Operation Save America

Our email inbox filled up fast — with hot takes, personal stories and more than a few blunt critiques.

From the Bay Area’s new fare gates to an unforgettable Paradigm event… from California’s direction to war with Iran… there’s no shortage of conviction out there.

Let’s start light — then build from there.

“I enjoyed April’s Top Trader Challenge,” Tom D. writes.

“I love the concept of the challenge,” adds Bill G. “But I do not think any member of the Paradigm staff should be allowed to participate.”

Glad you fellas enjoyed our first-ever Top Trader Challenge. It was one for the record books. And yes — we’ve got a winner of the $50K grand prize. More on that later this week.

[Just to be clear, Bill: No Paradigm employees participated. We ran our own internal version of the challenge. The prize? Bragging rights. The winner? Trading wiz Greg Guenthner.]

From there, readers’ attention shifted to the West Coast…

Your Rundown for Monday, May 4, 2026...

From BART to the Battlefield

Several of you zeroed in on San Francisco.

Tom W., a Bay Area native, pushes back on giving the city too much credit: “BART is a Bay Area Transit System… an independently funded and governed entity from the City of San Francisco. The City should NOT get the credit. BART should be credited.”

Others weren’t focused so much on credit, but on what the system represents. Charles S., for instance, draws this throughline: “The logic behind those gates is the same as President Trump closing the U.S. border.”

Earl J. takes it a step further: “What worked for BART, works for the United States. Controlling borders reduces crime and corruption.”

That idea — control who comes in, change consequences — came up again and again. And it quickly widened to a discussion of California itself.

Tom P. writes: “I got tired of the California politics which has led to the decline of what was once a great place to live. I left three years ago and now live in Arizona.”

Jim M. doesn’t hold back: “Newsom is one of the most destructive governors of my lifetime living in California. Taxes are very high, roads are terrible and we don’t have the resources to fight fires. At this rate we’ll keep adding billions to the state’s deficit.”

Donna G. agrees: “Newsom is using California as a stepping stone to higher office.”

On energy, the debate is just as heated — but far less settled. Stephen R. isn’t buying the crisis narrative: “Where is the oil shock? I guess I will just have to wait for it,” he says, sending along the following image.

“This was the 1970s,” he recalls. “Try that now.”

Netherlands, 1973: Fuel shortages forced nationwide “car-free Sundays,” with empty highways and long lines at gas stations.

Jonathan R. adds: “A gallon of gas at $4.89 today would only be $3.88 in 2020… Energy is cheap, relatively speaking. Everyone is being so dramatic. There is more than enough oil.”

But others are looking at structural constraints. Martin C. writes: “America might claim to have all the oil wells we need, but refinery capacity limits the supply at the pump. We haven’t built a new large-scale refinery in decades. We need to start building.”

Dave C. offers a market-driven thesis: “I suspect gold and silver have dropped because central banks had to liquidate in order to get oil to their shores… whether to pay higher crude prices or even ransom for tanker passage.”

From there, the conversation moves to military decisions. “I very much support President Trump taking action in Iran. It was long overdue and necessary,” says Keith L.

But Richard S. warns: “I think this is another Iraq or Afghanistan — more good men dead and more debt.”

Which brings us to one final perspective today, grounded not in theory, but experience. A retired Air Force lieutenant colonel, shares this:

I was a pilot during Desert Storm. We left Saddam with a substantial ground force. This was the calculus of geopolitical-military operations. If the U.S. coalition destroyed Iraq’s military, everyone knew Iran would rush to take over and control the Middle East.

The sobering conclusion in my unit was that our sons and daughters would be back in 20–30 years. We knew this when we left large numbers of buried dumps with tanks, aircraft and mostly unknown military equipment.

Trump is right and has turned all of Iran’s neighbors to action, or supporting action, to rid the Middle East of radical Islamic culture and hopefully embrace the Abraham Accords. I see the strong possibility of ‘peace’ in the area — but follow the money.

In short: strong opinions, deeply held and often miles apart.

