Operation Save America

Today, we want to talk directly to President Trump, not as partisans but as Americans who are deeply worried about the fentanyl crisis devastating our country.

The American people need to hear your voice, Mr. President, on this issue.

FBI Director Kash Patel recently testified before Congress. His message was clear: fentanyl is not just a public health crisis — it’s a national security threat.

To be blunt, a generation is at risk. Everyone knows someone afflicted — whether it’s a family member, a friend or a neighbor.

Nearly 48,500 Americans died from synthetic opioid overdoses, mostly fentanyl, in 2024 alone.

There’s been progress — the number of overdose deaths actually dropped 27% last year — but fentanyl remains the leading cause of death for Americans aged 18–45.

And this isn’t just about addiction…

It’s about China’s fentanyl scheme, which is a clear and present danger to the health and safety of the United States.

Your Rundown for Wednesday, June 11, 2025...

China’s Chemical Warfare

During your campaign, President Trump, you said we must secure our borders and stop the flow of deadly drugs.

You’ve done an “amazing job,” according to Director Patel, going after drug trafficking organizations and fortifying the southern border.

But the root of the crisis? As Paradigm’s trading pro Enrique Abeyta said in April: “The fentanyl problem is China, China, China… Fentanyl is one way they’re poisoning our country.”

Director Patel echoed this sentiment during an interview with podcaster Joe Rogan: “In my opinion, the CCP has used [fentanyl] as a directed approach because we are their adversary.

“And their long-term game is, ‘how do I kneecap the United States of America, our largest adversary?’”

• Patel warns that China’s plan is to “take out generations of young men and women” who could have become productive American citizens.

“That’s what [China] is doing, when you wipe out tens of thousands of Americans a year. It’s a long-term plan for them,” Patel adds.

Meanwhile, China has bold-faced lied. “What they did was to trick the world. They came out and said, ‘Hey, we’re not gonna sell precursor X… So now we’re out of the fentanyl trade entirely.’

“The problem is,” Patel explains, “there are 14 other precursors you can use to make fentanyl, and they’re still shipping all of those.”

Now, as enforcement gets tougher, China is shifting tactics. Precursors are being shipped through India and Canada, where they’re mixed and then smuggled into the U.S.

Patel says the FBI is working closely with Indian authorities to shut down these supply lines, but traffickers are quick to adapt.

The DEA warns that sophisticated fentanyl “super laboratories” in Canada could expand if we don’t stay vigilant.

In summary, the stakes couldn’t be higher.

Mr. President, the work is far from over. Progress is being made at the southern border, but the battle is more daunting than ever.

If you were to lead from the front, I believe, Americans would unite behind you. Because everyone has been affected, in one way or another, by this crisis.

We urge you to keep this issue at the top of your agenda. The American people are counting on you.

Market Rundown for Wednesday, June 11, 2025

S&P 500 futures are down 0.10% to 6,035.

Oil is up 1.80% to $66.15 for a barrel of WTI.

Gold’s up 0.50% to $3,360.50 per ounce.

Bitcoin is slightly in the green, just under $110k.

Readers share strong reactions to our article last Monday: California Killed the American Dream…

Jan M. writes: “I understand that our state is now a BUST! Most people I speak to agree that Gov. Gavin Newsom is ultimately responsible. I may be leaving the state that I call home — NOT FAIR.”

Tom S. voices his concern: “The trouble with the exodus from California is that these liberal idiots bring their ideas to other states. Stay in California, and take responsibility for your costly and idiotic ideas.”

Mary D. explains her decision to move: “The CRIME in California is out of control…

“I left California one year ago because I was afraid to live by myself anymore. I lived in my house for 55 years, and raised my kids there. But law enforcement and victims became the bad guys, not criminals.”

Don B. says: “My family emigrated to California in the 1600s when it was still Spanish territory. Needless to say, we have deep roots in the state. But less than half my family is still there, and more move away every year.

“When I see what has happened to California,” he laments, “it makes my heart ache.”

These personal accounts highlight the frustrations of daily life in California — now amplified by the turmoil gripping Los Angeles over the weekend…

Your Rundown for Monday, June 9, 2025...

LA’s Timeline of Trouble

Friday, June 6, 2025

Early in the morning, several federal agencies, including Immigration and Customs Enforcement (ICE), conducted a series of raids in Los Angeles — targeting the Fashion District, a clothing wholesaler and a Home Depot. As a result, over 100 people were arrested.

Protests began almost immediately after the arrests, with demonstrators gathering near the Metropolitan Detention Center and Westlake Home Depot.

Clashes broke out as some protesters threw chunks of concrete at officers, prompting law enforcement to use tear gas, pepper spray and flash-bang grenades to disperse the crowds.

By evening, about 200 protesters remained at the detention center; the Los Angeles Police Department (LAPD) ordered them to disperse, authorizing the use of less-lethal munitions if necessary.

Saturday, June 7, 2025

In Paramount, protesters observed Department of Homeland Security officers staging near a Home Depot, and soon around 1,000 demonstrators gathered.

Protesters blocked streets with shopping carts and recycling bins; federal agents deployed flash-bang grenades and pepper balls. At least two people were injured, and a reporter was shot in the back with a rubber bullet.

In Compton, demonstrators threw glass bottles, and an abandoned car was set on fire. Meanwhile, the LAPD issued dispersal orders and used tear gas to break up crowds.

That evening, President Donald Trump announced he would deploy 2,000 National Guard members to Los Angeles, citing the need to restore order and protect citizens from what he called “radical left protests” and “troublemakers.”

By the end of the day, ICE reported 118 illegal immigrants apprehended in Los Angeles.

Sunday, June 8, 2025

Protests continued in downtown Los Angeles, with demonstrators gathering outside federal buildings and the Metropolitan Detention Center.

LAPD declared an unlawful assembly and ordered protesters to disperse, and the police shut down parts of the 101 Freeway after protesters blocked traffic. National Guard troops arrived to support law enforcement, and skirmish lines were formed.

Protesters threw objects at officers, and several vehicles — including five Waymo driverless cars — were vandalized and set on fire. Arrests were made throughout the day, and both police and protesters sustained injuries.

Gov. Gavin Newsom criticized the National Guard deployment as unnecessary and a breach of state sovereignty, while President Trump defended his decision, stating he would not tolerate violence against law enforcement or property.

This morning, Los Angeles remains uneasy as police maintain an unlawful assembly designation for downtown. But events over the weekend reflect a city on-edge from federal immigration enforcement, mass protests and the deployment of military resources.

For middle class Californians? The ongoing unrest only adds to the challenges of living in a state where rising costs, crime and now civil instability make it harder and harder to call California home.

