Ed Elson

where Trump suggested America would simply take Greenland, and he refused to rule out the use of military force.

Investors sold on that news.

$1.2 trillion in market value was erased.

But then he got bored of that idea, and then he decided to move on to the next thing.

Last year, he suggested firing Jerome Powell.

He said his termination, quote, cannot come fast enough.

Everyone sold, and then he turned around, and he said he had, quote, no intention of firing him.

He did the same thing with, of course, the tariffs.

The tariffs were on, and then they were off, and then they were on again and off again.

And with each announcement, trillions of dollars worth of stocks and bonds were traded each time it happened.

And so here we are again,

this time betting not on trade policy, but on all-out war.

But if there's anything we've learned at this point, it's that if you want to actually understand things, if you want to understand the global situation, if you want to get closer to the truth, well, then there is one thing that you should not be doing.

And that is you should not be listening to the president.

Because what we know now is that despite the power he has, his words genuinely mean nothing.

That doesn't mean he's necessarily lying right now, and it also doesn't mean he's telling the truth.

What it means is it means nothing.

There are no conclusions you can draw.

There are no predictions that you can make based on what he says.

And if you try, well, then you will fail, just as millions of traders have failed before you.