CAPITOLINO
The story of money. Every story of capital leads here.
Latest long read · Macro · CurrenciesAmerica spent money to prop up another country's currency. Why, and what the 30 year bond has to do with it.

America spent money to prop up another country's currency. Why, and what the 30 year bond has to do with it.

A number most people never think about runs mortgages, pensions, and the federal budget. It just hit a 19 year high.

Markets change. Human nature does not. Five sentences from investors who saw more cycles than most of us ever will.

Everyone is waiting for the same sentence from the Fed. Here is why you do not need to know what comes next.

Before you borrow someone's eyes to look at the economy, you deserve to know whose eyes they are.

It worked in 1946. It cannot work now. The 30 year bond is why.

Attaching money to an audience is the most dangerous moment in any business. OpenAI cleared it in 200 days.

Every big debtor wants a weaker currency at the same time. They can only all get it against gold.

Zero was a promise Japan could keep for 25 years. Then the promise stopped working.

M2 just hit 23.2 trillion dollars. Why that does not automatically lift Bitcoin.

160 yen per dollar used to be a wall. This year it became a neighborhood.

Nvidia posted a monster quarter. The Fed said something else. Both markets are right, for now.

Jan 2020 = 100. Every line goes up.

Prices cooling, borrowing cost rising.

Half a century in one line.

2, 10, and 30 year yields.

10 year minus 2 year, recessions shaded.

23.2 trillion dollars and a handwritten note.

Days above 160, 2024 vs 2026.

Why the yen fell.
Capitolino takes its name from the Capitoline Hill in Rome, where the temple of Juno Moneta housed the Roman mint. The birthplace of the word money. Written by an operator who sells into 42 countries, not an analyst. Published by DARAM INC.
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