Opening Note…

Hi, welcome back again this week - and boy, has it been another crazy week?!

There’s so much happening that my news aggregator is burning up. War, threats, farming, scandal, fraud, media lies, bank manipulation… it’s relentless.

But in a way, it’s a good thing that some of these events are being exposed right now, because we’ve known for a long time that we were being lied to and manipulated.

Such as how I’ve been saying for years now, that these media narratives didn’t make sense. Who or what organisations were funding these media companies? Because the business model just didn’t add up. How were they making money? And now we’re finding out that many of them were getting outside funding… which has now been cut off.

This is great, because news should be unbiased, and we need to get both sides of every story - so that we can make our own minds up.

And quick announcement, the Digital Product Programs are moving ahead nicely now. I’ll let you know when the programs are ready. I’ve been working on them day and night for the last month to try to move the timeline forward.

Now, we’re looking at a discounted pre-release sale in March! Yes, next month.

Ok, let's break down the latest...

Table of Contents

• 1. Weekly Spotlight The CBO Just Showed Us the Mat …

• 2. Quick Takes

• 3. China Leads Global Gold Buying Spree as Central …

• 4. Market Overview

• 5. Faith & Success

1. Weekly Spotlight

The CBO Just Showed Us the Math on America's Debt Spiral - But The Markets Don't Care

Yesterday, while everyone was watching the tariffs mayhem, the Congressional Budget Office quietly published a report that confirms everything I've been warning you about. The numbers are finally here. In black and white. From the official scorekeepers.

But yet, nobody seems to care…

The CBO's February 2026 Budget and Economic Outlook landed on Wednesday, and it's exactly as grim as those of us paying attention knew it would be: U.S. debt will hit 120% of GDP by 2036. It’ll break the post-World War II record of 106% by 2030, just four years from now.

But unlike 1946, when the US was coming off the biggest war in human history, this time around, it will be done in peacetime. That’s even more worrying.

Here's the part that really gets me: Interest payments on the debt will hit $1 trillion this year. Just to service what they has been borrowed. That's more than the US is spending on national defence ($885 billion) or Medicaid ($708 billion). And it's projected to double to $2.1 trillion by 2036.

Here's where the CBO's numbers get interesting and reveal where the real problem lies.

The deficit outlook deteriorated by $1.4 trillion since last January's projection. The biggest factor behind this change is the calculation on Trump's Big Beautiful Bill, which is projected to add $4.7 trillion to the debt through 2035. Fortunately, his tariff policy is projected to raise about $3 trillion over the decade, offsetting the debt.

Now do the math with me here, you can't plug a $4.7 trillion hole with $3 trillion in new revenue, no matter where that revenue comes from. The gap is the spending problem, plain and simple.

The CBO report says that "later in the decade," the interest rate on federal debt will exceed economic growth. Every dollar borrowed costs more than the growth that borrowing generates. They borrow to pay interest, which increases debt, which increases interest payments, which requires more borrowing. It's a self-reinforcing cycle, and once it starts, it's very difficult to stop.

This is why I keep saying that as much as I love the US, the privileges that it has as the World reserve currency ARE coming to an end, and sooner than everyone thinks… Trump obviously knows this. And I’m sure he’s had his top economic advisors put together a plan for a new currency when the current system dies. Probably backed by a basket of things from Gold, to crypto, to commodities, energy and much more… people think too linear in terms of money and gold, think bigger, think broader.

The CBO's projections assume current ‘things’ stay in place. But what if they don’t? We have all seen how the Supreme Court is expected to rule soon on Trump's tariff policies. If the Court overturns the tariffs, there goes that $3 trillion in revenue they're counting on.

Here's what I found interesting: the same day the CBO published this report, the S&P was basically flat and treasury yields barely moved. The market looked at a projection showing America heading into a debt spiral and shrugged it off.

So either markets are correctly pricing in that this is manageable somehow (reserve currency privilege, eventual fixes, growth bailout), or markets are wrong, ignoring an existential fiscal risk because it's easier to focus on next quarter's earnings.

I think we know which one it is. The phrase "this time is different" has a very poor track record in economic history.

The Thing About Debt Spirals: They work slowly, then all at once.

For years, you can pretend everything's fine. Debt goes up, but growth continues. Interest payments rise, but they're manageable. Trust funds get closer to insolvency, but 2028 feels far away. Markets keep hitting records.

