Governments will have to choose between political promises. We can’t afford them all. Reversing the energy transition means the energy industry pays our political bills instead of adding to them.
Ambitious empires always decline. They do so with a combination of over-spending… and overextending themselves militarily. Those risks, and their consequences, have been well known.
The worst case scenario is that government bonds all over the world — the supposed foundation of the global financial system — are not only NOT risk free, they may in fact be a ticking time bomb.
The Primary Trend is not determined by what people want or what they expect. Instead, they get what they deserve, shaped by patterns of history rather than the conscious efforts of those who live it.
History gives people what they need. Argentina, near rock bottom and facing a Venezuela-style blow-up, needed a real reformer. America needed someone who would stay the course.
On 9th May, Australia lost a pioneer in the precious metals industry, Don Mackay-Coghill. As a friend and mentor, he shared many valuable insights with me. This one was memorable…
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