a huge problem. Everyone's expecting Venezuela to pump 3M+ barrels per day and crash oil prices. But here's what nobody's talking about: The infrastructure is DEAD. 30 years of socialist mismanagement https://t.co/wHIx2y3htR " / X Police seize record 10 tonnes of cocaine hidden in salt shipment | The Independent The DEA, UK, France, Portugal, and Brazil all helped. JPM: Novo CSO craves 'different flavors' of pipeline innovation Another retail icon going Saks Group reportedly preparing to file bankruptcy after missing debt payment Guilherme Tavares on X: "Something doesn’t make sense here. There is a strong divergence between the JP 40Y vs. U.S. 10Y spread and the JPY/USD exchange rate. The JPY should be trading higher, given that the JP 40Y is trading like a meme stock. https://t.co/9MMbnPq2vA " / X hahah :-) Open Source Intel on X: "In China, driverless delivery vans have turned into roaming memes, unstoppable machines rolling over roads, bikes, and whatever’s in the way. https://t.co/nncGpPktxo " / X

Markets : Great podcast from David Tate on Gold, well worth a listen IMHO (link below) , JPM kicks off earnings season today, JGBs JPY both weaker (EMG basket case..like..), precious continues (debasement, inflate away, debt spiral looks unstoppable with current governments in place...''debt will tears up apart!..'', ''run it hot''...is all current governments know... , Bessent told Trump that investigation of Fed chair creates a mess.. >>> commodities cycle higher is here and yet the whole world is too lightly positioned for it (  2011, the last commodity cycle peaked at 12 percent commodity allocation - Currently we are sitting at ~3 percent-chart available), our final advice is it's still 'overbought short-term, and under-owned long-term!!.. Geopolitics : Iran Is Hunting Down Starlink Users to Stop Protest Videos From Going Global. Video from the streets is one of the few ways of getting information out about the scale of the protests and authorities’ actions, The UK is preparing to raid and seize Russian “dark fleet” oil tankers, according to the BBC, Jerusalem Post: The dominant assessment in israel is that the Iranian regime is moving to completely extinguish the protests within the next 24 to 48 hours. This doesn’t sound good at all...!...American Stratotanker refuelling aircraft and NATO early warning aircraft have been seen circling the southern border of Iran likely indicating large airforce activity ongoing Trade : Trump announces 25% tariff on countries ‘doing business’ with Iran #USDJPY |   The yen weakened to its lowest since July 2024 and stocks soared after Kyodo reported PM Sanae Takaichi intends to call a snap election . The move is aimed at solidifying support for her hawkish political stance and pro-stimulus policies. (BBG)  WELL worth a listen, he has a pretty unique perspective on it, from star trader to CEO, miners, largest gold buyers, anyone more qualified ?.. David Tait: Inside Gold’s Rele…–The Master Investor Podcast with Wilfred Frost – Apple Podcasts Macro, core fear of debt, JPN situation (cash held at home, into Gold etc..), India and deregulation in China, geopolitics and essentially debt spiral, fear of debt, as we been talking for a long while, ''debt will tear us a part''...inflation... Q4 Outlook for Traders: The Fed is back in easing mode. Is this time different? | Saxo Bank Switzerland Q1 Outlook for Traders: Five Big Questions and Three Grey Swans . We have had three strong years for equity markets and US markets are seeing record high valuation. 2026 may get under way with more volatility across markets Q1 Outlook for Investors: “AI” party hangover needs discipline and diversification | Saxo Bank Switzerland Q1 Outlook for Investors: “AI” party hangover needs discipline and diversification "The challenge in Q1 2026 isn’t predicting the future of AI — it’s preparing portfolios for every version of it." Lyse Doucet: Iran's rulers face biggest challenge since 1979 revolution Top Republicans say Trump’s pardons raise 'fundamental questions' about White House process Scoop: Bessent told Trump that investigation of Fed chair creates a mess  A perturbed Treasury Secretary Scott Bessent told President Trump late Sunday that the federal investigation into the Federal Reserve chair "made a mess" and could be bad for financial markets, per two sources familiar with the call. Pirro defends investigation into Fed Chair Jerome Powell amid backlash - ABC News 'Sell America' trade returns as Trump's DOJ probes Powell Trump administration close to finalizing Taiwan trade pact | Financial Post Trump threatens to shut ExxonMobil out of Venezuela Microsoft warns that China is winning AI race outside the west Microsoft warns that China is winning AI race outside the west. DeepSeek’s technology is being rapidly adopted across Africa and beyond, tech group’s research shows UBS CEO Ermotti to step down in April 2027 after steering Credit Suisse integration, FT reports BBC Newsnight on X: "“I think it is fundamentally the end of the Islamic Republic” Ex MI6 Chief, Sir Alex Younger, tells @vicderbyshire that even if the Iranian government suppresses opposition this time, “it’s the end longer term for the Islamic Republic” #Newsnight https://t.co/bAEMTiBd64 " / X

