Billionaire investor Ray Dalio is warning we shouldn’t be focused on trade wars, instead the real concern is capital wars. In those, Dalio says there will be a reduced appetite for owning US government debt or any US assets. Maybe even including American stocks. The comments were made in the context of recent geopolitical flashpoints in Venezuela and Greenland. As always, there’s a lot of noise surrounding this kind of topic, but what does the evidence say?

Eurodollar University's conversation w/Steve Van Metre

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If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me and Brent, plus Hugh Hendry, George Gammon, Steve Van Metre, and Mike Green at Eurodollar University's very first Live Event, President's Day Weekend, February 2026. Small groups, intimate discussions.

To reserve your spot just go here https://eurodollar-university.com/event-home-page

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CNBC Ray Dalio
https://www.youtube.com/watch?v=Gda9T9gZSe4

https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

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A huge arctic blast, the weather wedge, has sent natural gas prices soaring in historic fashion. Some futures prices surged by a whopping 75% in just five days leading up to what people are calling the storm of the century. Freezing cold. Snow. Ice sheets. Icemageddon. Winter hazards slated to impact two-thirds of the eastern United States, roughly half the country’s population. The combination of low natural gas inventories and that huge sudden for it, the jump in price is to be expected.

Eurodollar University's Money & Macro Analysis

How A Weather Wedge Is Shaping This Weekend’s Southern Ice Stormhttps://www.forbes.com/sites/marshallshepherd/2026/01/23/how-a-weather-wedge-is-shaping-weekend-southern-ice-storm/

Natural Gas Prices Across the US Surge Ahead of Arctic Blast
https://www.bloomberg.com/news/articles/2026-01-23/us-natural-gas-falls-after-record-breaking-three-day-rally

CEOs Wary of a Jittery US Consumer as Global Tensions Intensify
https://www.bloomberg.com/news/articles/2026-01-23/ceos-wary-of-a-jittery-us-consumer-as-global-tensions-intensify

https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

The Japanese government bond market suffered a major meltdown this week that has shaken up a lot of people as they try to figure out what’s going on over there and how it might impact more than just government bonds as a class. One of the key factors that has emerged, however, is just how little selling it took to create these massive price swings. That has enormously profound implications.

Eurodollar University's Money & Macro Analysis

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EDU LIVE PRESIDENT'S DAY FEBRUARY 2026

If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me and Brent, plus Hugh Hendry, George Gammon, Steve Van Metre, and Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. Small groups, intimate discussions.

To reserve your spot just go here but you better hurry, there aren't many spots left:

https://eurodollar-university.com/event-home-page
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https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU