Today is the first anniversary of Trump's inauguration as President of the United States. I believe that everyone will still remember what happened in this year. Let's not talk about it for a long time. In the three weeks just entering 2026, Trump will have more lives than Biden in his life. The issue of Greenland and the Nobel Prize is not over yet, and he is about to establish a "Gaza Peace Committee". Currently, invitations have been sent to about 60 countries and international organizations. However, France refused very shamelessly. In response to France's clear refusal to join the "Peace Council", Trump publicly said that as long as the 200% tariff was imposed on French red wine and champagne, French President Makron would join, but also said that "no one cares whether he joins or not". In fact, whether it's Trump's territorial claims or tariff threats, in the final analysis, they are trying to make money. Against the background that the Federal Reserve does not agree to cut interest rates quickly, the huge amount of interest on treasury bond will drain every penny of the US fiscal revenue. Trump wants to do too many things. For example, he also has an ICE private army called the New Gestapo to support. For example, he wants to attract the bottom MAGA voters for benefits. There are places to spend money everywhere. As piggy banks that have been kept in captivity by the United States for decades, it is difficult for allies not to be used in emergencies. The rise of gold, silver, precious metals, and the decline of risk asset Bitcoin are built on the backdrop of the breaking of existing political rules and the rapid rise of geopolitical risks. When the President of the United States leads the way in breaking all diplomatic rules and the world returns to the law of the jungle, gold, the "currency of the barbaric era," is the ultimate safe haven asset against geopolitical collapse and credit currency crises. Although Bitcoin is often regarded as digital gold, it is still considered a risky asset in the face of extreme political risks. More importantly, if the Trump government starts to attack various assets indiscriminately (or strengthen supervision to collect taxes) for the sake of dollar repatriation and fiscal revenue, cryptocurrency, which is not only not yet implemented, but also easily defined as an asset "competing with the dollar", will naturally be sold.