US Debt. Photo by BeInCrypto The US federal government's interest payments on national debt surpassed $1 trillion for the first time in fiscal year 2025. Interest expenditure now exceeds both defense spending and Medicare—a first in American history. Wall Street analysts and social media users alike are invoking "Weimar" as warnings of fiscal crisis mount. Meanwhile, the US Treasury is positioning stablecoins as a strategic tool to absorb the growing flood of government debt. The Numbers: A Crisis in P ...

Bolivia’s new government is drawing up plans to slash subsidies that give its drivers some of the cheapest fuel in the Americas, but which are a main cause of the nation’s fiscal crisis https://t.co/3ZDzf9StgM ...

Market Overview - The cryptocurrency market is experiencing mixed sentiments, with privacy-focused coins like Monero (XMR) and Zcash (ZEC) declining over 4% in the last 24 hours, while major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and XRP remain stable after bouncing back from recent lows [1] - The CoinDesk DeFi Select and Smart Contract Select Indices have shown strength, increasing approximately 5% and 4% respectively since early Asian trading hours, indicating pockets of growth amid broader market caution [2] Zcash Performance - Zcash has surged over 500% since September, but is now showing signs of a potential bearish double top pattern, raising questions about whether a decline in ZEC could lead to a bounce in BTC and ETH [3] Institutional Adoption and Analyst Insights - Analysts suggest that the cryptocurrency market is still in the early stages of institutional adoption, with potential incoming inflows that could significantly boost valuations, providing hope for Bitcoin bulls [4] - Arca's CIO Jeff Dorman has dismissed rumors regarding Michael Saylor liquidating his BTC holdings, asserting that Saylor's financial position would likely prevent him from selling unless there is a drastic drop in Bitcoin's value [4] Regulatory Developments - Bitget's chief analyst Ryan Lee emphasizes the importance of monitoring U.S. regulatory developments, particularly concerning exchange-traded funds (ETFs), stablecoin payment frameworks, and exchange oversight, as these factors could quickly shift investor sentiment back to a risk-on stance [5] Traditional Market Impact - In traditional markets, Japanese longer-dated government bond yields have surged due to reports of a potential stimulus package worth approximately 17 trillion yen ($110 billion), which could flood the market with bonds and increase yields, potentially impacting risk assets including cryptocurrencies [6]

Performance Overview - The Massif Capital Real Assets Strategy achieved a return of 36.1% net of fees in Q3 2025, with year-to-date returns reaching 41.5% net of fees [2] - The strategy has been operational for 27 quarters, marking its best quarter to date and resulting in an annualized net-of-fees return of 14.6% since inception [2] Alpha and Risk Assessment - The company focuses on generating uncorrelated, risk-adjusted returns, referred to as Alpha, which is challenging to measure due to the complexities of risk [4][5] - Jensen's Alpha is utilized to evaluate performance, indicating whether returns exceed expectations based on market risk exposure [5][6] - The benchmark used for performance evaluation is the MSCI ACWI Ex US, which covers a broad range of global equity opportunities outside the US [8][9] Comparative Performance - The Massif Capital Real Assets Strategy outperformed various comparable funds and major indices, with a year-to-date alpha of 14.9% compared to peers [10][12] - The strategy's YTD return of 41.5% significantly exceeds the S&P 500 Index (13.7%) and NASDAQ Index (17.3%), showcasing strong performance in risk-adjusted terms with a Sortino Ratio of 1.5 [13] Individual Stock Performance - In the gold sector, core positions in G-Mining Ventures and Equinox Gold returned a portfolio-level return of 17.1% as of Q3 2025 [14] - G-Mining Ventures outperformed the sector with a return of 183%, while Equinox Gold lagged behind the market despite a long-term positive outlook [17][19] - The copper sector saw significant gains, with positions in NGEX and Midnight Sun delivering returns of 392% and 268% from cost basis, respectively [21] Critical Metals and Infrastructure - The portfolio includes critical metals such as lithium and uranium, with lithium positions performing well, while uranium investments face challenges due to geopolitical factors [24][49] - The company is exploring opportunities in infrastructure and industrials, aiming to capitalize on increasing electricity costs and innovative technologies [51][52] Market Outlook - The company anticipates that oil and natural gas investments may lead in Q4 2025, driven by potential supply constraints in Europe and favorable dividend yields from current positions [33][35] - Concerns regarding LNG supply availability and winter weather patterns could impact natural gas prices, with a focus on the interplay between European demand and Asian supply [40][42][45]

Monetary Policy - The European Central Bank is expected to maintain interest rates steady for the third consecutive meeting [1] - The ECB is awaiting year-end projections to better assess the impact of trade tensions and France's fiscal situation [1]

At home and abroad, Britain’s economy is in the dog house. Even with a huge majority and plenty of time, Labour is drifting towards a fiscal crisis https://t.co/YfTB1sIFvg https://t.co/XNyeUYuqOw ...

Even with a huge majority and plenty of time, Labour is drifting towards a fiscal crisis https://t.co/shR7UTTfMB ...

(gentle music) - [Narrator] After the big tariff announcement, something happened that shocked economists, and it wasn't the stock market dropping, it was the value of the dollar dropping. Usually in times of market turmoil, it increases because investors are flocking to the US for safety. - We saw exactly the opposite.Money fled from the US for safety instead of to the US for safety for the first time in my memory. - That was a sign that something was getting different and that people weren't just shifting ...