⛏ The War Economy Returns

Bessent urges World Bank to shift funding towards critical minerals
Speaking at the IMF and World Bank spring meetings in Washington, Treasury Secretary Scott Bessent urged the World Bank to focus its green lending strategy on “high-quality, durable projects” focused on critical minerals mining and processing. Bessent, who manages the dominant US shareholding ​in the development lenders, argued that developing secure supplies of minerals such as rare earth is what really boosts economic growth and technological leadership. Read on »

War Economy Returns
With two active conflict areas in Eurasia - the Russia-Ukraine conflict in Eastern Europe and the U.S.-Iran theater in the Gulf - the world is moving deeper into a war cycle. The latest indicator is not only that militaries around the world are beginning to stockpile one-way attack drones, but also the early-stage push to convert underused civilian industrial capacity, including struggling auto production lines, into wartime manufacturing hubs. Read on »

Fort Knox Gold Scandal?
The big issue, Maharrey argues, is that Americans still do not really know what is in Fort Knox with any confidence. He stressed that U.S. gold holdings have not been properly audited since at least the 1970s. Read on »