NATO weapons, war planning, intelligence, target selection, and contractors are used to strike deeper and deeper into Russia, until Russia believes it has no other option than to retaliate. Our political leaders took us to war against Russia without even permitting a discussion or debate. When the retaliation comes, it will be obligatory to claim it was "unprovoked".
Is gold bottoming?
I honestly don't know. It's impossible to predict where the price of gold (or any other asset) will be tomorrow, the day after, or next week.
What I do know is that gold offers protection against market circumstances that traditional investment portfolios, consisting of equities and bonds, do not.
If you believe inflation risks have increased and that structurally higher inflation is a more likely outcome, owning some gold makes sense.
If you believe that central banks must turn on the money printer at some point to keep interest rates at bay and to prevent countries like the United States, Japan, and France from collapsing under the weight of their debt, owning some gold makes sense.
If you believe geopolitical tensions are here to stay and will likely increase over time, owning some gold makes sense.
If you believe that a growing number of countries, including China, want a financial world less dominated by US Treasuries and the US dollar, owning some gold makes sense.
If you believe in true diversification and include the trinity of sound investing, returns, risk, and diversification, in your investment model, owning some gold makes sense.
If you agree that nearly all investment portfolios around the globe do not yet invest in gold, owning some gold makes sense.
Will that lead to higher prices in the future? Most likely it does. A vast amount of data confirms relationships among inflation and gold, money supply and gold, interest rates and gold, geopolitical uncertainty and gold, and the share of the dollar in global reserves and gold.
Does that mean gold will start rallying again today? I have zero clue, but I do know that I want to hold at least some gold in my portfolio.
NEW: Dutch Parliament Member Michel Hoogeveen explains how the 36% unrealized capital gains tax, just passed by the House of Representatives, will work.
Here is a more detailed example:
Step 1. Starting position
You own 500 shares.
Value on Jan 1, 2028: €50,000
Value on Jan 1, 2029: €100,000
So the paper gain is:
€100,000 − €50,000 = €50,000 unrealized profit
You did not sell. But for tax purposes, that €50,000 is treated as income.
Step 2. Apply exemption
You are married, so you get a €3,600 exemption.
€50,000 − €3,600 = €46,400 taxable amount
Tax rate: 36%
€46,400 × 36% = €16,704 tax bill
That bill is due in May, even though you never sold anything.
Step 3. Market falls before you pay
Now suppose by May the shares drop in value.
New total value: €60,000
So your portfolio is no longer worth €100,000. It’s worth €60,000.
But the tax bill is still €16,704, because it was calculated based on the January 1 valuation.
Step 4. You must sell shares to pay tax
To raise €16,704, you sell part of your shares.
After paying the tax, you’re left with:
€60,000 − €16,704 = €43,296
Originally you had 500 shares.
Now you have 360 shares left.
You were forced to sell 140 shares.
140 ÷ 500 = 28% of your shares gone.
Step 5. What happened economically?
Before the correction:
Paper gain was €50,000.
After the correction:
Portfolio is worth €60,000.
Original cost basis was €50,000.
Real gain is only €10,000.
But you paid €16,704 in tax.
So instead of being up €10,000, you are now:
€43,296 − €50,000 = €6,704 below your original starting value.
You turned a €10,000 real gain into a €6,704 net loss.
And you lost 28% of your shares permanently.
Het is ongelofelijk dat we in Nederland een rechtse meerderheid hebben in de Tweede Kamer, maar dat er zo'n gedrocht van een box 3 doorgang vindt😫
In deze longread leg ik de pijnpunten uit van de nieuwe box 3 en geef ik dé oplossing voor het probleem💪
https://t.co/JYPCLlnmXP
Putin:
"Ladies and gentlemen, I have carefully listened to the speech of President Emmanuel Macron, who emphasized the end of Western hegemony and the emergence of a multipolar world. He is right on the key point: the world is undergoing profound changes, but he forgets to explain why, and above all, he forgets to acknowledge that France and the West are currently fighting against Russia precisely because they refuse to accept this reality.