Market Rundown for Monday, June 9, 2025

S&P 500 futures are up 0.15% to 6,015.

Oil is up 0.75% to $65.05 for a barrel of WTI.

Gold is down 0.30% to $3,336.10 per ounce.

And Bitcoin’s up 1.30% to $107,725.

“Thank you for the touching and poignant reminder on Memorial Day, Matt,” writes Dennis M.

“It’s important to remember the real cost of freedom and the lives given for our country.”

Meanwhile, the Epstein saga continues to stir strong feelings: “Kash Patel and Bongino are now with the swamp,” says Joyce W. “This was a surprise to me. I believed they would clean up the corruption in the FBI. I have no respect for either of them.”

But not all readers are convinced of a cover-up. Mark F. writes, “I have a great deal of respect for both Patel and Bongino. If they say Epstein committed suicide, then I believe it. They’ve seen the files and know more than we ever will. Sometimes the simplest answer is the truth.”

Per Walmart’s role in the U.S. economy, Tom H., points out: “Walmart’s dominance has come at the expense of small-town America. Now, when prices go up, there’s nowhere else to shop. They’ve made us dependent on cheap imports, and when tariffs hit, it’s the American consumer who pays the price. Walmart should eat the cost of tariffs.”

Finally, today, Steve R. offers this perspective: “Yes, prices may go up for a while, but if tariffs mean we rebuild American manufacturing and jobs, I’m willing to pay more at Walmart today for a stronger country tomorrow. Short-term pain, long-term gain — that’s how you win back independence.”

Moving on, the Trump administration is charging full speed ahead with a plan to unlock Alaska’s vast energy potential. And it’s a move that echoes Jim Rickards’ “American birthright” thesis…

Your Rundown for Wednesday, May 12, 2025...

America’s Energy Awakening

On Monday, officials led by Interior Secretary Doug Burgum announced a sweeping proposal to open up millions of acres in the National Petroleum Reserve-Alaska (NPR-A) for oil and gas drilling, reversing the Biden-era restrictions that put more than half the reserve off-limits.

The NPR-A is no small patch of land — it’s a 23-million-acre expanse, the largest single tract of public land in the country, rich in energy resources and long viewed as a strategic asset.

For decades, Alaska’s leaders and energy industry have pushed back against what they see as federal overreach and unnecessary red tape.

Now, the Trump team is making good on its promise to “get the federal government out of your way,” as Burgum put it, and put American energy workers back on the job

President Trump aims to double the oil flowing through Alaska’s pipeline system plus advance a major liquefied natural gas project, with interest from Japan, South Korea, Taiwan and the Philippines.

Many Alaskans — including Native leaders who felt sidelined under Biden — are welcoming the renewed focus on jobs and revenue.

And just days after the Alaska announcement, the White House moved to reopen Utah’s Velvet-Wood uranium mine, dormant since the 1980s.

Thanks to a “national energy emergency” order, the mine’s environmental review was approved in just 11 days — lightning speed compared to the usual process.

The goal? Boost domestic uranium production and cut reliance on foreign adversaries like Kazakhstan and Russia, all while expanding the mine’s footprint by just three acres.

The message is clear: America should use its own resources to secure prosperity and independence.

And these latest ventures are just two examples of the Trump team’s commitment to reclaiming what Jim Rickards calls America’s birthright — a $150-trillion endowment of natural resources.

Market Rundown for Wednesday, May 12, 2025

S&P 500 futures are up 0.70% to 5,985.

Oil is up a fraction of a percent to $63.40 for a barrel of WTI.

The price of gold is up 0.20% to $3,381.70 per ounce.

And Bitcoin is up 1.55% to $103,750.

America’s true wealth is buried under the surface of the earth — and buried under layers of red tape.

According to Paradigm’s macro expert Jim Rickards, this “American Birthright” is a $150-trillion endowment of critical resources locked away on federal lands.

But a landmark Supreme Court ruling — as well as President Trump’s executive orders — have implemented sweeping reforms to accelerate domestic critical-mineral production by slashing bureaucratic delays.

To help you stay up to speed as Jim’s thesis plays out, here's a step-by-step breakdown of the streamlined permitting process under the new framework:

1. Project Submission & Priority Designation

Mining companies now submit applications directly to the National Energy Dominance Council (NEDC), which fast-tracks projects producing minerals like uranium, copper, gold and rare earth elements.

The NEDC has 10 days to identify projects eligible for expedited review and 15 days to nominate them for FAST-41 status — a program that mandates strict timelines for federal agencies.

2. FAST-41 Transparency Portal Integration

Approved projects are added to the Federal Permitting Dashboard, a public tracker requiring agencies to publish deadlines and progress updates.

This system prevents indefinite delays by forcing accountability: if a permitting decision misses its deadline, the project automatically advances to the next stage.

Your Rundown for Wednesday, June 4, 2025...

From Red Tape to Green Lights

3. Interagency Coordination

The Permitting Council assigns a lead agency to coordinate reviews across all stakeholders (EPA, Interior, Energy, etc.).

This eliminates redundant steps; for example, a single environmental impact statement now satisfies requirements for the Clean Water Act, Endangered Species Act and National Environmental Policy Act.

4. Accelerated Environmental Review

New rules compress the review timeline from 4-10 years to 18-24 months by:

• Limiting public comment periods to 45 days (down from 90+)
• Accepting existing environmental studies from similar projects
• Exempting expansions of existing mines from new reviews.

5. Financing & Incentives

Projects gain access to:

• Defense Production Act funds for infrastructure development
• Low-interest DOE loans covering up to 80% of construction costs
• Tax credits for processors meeting domestic content thresholds.

6. Key Regulatory Changes

• Critical minerals list expanded to include uranium, copper, potash, gold and others deemed essential by the NEDC.
• “One Federal Decision” policy forces agencies to resolve disputes within 30 days.
• Projects on federal land no longer need separate state permits if they meet federal standards.

This framework has already added 20 mining projects to the FAST-41 dashboard since April 2025, with dozens more in the pipeline.

While environmental groups argue the changes weaken protections, administration officials emphasize that streamlined permitting doesn’t equate to lowered standards — it simply imposes discipline on a previously dysfunctional system.

Reforms, it should be noted, position the U.S. to potentially double domestic production of lithium, cobalt and rare earth elements by 2028, reducing reliance on China from 80% to under 50% for key minerals.

For mining firms, the new rules create a predictable pathway from exploration to production within 3-5 years, compared to the previous 7-15 year timeline.

As Jim Rickards argues, this is more than just a financial opportunity; it’s a historic chance to restore America’s self-sufficiency and global leadership.

Stay tuned as more barriers continue to fall and America finally taps into its vast resources.

