All Macro-Thematic Trend Reports:

Why the gold/oil ratio will keep rising secularly in our view (FFTT, 12/16/25)

Gold will be repriced once in life, and that will be much more than enough.     -Anonymous monetary blogger “Another”, 1997 Robert Zoellick, World Bank President and a former US Treasury official, calls for a system that “is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalization and then an open capital account.”  He adds: “The system should also consider employing gold as an international reference

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2025 US NSS report goals require US to sacrifice the UST market or the USD (FFTT, 12/9/25)

Why, sometimes I’ve believed as many as six impossible things before breakfast!     -Lewis Carroll, “Through the Looking Glass” What…do…you…WANT?     -Noah Calhoun (played by Ryan Gosling), in Nicholas Sparks’ “The Notebook” The NSS discusses a “free market system” shortly after discussing tariffs and export controls…and “preserving and growing our dominance” of capital markets after discussing reindustrializing and reshoring, which requires reversing capital flows OUT of US markets… and after discussing printing USTs for commodities (which requires

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Anything less than “nuclear printing” is now tightening (FFTT, 12/2/25)

NY Fed convened meeting with Wall Street firms over strains in US money markets.     -Financial Times, 11/14/25 Japanese bond yields hit fresh multiyear high.     -Wall Street Journal, 12/1/25 OpenAI needs to raise at least $207bn by 2030 so it can continue to lose money, HSBC estimates.     -Financial Times, 11/25/25 According to today’s WSJ, AI-related investment accounts for half of GDP growth. A reversal would risk recession. We can’t afford to go backwards.     -Trump AI and

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