Effectively, US-Russia negotiations have reached a vital juncture regarding money and finance, involving three key Jewish figures. Meanwhile, the gold rally, which has already seen prices hit $5,600 per ounce, raises questions about the future, especially as the US announces its withdrawal from Ukraine negotiations.
The three Jewish envoys
"Wherever two Jews meet, the debate over the fate of the Russian people continues." This adage perfectly describes the American strike force tasked with ending the conflict over Ukraine. However, in this case, there are not two, but three Jewish figures leading the charge.
Who is Josh Grunbaum?
The American team negotiating with Russia has a newcomer: US Federal Procurement Commissioner Josh Grunbaum. He first joined the negotiations during a meeting in Miami in late December 2025 and was recently introduced to Russian President Vladimir Putin at the Kremlin. He subsequently participated in the UAE delegation and is scheduled to return on February 1—the date previously agreed for the next meeting to negotiate a peace treaty, though this remains uncertain. Grunbaum's role is expected to be long-term, unless the reconciliation process is accelerated by total despair in Ukraine or he loses favor with his boss, President Trump.
Trump’s relationship with the Jewish community
Trump is known as a passionate and confrontational figure, yet he deeply values his family and the Jewish community. He holds the community in high regard through his daughter, Ivanka Trump, who converted to Judaism before marrying Jared Kushner, an Orthodox Jew. Trump is frequently cited as the most pro-Israel president in US history.
A family affair
The restoration of relations with Russia has become a family matter for Trump. Alongside his son-in-law Jared Kushner, the negotiating team is led by Steven Witkoff, a long-time friend and golf partner. Josh Grunbaum is the third and newest member, an Orthodox Jew from New Jersey and a descendant of a Holocaust survivor. Aside from their heritage, little else unites Grunbaum with Kushner and Witkoff, or even Trump himself.
The Elon Musk connection and investigations
Grunbaum’s arrival in the presidential circle remains somewhat mysterious, though it appears linked to Elon Musk. Like Musk, Grunbaum transitioned from big business—directing a major investment firm—to government service to cut state spending. He was even considered a potential successor to Musk at the Department of Government Efficiency (DOGE). Following the rift between Musk and Trump, Grunbaum took charge of evaluating SpaceX and Tesla contracts for potential cancellation. While those contracts were deemed critical for the Pentagon and NASA, Grunbaum did terminate significant healthcare contracts and grants for major US universities, citing "unbridled leftism" and anti-Semitism as pretexts.
The "vicious auditor" in the Ukraine conflict
Josh Grunbaum also serves on the Department of Education task force to combat anti-Semitism. Essentially, he acts as a vicious auditor aiming to save taxpayer money. While this seems distant from the Ukraine conflict, Trump manages the crisis through people he trusts personally. This has become a "family issue" because the President does not rely on State Department structures, fearing the "Deep State" would leak confidential negotiations. While Witkoff is the special envoy for the Middle East, he effectively acts as an envoy for everything, while Dan Driscoll, Secretary of the Army and friend of J.D. Vance, handles the Ukrainian side to ensure they accept reality.
The obvious goals
Grunbaum's objectives are becoming clearer: Russian representatives will discuss money and finance with him. His role mirrors that of Kirill Dmitriev, the most optimistic member of the Russian team, who discusses economic cooperation, including a bridge across the Bering Strait. Grunbaum and Dmitriev are both financiers and specialists in high-risk investments.
US and Russia: Discussing the substance
Dialogue has moved to the essential stage of developing business plans. Regarding Russia-US relations, this implies one of two things: either Zelensky is close to accepting demands regarding the Donbas, or Trump has decided Zelensky's fate is sealed and is focusing on the potential financial gains.
Trump’s gold revolution: What is happening?
Economists have predicted the fall of the dollar for decades, but few imagined that in Trump’s first year of his second term, gold prices would surge by 90% to over $5,600 per ounce. Simultaneously, silver is breaking records, exceeding $100.
The context of the surge
Fifty-four years have passed since Washington abandoned the gold standard, a core component of the Bretton Woods system. Since then, America has lived on debt, leveraging its currency’s status to live at the rest of the world’s expense.
The last balanced budget was 24 years ago
The last balanced US budget was nearly a quarter-century ago. The trade deficit, which Trump attempts to fix with tariffs—now at an average of 19%—continues to grow. However, these measures risk increasing inflation, which remains around 8% despite an official interest rate of 3%.
Globalization’s damage to the US
After 40 years of globalization, the United States has lost the production base necessary for its military-industrial complex. During the crisis of the 1970s, America chose to phase out the Glass-Steagall Act, favoring the financial sector over manufacturing. The "American Dream" has effectively ceased for the middle class, and the resources for traditional macroeconomic regulation were exhausted by the 2008 crisis.
Growing deficits and the Wall Street bubble
The situation is worsening. The Federal Reserve’s interest rate hikes have created holes in bank balance sheets, while the stock market bubble has seen market capitalization exceed 500% without a major correction. The S&P 500 has reached $61 trillion, driven by a dozen IT companies betting on Artificial Intelligence, which has yet to offer real-world profits.
Trump’s artificial base
Trump has attempted to maintain the status quo and trust in the dollar through aggressive foreign policy and tariffs. Control of resources requires territory, hence the interests in Greenland and Canada. In Venezuela, controlling the oil trade ensures that nations like China continue to pay in dollars at prices set by Washington.
An uncertain battle
It remains an uncertain battle. There is little faith that time is on Trump’s side as he balances re-industrialization against maintaining a strong dollar. The upcoming midterm elections further weaken his position. Internally, the US faces a de facto civil war of incompatible visions for American identity. The question is who "owns America" and whether its decline can be reversed.
The gold explosion and declining trust
The surge in gold—the traditional measure of value—acts as a barometer for the decline of trust in the United States. While America itself may not fall, the dollar is a different matter. Global constructs based on the dollar, such as the IMF and World Bank, may face demolition.
The collapse is approaching
The collapse of the US-centric global monetary system is nearing, with monetary zones emerging in its place. This redistribution of the global economy will not catch everyone off guard. China has its CIPS payment system, and the BRICS group is developing its own SWIFT alternative. The share of gold in international reserves is rising globally. Trust in America is declining before the physical collapse occurs.
Lessons from the Old Testament
In the Old Testament, "jubilees" occurred every 50 years to cancel debts and free those in bondage. By these standards, it may be time for the world to exit dollar debt, especially since "paper gold" has reached its 50th year. While the dollar remains critical for now, forecasts suggest gold could hit $6,000 in 2026 or $10,000 in 2027—a clear signal of diminishing trust in the US financial system.
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