Market Rundown for Wednesday, June 4, 2025

S&P 500 futures are down 0.10% to 5,975.

Oil is down 0.15% to $63.30 for a barrel of WTI.

Gold’s up a fraction of a percent to $3,377.60 per ounce.

And Bitcoin’s down 1.20% to $105,000.

It’s been decades since California was the envy of America, with booming suburbs, world-class schools and a thriving middle class.

Last year, for instance, Donald Trump called California a “Paradise Lost,” blaming Democrat policies for turning the state into a “hellscape” — a cautionary tale of what happens when radical policies crush the very people who built it.

Let’s start with the facts…

Since 2010, an astonishing 8.5 million people have left California, with 690,000 exiting in 2023 alone, according to the U.S. Census Bureau. No other state comes close to this level of out-migration.

And these aren’t just retirees looking for a few tax breaks or remote workers looking for cheaper housing.

They’re middle-class families — people who work, pay taxes and try to get ahead — being driven out by a cost of living that’s spiraling out of control.

The numbers are brutal:

• The median home price in California is forecast to hit $909,400 in 2025, more than double the U.S. average.

• Gasoline? California drivers currently pay around $5.00 a gallon, compared to $3.00 nationwide, and experts warn prices could skyrocket to $8 by 2026.

• Electricity rates are just as punishing: At $0.30 per kilowatt-hour, Californians pay twice the national average.

Overall, the cost of living in California is 45–50% higher than the national average, with housing and utilities costs a respective 116% and 31% above the rest of the country.

Who can afford this? Especially when the average annual salary in the state is $68,917.

Your Rundown for Monday, June 2, 2025...

Billionaires, Paupers and the “Abundance Agenda”

If you’re wealthy, you can afford to stay for the weather and the views. And if you’re poor, California’s generous welfare programs offer a better deal than many states.

But if you’re in the middle — earning too much for government handouts but not enough to shrug off sky-high prices — California is a hostile environment.

And it’s not just prices…

Taxes in California are among the highest in the nation. The state income tax rate tops out at 12.3%; even middle-income earners face marginal rates of 8% or more.

Add in federal taxes, Social Security, Medicare and sales taxes (9.75% in Los Angeles County, for instance), and a middle-class family can see nearly half of every dollar earned go to the government.

Property taxes on a median-priced home in LA? That’s another $9,000 a year.

Meanwhile, Sacramento’s answer is to spend more — much more.

Per capita state government spending has more than doubled since 2010, with the 2025-26 budget at $322 billion, or $8,173 per resident — up from $4,696 in 2011 (adjusted for inflation).

Yet schools, crime, homelessness and affordability have all gotten worse.

Meanwhile, California’s over-regulated environment strangles small businesses and working families, all while claiming to fight for “equity” against the backdrop of a climate emergency.

The result? A quasi-feudal society of aristocrats and serfs, with the middle class squeezed out.

Enter the “abundance agenda” that some Democrats believe will save their party.

The groundwork for the agenda has been popularized by writers Ezra Klein and Derek Thompson in their 2025 bestseller Abundance.

Supporters of the agenda see it as a positive vision to fix America’s chronic shortfalls in housing, infrastructure and energy by streamlining regulations and making government more efficient.

They argue this is the key to restoring prosperity and winning back the middle class to the Democratic Party.

But many traditional Democrats view the agenda with deep suspicion, seeing it as a Trojan horse for corporate interests and a direct challenge to the party’s core values.

So, this conflict is about more than just reforming overregulation; it’s a battle over power within the party, with moderates hoping to carve out a new identity and progressives fearing the erosion of their influence.

But if Democrats keep pushing California’s model nationwide, they risk revolt.

Because millions of working Americans — many who are lifelong Democrats — are waking up to the reality that it’s not the party of the middle class.

The exodus from California proves the point.

The real question: Will the rest of America learn from California’s mistakes before it’s too late?

Market Rundown for Monday, June 2, 2025

S&P 500 futures are down 0.40% to 5,890.

Oil is up 4.70% to $63.66 for a barrel of WTI.

Gold is up 2.20% to $3,361.70 per ounce.

And Bitcoin is down 0.80% to $104,260.

Welcome to this week’s Five Links.

(Please note: In rare instances, certain articles may be behind a paywall).

Some weeks, these will include any new developments on Trump’s plan to unleash America’s wealth through deregulation and expediting permits so companies and investors can thrive again. We’ll keep an eye out on any new developments and pass them along with analysis.

We’ll also be bringing other news in the economic, financial and political world worthy of your attention to your inbox as well. We hope you enjoy them to start off your week.

I. After Months of Street Fighting, SCOTUS Is Ready to Decide

For months we’ve been writing about the street fighting going on in the federal court system concerning President Trump’s efforts to close the border, deport illegal aliens, shut down government programs that undermine America’s best interests and fire useless federal employees, among other initiatives. At every turn, the enemies of making America great again have been fighting him in the courts. The federal court system has three levels – the district courts (which handle trials), the circuit courts (which handle appeals on points of law) and the Supreme Court (which resolves conflicts among the circuits and has the last word on important legal precedents). Trump has been losing badly at the district court level. These losses are almost exclusively at the hands of rogue judges appointed by Biden or Obama. (By the way, Trump’s opponents seek to file lawsuits in districts where the appointment of a Biden judge to hear the case is highly likely; a practice known as “forum shopping”). The abuses by these judges take several forms. The first is the issuance of a temporary restraining order (TRO) stopping Trump. TROs are issued with almost no briefs or hearings and sometimes the defendant (Trump) is not even notified. Many of these cases could wait for a more considered preliminary injunction or even a trial on the merits, but judges are racing to issue TROs. The second abuse is that the TROs are given nationwide effect. A district court judge is supposed to confine his orders to his particular district and to the named plaintiffs in the case to the extent possible. Instead, the anti-Trump judges are shutting down Trump on a nationwide basis involving millions of individuals. The third abuse is that the district court is ignoring separation of powers precedents and intruding egregiously on the powers of the executive branch including in matters such as defense, national security, foreign aid and diplomacy. There are literally hundreds of such cases. Trump has appealed almost all of them. The circuit courts are producing mixed results with a limited number of pro-Trump rulings but other rulings that allow trials to move forward at the district court level without undoing the TROs. Now the moment of truth has arrived. Appeals are finally being heard at the Supreme Court level. My expectation is that we will see 5-4 and 6-3 decisions supporting Trump and putting the rogue district court judges in their place. (Justices Alito, Thomas, Gorsuch and Kavanaugh have already indicated their support for Trump. Chief Justice Roberts and Justice Amy Coney Barrett are the swing votes needed to get the vote to 5-4 or better). Here is a good guide to some of the key pending cases and the Supreme Court’s schedule between now and the end of June – the traditional end of their term. Keep it handy. The legal fireworks are about to begin.

