News and Reports

American Birthright: Phase II Update

September 30, 2025 / dailyreckoning.com

President Trump is staying true to his “America First” agenda.His mission to use our nation's vast, untapped mineral resources to simultaneously address the nation's gargantuan $37.5 trillion national debt will free us from our widespread reliance on Chinese rare earths and other resources.Earlier this year, the president has already issued executive orders to access our nation’s...Read More

Resource Wealth Gushing Sky-High

September 29, 2025 / dailyreckoning.com

In the early days of oil exploration, incredibly rich formations were discovered just underneath the surface.In Texas in 1899, a company was formed to drill the Spindletop field, an area known for oil and gas seeping out of the ground.Drilling was still a new science, so it took a few years to strike the oil. But once they did, oh boy...The Lucas Gusher, as it became known, spewed out around 120,0...Read More

Charlie Kirk, Antifa, and Free Speech

September 27, 2025 / dailyreckoning.com

Yesterday President Trump announced he would designate Antifa as a "major" terrorist organization.He called the group a "sick, dangerous radical left disaster".An accurate description.POTUS said he would recommend that Antifa's funders be "thoroughly investigated".The right celebrated on social media, joking about George Soros being perp-walked like Hannibal Lecter.Everyone on the right despises A...Read More

Legally Bondi

September 26, 2025 / dailyreckoning.com

U.S. Attorney General Pam Bondi is easily President Donald J. Trump's worst appointment.I honestly don't know how he could get it so wrong. Bondi has done nothing worthy of note, other than saying she's going to do something of note. No Epstein files. No disclosure of her lobbying work was made during the confirmation process. And now this, perhaps the most disgraceful of all.Hey, Pam! The United...Read More

Home Improvement

September 26, 2025 / dailyreckoning.com

Two big dots debt and war. Both are growing. What's the connection?Today, the Fed lowered interest rates, making debt more attractive. Fortune:On Sunday night the president told reporters: "I think you have a big cut" to come out of the Federal Open Market Committee (FOMC) meeting this week. He added: "I don't think he can help but cut. It's perfect for cutting."Trump has been pressuring Powell...Read More

The Baseball Card Bubble

September 25, 2025 / dailyreckoning.com

As a nine-year old kid, I distinctly remember learning that a Mickey Mantle rookie card had sold for $60,000 at auction.That was the beginning of an obsession with baseball cards.To be honest, I wasn't even a big fan of the game. My goal was to make a fortune by acquiring a rookie card of the next megastar: Ken Griffey Jr.All the profits from my illicit candy-selling business at school were funnel...Read More

Charlie Kirk Predicted: "AI Will Take Your Jobs in the Next Five Years"

September 24, 2025 / dailyreckoning.com

"This is my broad opinion on AI (artificial intelligence)," said the man speaking to a crowd of over 1,500 students at the University of Tennessee. "For about 95% of what all of you guys are studying, AI will take your jobs in the next five years."This comment is from last March, by the late Charlie Kirk during a visit to U of T's Knoxville campus. Kirk answered a student's question about studying...Read More

All Eyes on an Irrelevant Fed

September 23, 2025 / dailyreckoning.com

The Federal Reserve is irrelevant unless it's doing damage to the economy. Since the Fed is often doing damage to the economy, it does require our attention.Claiming the Fed is irrelevant seems outlandish. The Fed dominates the headlines. An upcoming meeting of the Federal Open Market Committee (FOMC, the Fed's interest rate policy group) on September 16-17 is already receiving outsized attention...Read More

Do Stocks Work as an Inflation Hedge?

September 23, 2025 / dailyreckoning.com

The 1970s are known as a "lost decade" for U.S. investors.The S&P 500 returned around -1.1% per year during the 70s. That includes dividends being reinvested, and accounts for inflation.Naturally, certain sectors outperformed. Gold and silver miners, oil stocks, and other commodity producers stood out.Hard assets did so well that by 1980, more than 30% of the S&P 500 consisted of oil and g...Read More

Is Gold Cooked?

