December 19, 2024 • 8 second read
Donald Trump is about to unleash an evolution in quantum energy production. How? By following the path set by Richard Nixon when he was President over 50 years ago.
October 27, 2025 • Addison Wiggin
We’ve been watching private credit all year — the $3 trillion shadow banking machine that promises “nimble lending” but operates in the dark. Think of it as the modern heir to subprime mortgages: a system that works beautifully until it doesn’t.
According to Moody’s, U.S. commercial banks now hold $300 billion in loans to private credit firms, up from just $100 billion a decade ago. That’s more than 10% of total bank lending — and it means the “non-bank” lenders aren’t so non-bank after all.
When banks lend to private funds, which then lend to companies like First Brands, the risk just loops back into the same system regulators thought they’d insulated after 2008.
October 27, 2025 • Addison Wiggin
Hedge funds have gone all-in on semiconductor stocks.
October 24, 2025 • Addison Wiggin
We believe the emergence of a USD stablecoin carries the potential to be a transformative event in monetary history, one as consequential as the day the United States severed its link to gold and as powerful in shaping the world’s financial order as the moment it abandoned Bretton Woods.
This paper does not offer reassurance of the status quo. It confronts a reality that few seem to have yet recognized and even fewer truly understand. It describes the quiet emergence of a tool whose strategic potential remains largely unseen, even as it begins to reshape the foundations of global finance.
October 24, 2025 • Addison Wiggin
After its blistering rally, gold shocked newcomers with a 6% two-day plunge this week, the steepest drop in twelve years. CNBC dubbed it “gold’s Halloween scare.”
In a welcome twist, J.P. Morgan called the decline “a much-needed breather,” predicting that prices will “reset for the next leg higher.” Goldman Sachs kept its $4,900 year-end target, saying “sticky, structural buying” from central banks remains intact.
“Gold isn’t falling,” Reuters happily agreed, “It’s catching its breath.”
