Mark the dollar. I think we will resume the structural depreciation trend next year. I think there are potentially a number of factors, right, in that the most important is because of the Trump administration's pressure on the Fed.We know that the setting for monetary policy, wherever it's at, will be easier than Orthodox or Orthodox economics would recommend. And that is at a point when the rest of the world is coming, generally coming to the end of their easing cycles. I still think that the trade dynamic ...

What a momentum trade for the yellow metal. Gold has now risen, Tom, over 20% since the dovish shift from the Fed back in Jackson Hole back in August in just six weeks added 20%, crossing 4000 for the first time ever across 1000 during the monumental Fed easing during the GFC across 2000 during the COVID pandemic, when the government started sending out stimulus checks across 3000 on Trump tariffs in the worries back in April, now notching 4000 for the first time ever on. Perhaps, as Ray Dalio mentioned, a ...