⁨Geopolitics⁩

Every piece where ⁨Geopolitics⁩ is the variable that does the work.

Variables to Watch

Watch this variable: the dollar's shrinking share of reserves

The dollar holds about 57% of reported reserves, down from over 70% at the century's start; central banks bought over 1,000 tonnes of gold for three straight years, and gold crossed $4,000 in 2025. Nothing here says collapse. Everything says erosion, and the pace is the variable.

Sep 20, 2026 · 8 min read

World
Currencies, Markets & Geopolitics

Artillery shells lined up on a production line.

Politics

World military spending hit $2.9 trillion. The surprise is who cut

SIPRI's 2025 numbers: an eleventh straight record year, Europe up 14%, Germany up 24%, Ukraine at 40% of its own GDP, and NATO signed up to 5% targets by 2035. The one major spender that fell: the United States, down 7.5%. The rearmament is real, and it is changing hands.

Sep 20, 2026 · 7 min read

World, NATO & Europe
Defense, Geopolitics & Institutions