II. When The Green New Scam Collapses, It Falls Fast

Good analysts and real scientists have known almost from the start that the entire narrative about “climate change” was a hoax. I remember when talk about a “new ice age” was widespread in the 1970s. Then came the “hole in the ozone” in the 1980s. This was followed by fears of “global warming” in the 1990s. Then when the world did not actually get that warm, the propagandists switched to “climate change” in the 2000s. What all of these phony narratives had in common was that they were always wrong. To be clear, climate change is a real thing. There was a Roman Warm Period around 250 BC. There was a Medieval Warm Period around 1000 AD, which enabled the Vikings to build farms in Greenland. There was a Little Ice Age from around 1350 to 1850 with an intense period of extreme cold around 1650. The Thames River in London was frozen over and “ice fairs” were staged by merchants on the ice. None of these climate change episodes had anything to do with carbon emissions. They were pre-industrial. Older ice ages were prehistoric. Climate change is slow and is caused by solar cycles, volcanoes, ocean currents and other large forces that have nothing to do with carbon dioxide, electric plants or automobiles. The Green New Scam has never been anything other than a false neo-Marxist narrative designed to transfer trillions of dollars of wealth from developed economies to China and other developing economies with the elite scammers acting as middlemen to skim billions of dollars for their own benefit. The good news is that with the scam exposed, the Trump administration is dismantling idiotic regulations and prohibitions as quickly as possible. All of those ridiculous regulations on shower heads, toilets, dishwashers, gas stoves, washing machines and other everyday appliances are being repealed. Billions of dollars of wasteful green energy projects are being cancelled and the money preserved for better uses. Despite this progress on dismantling the Green New Scam, some individual Democrat states are continuing to waste their taxpayers’ money. New York State just approved $1 billion in expenditures on “decarbonization.” Never mind that China is building five new coal-fired electric plants per week and New York’s efforts won’t even show up in global measurements of carbon emissions. Nothing can stop a climate ideologue like NY Governor Kathy Hochul from wasting money if it passes her feel good test. Too bad for NY taxpayers, but the rest of us are finally catching a break. For the past 50 years, the Green New Scammers have been declaring the world would end in ten years and they have been wrong every time. Their credibility is now at zero and it’s never coming back. The scam is over.

III. Democrats Scream “No One Is Above The Law!”. Now That Applies to Them.

How often have Democrats yelled “No one is above the law” in the past ten years? They aimed that claim at Trump during his first two phony impeachments. They aimed it at Trump again through his NY loan document trial that cost him $600 million. (That judgment is now on appeal). They yelled it again during the Stormy Daniels trial in New York, which was such a miscarriage of justice even progressive lawyers couldn’t figure out what the charges were or how they were justified by the facts. (That conviction is also on appeal). And the Democrat loonies also screamed it during the Georgia vote fraud prosecution of Trump. (That case has fallen apart because the prosecutor was funneling state money to her lover, which he used to take her on exotic vacations). The claim “No one is above the law” was also being heard when an FBI goon squad stormed Roger Stone’s door at 3:00 am and arrested him in his pajamas while terrorizing his wife who was sleeping in their bed. It was also the Democrat battle cry when Trump advisors Peter Navarro and Steve Bannon were sent to federal prison for asserting legitimate executive privilege, which Joe Biden chose to ignore. It’s not clear if Biden pushed for those prosecutions or if it was authorized by his autopen. Well, now the shoe is on the other foot. Last week, a group of three Democrat congressmen from New Jersey and the mayor of Newark, NJ stormed an ICE detention center for illegal alien criminals. They assaulted ICE officers and tried to break into the center. The mayor was arrested, and the three congressmen may yet face criminal charges. At a minimum, those congressmen may be stripped of the committee assignments in the House of Representatives and possibly face censure. Members of Congress do have a right to inspect government facilities under their jurisdiction. But that’s not the same as the right to storm the building and endanger law officers. There are standard ways of making appointments and arranging tours that are always respected. These congressmen didn’t want a tour – they wanted a riot, and they got one. Of course, the Democrat leadership has rallied around these violent publicity hounds. AOC and Hakeem Jefferies have threatened Republican leadership and the Trump administration with resistance if the rioters suffer any legal consequences for their actions. Too bad. We need accountability and need to end the legal double standards. Someone should remind the Democrats that no one is above the law.

IV. The Western Diplomatic Clown Show on Ukraine Continues

It’s not clear to me when the U.S. stopped producing world class diplomats. Whether you agree with their policies or not, there’s no dispute that the long line of U.S. diplomats from Dean Acheson to John Foster Dulles, Dean Rusk, Henry Kissinger, George Schultz and James Baker produced momentous agreements that changed the history of the world and preserved the national security of the United States. Beginning with Bill Clinton, we began to have second-rate national security advisors and secretaries of state including Sandy Berger, Hillary Clinton, John Kerry, Rex Tillerson, Tony Blinken, and Jake Sullivan. In succession, they have produced wars in Serbia, Iraq, Afghanistan, Libya, Ukraine and Yemen with India-Pakistan next in line. Until recently, my friends in China would ask me, “Why can’t you guys give us another Kissinger?” Henry Kissinger was in his 90’s at the time and the Chinese revered him but didn’t understand why we couldn’t produce more great diplomats. The latest example of U.S. diplomatic incompetence is the “summit conference” in Istanbul last week intended to end the war in Ukraine. Istanbul was the site of a peace conference in March 2022 that almost ended the war soon after it started. But that agreement was blown up by Joe Biden and his flunky Boris Johnson. Zelensky said he would go to the new meeting in Istanbul, but that was a publicity stunt because Russian President Vladimir Putin had already made it clear that he would not attend. Putin will discuss an end to the war, but he will not agree to an unconditional ceasefire unless those terms are spelled out in enforceable form. Zelensky was insisting on an unconditional ceasefire knowing that Russia would not agree. Why should Russia agree? They are winning the war. The war will end on Russian terms and not any other. Russia also won’t talk to Zelensky because he’s a military dictator (his presidential term ended in May 2024) and has no authority anyway. This “summit” was done so that Zelensky could posture as a “peacemaker” and blame Putin as the one who “refuses to talk.” That is all just another western narrative lie. Until the West takes Putin seriously and internalizes the actual state of the war, then the slaughter will continue. Let’s hope President Trump can put an end to this war when he talks with Putin this week.

