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The Land of Our Nation
Mon, Dec 29, 2025
Volodymyr Zelenskyy left Trump Island on Sunday saying Ukraine and the United States had agreed on the military elements of a 20-point peace plan and were 90% of the way to a deal. The remaining 10 percent is the hard part: territory. Any concessions, he said, would require a referendum. "It's their land, not the land of one person. It's the land of our nation."
The meeting came one day after Russian missiles struck Kyiv, and hours after Kyiv struck a Russian oil refinery. Before meeting with Zelenskyy, Donald Trump chatted with Vladimir Putin and emerged from the call claiming that the man bombing Ukraine "wants to see Ukraine succeed." Putin, for his part, continues to demand Ukraine withdraw from the remaining Donbas territories still under Kyiv's control.
American markets are closing 2025 near record highs. The S&P 500 finished Friday at 6,929.94, up 17.8% for the year and marking its third consecutive year of double-digit returns. The dollar tells a different story: the index has fallen about 9.5% against major currencies, its steepest annual decline since 2017. That weakness, driven by Fed rate cuts and tariff-induced volatility, has supercharged commodities priced in greenbacks.
Silver hit $83.62 an ounce early Monday before whipsawing into the mid-$70s and back. Even after the turbulence, the precious metal is up about 180% for the year. Copper surged toward $13,000 a ton in London. Gold, trading around $4,500, is on track for its best year since 1979.
In Silicon Valley, AI startups have amassed a $150 billion funding cushion. Databricks CEO Ali Ghodsi called portions of the market a huge, insane bubble, noting that companies worth billions with zero revenue are now commonplace. "Twelve months from now," he predicted, "it'll be much, much, much worse."
The year ends with American equities at highs and the dollar at lows. Peace 90 percent agreed. Silver up 180 percent. Territory contested on every front. The Donbas. The Taiwan Strait. The credit markets. The courtroom. And the same question everywhere: Whose land, and who decides?
Three trading days remain.
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By The Hold ReportMon, Dec 29, 2025
Volodymyr Zelenskyy left Trump Island on Sunday saying Ukraine and the United States had agreed on the military elements of a 20-point peace plan and were 90% of the way to a deal. The remaining 10 percent is the hard part: territory. Any concessions, he said, would require a referendum. "It's their land, not the land of one person. It's the land of our nation."
The meeting came one day after Russian missiles struck Kyiv, and hours after Kyiv struck a Russian oil refinery. Before meeting with Zelenskyy, Donald Trump chatted with Vladimir Putin and emerged from the call claiming that the man bombing Ukraine "wants to see Ukraine succeed." Putin, for his part, continues to demand Ukraine withdraw from the remaining Donbas territories still under Kyiv's control.
American markets are closing 2025 near record highs. The S&P 500 finished Friday at 6,929.94, up 17.8% for the year and marking its third consecutive year of double-digit returns. The dollar tells a different story: the index has fallen about 9.5% against major currencies, its steepest annual decline since 2017. That weakness, driven by Fed rate cuts and tariff-induced volatility, has supercharged commodities priced in greenbacks.
Silver hit $83.62 an ounce early Monday before whipsawing into the mid-$70s and back. Even after the turbulence, the precious metal is up about 180% for the year. Copper surged toward $13,000 a ton in London. Gold, trading around $4,500, is on track for its best year since 1979.
In Silicon Valley, AI startups have amassed a $150 billion funding cushion. Databricks CEO Ali Ghodsi called portions of the market a huge, insane bubble, noting that companies worth billions with zero revenue are now commonplace. "Twelve months from now," he predicted, "it'll be much, much, much worse."
The year ends with American equities at highs and the dollar at lows. Peace 90 percent agreed. Silver up 180 percent. Territory contested on every front. The Donbas. The Taiwan Strait. The credit markets. The courtroom. And the same question everywhere: Whose land, and who decides?
Three trading days remain.