The Seigniorage of Tokens: AI-EraDigital Sovereignty and Global ComputePower Competition

1. Executive Summary In the global economic landscape of 2026, Artificial Intelligence (AI) has evolved from a technical auxiliary tool into a core engine driving growth. This report introduces the core analytical framework of “Token Seigniorage” to reveal the deeper logic of power distribution in the AI era. Tokens (lexical units), as the smallest unit […]

Iran-Israel-U.S.: The Logic of Attrition and the Geopolitical Endgame

I. Executive Summary The current conflict in the Middle East has progressively evolved from an initial phase of high-intensity “decapitation strikes” into a sustained “war of attrition.” While the joint U.S.-Israeli operation targeting Iran’s Supreme Leader, Ayatollah Ali Khamenei, severely impacted the Iranian regime in the short term, it failed to dismantle its underlying will […]

Iran “Decapitation Strike”

Wartime Governance, Strategic Resilience, and Geopolitical Shocks I. Executive Summary On February 28, 2026, a joint U.S.-Israeli “decapitation strike” resulted in the assassination of Iran’s Supreme Leader, Ayatollah Ali Khamenei. By March 9, 2026, the Assembly of Experts confirmed his son, Mojtaba Khamenei, as the new Supreme Leader. This wartime succession marks an unprecedented phase […]

Kevin Warsh and the Potential Pivot of the Federal Reserve

Personal Background, Policy Philosophy, and the Risk of Repoliticizing U.S. Monetary Governance Executive Summary The nomination of Kevin Warsh as Chair of the Federal Reserve represents more than a mere change in personnel; it signals the most significant “institutional pivot” for the Fed since the era of Paul Volcker. As an “insider challenger,” Warsh’s core […]

The January 13 Watershed

Geoeconomic Weaponization and the Strategic Roadmap for Iranian Regime Transition Executive Summary January 13, 2026, is regarded as a “strategic watershed” in Middle Eastern geopolitics. On this day, U.S. President Donald Trump not only transformed Iran’s domestic issues into a global economic and trade survival choice through a “25% tariff,” but also signaled a shift […]

From Decapitation to De Facto Trusteeship

The Strategic Logic, Energy Restructuring, and Global Monetary Order Shock of the US Takeover of Venezuela Executive Summary  On January 3, Eastern Time, US President Donald Trump announced that US forces had successfully captured Venezuelan President Nicolás Maduro and his wife. This surprise operation sent shockwaves through the international community. This report argues that the […]

Thailand Prime Minister Anutin’s Political Calculus

The Thai-Cambodia Conflict, Civil–Military Relations, and the 2026 Election Outlook  Executive Summary  Thai Prime Minister Anutin Charnvirakul’s hardline stance during the Thai–Cambodia border conflict in the second half of 2025 reflects a convergence of domestic political motivations, civil–military relations, and electoral considerations, rather than a response driven purely by border security concerns. This assessment concludes that Anutin’s strategy has been […]

ms_MYMalay