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Ripple Effect

America’s Just 12.3% of the Problem

Loading ...Addison Wiggin

June 27, 2025 • 2 minute, 5 second read


debtglobal debtGreat ResetUS debt

America’s Just 12.3% of the Problem

Last week, the total debt in the U.S. topped $37 trillion.

Of course, that debt doesn’t include what’s owed on transfer programs – think Social Security and Medicare. The real numbers without the accounting gimmickry are far worse.

But the U.S. isn’t alone. Surging debt levels are a global issue. Total world debt has topped $300 trillion:

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Total debt has been soaring at an unsustainable rate for nearly 30 years.

That makes America’s debt look piddling by comparison – a mere 12.3% of the total. It’s a global crisis waiting to happen.

But that’s not the issue as the Senate debates the “big, beautiful bill” ahead of the 4th of July holiday weekend.

After a spike during the pandemic,  U.S. debt-to-GDP ratio is still over 120% – and climbing again.

Historically, no country that crossed the 130%  debt-to-GDP ratio has been able to survive long enough to “grow its way out” of a debt crisis.

Therein lies the tension. The Trump Reset formula requires an extension of his first-term tax cuts, low and fair tariffs… and low interest rates.

It’s a tall order. And why he’s pushing to get economic growth on the table before the mid-term elections in November 2026. (To understand it all, we’ve prepared this research: Trump’s Great Reset).

~ Addison

The Next 9/11 Won’t Come from a Plane…

Turn On Your Images.

America is facing its greatest war threat in more than 80-years. But the next 9/11 won’t come from a plane. It’ll come from something that could wipe the entire continental U.S off the map. That’s why President Trump is secretly fast-tracking this top-secret $2.5 trillion defense initiative. It will make America untouchable. And could create generational wealth for early investors. Click here now to find out how.

P.S.: High debt is a feature of “fiat” money systems. Money printing leads to higher inflation and more money printing. Which, in turn, creates more inflation.

You get the idea. It’s a doom loop.

As you know, that’s why we like gold. Gold holds its intrinsic value in the face of inflation. You can read our report on gold’s historic rise here.

That said, with the stock market back to all-time highs and many headline fears disappearing, gold is likely to take a breather this summer… and give you a chance to buy in at a discount. Keep an eye out.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)


Hedge Funds Crowd the “Sell America” Trade

February 10, 2026 • Addison Wiggin

Funds net sold U.S. equities for a fourth straight week, at the fastest clip since the opening chapter of the Trump trade war on April 2, 2025.

Despite that positioning, the indexes pushed higher on Monday.

Dip buyers stepped in after last week’s slide and nudged indexes back toward their highs.
Chipmakers gained ground, and a software ETF tacked on close to 7% across two sessions, a quick counterpoint to the sector’s recent purge. Sameer Samana at Wells Fargo Investment Institute described the move as the market’s reflex after steep selloffs—fast hands cover, slower money watches.

Hedge Funds Crowd the “Sell America” Trade
Bitcoin Approaches Its Final Million

February 10, 2026 • Addison Wiggin

Every ten minutes, the bitcoin network completes another block of transaction data. Another bitcoin miner seeks a reward.

The reward is cut in half every four years, thanks to the “halving protocol” which established the coin’s scarcity algorithm. Next month, total bitcoin supply will hit 20 million, leaving just 1 million left to be mined.

Bitcoin Approaches Its Final Million
Broad Market Rally Meet Narrowing Political Window

February 9, 2026 • Addison Wiggin

The Nasdaq logged its fourth straight down week, pulled lower by the “SaaSpocalypse” in software.

Goldman Sachs’ Software Basket fell 16% for the week. Hedge fund exposure to software shrank sharply, according to Prime Book data.

Lou Miller, Goldman’s global head of Equity Custom Baskets, told clients that buyers remained scarce even as the group entered oversold territory.

In the late 1990s, telecom infrastructure outpaced demand, pricing compressed, and equity valuations adjusted long before usage caught up.

Today’s AI buildout carries healthier balance sheets and real utility, yet capital intensity remains high, and patience wears thin when returns depend on perfect adoption curves.

Broad Market Rally Meet Narrowing Political Window
Correlation Breakdown

February 9, 2026 • Addison Wiggin

The week’s trading revealed that a rotation out of high-flying tech into defensive names is well underway. The Dow, which includes broader, non-tech-related stocks, is starting the week above 50,000 for the first time in its history.  

Correlation Breakdown