V. Who Were “Domestic Terrorists” According to Joe Biden? It Could Be You.

This is one of our more unusual links. It’s a copy of a recently declassified intelligence document. Prior to declassification, this document was classified as SECRET/NOFORN. The “secret” classification makes it sensitive but one level below TOP SECRET. The NOFORN label is short for “no foreign intelligence access.” In other words, this document could only be viewed by the U.S. intelligence community with a secret clearance or higher (and a need to know) but it was not meant to be viewed by any foreign intelligence service including the Five Eyes (U.S., UK, Canada, Australia and New Zealand), who are the closest allied intel services for purpose of information sharing. Some parts of this were labeled “U,” which stands for unclassified and FOUO, which means “for official use only.” All of this is blacked out except the U, but I had no difficulty reading behind the blacked-out sections because of my own experience dealing with classified documents at the CIA. The title is imposing. It’s called the “Strategic Implementation Plan for Countering Domestic Terrorism.” That sounds critical. Domestic terrorists could include anarchist groups like ANTIFA or racists groups like Black Lives Matter. It could also include domestic cells of foreign terrorist groups such as Al Qaeda or ISIS. So many terrorists were allowed into the United States by Biden’s open border policy that it would come as no surprise if they had established a network of cells. Other sources of domestic terrorist could include the MS-13 gang based in El Salvador or the even more violent Tren de Aragua (TDA) gang from Venezuela. Mexican drug cartel cells are another source of domestic terror aimed at U.S. citizens. That’s quite a list of bad actors. Are those the groups the Biden administration was targeting for counterterrorist action? Actually, no. If you read the document carefully and cut through all of the bureaucratic jargon, you’ll see that Joe Biden’s real targets are … you and me. The document refers to the “role of gender women/girls and youth” as a marker of terrorism. In other words, if you oppose men in women’s sports or genital mutilation of children, you’re a terrorist. Other terrorist suspects include “active service military members.” The policy also calls for providing “financial intelligence.” In other words, the government will work with the banks to spy on your bank accounts and credit cards. It also calls for programs to “foster social cohesion”, which means support for Democratic woke policies. A plan to “mitigate xenophobia” means you are a terrorist if you oppose open borders. This document is nothing less than an intelligence community plan to indoctrinate Americans and stifle domestic political dissent. It’s repugnant. Good riddance to Biden and his neo-fascist agenda. By the way, we have the new National Director of Intelligence (DNI) Tulsi Gabbard to thank for declassifying this Biden administration garbage. Just as Pam Bondi at the Justice Department has been working to release the Epstein and JFK files, Gabbard has been working to declassify intelligence community documents that cover-up Biden administration wrongdoing. Declassifying a document labeling everyday Americans as “terrorists” is a good start. Hopefully it won’t be the last declassification.

This week’s mailbag included some geopolitical questions on the Pakistan – India conflict, the BRICS summit, and the U.S. – Saudi connection.

Here are a few questions:

Q: How should investors react to the recent Pakistan/ India conflict? – Stuart S. 

A: In regard to this conflict, we are on the brink of an existential war between two nuclear-armed powers.  If this aggression escalates to the brink of nuclear war or a nuclear attack actually takes place, it’s not inconceivable that the U.S. or perhaps a joint U.S.-Russia mission would attack and destroy both the Pakistani and Indian nuclear weapons system in a way that did not set off a nuclear explosion (radiation leakage may be an unavoidable byproduct of such a raid but it would be localized). The purpose would not be to choose sides in the conflict. The purpose would be to eliminate an existential threat to the human race. A game theoretic approach might call for this outcome to be communicated to India and Pakistan in advance to avoid escalation in the first place. With trade and tariff wars in full swing, the last thing the world needs is a shooting war between two nuclear-armed powers. Still, that’s where we are. The best hope is that a ceasefire will hold, and steps can be taken to mitigate terrorist attacks if not the entire Kashmiri territorial dispute. But Pakistan’s politics are perennially unstable, and India’s ruling party has staked out a nationalist pro-Hindu platform. Those realities make compromise more difficult. While Trump is trying to unwind conflicts in Ukraine and the Middle East and avoid new ones, this may be one conflict where U.S. mediation and leverage are required. Meanwhile, investors would be prudent if they reduced their exposure to risky assets like stocks and increased their allocations to safer assets including Treasury notes, cash and gold.

Q: What should investors know about the upcoming BRICS meeting being held in Brazil? – Sarah P.

A: The next BRICS summit in Rio on July 6 promises to be momentous in terms of announcements related to the continued development of this new financial architecture and possible new members. The BRICS will not be announcing a new BRICS currency. There was a lot of speculation about that two years ago at the Leaders’ Summit in South Africa. It didn’t happen then and it’s not happening now. In fact, there may not be a BRICS currency for many years, maybe ever. The BRICS will also not be returning to a gold standard. When we use the term “gold standard,” we’re referring to a system in which one or more currencies are pegged to a fixed quantity of gold and the currency is freely convertible into gold at that fixed rate. When more than one currency is on such a gold standard, those currencies are pegged to each other also by the transitive law. While the buzz about a new gold standard is overhyped, gold is still a central part of what the BRICS are all about. Those calling for a new BRICS currency seem not to realize that the BRICS already have a common currency – it’s gold! In effect, gold is a leading reserve monetary asset for BRICS central banks. When held in physical form in a safe location, gold cannot be frozen or stolen by the U.S. And gold is freely acceptable by the other BRICS members. The BRICS summit in Rio may disappoint those who are predicting a “global reset” or the “end of the dollar.” But it will be momentous, nonetheless. The key is to watch for important moves in a direction that enables us to see the future of the global monetary system. There will be plenty of that on display in Rio de Janeiro this July. In the meantime, get your gold while you still can.

Q: What could the close relationship between the United States and Saudi Arabi mean for oil prices? – Ken G.

A: Last summer, I wrote a series of articles for readers on what I called a Petrodollar 2.0 between the U.S. and Saudi Arabia. I described negotiations on a new financial and security arrangement that will supersede the old Petrodollar Deal. The new agreement would provide that Saudi Arabia will recognize Israel as part of the broader Abraham Accords initiated during the first term of the Trump administration. The U.S. would continue to offer security protections to The Kingdom but those will be expanded to include uranium enrichment technology. On the financial side, Saudi Arabia would continue to price oil in dollars but could agree to be paid in other currencies, primarily euros. The Kingdom would also continue to purchase Treasury securities alongside its holdings of gold. In short, not much would change from the current Petrodollar Deal except for the enhanced security guarantees. The reason Saudi Arabia allowed the existing deal to lapse was to gain leverage in the new negotiations and because the old deal would be replaced by the new deal in all events. The reason for the delay is that Saudi Arabia cannot recognize Israel until the Gaza War is over. There’s an irony there because the Trump administration created the Abraham Accords and may be the one to complete the process by including Saudi Arabia under that umbrella. Trump’s close relationship with Crown Prince Mohammed bin Salman Al Saud and Trump’s visit demonstrates that it’s time for Petrodollar 2.0. This will stabilize oil prices and make the dollar stronger in global markets.

