The Aggression Tax
The Aggression Tax

The Hold Report by The Hold Report

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Tue, Jan 20, 2026

The Trump trade is on pause. The survival trade has begun. Gold (up 3.7%), Silver (up 6.9%), S&P 500 (down 2.1%), Nasdaq (down 2.4%).

The market is dumping anything that requires a functional government (Stocks, Crypto, Tech) and buying anything that survives the apocalypse (Gold, Oil, Silver). Why? Because today, the world found out the price of Donald John Trump's ego.

The S&P 500 fell 2.1% – the steepest drop since October. A text message from Donald John to Norwegian Prime Minister Jonas Gahr Støre was released, linking the new tariffs on NATO allies directly to his Nobel Peace Prize snub.

The Text: "Considering your country decided not to give me the Nobel Peace Prize... I no longer f ... 

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