September 22, 2025 / dailyreckoning.com

A tricky gold chart is making the rounds on social media.The Bloomberg chart in question shows that gold just surpassed its 1980 all-time high, if you adjust for CPI (official government inflation).Take a gander:At first glance, this might seem scary if you own gold and miners. Some will be tempted to sell their precious metal investments based on this faulty chart.The problem, of course, is that...Read More

Pax Palantira

September 20, 2025 / dailyreckoning.com

The Pax Romana (Roman Peace) was a 200-year golden age in Rome's history.A series of five "good emperors", from Augustus in 27 BC through Marcus Aurelius in 180 AD, set the realm up for success.Augustus kicked off the Pax by centralizing command of Rome's legions and creating the elite Praetorian Guard.By this time, major rival powers had been subdued by the ascendent Roman Army.With Augustus' ref...Read More

Mercy to the Guilty Is Cruelty to the Innocent

September 19, 2025 / dailyreckoning.com

Two people who should still be with us are no longer with us.Iryna Zarutska, a Ukrainian refugee who rebuilt her life in Charlotte, North Carolina, with her family, was stabbed by a man who should never have been out on the street.Charlie Kirk, a star in conservative politics and co-founder and executive director of Turning Point USA, was assassinated in cold blood by a professional sniper.Differe...Read More

Charting the Gold Story

September 18, 2025 / dailyreckoning.com

Today we're going to do something a little different. Let's look at five critically-important charts which tell the story of this market.First up, the performance of gold miners vs other sectors in 2025.Source: Tavi CostaIncredible outperformance. Gold mining stocks are finally getting the respect they deserve. With spot metal prices soaring, profitability in this sector is exploding.However, we'r...Read More

Revenge of the Luddites: Part II

September 18, 2025 / dailyreckoning.com

The Industrial Revolution was, at least initially, a British phenomenon.It started off in the mid-1700s with a number of textile-related tech breakthroughs. The spinning jenny and the water frame made productivity in the sector soar.Traditional weavers, spinners, and other craftspeople quickly found themselves lacking steady work.Technological advances only sped up from there, with Watt steam engi...Read More

Declining Dollar, Rising Gold, and Combatting Normalcy Bias

September 17, 2025 / dailyreckoning.com

Today, we'll discuss gold, and its recent, upward price move along with the accelerating decline of the dollar, and by extension the global dollar system. The takeaway is that if you are not positioned in precious metals and miners, then you are not prepared for what's about to hit you.But first, I want to tell you what happened to me last week. Unexpectedly, I wound up over 540 feet beneath sea l...Read More

Perfect Competition Will Crush AI Profits

September 16, 2025 / dailyreckoning.com

Today's AI investment craze suffers from the same flawed assumptions that sparked past bubbles.Without a course correction, the U.S. economy faces a self-inflicted bust.In the mid-2000s, Wall Street's best and brightest were packaging subprime loans into complex securities and assuring the world they were safe. Regulators nodded. Rating agencies blessed them. Investors snapped them up.Few asked th...Read More

The Fuse is Lit

September 16, 2025 / dailyreckoning.com

Gold has broken out to new highs. It's currently trading around $3,640.Silver moved past $40 with gusto and is currently trading at $41.42/oz.Miners are churning out cash flow and starting to attract attention from the generalist investors.A few weeks ago we wondered where the generalists were in Tale of the Gold Miner Tape.The largest gold miner ETF (GDX) is up an impressive 63% so far in 2025.Ye...Read More

China's Not-So-Secret Weapon

September 15, 2025 / dailyreckoning.com

The Chinese Communist Party (CCP) put on a big show this week.To celebrate the end of WW2 80 years ago, Beijing conducted a military parade in Tiananmen Square.On display were a bunch of new hypersonic missiles, ICBMs, laser systems, fighter jets, bombers, nuclear torpedos, unmanned ground vehicles (UGVs), drones, and more.China's new DF-61 ICBMThe effectiveness of these weapons is largely unprove...Read More

Don't Get Shaken Out (Up or Down)

September 13, 2025 / dailyreckoning.com

In early 2009, I bought Apple (AAPL) shares during the crash. The price was around $4.60 (split-adjusted).By early 2010 the price had more than doubled and I decided to take profits. The fear of a "double-dip" recession seemed very real at the time.I missed out on a roughly 50x gain. Everybody's got stories like this one, but it's one of the moments which convinced me to always hold quality invest...Read More

King Dollar Is Losing to King Midas

September 12, 2025 / dailyreckoning.com

Stimulating though it is, working at Paradigm Press sometimes feels like you're part of a band of Cassandras railing against the end of times. Not the end of the world, just the end of the current world. The way things are. Business as usual, so to speak.However, business is becoming unusual at breakneck speed, although John Q. Public and his wife, Jane, are doing their best to ignore it. That's w...Read More

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