To everyone who wrote in, thank you. You’re paying attention. You’re thinking critically. And you’re speaking up.

That’s what makes this conversation worth having.

Market Rundown for Monday, May 4, 2026

S&P 500 futures are down 0.10% to 7,250.

Oil is up 1.40% to $103.40 for a barrel of WTI.

Gold’s down 1.50% to $4,574.50 per ounce.

And Bitcoin is up 0.20% to $78,900.

Gov. Janet Mills, a two-term Democrat and the first woman ever elected Maine’s governor, suspended her U.S. Senate campaign this week.

Her reason? “I very simply do not have the one thing that political campaigns unfortunately require today: the financial resources,” Mills said. 

She’d been recruited into the race by Senate Minority Leader Chuck Schumer, who viewed the seasoned politician as the safest bet to knock off Republican Sen. Susan Collins in November.

Safe, as it turns out, doesn’t pay the bills.

The man who starved her out of the race is 41-year-old Graham Platner — a combat veteran and oysterman from the tiny coastal town of Sullivan. Until about eight months ago, he was a complete unknown in American politics.

But Platner raised $1 million in his first nine days in the race, hauled in $4.6 million in the final quarter of 2025 and added another $4 million in the first three months of 2026.

Mills, by comparison, raised $2.6 million in that same first quarter.

Platner didn’t just outrun Mills — he handily lapped her.

Your Rundown for Friday, May 1, 2026...

Collins Just Lost Her “Safe” Opponent

Here’s the thing the party bosses in D.C. missed: Schumer wanted Mills because she was electable on paper.

But Maine Democrats wanted Platner because he’s relatable.

He’s held more than 60 town halls — not obligatory campaign stops, actual packed rooms — and built a small-donor machine with an average donation of $33.

He’s got endorsements from Bernie Sanders and Elizabeth Warren, and his message sounds like it could have come from either of them: Maine is getting too expensive because the government serves billionaires, not working people.

Collins, the five-term Republican incumbent and the only GOP senator representing a state that Kamala Harris carried in 2024, now faces a very different race than the one she was prepared for.

Still, she has a wall of outside spending behind her. In January, the main super PAC for Senate Republicans announced a $42 million investment in Maine to support Collins.

She’s also got real ammunition against Platner: old Reddit posts where he made comments about women and rape (for which he’s apologized) and a now covered tattoo, with Nazi origins, he says he got unknowingly while on leave in Croatia.

You better believe Collins will relitigate these controversies between now and November.

But consider a March Emerson College poll that showed Platner leading Mills by 27 points among Democratic primary voters — in a purple state where Mills was the only Democrat to win statewide in 20 years.

The Democratic Senatorial Campaign Committee, which had backed Mills, announced it will now support Platner. Even Schumer released a joint statement saying Democrats would “work with the presumptive Democratic nominee Graham Platner to defeat” Collins.

Collins told CNN she wished Mills well but declined to say whether the shakeup made her race harder or easier. Her non-answer probably tells you everything.

Market Rundown for Friday, May 1, 2026

S&P 500 futures are up 0.29% to 7,265.

Oil is down 2.12% to $102.84 for a barrel of WTI.

Gold is down 0.45% to $4,608.80 per ounce.

And Bitcoin is up 2.34% to $78,097.74. 

I go hard on California plenty, and for good reason. The state has a long record of stupid policies that make life miserable for everyday residents.

This time, I want to focus on a rare encouraging sign. (Credit where credit is due — Buck Sexton first brought this story to my attention.)

San Francisco seems to be getting more serious about public safety. And it’s starting with transportation.

For years, San Francisco transit has been ugly.

For anyone outside the Bay Area, Muni is San Francisco’s public system, run by the San Francisco Municipal Transportation Agency (SFMTA), which includes buses, streetcars, cable cars and light rail.

A 2025 Muni rider safety survey — required under California state law — found fewer than half of respondents felt safe on Muni most of the time.

It got worse from there. Sixty-two percent of riders experienced verbal harassment or hostile gestures, and half had witnessed a physical assault.