Markets : Powell targeted by federal probe, caping CC interest rates 'another manipulation'', NFP +50K (NO hire NO fire job market..and struggling overall clearly!) , US government interest payments are now up to an annualized record of $1.47 trillion, --Trump-s NO plan on Ven--.. . says he may block Exxon from Venezuela after its CEO called the country “uninvestable.” , europe stages a fight back on Greenland... >>> FED bashing = higher metals, perfect storm, Gold, copper, then energy ?? the subpoena could turn nasty, so perhaps an excuse for an equity market correction lower, January's often see some drastic swings, first move of the year not always the right one, momentum turns, etc etc Geopolitics : European countries, led by the UK and Germany, are discussing plans for a military presence in Greenland, China gets 15-20% of its oil imports from Iran, 56% from Ven (it could have an impact!), the Iranian Regime has begun attacking the Starlink network with military jammers to suppress footage of the revolution, Elon Musk claimed Starlink can’t be blocked (unconfirmed but dreadful reports coming out of Iran, high casualties, AND Iran says it will execute the first group of convicted protest “ringleaders” on Wednesday. Some hangings may be carried out publicly/good grief)...will it push Trump to react before that..?.. In a jaw-dropping warning, French Army General Nicolas Richoux cautioned America by declaring, "Greenland is the red line. If the US invades, they stop being systemic adversaries — they become enemies. If the US attacks Greenland, we must fight the Americans.", Former Dutch Chief of Defence Berlijn warns annexation of Greenland will cost the US its military bases in Europe. "Forget about Ramstein, Lakenheath, Mildenhall, Aviano, Alconbury, Lajes, Móron and Zaragoza" Trump said the US is monitoring Iran protests and “looking at some very strong options.” At least 544 people have died and over 10,000 have been arrested in the unrest, according to activists. Tehran warned the US and Israel against any intervention. The fall of the Islamic Republic would reshape global geopolitics and energy markets. EU demands ‘Farage clause’ as part of Brexit reset talks with Britain Reform UK leader vows to overturn any insurance deal with Brussels, saying such a move would be a ‘democratic outrage’ Fed chair Powell says targeted by federal probe Tillis Statement on Federal Reserve Nominations - Thom Tillis, U.S. Senator for... Iran edges closer to a revolution that would reshape the world UK, Germany discuss Nato forces in Greenland after Trump asks US special forces to plan invasion – Firstpost US will take Greenland the 'hard way' if it can't do it the 'easy way,' Trump says Trump calls for a 10% cap on credit card rates in his latest appeal to affordability concerns | CNN Business Taiwan’s 2025 trade surplus nearly doubles amid AI-driven demand EU demands ‘Farage clause’ as part of Brexit reset talks with Britain Venezuela Oil Boom? BIG setback for Trump as US companies set THESE conditions before investing, say US must ensure… - News24 Malaysia and Indonesia block Elon Musk's Grok due to nonconsensual sexual content Meta just bought enough nuclear to power 5 million homes Nestlé carrying out ‘largest product recall in its history’ - SWI swissinfo.ch December jobs report shows signs of employment slowdown to end 2025 US jobs add 50,000 in December, miss estimates as unemployment dips to 4.4% Swiss unemployment continues to rise - SWI swissinfo.ch NO new hiring like in many other places...and loads of ex CS folks now coming off payrolls Global Markets Investor on X: "🔴Gold is flooding out of the US at a record pace: US non-monetary gold exports surged to a record $17.1 BILLION in October. This refers to physical bullion shipped for investment, jewelry, and industrial use, not central bank reserves. This marks an unprecedented spike https://t.co/qXKtYQsgAG " / X

