�� MACRO REGIME SHIFT | CONNECT THE DOTS ��


�� $200bn Mortgage-Backed Securities buying announced

�� $40bn per month liquidity quietly injected by the Fed

�� Credit-card rates to be capped at 10%


Three headlines.

One direction.

This is not policy noise.

This is financial repression taking shape.


�� WHAT’S REALLY HAPPENING:

The US fiscal deficit is already out of control.

Debt issuance is being forced into the short end, because rolling long would detonate long-term yields.

The old, price-insensitive buyers are gone.

BRICS+ central banks are net sellers of US Treasuries, using the cover of a strong dollar and FX intervention.

Only Japan remains — and even that is by necessity, not choice.


�� THE CORNER THE US IS TRAPPED IN

The US government is the largest employer

Runs the largest freebies programme in the world
All funded by the reserve-currency privilege

Cut the deficit ➝ growth collapses

Don’t cut the deficit ➝ someone must absorb the debt

There is only one buyer left.

The Federal Reserve.


⚠️ A LINE HAS BEEN CROSSED:

The dollar-debasement trade just received a major boost overnight..

Jerome Powell made an unprecedented video statement, revealing that Trump is using the legal apparatus to explore criminal investigation threats — the real objective being to pressure the Fed into aggressive rate cuts, despite inflation on the ground suggesting otherwise.

This is extraordinary.

Something usually seen in fragile economies — never in a country issuing the world’s reserve currency.

This is not subtle pressure.

This is open revolt.

But we are not surprised.

�� THE ENDGAME:

In the mature phase of de-dollarisation, the US government has very few choices left.

To backstop yields
To monetise exploding deficits
To continue funding dole-outs and freebies

�� Control over monetary policy becomes inevitable

Yield Curve Control — without naming it

Debt monetisation — without admitting it

Dollar sacrificed — to save the system


�� THE TRADE | REAL MONEY WINS

This is exactly what we have been saying since the election.

�� Fiat loses pricing power
�� Gold absorbs value
⚪️ Silver accelerates

A slow, controlled value transfer is underway.

When we compare Nasdaq and Dow against gold and silver, bullion has outperformed for the last 7–8 years.

That tells you one thing clearly:
�� Currency debasement is running faster than financial-asset reflation
This trend is likely to continue into 2026.



Cycles are ruthless.

And this one is entering its decisive phase.

Real money never lies.