(Please note: In rare instances, certain articles may be behind a paywall).

Some weeks, these will include any new developments on Trump’s plan to unleash America’s wealth through deregulation and expediting permits so companies and investors can thrive again. We’ll keep an eye out for any new developments and pass them along and include some analysis.

We’ll be bringing other news in the economic, financial and political world worthy of your attention to your inbox as well. We hope you enjoy them to start off your week.

I. More Proof That Mainstream Economists Are Clueless About Trump

On occasion, we highlight articles in which almost everything the writer asserts is not only wrong but dangerously so. And that’s the point. It’s not enough to read and circulate articles we agree with. It’s important to read material we disagree with in order to sharpen our analytic skills and defend our own positions. This is one of those articles. The author is Paul de Grauwe. He’s the Chair of European Political Economy at the European Institute at the London School of Economics. His title gives the game away. The London School of Economics is a fine school, but it’s notoriously left leaning. The fact that de Grauwe is a scholar of European Political Economy at the European Institute is another clue because there are a growing number of analysts who are questioning whether “Europe” even exists in the political or economic sense. It is a place on the map (although many question whether it's a “continent” or just an extension of the Eurasian landmass), but it has no political or economic unity. A political group called the European Union (EU) exists but does not include all of the countries in Europe. A monetary union called the Eurozone exists but its currency, the euro, is not used by all of the countries in the EU or in Europe. Politically, European governments run the gamut from Hungary (heavily pro-Trump) to Ireland and Scotland (Trump-haters). No European country is in a position to defend itself militarily without U.S. support. So, there’s something to the idea that Europe does not exist. Nevertheless, de Grauwe is a Europe scholar, which is better understood as saying he is a Globalist. Here are some of his more delusional ideas: de Grauwe says the U.S. stock market decline will derail Trump’s tariff plans because Trump will have to abandon his program to save his billionaire friends. That’s nonsense. MAGA is all about helping everyday Americans. Trump has even mooted the idea of raising income taxes on the rich. Trump has spoken about a stock market decline and possible recession as a price we may have to pay to transition to a new Golden Age economically. De Grauwe knows nothing about Trump or U.S. politics. His other idea is that the entire world should join together to defeat U.S. tariffs by applying economic pressure. He says the U.S. is only 15% of world trade so it’s possible for the 85% to apply pressure. The U.S. may be 15% of world trade, but it’s 27% of the global economy and 60% of global reserves. The U.S. is by far the most powerful economic and military country on the planet. And there’s no chance that the “other 85%” (as de Grauwe puts it) will agree on anything. What we have here is a case study in globalist delusions courtesy of LSE.

II. Why Are the Globalist “Champions of Democracy” Destroying Democracy?

How many times have you heard left-wingers and neo-Marxists scream about Trump destroying democracy? You hear it from the woke Democrats night and day on MSNBC, CNN, and shows like The View. You hear it from Mark Carney, the new prime minister of Canada. You hear it from Ursula von der Leyen, the president of the European Commission, the governing body of the EU. You hear it from the New York Times, the Washington Post and from commentators on ABC, NBC and CBS. You never stop hearing it. This claim is propaganda. We know that endlessly repeating claims that Trump is a “fascist,” “Nazi,” “dictator” and a “threat to democracy” is a tried-and-true technique for creating a narrative and getting the public to believe the narrative even if there’s no truth to it at all. But narratives actually are powerful and can have consequences in terms of public opinion and public behavior even if the narrative itself has no basis in fact. So, what’s the best way to rebut this narrative without more name calling? The best way is to look at hard facts and call them to the attention of the public. This will create a counter-narrative that the real threat to democracy comes from the woke politicians and not from Trump. What are the facts? In Ukraine, the West conducted a coup against a democratically elected president in 2014 and installed a puppet. Today, Zelensky is a dictator in Ukraine – his term as president expired in May 2024. In France, Marine Le Pen, the popular nationalist leader of the National Front party and potential future president of France, was convicted of crimes that are petty by French standards. (Her case is on appeal). Clearly, she was singled out for political prosecution in the same way Trump was. In Georgia, the conservative Mikheil Kavelashvili was elected president, but his EU-backed predecessor refused to recognize the election result. In Romania, the pro-Trump presidential candidate Calin Georgescu won an election six months ago, but that result was annulled by corrupt judges. It took a new election for another nationalist candidate, George Simion, to win. And a few days ago, the German spy agency branded the pro-Trump nationalist party Alternative for Germany (AfD) as an “extremist” group, subject to special spying and exclusion from government agencies despite its strong election showing in recent elections. What all of these stories and others like them have in common is that globalist left-wing elites are trashing democracy every chance they get. When a nationalist or pro-Trump party advances anywhere in the world, they use prosecutions, corrupt judges, the media, or on-call activists to shut down democratic processes. The next time you hear some globalist shout about “threats to democracy,” ask them about Ukraine, Le Pen, Kavelashvili, Georgescu, Simion and the AfD. Turns out that the ones yelling about democracy are the real threat to it.

III. Here's How to Use Lies and Propaganda When the Truth Is Not On Your Side

Why are so many lies so popular? Most Americans believe climate change caused by human CO2 emissions is a threat to the planet. But there’s no evidence that CO2 affects climate in a material way and the evidence for natural climate change (which does occur over time) is scant. In any case, the causes of climate change are events like solar cycles, volcanoes and ocean currents that humans can’t do anything about. Millions of Americans believe that Russia interfered with the 2016 election and that Trump is a Putin puppet. But after multiple investigations, there’s no evidence of that either. Americans were told that the COVID virus came from a “wet market”, but the evidence is clear that it was bioengineered in a military lab in Wuhan, China. Americans today are being told that tariffs will cause higher prices and inflation. But, in fact, prices are dropping. Oil went from $75.00 per barrel to $59.00 per barrel in just a few months. There are many other examples. Where do these false narratives come from? This article describes the process. Step 1 is to create a narrative. Truth doesn’t matter – just pick a narrative that suits your political purpose. Step 2 is to push the narrative through legacy media channels such as ABC, NBC, CBS, the Washington Post, the New York Times and others. Step 3 is repetition, repetition, repetition. It works. Step 4 is to create a “permission structure.” That means picking a spokesperson who’s just like the everyday American to speak up in favor of that narrative. That makes it “OK” for others to do likewise. Step 5 is to disparage anyone who challenges the narrative. Call them “conspiracy theorists,” “climate deniers,” “fascists” or whatever it takes to denigrate their point of view. At that point, you’re close to a successful narrative that is widely shared and believed even if it is completely false. Is there a way to fight back? Yes. It requires strong individuals who are not afraid of the name calling. It takes alternative media channels that don’t support the narrative and give counterarguments a place to be heard. Defamation lawsuits are a good way to make the legacy media pay millions in damages when they throw false accusations around. The best remedy is reality. Eventually, the lies are revealed when reality refuses to go along with the narrative. But that takes time, and the reckoning often comes long after the social and economic damage is done. The greatest way to fight back is just to understand the narrative process. Be analytical. Be skeptical. And don’t be afraid to call out the narrative lies whenever you see them.

