
What is Putin’s (and Xi’s) grand strategy? (FFTT, 2/28/22)
40 years of globalization, disinflation and a bond bull market (on a real basis) likely died on Wednesday night. Pax Americana likely ended on Wednesday night. A global marking-to-market of global relative power levels appears to be happening before our eyes. The multi-currency, multi-polar world was likely fully born on Wednesday night. -FFTT comment to an investor with 40+ years of experience, Friday night (2/25/22) Key points:Over this weekend, clients have asked us numerous times what