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 7/22/25 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.

DINARRECAPS8 7/20/25 DINARRECAPS8 7/20/25

Congress Looks To Hijack Crypto To Pay For Deficit Spending [Podcast]

Notes From the Field By James Hickman (Simon Black) July 16, 2025

It’s “Crypto Week” on Capitol Hill with all sorts of crypto legislation on the docket— including the so-called GENIUS Act that aims to regulate stablecoins. I’m not sure the GENIUS Act is in fact genius, but it might be a pretty clever given its potential benefit to the Treasury Department and government bond market.

On its surface, the bill aims to provide a formal regulatory framework for anyone who wants to issue stablecoins, i.e. digital assets that are typically pegged to the US dollar to maintain a “stable” value.

DINARRECAPS8 7/14/25 DINARRECAPS8 7/14/25

Apple Will Pay Anything for This Crucial iPhone Metal

Notes From the Field By James Hickman ( Simon Black) July 10, 2025

We’ve all heard the legend: there was a beautiful girl, kidnapped, a thousand ships launched, and the mightiest warriors of the ancient world descended upon the city of Troy to win her back. Obviously this was all a myth. But Troy itself existed. And the Trojan War very likely happened as well. Though not over some pretty girl.

Instead, the Trojan War likely started as a dispute over scarce resources— then quickly escalated to a full blow shooting (or stabbing/slashing) war.

DINARRECAPS8 7/10/25 DINARRECAPS8 7/10/25

Crisis 2033 Is Eight Years Away. Are You Ready?

Notes From the Field By James Hickman (Simon Black) July 8, 2025

US President Dwight D. Eisenhower was absolutely terrified of inflation.

And that’s really saying something for a guy who had commanded Allied forces against the Nazis, faced down the Soviet Union during the Cold War, and overseen the dawn of the Atomic Age.

Sure, those threats might seem more serious than a 5% increase in the price of milk. But Eisenhower felt strongly that inflation was a matter of national security.

DINARRECAPS8 7/3/25 DINARRECAPS8 7/3/25

The Deadline for Moving Money Out of the US

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

The Senate passed the “Big Beautiful Bill,” and it’s about to make America’s financial house of cards a whole lot shakier. Already today interest on the national debt costs more than the entire— very large— defense budget. The runaway national debt is literally a matter of national security.

And the bill will add about $3 trillion to the national debt over the next decade, in addition to the $22 trillion the Congressional Budget Office already-projects for the same period.

DINARRECAPS8 6/30/25 DINARRECAPS8 6/30/25

“Zeus” Just Made The Most Predictable Crisis In History Even Worse

“Zeus” Just Made The Most Predictable Crisis In History Even Worse

Notes From the Field By James Hickman (Simon Black) June 30, 2025

It was September 29, 2021— nearly four years ago— that then House Speaker Nancy Pelosi held a press conference about their $3.5 trillion “Build Back Better” spending bonanza.

Despite the outrageously high price tag, Pelosi told reporters at the presser, “the dollar amount [of the Build Back Better bill], as the President said, is zero.”

DINARRECAPS8 6/26/25 DINARRECAPS8 6/26/25

I’m Far More Concerned About The Deficit Than World War 3

Notes From the Field By James Hickman (Simon Black) June 24, 2025

I can understand why so many people are worried about World War 3 breaking out. It’s a completely rational concern. I just don’t happen to share it.

Why? Because regardless of the debate over whether the US strikes against Iran’s nuclear facilities were a good idea, or a reckless risk of another expensive foreign entanglement, one thing is indisputable: America reminded the world of its immense military capabilities.

DINARRECAPS8 6/23/25 DINARRECAPS8 6/23/25

The Missing Part RE: Iran— No Rational Discussion About Costs

Notes From the Field By James Hickman (Simon Black) June 23, 2025

If the Land of the Free wasn’t already divided heavily along ideological lines, it is even more so after the US military bombings in Iran over the weekend. Even on the political right, which would ordinarily be unified over a US military engagement, there seem to be two distinct camps.

On the one hand, there are those who hold the view that America doesn’t need more foreign entanglements