And then one day, the math catches up.

2. Quick Takes

Here are the other top stories shaping the week:

• Pentagon Preps Second Carrier for Iran Strike

  The Pentagon has ordered a second aircraft carrier strike group to prepare for deployment to the Middle East within hours, potentially within two weeks, as pressure mounts on Iran during nuclear negotiations. The USS George H.W. Bush, currently off Virginia, could join the USS Abraham Lincoln already in the region, the first time two carriers would operate there simultaneously since last March. Trump met with Netanyahu on Wednesday and posted he's "insisting negotiations continue" but warned of doing "something very tough" if talks collapse. 

• Putin Pitches Trump

  The Kremlin has drafted an economic package for Trump that would see Russia embrace the dollar again and offer American companies preferential market access, compensation for seized assets, and joint investments in Arctic minerals, offshore oil, and natural gas, all as part of a potential Ukraine peace deal. This came from a released high-level memo, which proposes a $12 trillion economic partnership, with Russia and the US pushing for fossil fuels over green energy, while Western officials say some proposals appear designed to split the US from European allies. The plan would effectively use Europe's frozen Russian assets (roughly $300 billion, mostly held in EU jurisdictions) as a "signing bonus" for the United States, with only about $5 billion held in US accounts. 

• Japan Warns Asia Faces Massive LNG Shortage by 2035

  Japanese oil giant Inpex is warning that the Pacific coastal region, including Asia, will face a massive natural gas shortage by 2035, with demand nearly doubling from 400 million tons yearly now to 700 million tons, while supply can't keep up. The company says Asia-Oceania will account for 60% of global demand, but the Pacific region could see a supply gap of 231 million tons per year by 2035. Middle East exporters like Qatar and the UAE agree, warning that surging demand will outpace investment in new supply despite talk of a near-term glut. Qatar's energy minister said in December, "I have no worry at all about demand in the future. I have a worry about the lack of investment for additional supply in the future, which will cause prices to spike."

• Trump Scraps EPA Climate Rules

  Trump's EPA repealed the 2009 "endangerment finding" on Thursday, the scientific ruling that greenhouse gases threaten public health, eliminating the legal foundation for regulating emissions from cars, trucks, power plants, and oil operations. EPA Administrator Lee Zeldin called it "the largest deregulatory action in American history," claiming it will save $1.3 trillion and cut $2,400 per vehicle by ending requirements to measure, report, and comply with emission standards. The move frees automakers to build profitable gas-guzzling trucks without EV mandates (Biden wanted 56% EVs by 2032), kills the "universally hated" start-stop feature, and ends penalties for missing fuel economy targets. Ford and Stellantis applauded the decision for letting them offer vehicles "Americans want and can afford," while big, profitable trucks boost bottom lines to offset tariff costs. Environmental groups promise lawsuits, but Trump's betting courts will side with his reading that the Clean Air Act doesn't authorise climate regulation.

• NYC Mayor Pushes Tax Hikes on Rich, Hochul Says No

  New York City Mayor Zohran Mamdani asked state lawmakers on Wednesday to approve a 2% income tax hike on anyone earning over $1 million and raise the corporate tax rate from 7.25% to 11.5%, claiming it would close nearly half of the city's $7 billion budget gap. The Democratic Socialist mayor says the deficit dropped from $12 billion through "aggressive savings" and Wall Street bonuses, but the city is still "on a ledge." He's pushing the same tax plan from his campaign that helped fund promises like free transit, $30 minimum wage, and universal childcare. Governor Kathy Hochul already said no last month, insisting the state can make "transformative investments" without raising taxes. France tried a similar wealth tax and collected €400 million instead of the projected €1.9 billion as rich people optimised, relocated, or delayed. - Mamdani is walking into a brick wall since Hochul controls tax policy and won't budge, but now he gets to blame her when services get cut. But regardless, these taxes don’t work; the wealthy as well as business owners, just move elsewhere.

