What ‘Strategic Partnership’ Is Covering For in Pakistan’s UAE Relationship
A phrase has been circulating in Pakistani official messaging this year: the UAE relationship is moving "from enduring brotherhood to strategic partnership." It is...
Amnesty, States, and the Argument Both Sides Keep Missing
Every few months, somewhere in the world, a state expels or threatens to expel a category of foreign nationals, and the exchange that follows...
Institutional Money Is Rushing Into America. Central Banks Are Rushing Into Gold. Both Are Reading the Same Signal
TODAY'S NUMBERS:
4.94% (US 10-year Treasury yield, near a three-year high) · 289 tonnes (record Q2 central-bank gold buying) · $53.9bn (Gulf funds' record H1...
How Chinese Goods Reached Iran Despite Billions in Sanctions
Iran has created a barter-like system to bypass sanctions on its oil sales, allowing it to acquire billions of dollars in goods from China,...
The US Just Bombed Iran’s Shadow Fleet: What Happens to Oil, Banks and the Next Sanctions War?
TODAY'S NUMBERS:
$100 (Brent crude, after Wednesday's tanker strikes) · 4.92% (US 10-year Treasury yield) · $4,440 (gold, per troy ounce)
Oil and yields are climbing...
Xi’s India Visit Signals Diplomatic Thaw, but Business Ties Face Deep Distrust
Chinese President Xi Jinping is set to visit New Delhi for the annual BRICS summit, marking his first trip to India in seven years....
Trump’s Iran Campaign Risks Becoming America’s Next ‘Forever War’
When Donald Trump ran for a second term, he promised to be a “president of peace” and claimed he would end foreign wars rather...
Gold Up, Dollar Down, Yields Rising: What Kevin Warsh’s Fed Is Doing to the Reserve Currency
TODAY'S NUMBERS:
$4,388 (gold, per ounce) · 98.6 (dollar index, four-month low) · 4.8% (10-year Treasury yield, highest since 2023). Gold and yields normally move...
Xi’s Global South Tour Signed Zero New Dollars
Coalition-building requires new joint capital committed at the moment of political signaling. Hedging requires only showing up where the money already flows and collecting...
Why Gold Fell While Central Banks Kept Buying It
Gold used to spike on every Gulf war headline because the same buyers set both its price and its ownership. In 2026 those are...