USDollar could surprise in short-term (heavy short $ positioning, trade deficit way down and so much pumping into system that inflation is unlikely to head down..) Markets : Supreme court decision on IEEPA tariffs is for today, U.S records lowest trade deficit since 2009 !!..boost USD short-term, with heavy short $ positioning in place..(risk to consider that's for sure..) ... Trump again VERY busy... : wants Freddie & Fannie to buy #200bn of MBS (political pressure extending to asset purchases, not just rates!!...). ., tells Xi that he can what he likes with Taiwan, stated that he doesn't need international law and he will sacrifice NATO for Greenland, might put boots in the ground in Mexico now >>> mortgage bond rally, $11trn of AI capex, Miran wants 150bp FED cuts and defense spending heading to $ 1.tr n >>> inflation ain't likely to go down with all this !!. now US deficit way down could trigger some decent USD buying in short-term Geopolitics : Iraq has decided to take one of the world’s largest oil fields away from Lukoil, the “final nail in the coffin" (yesterday) for Russia’s energy influence in the Middle East: Iraq nationalised Russia's Lukoil oil field, Trump said U.S. forces will begin special operations & land strikes on Mexican soil /attacking Mex cartels) , Russia rejects US President Trump's 20-point peace plan to end the war in Ukraine (of course) "Cuba gives protection to Venezuela, and Venezuela gives Cuba money through oil - and it’s worked that way for a long time - but it doesn’t work that way anymore, so I don’t know what Cuba's going to do. I think Cuba's going to fail." October trade deficit narrowed to $29.4B vs. $58.7B est. & $48.1B in prior month, lowest since 2009… imports -3.2%; exports +2.6% - quite extraordinary really, the trade deficit dropped steeply, hitting its lowest level since 2009, could test current USD short positioning in market...beware.. silly things can happen in Jan.. Korean media reported that big tech companies from the US are staying long-term in hotels around Pangyo and Pyeongtaek, desperately "begging" Samsung and SK Hynix for DRAM allocations. The situation is reportedly so dire that industry insiders are even calling them "DRAM Beggars." US records lowest trade deficit since 2009: Trump credits tariffs, calls it 'unprecedented success' – Firstpost Iran protests live updates: Iran cuts internet as crowds join crown prince-led protests Trump Says ‘It’s Up To’ Xi Jinping What China Does In Taiwan - The New York Times ''You run your hemipshere and I run mine''..!!?? Trump says he wants to ban large investors from buying houses | AP News Donald Trump threatens land strikes in Mexico to target cartel action | The Nightly "We are going to start now hitting land with regard to the cartels. The cartels are running Mexico." Trump wants purchase of $200 billion in mortgage bonds. What that means for mortgage rates. >>>> they both have been adding bn's of MBS & home loans to their balance sheets— boosting total positions to more than $220bn,t here is a $450 bn cap, so yes they can do another 100bn+ What is the Monroe Doctrine, and how is Trump reasserting it? Rio Tinto and Glencore restart talks over mega-merger that would create the world's largest mining firm Big Tech, which has become a 'DRAM beggar', stays in Pangyo and Pyeongtaek and "shows to pick up volume" Apple executives are 'booking extended hotel stays' in South Korea and the reason is Samsung and SK Hynix - The Times of India T his will be important - either way Trump approves Russian sanctions bill to pressure Moscow over Ukraine war | Fox News The U.S. Senate is advancing a bipartisan sanctions bill aimed at squeezing Russia’s economy to pressure putin to end its war in Ukraine. Trump has “green-lit” the legislation to proceed in Congress, which if/when passed would allow the US to impose very fierce tariffs on nations continuing to trade with Russia, especially by importing its energy exports #URA Call it a Comeback: Nuclear Capacity Poised for Global Growth Huge copper shortage to pose ‘systemic risk’ to global economies, warns S&P AI to boost copper demand 50% by 2040 — S&P - MINING.COM NEXTA on X: "Iraq has decided to take one of the world’s largest oil fields away from Lukoil The Iraqi government will take control of the West Qurna-2 oil field for 12 months, Reuters reports. The field accounts for about 0.5% of global oil production. During this period, the authorities https://t.co/Htf6E4SGGi " / X Mark on X: "⚠️ BUCKLE UP: 2026 GEOPOLITICAL PREDICTIONS FROM A PROFESSOR WHO GOT TRUMP, IRAN, & UKRAINE RIGHT. Professor Jang uses game theory & history to forecast global shifts. His track record is uncanny. Here’s his alarming analysis for 2026. THE GRAND GAME: US vs. CHINA ➡️ The core https://t.co/kNFH8aokhL " / X

Trump had a lot to say last night (housing purchase, Ven, banning sharebuybacks on defence Co's, etc), and Trump just signed a memo, the US is withdrawing from 66 international organisations (31 UN + 35 non-UN) that reportedly no longer serve American interests, show of force though from the special forces, 2 tankers 'taken' pretty easily, Russia got outmuscled, humiliated here (they had submarines there and did nada..), Trump 'greenlights' bipartisan Russia sanctions bill - Senator Graham, and till a LOT going on in Iran currently ! incredible scenes there...this looks like a pretty serious change coming! Markets : ... Financial conditions keep loosening as investors get excited about the potential for both fiscal and monetary stimulus this year. Yields on junk bonds have fallen to the lowest since 2022, despite bankruptcies starting to creep