DINARRECAPS8 9/8/25 DINARRECAPS8 9/8/25

Foreigners Own Less US Government Debt—Is That a Good Thing?

Foreigners Own Less US Government Debt—Is That a Good Thing? [Podcast]

Notes From the Field By James Hickman (Simon black)

The US owes a LOT less money to China today than it did a few years ago. As recently as three years ago, for example, China held $1.3 trillion worth of US government bonds. Today they’re down to around $750 billion.

In other words, China’s government has decided to cut back on its US dollar Treasury holdings by more than 40% over the past three years.

And at first, that might sound like a good thing— HOORAY! More independence from foreign creditors! America is better off without that Chinese money! Right?

DINARRECAPS8 9/4/25 DINARRECAPS8 9/4/25

Gold Just Hit Another All-Time High—What’s Next?

Podcast: Gold Just Hit Another All-Time High—What’s Next?

Notes From the Field By James Hickman (Simon Black) September 3, 2025

You might be surprised to know that the government is facing yet another shutdown at the stroke of midnight on September 30.

A lot of people might be thinking two things: First— “again?” And second— what about the “One Big Beautiful Bill”?

The One Big Beautiful Bill, signed into law on July 4, did not, in fact, contain all the necessary resolutions to fund the government for the next fiscal year (which starts on October 1).

DINARRECAPS8 9/3/25 DINARRECAPS8 9/3/25

Dollar ALERT: Foreign Central Banks Now Own More Gold Than USD

Notes From the Field By James Hickman (Simon Black) September 2, 2025

For centuries, the Byzantine Empire’s gold coin, known as the solidus, had been the backbone of global trade in the medieval world; nearly pure gold, the solidus was trusted by merchants from Baghdad to London.

But by the 11th century, multiple emperors had chipped away at its gold content—watering it down to pay for wars, bureaucracy, and the costs of an empire in decline.

DINARRECAPS8 8/19/25 DINARRECAPS8 8/19/25

Podcast: The Rise of National Capitalism

Notes From the Field By James Hickman (Simon Black) August 19, 2025

Few people understand how the Federal Reserve actually works— and frankly, I’m not sure the President or Treasury Secretary are among them.

That’s not an insult, just based on what they say. Let me explain.

DINARRECAPS8 8/18/25 DINARRECAPS8 8/18/25

At Least Social Security Will Go Bankrupt With Good Customer Service

Notes From the Field By James Hickman (Simon Black) August 18, 2025

I know it’s cliche, but one of the happiest days of my life was a bit more than four years ago when my daughter was born in Cancún, Mexico. My wife and I chose Mexico deliberately— given all the COVID craziness that was going on (especially in the US), we wanted to be in a place where the pandemic wasn’t going to factor into our lives at all. And Cancun was perfect.

Add in world-class healthcare at affordable prices, and it was an easy call. Plus babies born in Mexico automatically become citizens, and both parents and grandparents receive permanent residency.

DINARRECAPS8 8/12/25 DINARRECAPS8 8/12/25

The Debt Problem Was Actually Scarier In The 90’s Here’s How They Solved It

The Debt Problem Was Actually Scarier In The 90s. Here’s How They Solved It. Podcast

Notes From the Field By James Hickman (Simon Black ) August 12, 2025

I was still just a kid as the US headed into the 1992 US Presidential election, but I remember the excitement around my home town as Ross Perot entered the race as an independent candidate.

Perot was from Dallas, where I grew up. And he was one of the first tech billionaires, long before the dot-com boom. Like Elon today, Perot knew that America was heading down a dangerous fiscal path. At the time, the US government was spending about 28% of its annual tax revenue just to pay interest on the national debt.

DINARRECAPS8 8/12/25 DINARRECAPS8 8/12/25

37 Trillion Reasons To Have A Plan B

Notes From the Field By James Hickman (Simon Black) August 11, 2025

On Friday afternoon last week, the US national debt hit another ignominious milestone: $37 trillion. And there’s absolutely no end in sight.

Perhaps the wildest part is how quickly the debt is rising. Just before the One Big Beautiful Bill was passed on July 4th-- barely a month ago-- the national debt was ‘only’ $36.2 trillion. So, the debt increased a whopping $800 billion in a mere 36 days.

DINARRECAPS8 8/11/25 DINARRECAPS8 8/11/25

Foreigners Own Less US Government Debt—Is That a Good Thing? [Podcast]

Notes From the Field By James Hickman (Simon black) July 23, 2025

The US owes a LOT less money to China today than it did a few years ago. As recently as three years ago, for example, China held $1.3 trillion worth of US government bonds. Today they’re down to around $750 billion.

In other words, China’s government has decided to cut back on its US dollar Treasury holdings by more than 40% over the past three years.

DINARRECAPS8 8/1/25 DINARRECAPS8 8/1/25

We Talked To One Of America’s Most Experienced Trade Negotiators

Notes From the Field By James Hickman (Simon Black) July 31, 2025

It wouldn’t be an overstatement to say that global trade is one of the most important issues happening in the world right now.

On April 2nd—so-called “Liberation Day”—the President upended decades of established business and trade practices that virtually every major government and corporation on the planet has relied on. All of those rules, good and bad, were thrown out the window. Overnight. And that makes this new tariff regime one of the largest worldwide disruptions to business (alongside the pandemic) since World War II.

DINARRECAPS8 7/30/25 DINARRECAPS8 7/30/25

Project “Hijack the Fed” is now in full swing [Podcast]

Notes From Te Field By James Hickman (Simon Black) July 30, 2025

To the surprise of absolutely no one today, the Federal Reserve’s Open Market Committee chose to do nothing at the close of its two-day meeting.

The White House is furious about the decision; the President believes that the Fed should be slashing rates, and that the current “high” rate of interest is costing the US government hundreds of billions of dollars each year in excess interest.

(I put “high” in quotes because interest rates are still well below historic averages...)

DINARRECAPS8 7/29/25 DINARRECAPS8 7/29/25

The Illusion Collapses

Notes From the Field By James Hickman (Simon Black) July 21, 2025

When King Louis XV died in 1774, nearly all of France breathed a collective sigh of relief.

The late king, along with his predecessor— the legendary Louis XIV— had indebted France up to its eyeballs with endless war, waste, and lavish spending.

Sure, Versailles was gorgeous. But the interest payments were eating the royal Treasury alive. And everyone knew that France was in serious trouble... so when the king died, people became hopeful that change was coming.

DINARRECAPS8 7/22/25 DINARRECAPS8 7/22/25

The Root of America’s Problems [Podcast]

Notes From the Field By James Hickman (Simon Black) July 9, 2025

In today’s podcast, we take on a provocative question from a reader: What is the single root cause behind America’s decline?

You might think it's overspending, or the Federal Reserve, or career politicians. But what if it’s something even more fundamental… like letting just anyone vote?

Should someone be allowed to vote if they don’t understand basic concepts like what a deficit is, or how the government even works?

DINARRECAPS8 7/21/25 DINARRECAPS8 7/21/25

How A Crypto Billionaire’s Crazy Plan Could Save Social Security [Podcast]

Notes From the Field By James Hickman (Simon Black) July 17, 2025

Bitcoin today is trading at around $120,000. If you’re willing to pay double the price, i.e. $240,000, please contact me immediately. I’ll happily sell you some of mine.

Why would anyone do that? I don’t know. But that’s exactly what investors are doing when they buy shares in “Strategy,” formerly known as MicroStrategy.