Open defiance against the US

Adding to gold's appeal, China, Russia, and India took a defiant stand against Washington at the recent Shanghai Cooperation Organization (SCO) Summit in Tianjin.

- WILSON SY

A widely circulated photo showed Xi Jinping, Vladimir Putin, and Narendra Modi smiling, holding hands, and laughing together—a symbolic display of unity. Beyond the optics, the leaders discussed deeper energy cooperation, including the proposed "Power of Siberia 2" pipeline. It also shows that China, Russia, India, Brazil, and other BRICS members are willing to chart their own course in open defiance of the US and an affront to Trump.

And indeed, Trump was watching. Trump posted a sarcastic comment on his Truth Social platform last Friday, "Looks like we've lost India and Russia to deepest, darkest China. May they have a long and prosperous future together!" This growing defiance against US influence raises the specter of an armed conflict or a more vicious damaging trade war.

Dalio's debt warning In an interview with the Financial Times, Bridgewater founder Ray Dalio voiced concerns over America's perilous fiscal trajectory. "The great excesses that are now projected as a result of the new budget will likely cause a debt-induced heart attack in the relatively near future," he said. "I'd say three years, give or take a year or two."