On Friday the inflation number came in at 3.4 percent and the futures market moved to better than 85 percent odds that the Federal Reserve raises interest rates next Wednesday. Take energy out of that 3.4 and it reads 2.4 — a whisker from the target. So the Fed is about to raise the price of money i
On Wednesday morning Hunter Biden's $LAPTOP token opened at eight cents and printed $339 two minutes later — a "market cap" bigger than BlackRock — before falling 99 percent in the hour. Biden says the market maker seeded the pool with $5,000. I wanted to understand how five thousand dollars can pri
Since June I have been building automated trading strategies with an AI coding assistant — about forty of them, on one small brokerage account. Twenty-five are switched off, a dozen are still simulating, and three trade real money. Every trading blog publishes its winners; here is the graveyard, wit
The Treasury tripled its next bond buyback to $6 billion, and long-term interest rates rose on the news instead of falling. That reaction looks backwards until you understand what a buyback actually is — not a repayment, but a swap that leaves the debt exactly where it was and moves the due date clo
Three institutions get lumped together in casual conversation, and they have three genuinely different jobs, three different owners, and three different relationships to the United Nations — one of them predates the UN entirely and was never made to join it. Here's what the BIS actually regulates, w