From The Capitalist <[email protected]>
Subject Trump slams the door on China's rare earth ambitions
Date January 23, 2026 7:04 PM
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Hello Capitalists,
Here is everything you should be watching today:
US to block China from Greenland’s rare earth minerals under NATO framework
Goldman Sachs sees Gold going to $5400 as it breaks $4900
Wall Street starts to fret about private credit risks
Airlines start pre-cancelling flights as they brace for snow blast
Waymo robotaxis start their roll out in Miami’s downtown
Today’s markets + assets:
🔴 DOW: 49020.60 (⬇️ 0.74%)
🔴 S&P: 6928.95 (⬇️ 0.02%)
✅ NASDAQ: 23481.58 (⬆️ 0.39%)
⚠️✅CBOE VIX Volatility Index: 15.77 (⬆️ 0.64%)
✅ Gold: $4911.90(⬆️ 1.54%)
✅ Silver:$96.30 (⬆️ 3.96%)
🔴 Bitcoin: $89,528.00761 (⬇️ 0.34%)
The Capitalist is a reader-supported publication Reject Corporate Left-Wing Journalism
Trump eyes Greenland minerals to crush China dominance
President Trump announced a framework deal with NATO that grants the US and allies mineral rights in Greenland, [ [link removed] ] aiming to secure vast rare earth reserves and block China’s strategic access to these critical defense materials amid escalating Arctic tensions.
Rare Earth Riches Unveiled: Greenland holds the world’s eighth-largest reserves at 1.5 million metric tons, featuring major deposits like Tanbreez and Kvanefjeld vital for magnets in defense and tech industries.
China’s Stake Blocked: A Chinese firm Shenghe Resources maintains investment in the stalled Kvanefjeld project, but US efforts including past lobbying prevent Beijing from gaining further foothold in Arctic resources.
US Backing Boosts Projects: Critical Metals’ Tanbreez acquisition received a $120 million US Export-Import Bank interest letter, sparking a stock surge and advancing domestic rare earth supply chain independence.
Security Over Extraction: Trump emphasizes the deal’s focus on national security and countering China/Russia Arctic ambitions rather than immediate mining, citing high costs and ice challenges for long-term strategic gains.
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Gold surges past $4900 milestone Goldman ups forecast
Gold prices shattered records by topping $4900 per ounce [ [link removed] ] for the first time amid relentless demand, as Goldman Sachs boosted its year-end 2026 forecast to $5400 citing accelerating private-sector diversification into the metal.
Private demand surges: Goldman highlights emerging private investor and high-net-worth buying as a key realized upside risk, joining central bank purchases to fuel the rally.
Forecast sharply raised: Goldman lifted its December 2026 gold target by $500 to $5400 per ounce from prior $4900, expecting persistent positions amid policy uncertainty.
Geopolitical boosts noted: Events like US actions on Venezuela and tariff threats have triggered rallies, reinforcing gold’s role as a hedge in turbulent times.
Analyst upside views: UBS sees potential to $5400 if tensions flare, recommending gold allocation in portfolios facing dollar and AI-related risks.
Private credit meltdown risk surges on Wall Street
Wall Street is sounding alarms over rising risks [ [link removed] ] in the booming private credit market, now $3.4 trillion strong, as high-profile bankruptcies, opaque valuations, and warnings from Jamie Dimon and Jeffrey Gundlach fuel fears of hidden troubles that could spark broader financial stress in 2026.
Rapid growth fuels : Private credit has ballooned from post-2008 bank restrictions and is projected to hit $4.9 trillion by 2029, creating conditions ripe for systemic issues due to light regulation and low transparency.
Experts issue stark : JPMorgan’s Jamie Dimon warns problems spread like cockroaches, while billionaire Jeffrey Gundlach slams “garbage loans” and predicts the next crisis will originate in private credit.
Valuation concerns mount : Lenders face incentives to disguise risks and delay markdowns, as seen in cases like Renovo where debt was initially valued at full before dropping to zero amid stress.
Defaults and stress : Rising defaults expected this year especially among weaker borrowers, with more firms using payment-in-kind options to avoid formal defaults and banks facing growing exposure through $1.14 trillion in loans to nonbank lenders.
Our exclusive Capitalist deep dive exposes the shady practices that have been commonplace in the sub-prime private credit market, that no one is paying attention to.
Airlines scramble waivers chaos winter storm looms
Major U.S. airlines including Delta, Southwest, American, and United issued travel waivers and began preemptively canceling flights [ [link removed] ] Thursday as a massive winter storm threatens heavy snow, sleet, ice, and bitter cold across two dozen states, with thousands of disruptions expected over the weekend into Monday.
Delta preempts cancellations: Delta canceled flights Thursday at select airports in Texas, Oklahoma, Arkansas, Louisiana, and Tennessee for safety, automatically rebooking passengers to next available itineraries.
Southwest offers broad flexibility: Anticipating South and East disruptions, it allows rebooking or standby travel within a two-week window without fees for affected customers.
United targets Northeast Mid-Atlantic: Waiver covers much of the region including Newark and Washington-area operations, waiving change fees and fare differences for same-itinerary adjustments.
Storm brings historic impacts: Forecast delivers cold not seen in five years, potential power outages, tree damage, and ripple effects even to distant hubs like Denver and Chicago.
Waymo unleashes robotaxis in Miami shocker
Alphabet’s Waymo launched its fully autonomous robotaxi service [ [link removed] ] to paying riders in Miami on Thursday, opening a 60-square-mile area across trendy neighborhoods like Brickell and Wynwood as the company’s sixth U.S. market and first expansion of 2026, bolstering its dominance over lagging rivals like Tesla.
Service Area Details: Covers 60 square miles including Design District, Wynwood, Brickell, Coral Gables with airport extension planned soon.
Rider Onboarding Process: Nearly 10,000 locals signed up as early new riders invited gradually via Waymo app for controlled rollout.
Operational Partnerships: Waymo has teamed with Moove for fleet charging cleaning and repairs following testing start in early 2025.
Expansion Ambitions: Waymo targets more US cities like Dallas, Denver and Houston in 2026 after 14 million trips and 450,000 weekly rides in 2025.
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