• Microsoft AI Chief Warns Most White-Collar Jobs Will Be Gone in 18 Months

  Microsoft's AI boss, Mustafa Suleyman, has said that "most, if not all", white-collar professional work, lawyers, accountants, project managers, marketers, will be "fully automated" within the next 12 to 18 months. AI has already been blamed for 79,449 job cuts since 2023, though experts say the real impact is still hard to measure. Meanwhile, a Bay Area startup called Mercor is paying highly credentialed workers $45 to $250 per hour to train AI systems for OpenAI and Anthropic, essentially paying them to build their own replacements. Morgan Stanley pushed back, saying real AI job losses probably won't show up in economic data until "later this decade." Anthropic's CEO Dario Amodei warned AI could disrupt 50% of entry-level white-collar jobs in 1-5 years, and the company just admitted their latest Claude models showed "elevated susceptibility" to helping with chemical weapons and "heinous crimes." - The timeline on this keeps shrinking, first it was "someday," then "this decade," now Microsoft's saying 18 months for most office jobs. The darkly ironic part of this is watching highly educated professionals get paid to train their own replacements.

• Silver Rally Sparks ‘Unexpected’ Selling Spree

  Silver's January surge to $120 per ounce (now back at $?) triggered a flood of people selling inherited silver, coins, sterling dinner sets, candlesticks, and family heirlooms to cash in on sky-high prices. A New York pawn shop owner says, "everyone's grandma is selling their chandelier, forks, and knives, anything that's made of sterling silver," with average payouts running $8,000 to $10,000. Google searches for "sell my silver" exploded. The scrap silver influx is now overwhelming refineries, with Germany's Heraeus Precious Metals facing months-long backlogs. One analyst says refinery inflows are "even heavier than during the 2011 speculative peak."

• Switzerland Votes on Capping Population at 10 Million

  Switzerland will vote on June 10th on capping the country's population at 10 million in a referendum pushed by the Swiss People's Party, the largest party in parliament. The proposal would force the government to restrict arrivals once the population hits 9.5 million (currently at 9.1 million), and if it exceeds 10 million for two straight years, Switzerland would have to ditch its free movement deal with the EU, risking retaliation from Brussels since half of Swiss exports go to the EU. Switzerland's population has grown five times faster than neighbouring EU states over the past decade, with foreigners making up 27% of residents, driving up rents (Geneva and Zurich hit €20,000 per square meter) and packing trains and hospitals.

• Greens Vote on Legalising Heroin for 'Inclusive' Society

  This one is crazy. The Green Party will vote at their conference on ending drug bans, including heroin and cocaine, to create a more "inclusive, supportive" society, with leader Zack Polanski backing full legalisation of all drugs. The plan: doctors prescribe drugs after check-ups, pharmacists sell drugs over the counter after "short chats," and licensed shops sell drugs like alcohol, supposedly bringing in £8 billion yearly in taxes. Polanski (who's never done drugs or drunk alcohol) says UK drug laws are "very racist" and people should be free to choose. - A guy who's never touched drugs wants to make heroin "inclusive" and calls it progress. You genuinely can't parody this; it's already beyond satire.

3. China Leads Global Gold Buying Spree as Central Banks Ditch Dollars

China topped the global gold buying chart from 2020-2025, adding 357 tonnes as Beijing doubles down on ditching the dollar and building reserves outside Western financial systems. Poland came in second with 315 tonnes, followed by Turkey and India (both facing currency chaos), adding 252 and 245 tonnes respectively. The top 15 buyers collectively hoarded nearly 2,000 tonnes as gold prices exploded 230% over the period, with emerging markets like Brazil, Azerbaijan, Japan, Thailand, and Singapore all piling in.

On the flip side, the Philippines dumped 65 tonnes (the biggest seller), Kazakhstan cut 52 tonnes, and Sri Lanka sold 19 tonnes, usually countries facing liquidity crunches or domestic stress. Germany and Switzerland barely moved.

This is the clearest de-dollarisation signal you'll see: authoritarian regimes and emerging markets racing to stockpile "politically neutral" gold while Western allies sit tight. When central banks buy 2,000 tonnes during a 230% rally, they're preparing for a post-dollar world.

I’m particularly impressed with Poland right now, they seem to be doing everything right. I expect them to go from strength to strength. I remember when the Brits used to say, “The Polish are taking our jobs!” Yet soon, could we see Brits and other European Countries wanting to move to Poland to maintain the European way of life? It sounds far-fetched, but it wouldn’t surprise me… Poland will be one of the largest European economies soon enough.

4. Market Overview

S&P 500 (U.S.)
The S&P 500 closed the week lower after a solid Monday start. Technology shares saw sales mid-week from concerns over AI trends and excess capital, pulling the index back. U.S. inflation figures today came in better than forecasts, drawing buyers and raising hopes for rate cuts to cap the week's drop.