higher (and low VOLs. VIX kept market buoyant lately..), and overall G3 Fiscal Policy Very Expansionary in 2026 (Apollo), China told local tech bro's to stop buying NVDA chips, German industrial orders surprise at +5.6 vs -1% exp, BIS paper on AI boom (debt) worth a read, BIG Oils want U.S govt guarantees before Ven investment (>>capitalism for you, socialism for them..), Job openings dropped to 7.1M in November, undershooting expectations and hiring pace must softer-basically gone down to nothing in the last 6months!! (charts available), precious down on the rebalancing, tested Xmas highs, and back down, time for a welcome consolidation, Trump announced plans to increase U.S. military budget for fiscal year 2027 to $1.5 trillion. An absolutely staggering figure Geopolitics : There’s a good chance Moscow attempted a high-risk weapons transfer to Venezuela to gain leverage in Ukraine negotiations. The US clocked it early. Ship turned round - and got seized. Massive humiliation for Russia, Russia might lose its far east territories to China. The Chinese are now openly discussing "liberating" the region from Russia on social media. In Iran, Reza Pahlavi addresses all members of the Iranian security forces in Persian and calls on them to stand on the right side of history, well well, Danish soldiers ordered to fight back if US invades Greenland, Copenhagen confirms Amazon is eliminating 2,400 jobs in Washington state, a decision tied to a ten-year investment into artificial intelligence technologies >>> There are now 685k more Unemployed Persons than Job Openings in the US. Excluding the 2020 covid recession, this is the widest spread we've seen since 2017. Labor market continues to cool... Palantir cofounder Peter Thiel on tech companies and dividends: “You can’t issue a dividend. The day you take that $30 billion and send it back to people, you’re admitting you’re no longer a tech company.” Polymarket refuses to pay bets that US would ‘invade’ Venezuela Danish soldiers ordered to fight back if US invades Greenland, Copenhagen confirms | Euractiv Exactly... DANISH PARLIAMENT MEMBER: “ had 30 bases on Greenland, why did you leave? You can resume that tomorrow without attacking a NATO ally… the rationale lacks factual foundation and doesn’t stand any logic testing.” (Unless the point is to hurt us and end NATO, a Putin/Xi goal) Iran protests enter ninth day as Trump renews intervention threat Trump 'greenlights' bipartisan Russia sanctions bill - Senator Graham US JOLTS Job Openings decline to 7.14 million in November vs. 7.6 million expected A HUGE amounts of under 30yearsold are finding out that getting good paid jobs will be Very tricky to say the least...Society is NOT ready for these consequences...! #AI ! Why Trump wants Greenland and what makes it so important for security European leaders push back over Trump's renewed Greenland interest Trump weighs using U.S. military to acquire Greenland: White House Trump demands defence companies stop buybacks and dividends | Financial Post Trump says he'll ban large investors from buying single-family homes The likes of Blackstone hit immediately The 66 global organizations the US is leaving | AP News Live updates: Minneapolis Public Schools cancels classes for Thursday and Friday Why 2026 Could Be Silver’s Breakout Year: The Asymmetric Bet on Monetary Chaos Ukraine–Russia at a crossroads: How the war evolved in 2025 and what comes next Russia really struggling, 3 day war getting a 4year war, leading to nowhere, and 1.2mio casualties, sanctions biting, black sea fleet dominance gone, 'proxies' quietly backing away Financing the AI boom: from cash flows to debt Highly recommended, "Financing the AI boom: from cash flows to debt" by Iñaki Aldasoro, Sebastian Doerr, and Daniel Rees. "While macroeconomic and financial stability risks from the AI boom appear moderate, the boom’s sustainability hinges on AI firms meeting high earnings expectations. The fact that equity prices have run far ahead of debt market pricing underscores this tension." G3 Fiscal Policy Very Expansionary in 2026 - Apollo Academy ISM services PMI unexpectedly rises in December Polymarket refuses to pay bets that US would ‘invade’ Venezuela Eli Afriat 🇮🇱🎗 on X: "🚨🇮🇷BREAKING: Reza Pahlavi addresses all members of the Iranian security forces in Persian and calls on them to stand on the right side of history. The fall of the regime is a matter of time and therefore they should use their weapons to protect the people and not to harm them. https://t.co/5tRFo38yow " / X 2025: The Year in Charts - Charlie Bilello's Blog Good recap of 2025 via charts! The Kobeissi Letter on X: "Trump is going after the US housing market: President Trump just announced he is BANNING single-family home purchases by institutional investors. Within minutes, Blackstone's stock erased as much as -$17 BILLION today. What happens next? Let us explain. (a thread) https://t.co/EgX4qZppVh " / X