That’s an out-of-control system.

But the neighboring BART system — the Bay Area Rapid Transit train network that connects San Francisco to the broader region — decided to do something about it.

Your Rundown for Wednesday, April 29, 2026...

BART Shuts Down Gate Hoppers

Last year, BART finished installing new fare gates at all 50 of its stations. The old waist-high barriers were a joke; anyone who wanted to jump them did.

The new gates are a different story — engineered to be nearly impossible to beat.

Courtesy: BART

The results have been incredible. Crime’s down 41% at BART stations.

Time spent on corrective maintenance — cleaning up graffiti, vandalism and broken fixtures — fell 961 man hours in the first six months after fare gates were fully installed.

Ridership went up. Revenue from fare collection is now projected to increase roughly $10 million.

The system got cleaner, safer and more fiscally sound because of one infrastructure decision.

The Atlantic — not exactly a publication looking to validate law-and-order arguments — ran a piece framing BART’s turnaround as what writer Henry Grabar calls the “fare-gate theory.”

More specifically, to protect shared public spaces, human intervention isn’t always the answer. Sometimes the right physical infrastructure solves the problem.

Close the gate. Enforce the rule. Watch what happens.

It turns out the people who hopped gates were often the same ones responsible for the harassment, the vandalism and the general sense that no one was in charge.

San Francisco isn’t fixed. There’s still plenty to criticize, and there will be no shortage of future opportunities to do so.

But this moment is worth acknowledging.

Sometimes a city needs to decide that order still matters. And act accordingly.

That’s not a miracle. It’s just competence. Right now, competence is worth celebrating.

Market Rundown for Wednesday, April 29, 2026

S&P 500 futures are slightly in the green at 7,175.

Oil’s up 3.45% to $103.35 for a barrel of WTI.

Gold is down 0.75% to $4,573 per ounce.

And Bitcoin’s up 1.70% to $77,500.

You might think you already know which state ranks last in freedom.

California, right?

Not quite.

According to research from the Pacific Research Institute (PRI), California doesn’t rank dead last.

It ranks 49th.

“California’s economic performance has fallen sharply behind the rest of the nation,” write PRI researchers Wayne Winegarden and Kerry Jackson.

“[Had] the state simply maintained its 2021 peak share, California’s economy would be 4.6% larger today — the equivalent of roughly $14,000 per household.”

Fourteen thousand dollars. Lost to bad policy.

And residents? They’re leaving, too.

From 2010 through 2024, California lost nearly 3 million residents.

Among those who remain, the pressure is building. A 2026 survey finds roughly 34% of Californians have seriously considered leaving due to housing costs, while another 21% cite a lack of well-paying jobs.

“Outside of healthcare jobs, California’s private sector employment market is not just stagnating — it is shrinking,” Winegarden and Jackson report.

Which brings us to the next problem, one that didn’t start in Sacramento, but one its policies helped create.

Your Rundown for Friday, April 24, 2026...

Sacramento Handed Iran the Kill Switch

“The U.S. West Coast will become the poster child for the consequences of the attacks on Iran,” says energy economist Philip Verleger.

His warning: California drivers could face $10 gasoline.

That may sound extreme — until you look at where prices already are.

Drivers in Fresno, Modesto and Bakersfield were paying about $5.42 per gallon in mid-March, nearly $2 above the national average.

California’s mandated gasoline blend and limited pipeline access have effectively isolated it from the rest of the U.S. market, leaving it heavily reliant on energy imports from Asia.

“Continued erosion of California's refining capacity risks increased reliance on imported fuels that are slower to arrive, more exposed to global supply disruptions, and less reliable during emergencies,” wrote Chevron executive Andy Walz in a letter to state leaders.

Today, the state imports 63% of its oil from foreign sources — flows now being squeezed by disruptions tied to the Strait of Hormuz — despite sitting on at least 1.7 billion barrels of proven petroleum reserves that remain largely untapped.

But those vulnerabilities didn’t appear overnight.