FTSE 100 (UK)
The FTSE 100 gained ground over the week in calm trading. Areas like aerospace and data services advanced, lifted by worldwide ease after U.S. economic reports calmed nerves. Lacking major UK updates, the index followed general market steadiness.

S&P/TSX Composite (Canada)
The TSX ended marginally lower for the week, despite an upbeat open. Tech losses such as Shopify cut into materials progress mid-week, yet U.S. inflation results today raised energy shares and stable names for a late recovery that eased the net loss.

ASX 200 (Australia)
The ASX 200 advanced a little through the week with some ups and downs. Solid bank results helped at first, while Friday's retreat matched worldwide swings from U.S. markets that touched miners and export groups.

🇺🇸 United States – S&P 500

• High: 6,983.90

  Low: 6,816.57

🇬🇧 UK - FTSE 100

• High: 10,528.60

• Low: 10,317.60

🇨🇦 Canada – TSX Composite

• High: 33,551.45

• Low: 32,466.64

🇦🇺 Australia – ASX 200

• High: 9,102.80

• Low: 8,810.90

Cryptocurrency:

• Bitcoin (BTC): 1.6%

• Ethereum (ETH): 4.4%

• Tether (USDT): 0.0%

• XRP (XRP): -3.6%

• BNB (BNB): -5.1%

• USDC (USDC): 0.0%

• Solana (SOL): -0.1%

• TRON (TRX): 3.1%

• Dogecoin (DOGE): 0.1%

• Figure Heloc (FIGR_HELOC): 0.9%

Metals Market:

Gold–Silver Ratio: ~61-63:1. The ratio stayed relatively stable this week after volatile trading. Gold held around $5,000-$5,050 per ounce while silver traded between $77-$83, recovering from its lows earlier in the month. Thursday saw sharp drops in both metals after strong U.S. jobs data reduced expectations for Fed rate cuts, gold fell 2.3%, and silver plunged nearly 9%. The ratio has widened slightly as silver is more volatile due to its industrial uses.

Gold & Silver:

• Gold: Rose about 1.77% with a Week High: $5,155.10 & Week Low: $4,909.56

• Silver: Rose 2.01% with a Week High: $88.88 & Week Low: $74.65

5. Faith & Success

There’s something that no one really warns you about, but it’s important you know: When your life starts moving forward, not everyone will celebrate it.

People are comfortable with you while you’re at their level, while you’re figuring things out, while you’re struggling…

But when you begin to grow, when you get promoted, when your income increases, when your confidence sharpens, when your discipline separates you, something really shifts.

I don’t mean in you of course, I mean in them.

Your progress can highlight what they’re not doing, your discipline can expose their excuses and your ambition can confront their complacency.

And I know this sounds weird, but instead of them being inspired, some people will respond with criticism, subtle digs, talk about you behind your back or distance themselves from you. I’ve had this over and over again in my life, even though I treat people really well. In fact, I had it happen to me just a few weeks back, from a friend and fellow creator.

I was shocked at first, then I got over it.

But I thought to myself, this isn’t a reason to slow down; it’s a sign to keep going.

But here’s the trap: If you become dependent on others approval, you’ll start shrinking to keep others comfortable. You’ll soften your drive, downplay your wins and you’ll hesitate to step fully into opportunities because you don’t want to stand out too much.

That’s how people end up playing small for years. I know, I did it myself.

Someone very wise once said to me: “Neil you’re better than this, never seek approval, praise or sympathy from anyone.” And I really took that to heart…

You don’t need universal applause or everyone clapping for you. And you definitely don’t need to explain your growth to people who aren’t building anything themselves. It just is what it is. In the same way that I don’t think about how to stop the sunset or the sunrise, it just is… some things just ARE.

So this week, stay focused, keep improving and let your work speak volumes for you.

Some people won’t be ok with your growth, and that’s fine. Your responsibility isn’t to manage others comfort, it’s to maximize your own potential.

Speaking of which, if you’re one of the 5% who read to the end - keep it up. I’m impressed.

Until next time,

God Bless,

Neil,

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This newsletter is 100% FREE & is designed to help your thinking, not direct it. These newsletters shall NOT be construed as tax, legal, or financial advice and may be outdated or inaccurate; all decisions made as a result of this information are yours alone.

Trading/Liability: Neil McCoy-Ward operates/trades under a private Ltd company within the Isle of Man.