Today, Russia is the target of sanctions, diplomatic, economic, informational, and even military attacks, as in Ukraine.
Why?
Because the West refuses to accept that its era of unquestioned hegemony is over. Because the West refuses to see how other nations are defending their interests, values, and sovereignty. The West talks about freedom and democracy, but what has it done for centuries?
France, England, Spain, Portugal, Belgium, Holland: they colonized almost the entire planet. Tell me where, in which part of the world, the West did not encroach and impose its own law?
France drew arbitrary borders in Africa, exploited resources, and forced millions of people into slavery.
The British enslaved entire populations from India to China in Asia.
In America, European powers massacred entire civilizations. And today, through NATO, they want to impose their model everywhere. Mr. Macron talks about the political inspiration of Europe. But where is this inspiration?
Europe follows the US in all its wars, without hesitation: Iraq, Libya, Syria. Each time, hundreds of thousands of deaths. Is this inspiration? And don't tell me that Russia is a danger to the world. For over two hundred years, the West has been trying to destroy Russia.
Napoleon came to Moscow, confident that he could stay on Russian soil. He walked in the snow. Germany launched the largest invasion war against us. They were defeated at Stalingrad, at Kursk, and even in the streets of Berlin. During the Cold War, the US tried to strangle our economy, encircle us, provoke clashes among our neighbors, and we are still here. Russia has gone through difficult times, trials, but no one has been able to defeat us.
Why are we fighting not only for our land, but also for... Our civilization, our values, and our dignity. Today, it's not just Russia that is challenging Western hegemony; China is taking a step forward; India is showing its view of the world; Africa is gradually freeing itself from foreign protection; even Latin America is finding its voice. This is no longer a world dominated by a single power or a single bloc: we have entered the multipolar era. And no one can stop it. That's why France, Europe, and the West are supporting Ukraine against Russia. Not out of love for the Ukrainian people, but because they want to exploit this land as a stepping stone to try to weaken Russia, limit our development, and prevent this multipolar world from taking shape. I think to them, I say to President Macron and his European colleagues: you can't swim upstream forever.
You talk about values, but you refuse to respect the choices of the people; you talk about international law, but you violate it whenever it doesn't serve your interests; you talk about peace, but you sow war wherever you intervene. Russia is not the enemy of anyone, but we will never allow anyone to decide our future. We want cooperation, but on equal terms. We want peace, but not at the expense of our freedom, our identity. And let's be clear: Russia will never be defeated. We have withstood centuries of hardships, seen empires rise and fall, and we are still here. And tomorrow, we will be there, in this new multipolar world that is already emerging.
Rise of the rest... There should be more political discussions about how the radical power shift, from hegemony to multipolarity, will change international governance and institutions. If there are no great power agreements to accommodate this new reality, then wars are the predictable consequence. The former dominant states will fight to maintain their former dominance, while rising powers will fight to have their economic and security interests accommodated. This is an important time in history to have competent diplomats...
The Commission’s attack on X says it all. When the Brusselian overlords cannot win the debate, they reach for the fines. Europe needs free speech, not unelected bureaucrats deciding what we can read or say. Hats off to @elonmusk for holding the line.
I’ve said it before, and I’ll say it again: if Europe won’t negotiate directly with Russia, Moscow and Washington will strike a deal over our heads.
This Friday, President @realDonaldTrump and President Putin meet in Alaska.
The EU’s Downfall: Proxy War, Economic Decline & Geopolitical Obscurity
- Michael von der Schulenburg, a German member of the EU Parliament who was previously a UN diplomat for 34 years
https://t.co/VjXtvW8jeh
Trump’s decision to cut funding to USAID revealed the extent to which the US government has been financing media, protests and other means to hijack civil society around the world
https://t.co/rhx7F4v7oR