Regulators constrained domestic production long before the strait’s closure, nudging drivers toward electric vehicles — whether or not they could realistically afford a $50,000 price tag.

At the same time, California’s Democratic leadership pushed out companies like Chevron and Tesla, watched roughly $1 trillion in wealth leave ahead of a proposed “billionaire tax” and built an energy system with no margin for error.

Now a Middle East energy shock hits — and finishes the job misguided policy set in motion.

“The exodus of businesses, jobs, and residents is communicating to policy leaders that the state needs to embrace a pro-growth deregulatory and tax-reform agenda,” the PRI report concludes.

But as usual, the effects won’t fall evenly.

In a K-shaped economy, the people making the rules are the least likely to feel the consequences.

Market Rundown for Friday, April 24, 2026

S&P 500 futures are up 0.30% to 7,165.

Oil’s down 0.15% to $95.70 for a barrel of WTI.

Gold’s slightly in the red at $4,720.20 per ounce.

Bitcoin’s up 0.45% to $78,130.

Even with President Trump saying he’s extending the tenuous Mideast ceasefire, Iran didn’t get the memo. This morning, we learned the IRGC has seized and/or attacked multiple vessels in the Strait of Hormuz.

Here’s what you can expect: Ongoing conflict will continue to hit the same pressure points — energy, shipping and supply chains. Prices will rise. Volatility will spike. Confidence will crack.

And the economy will likely move in one of two directions: inflation… or deflation.

Investors treat those as opposites. Gold doesn’t.

In the 1970s, when inflation tore through the system, gold surged from $35 to over $800 per ounce. That’s the version everyone knows — gold as the classic inflation hedge.

That’s the straightforward case for gold: protection against a loss of purchasing power and currency instability. We’ve seen it before, and we’re seeing the setup again.

But that’s only half the story.

Because inflation shocks don’t always last. Sometimes they burn out — and leave something potentially worse behind.

Your Rundown for Wednesday, April 22, 2026...

Gold Doesn’t Pick a Side

“Weak demand [is] driven by unemployment, falling asset prices and declining confidence. When people lose jobs or fear they might, they cut back on spending,” says Paradigm’s macro expert Jim Rickards.

“That reduction in demand leads to further job losses, creating a feedback loop that reinforces the downturn.”

That’s the mechanism for deflation. And it’s what can follow when a shock — war, financial stress, policy blunders — shifts from supply disruption to demand destruction.

History is unambiguous about how that plays out.

In the early 1930s, deflation crushed the U.S. economy. Prices fell, debts became unpayable and financial assets deteriorated.

FDR responded by revaluing gold, raising its price 69% in just five months, as part of a deliberate effort to break the deflationary spiral.

As American Enterprise Institute (AEI) economist John H. Makin notes, buying gold in 1931 or 1932 — right into the teeth of deepening deflation — “proved to be a brilliant move.”

The same pattern emerged in 2008. Real GDP contracted, inflation dropped below zero and markets seized. But gold rose anyway from about $700 per ounce in late 2007 to over $1,000 by early 2009.

According to CME Group’s analysis, gold’s surge during that crisis was driven by its status as a safe-haven asset. As stocks and real estate collapsed, investors sought the perceived safety of something that couldn’t be wiped out in a flash.

Deflation doesn’t just lower prices; it raises the real burden of debt. Stocks suffer as the real value of corporate debt rises and the profit outlook deteriorates — while the search for wealth preservation intensifies.

The mistake investors make is thinking they need to pick a side. Inflation or deflation. But both lead to the same destination: stress on financial assets, aggressive policy intervention and a desperate search for something that can't be diluted or defaulted on.

Cue gold.

So as this “ceasefire” clock winds down, gold isn’t betting on inflation or deflation. Either way, gold wins.

Market Rundown for Wednesday, April 22, 2026

S&P 500 futures are up 0.75% to 7,155.

Oil is up 0.20%, just under $90 per barrel.

Gold’s up 1% to $4,770.20 per ounce.

At the time of writing, Bitcoin is up 4% to $78,265

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.