Let's talk about the political events ahead of us.
The U.S. Presidential debate is tomorrow. And a referendum on Macron in France comes over the weekend.
While the grip on power is tight, it looks possible that the global policy pendulum could swing.
As we know, Western world governments have highly coordinated the execution of a shared (globalist) gameplan, designed around the climate agenda.
Not only has this agenda necessitated the appropriation and printing of trillions and trillions of dollars to fund the transformation of global energy, but the dollars that are being printed are being devalued by the same policies. And with that, so are the Western economies.
How?
The agreement to trade global oil in U.S. dollars (i.e. "petrodollars") has been the cornerstone of the dollar's role as the "world's reserve currency," since the end of the gold standard. And the world reserve currency status has been key in building and sustaining the United State's position as the economic superpower.
So, anti-oil policies are self-inflicted threats to the wealth and sovereignty of the people executing them.
That is giving way to a populist push back, that's beginning to look like Grexit, Brexit and the Trump election.
The push back against the global agenda has come in Argentina, El Salvador and (somewhat) in Italy. And the betting markets suggest it's coming in France and the United States.
The question: Will there be a government bond market shock, in response to the trillions of dollars in fiscal bullets fired for a global climate agenda that could be fractured, if not abandoned?