The Bureau of Land Management is a federal agency that controls 245 million acres of land and controls 30% of the country’s mineral resources. On the East Coast, it manages little land but manages an enormous share of Western states. It owns over two-thirds of Nevada. This gives the federal government enormous sway over the West. Want to go hunting? Want to start a logging company? Want to go hiking? Better make sure it’s okay with the federal government first.
In the realm of institutional asset management, the copper/gold ratio (blue line) has served as a key indicator for some, providing insights into the potential trajectory of 10-year Treasury yields (red line).