Spot VIX looks calm, but forward volatility tells another story. A steep VIX term structure and extreme skew show institutions aggressively hedging, signaling elevated risk and potential volatility spikes into year-end and early 2026.

Markets are stirring as CDNX pushes back toward the top of its October range, setting up a possible reversal, while precious metals stocks grind higher—SLV leads the advance and GLD breaks out to fresh all-time highs.

Since the turn of the century, central banks have been steadily increasing their gold reserves, a trend that has sharply accelerated in the last few years.

The two things that typically feature in an empire’s last chapters are excess spending...and unnecessary war. Both are self-inflicted wounds that fester…and eventually kill the host.

The economy of the future will be run by systems that anticipate demand before it arrives and move resources before humans even notice the need.