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…

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.)

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:

Turn Your Images On

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.

~ Addison

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

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.

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

Debts and deficits will eventually cause a crisis. Treasury Secretary Scott Bessent’s effort to help bail out the Japanese Yen this week is entirely motivated by self-preservation. The contagion signal flashing in Japanese bonds since late ‘25 is infecting the BOJ, which may be forced to sell U.S. Treasurys to stabilize its own currency.

The copper price is no doubt benefiting from inflation driven by money printing. But the doc don’t lie. Copper’s new all-time highs, while gold and silver still languish, are a sign the AI growth story is also that of the global economy itself.

Many miners were profitable with gold around $2,000 and silver near $50. At sustained prices closer to $4,000 gold and $60 silver, the arithmetic changes dramatically.

The stock market is getting an unexpected boost to kick off August, bucking the historically weak summer session for the U.S. stock market.

What’s happening? The Bank of Japan and the U.S. Treasury are making a coordinated effort to support Japanese yen; a move last attempted nearly 30 years in the height of the Asian Financial contagion (1998).

Many miners were profitable with gold around $2,000 and silver near $50. At sustained prices closer to $4,000 gold and $60 silver, the arithmetic changes dramatically.

The stock market is getting an unexpected boost to kick off August, bucking the historically weak summer session for the U.S. stock market.