IV. Another Step Toward the Destruction of The Dollar as A Global Reserve

Few topics in international finance are more confusing that the dollar’s role as the leading “reserve currency.” The confusion begins with the fact that country reserve positions are not actually held in currencies. They’re held in the form of securities denominated in a currency. So, it is correct to say that U.S. Treasury securities denominated in dollars are the leading reserve asset. But that’s not the same as saying that reserves are held in dollars. They’re not. That’s an important distinction because it points to the fact that it’s not enough to have a currency to be a reserve asset. You need to have a bond market. And not just any bonds. The reserve asset bond market needs to be quite large (some reserve positions are $3 trillion or more for a single country). The bond market needs to have various maturities from 30 days to 30 years (the U.S. Treasury is considering issuing new 100-year maturities called “century bonds”). It also needs liquidity provided by a dealer network (the “primary dealers” in the U.S.), futures and options markets for hedging, and above all, a good rule of law. The U.S. Treasury securities market provides all of the above. The only close competitors are Japan and Italy (which issues in euros), but that’s about it. The only other widely held reserve asset is gold. This is why the position of the U.S. dollar goes unchallenged despite threats about a BRICS currency, Bitcoin, and other assets. Those may have store of value potential, but they do not have bond markets and cannot perform a large role. Is there anything that could erode confidence in U.S. Treasury securities as the leading reserve asset? One factor could destroy confidence quickly, and that is a breakdown in the rule of law. What good is a large, liquid bond market if your bonds can be stolen with a few keystrokes? That’s exactly what’s happening to Russian reserves held in the form of Treasuries. The U.S. and Europe are stealing those assets from Russia, either to fund the war in Ukraine or to offset losses by western companies in Russia occasioned by the war. There’s not much Russia can do to stop the theft. There’s a lot the world can do to avoid U.S. Treasury securities when they’re no longer safe from U.S. confiscation.

V. Too Many Dangerous Criminals? Send Them All To Alcatraz.

As a kid, I watched The Untouchables. It was my favorite TV show. This was the original black-and-white televised version with Robert Stack, not the later feature film with Sean Connery and Kevin Costner. The best episode was called The Big Train, shown in two parts. The plot was simple. Al Capone was in a federal prison in Georgia. He was being transported to another prison by train. With help from a corrupt guard, Capone unlocked his leg irons at a critical junction. His cronies were there to meet the train and planned to take Capone to a hidden destination. Of course, Eliott Ness and the Untouchables got word and busted up the plan. The climatic scene was a street battle in which Ness and the Untouchables marched eight abreast with Thompson machine guns loaded with those round high-capacity magazines (and matching fedoras) to gun down Capone’s crew. The backstory was that Capone was leaving Georgia, but he was heading to the most notorious prison in U.S. history – Alcatraz. I was always fascinated by Alcatraz. It’s on an island in San Francisco Bay, not far from Angel Island and Tiburon. I’ve sailed around it. It certainly earns its nickname “The Rock.” The legend was that no one ever escaped, although two prisoners in 1937 and three in 1962 went missing. Their bodies were never found, so it’s impossible to verify if they actually escaped alive. Alcatraz was closed as a prison in 1963 and is now a tourist destination. Guess what? Trump just announced a plan to refurbish and reopen Alcatraz either as a prison for hard core U.S. prisoners or as a detention center for the worst of the worst illegal aliens awaiting deportation. I’m all for it. This idea is more than just a trip down memory lane. It’s a powerful warning to criminals everywhere that if they keep committing horrific crimes, they could very well end up where Capone did – The Rock.

This week’s mailbag included questions on China as a superpower, threats to the global financial system, and the best way to invest in gold.

Here are a few questions:

Q: Is China still on par with the U.S. both economically and militarily? – Barbara M.

A: Chinese GDP is often touted as a measure of success, but it is way overstated. Investment is roughly 45% of Chinese GDP compared to about 25% in most developed economies. Over half of Chinese investment is wasted. I’ve been to China many times and have seen the empty ghost cities and the monumental train stations that are mostly empty. If that wasted investment were written-off, Chinese GDP would drop from 5.0% to 3.6%. With honest accounting for bad debt in the government-controlled banks, Chinese GDP would drop to 2.0% or lower. China’s government debt-to-GDP ratio of 250% makes it impossible for China to grow faster than its growing debt burden. This dynamic makes future growth even more difficult. As for military superiority, China is not even close to U.S. capability despite the last administration’s cuts in spending on new weapons and combat readiness. China touts its lone aircraft carrier without mentioning that it was actually built by Russia. China is trying to build an aircraft carrier fleet, but that’s an immensely complex task that can take twenty years to fully implement. China threatens U.S. aircraft carriers with an attack from a Chinese hypersonic missile. That’s possible, but the U.S. response would be to sink the entire Chinese fleet – something similar to what Japan did to Russia in 1905, and the U.S. did to Iran in 1988. An invasion of Taiwan is not in the cards despite continual threats. So, the China threat is not what the mainstream narrative makes it out to be. It’s still a significant part of the global economy and a country to reckon with, but economic and societal threats will not keep China on par with the United States.

Q: What is the biggest threat to the global financial system today? – Martin S.

A: What the Fed and the Treasury have done (mostly under Biden) is to create a global dollar shortage, which is now morphing into a global liquidity crisis. China is not dumping Treasuries because they’re distancing themselves from the dollar. Quite the opposite. China is selling Treasuries because they’re desperate for dollars and can’t get them from Japanese banks who have their own problems. The liquidity crisis then goes back to European banks who can’t fund in Eurodollars and U.S. hedge funds who can’t find collateral to support their derivatives basis trades. India is not immune either. The best description of a financial crisis I’ve ever heard is that “Everybody wants his money back.” We’re dangerously close to that situation right now. If it gets worse, trade, tariffs and stock markets will be a sideshow. Watch Treasury yields and foreign exchange markets if you really want to know what’s going on.

