The Federal Reserve may no longer be driving the market. The US Treasury and the White House have taken control of the liquidity lever.
We have now seen the same pattern several times. Markets wobble, bond yields become uncomfortable and suddenly liquidity arrives. Stocks recover at astonishing speed.
This is not the old Fed put. It is the Treasury put. Perhaps even the Trump put.
America needs colossal amounts of money to rebuild its industrial base, construct data centres, dominate AI and compete in robotics. That money must come from taxation, productivity, profits or the printing press.
I think we know which one they will choose.
In this video, I explain what this extraordinary shift could mean for stocks, gold, Bitcoin, inflation, bonds and the next great asset boom.
