The Monthly Review: N.01 2026

In the January 2026 issue of The Monthly Review, Michele De Michelis analyzes the turbulent start of the year, marked by Donald Trump’s geopolitical moves — from Venezuela to Greenland — and rising tensions with the Federal Reserve. Despite political uncertainty, markets initially reacted strongly, supporting equities and precious metals, before showing signs of nervousness. The central message is a call for prudence: in complex environments, investors should be guided neither by euphoria nor by pessimism, but instead focus on true diversification, based on low correlation and protective positions acquired during calm periods.