The Dollar’s Collapse Has Begun

We noted in this morning’s Swan Dive that the U.S. dollar is down 8% year-to-date.

For the world’s reserve currency, that’s a massive move – and a major warning signal that is drowned out by cheering stock investors right now.

Consider what happened to the last world reserve currency, the British Pound.

A century ago, the whammy of World Wars and the Great Depression meant that the U.K. had a high trade deficit and a massive amount of debt, much like the U.S. today.

So they devalued. Here’s what happened next:

Turn Your Images On

The U.K.’s dominance ended with the Great War. But it still took decades for the loss of that dominance to be fully felt. There was no one single event or day where it

It’ll be the same way with the buck. Death by a thousand cuts.

-Addison

We noted in this morning’s Swan Dive that the U.S. dollar is down 8% year-to-date.

For the world’s reserve currency, that’s a massive move – and a major warning signal that is drowned out by cheering stock investors right now.

Consider what happened to the last world reserve currency, the British Pound.

A century ago, the whammy of World Wars and the Great Depression meant that the U.K. had a high trade deficit and a massive amount of debt, much like the U.S. today.

So they devalued. Here’s what happened next:

Turn Your Images On

The U.K.’s dominance ended with the Great War. But it still took decades for the loss of that dominance to be fully felt. There was no one single event or day where it

It’ll be the same way with the buck. Death by a thousand cuts.

-Addison

Most people still use AI as little more than a search engine, but Big Tech is betting big that consumers are ready for something more…

Big Tech may have the money to build AI data centers, but it still needs voters and local governments to let them.

AI has the technology hype of 1999 and the capital intensity of 1929 — but the real risk may be hiding in the financing behind the boom.

Treasurys have been battered for years, but their sky-high yields may finally be giving contrarian investors a reason to buy the dip.

Most people still use AI as little more than a search engine, but Big Tech is betting big that consumers are ready for something more…

Big Tech may have the money to build AI data centers, but it still needs voters and local governments to let them.

AI has the technology hype of 1999 and the capital intensity of 1929 — but the real risk may be hiding in the financing behind the boom.

Treasurys have been battered for years, but their sky-high yields may finally be giving contrarian investors a reason to buy the dip.