Q: In your view, what are the best ways to invest in gold? – Larry P.

A: My long-time readers know I recommend allocating 10% of investable assets into physical gold. There are other options available as well, including buying paper gold like exchange-traded funds as well as shares of mining companies. There is also a way to collect gold profits without ever investing in the metal itself or investing in any companies that deal with the exploration or production of gold. Gold royalty and streaming companies have one of the best business models in the entire precious metals sector. Here is how the “royalty” business operates. In exchange for an upfront payment, a royalty owner will receive a predetermined percentage of the gross revenue from a mine’s future gold production over that mine’s entire future life. When costs for mining fluctuate, or if they aren’t producing enough to meet expectations, it really doesn’t matter. Royalty companies still get a cut off the top. These backdoor plays are a way to trade gold with fantastic upside leverage, combined with much less downside risk. And because we see gold ready to shoot higher, these companies don’t even need that cushion — allowing them to bring in even higher profits that will spark a huge pop in gold royalty shares. We have made gains on some gold royalty stocks in the Strategic Intelligence portfolio and will be recommending more in future issues so keep an eye out for them.

I’m Byron King, senior geologist for Jim Rickards.

I’ve been working with Jim on various publications for many years and have crisscrossed the globe in search of the world’s best mining investment opportunities. You could say I have gained Jim’s trust by being out in the field and reporting back on the latest intel in the precious metals and energy markets.

That’s why I’m reporting on something Donald Trump did recently that most investors missed.

Trump signed an executive order that fast-tracks the federal permitting process to mine our mineral-rich Federal lands. And that’s a big deal. Why?

Because for many decades, America has been sitting on a $150 trillion fortune. But it’s been locked up by bureaucrats and anti-development regulation.

Now, though, and for the first time in several generations, the government is going to monetize America’s real, physical wealth. Not just with things like our nation’s gold reserves. But with all the priceless metals and resources hidden under the surface on our Federal lands.

Investors like you who tap into these minerals right now could become wealthier than you ever imagined. In fact, this secret store of wealth is so valuable, it could turn every legal U.S. citizen into a millionaire. This is your American birthright in action!

Thanks in large part to President Trump.

How did we get to this point? Let’s look at a map…

Along Came Trump

Now, I don’t work for President Trump, and he doesn’t call me on the phone to discuss policy. But I can think of two key drivers behind his efforts to unleash your American birthright.

First, look at the 2024 presidential electoral map, especially by county. Trump won the American heartland big-time.

2024 presidential electoral map by county. Courtesy Washington Post.

Trump wrapped up his win for president based on solid wins across the industrial Midwest, from Western Pennsylvania through Ohio and Michigan, over to Wisconsin. And while Trump lost overall in states like Illinois and Minnesota based on the urban vote, look at the rest of those jurisdictions. In suburban and rural areas where many current (and former) mines, mills, and factories are located, voters casted ballots for Trump.

Right away, you can see where the working-class vote came out for Trump. People voted for jobs, jobs, and jobs, and that point was central to Trump’s message. So anymore, when he talks about opening up America for renewal – the MAGA message, if not an American birthright – he reflects the desires of his voter base.

Another angle on Trump’s policies goes back to 2020, early in the pandemic. People realized that the U.S. no longer manufactures most of its medical products and supplies. Then (and even now), America imported massive quantities of items from overseas, especially China.

In other words, it dawned on many that the country’s medical supply chain relied on third-party foreign players. From antibiotics to pacemakers, blood thinners to bandages and much more, most U.S. medical products originated from abroad (eg, China and India), and still do in many instances. Or there’s the issue that the items may be manufactured domestically but with precursor chemicals from abroad. Right away, this became a national security issue.

Meanwhile, we’re now in the fourth year of the Russia-Ukraine conflict, and one glaring takeaway is that the U.S. lacks a sufficient industrial base to supply and resupply its military. Examples are legion and range from the inability to mass-produce ammunition like artillery shells and missiles, to the glacial pace of output for aircraft, ships, submarines and more, including the latest battlefield development, drones.

Arguably, the U.S. is a superpower only in a legacy sense, meaning that war reserve warehouses are filled with equipment and ammunition produced long ago, in factories that are no longer there; or if they’re still there, they have limited capacity.

Looking ahead, what if the U.S. had to fight a real war? Well, America is no longer that so-called “Arsenal of Democracy” you read about in history books. We have a strategic-level problem on our hands that the Deep State perma-bureaucrats in Washington do not want to publicize and overly highlight. Hey, they don’t care, and their paycheck always comes on time, right?

But the national security issue is real and absolutely concrete. Military power is the first derivative of industrial power, and Trump wants rapidly to rebuild U.S. industry to reenable military strength. Of course, people write long books about these topics, and this is only a newsletter article.

What do all these industrial goals have in common? The country needs minerals and metals in manufacturing, whether it’s for medical or military use. This is a framework through which to understand what we see with Trump and his policies.

The Man from Queens wants to open up America, to permit people to invest and reinvest in basic resources and wealth creation. He wants this land to be more for you and me to share the wealth, not just the special interests.

What Does It Mean to You?

What should you do as an investor? The short answer is to invest in American companies that will benefit from Trump opening up federal lands, reducing regulations on development, and moving to reshore industry. That is, own hard assets like energy and resources, plus of course, precious metals.

Shares in steelmaker Cleveland Cliffs (CLF), an American steelmaking play, offer upside if Trump’s metal tariffs remain in place for the longer term. Or look at a copper player like Freeport McMoRan (FCX), which has domestic and overseas production of red metal, along with a precious metals stream, extracting gold and silver from copper mining.

On the energy side, ExxonMobil (XOM) remains a solid play based on its domestic energy production, along with impressive future growth from its overseas operations, especially its giant discoveries offshore Guyana in South America.

With precious metals in the strict sense, keep Barrick Gold (GOLD) and Newmont Mining (NEM) on the table as strong plays that will only improve in a rising gold market. And Kinross Gold (KGC) also offers excellent upside opportunity as gold prices rise.

Please note, though, that some of these names are not official recommendations in our portfolio, although I keep an eye on all of them. I will keep you updated as needed.

In fact, a few of these names are included in your special report, The American Birthright: How to Claim Your Share of America’s $150 Trillion Mineral Endowment.

If you haven’t reviewed this report yet, I urge you to take a look at five American Birthright plays that could make you a fortune.

And stay tuned for more on American Birthright analysis and opportunities from Jim on his next briefing call live next Tuesday, April 8 at 10 am ET. You’ll get more information about this call in the coming days.

With that, I’ll sign off for now…

Thank you for subscribing and reading.