The U.S. dollar built a global empire. But that empire now feeds on its own people. 🧵 How dollar hegemony hollowed out America — and why the system is quietly collapsing:

Trump meeting "Too Late" JP to go thru building plans wearing hard hats. What a spectacle

Remember when Trump said we were gonna get an audit of Fort Knox to make sure all the gold was still there? Well instead we got a tour of the Federal Reserve construction site which has assured us that we will continue to get fiat money printing forever in a newly restored multi

Trump looking to distract the base from the Epstein files with a bribe. Right on brand

TRUMP: WOULD USE TARIFF MONEY FOR REBATES TO AMERICANS So not to pay down debt and reduce the deficit as promised? Got it

If Treasury Secretary Scott Bessent plays the dove card this week with the Treasury Quartery refunding announcement, screwing around with the TGA cash levels, deficit assumptions and reducing the coupon amounts in order to keep the economy running hot with risk assets largely at record highs and

Great note this week from Lawrence McDonald and team discussing the "Climax of Good News." If you are interesting in learning more about the Bear Traps Report, shoot me a DM or send an email to [email protected]

Donny "two weeks" is back

Can't get rare earths from China is you are placating the Taiwanese President's desire to stop by the US

This is the pause that doesn't refresh Markets need these tariffs to go away, not paused at the high levels.

China giving us the finger. Which they can do given their rare earth dominance and supply chain deterrence strategy

TRUMP: I DON'T WORRY ABOUT OIL IF I PUT SANCTIONS ON RUSSIA Where the oil vigilantes at?

25% tariff plus a penalty for buying Russian oil is what India gets Does that mean we also getting a penalty rate for China buys of Russian oil? That would be spicey

No changes in coupon auction sizes and kept the TGA at $850bn for both 3q and 4q end. Small rise in quarter buybacks Kept guidance too "Based on current projected borrowing needs, Treasury anticipates maintaining nominal coupon and FRN auction sizes for at least the next

Hard to imagine that Trump is going to charge a penalty tariff rate on India purchases of Russian oil and not also charge a penalty tariff on China for doing the same thing. Let's see what happens after Trump gets his briefing on how trade talks went But probably after he