Why I Joined Monetary Metals

Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls In the past two weeks we have discussed demand destruction as a result of soaring oil prices (here and here), and we are increasingly seeing anecdotal evidence of just that (here is a table from Goldman we showed previously, laying out where demand destruction is most acute). We start, as always, with Asia which has emerged as ground zero of the global energy crisis - as a reminder last week we first presented a map by JPMorgan's...

Anduril Lands $20 Billion Pentagon Contract For "Modern Battlefield" Hardware Nine days after Axios reported that Palmer Luckey's Anduril was raising around $4 billion at a $60 billion valuation led by a16z and Thrive Capital, Luckey landed a major enterprise contract with the US Army worth up to $20 billion over 10 years.  Photo: Kyle Grillot/Bloomberg via Getty Images Announced on Friday, the deal features a five-year base period with an option to extend for another five years - and includes over 120 separate procurement actions into a single agreement which covers the full range of...