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Beneath the Surface

Five Years Later, “Mostly Peaceful” Is Back

Loading ...James Hickman

May 29, 2025 • 6 minute, 10 second read


South Africaviolence

Five Years Later, “Mostly Peaceful” Is Back

“Knowledge is a garden. If it isn’t cultivated, you can’t harvest it.”

– South African proverb

May 29, 2025 — On August 24 in the year 410 AD, a large army of Visigoths entered the city of Rome and rampaged through the streets for three full days.

They ransacked public buildings. They destroyed monuments. They looted wealthy homes. And they stole just about anything and everything that wasn’t nailed down. Only some churches were spared, given that their king was a Christian.

The Visigoths even desecrated Roman shrines– like the tomb of Augustus, where they dumped the former emperor’s ashes (which had been preserved for centuries).

News spread like a shockwave throughout the Mediterranean.

Within a few days, refugees and eyewitnesses had already brought the news across the imperial road network to Milan in the north and Ravenna in the east. Within a week, ships bearing the news arrived at major cities in North Africa like Carthage and Alexandria.

The famed theologian Saint Augustine was in modern day Algeria and received the news in early September. His contemporary Saint Jerome was all the way in Bethlehem, more than 1,500 miles from Rome, when he heard the news shortly after.

No one had any illusions about the state of the western Roman Empire at that point; it was so weak and feeble that Rome wasn’t even the capital city anymore; it had been moved to Ravenna nearly a decade prior.

But the city was still a legendary and powerful symbol of the Empire’s former strength. So news of it being sacked and pillaged traveled very quickly and was met with sadness and disbelief. People were stunned.

The sack of Rome was the ancient equivalent of the 9/11 attacks in 2001… one of those events that goes on to shape culture and history; where everyone knew that life would never be quite the same again; and where people ‘remember where they were’ when they heard the news.

My dad used to talk about the JFK assassination that way. I personally remember 9/11 like it was yesterday. Many of us probably have a similarly emblazoned memory about Covid, i.e. the day we knew something really bad was about to happen.

Then there was the death of George Floyd– also in 2020, exactly five years ago this past Saturday.

That infamous video came out of a man suffocating to death while multiple police officers looked on and did nothing. And it too became one of those history-defining, culture-shifting, seismic events.

Some of that change was positive and necessary, and helped to propel civilization forward.

Other change was completely ludicrous, including the media coverage.

The legacy media was already on thin ice at that point for their heavily tainted and histrionic COVID fear porn.

Continued Below…

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You probably remember how CNN and MSNBC used to have the real time body counts of how many people were supposedly dying of Covid; only later did we find out how inflated those numbers really were.

They preached constantly about how everyone must stay at home, wear masks, social distance, etc. And then the George Floyd protests started. Thousands of people were out in the streets packed together like sardines. No social distancing. No staying at home.

After months of being told we had to ‘shelter in place’, suddenly the media decided it was OK to be out in public… but only if you were protesting in the name of George Floyd.

It was as if everything they had been saying over and over again for the past few months was just thrown out the window and replaced with a new social justice theme. And, just like their coverage of Covid, the facts didn’t matter.

The public demonstrations quickly turned violent. Looters rampaged through the streets and plundered stores, stealing big-screen televisions and video game consoles– all in the name of Social Justice, of course.

And then the media tried to tell us that the protests were “mostly peaceful”. In other words, don’t trust your lying eyes. We’ll tell you what to believe.

That was probably the moment they lost any shred of their remaining credibility and viewers recognized them for the deceitful propaganda machine that they are.

Naturally, they never learned. And the propaganda didn’t stop. They later used this same approach to insist that Joe Biden was healthy, mentally vibrant, and vigorous. And they’re doing the same thing now with respect to attacks on white farmers in South Africa.

Donald Trump met with South Africa’s President (Cyril Ramaphosa) at the White House last week, and the media is in agony over the fact that Trump brought up the killings and said a “genocide” was taking place.

The media is now whining that Trump’s claims are false and part of a far-right conspiracy theory.

Reuters went out of its way to fact check the President, reporting that the total number of white farmers murdered in South Africa amounts to just 1,363… which is too small a number to be considered genocide or ethnic cleansing.

Wow. Hard to argue with that logic. Only 1,363 “mostly peaceful” murders.

Bear in mind that South Africa only has 32,000 commercial farmers. Even if we assume 100% of them are white, this would mean that 1 out of every 23 white farmers has been murdered. Not exactly great odds.

Reuters also, bizarrely, disputes President Trump’s claim that white farmers are having their land expropriated by the South African government.

Instead, Reuters states that white farmers have been “encouraged” to “sell their land willingly.”

Unfortunately, says Reuters, “that hasn’t worked,” so President Ramaphosa “signed a law in January allowing the state to expropriate land.”

So, just to be clear, Donald Trump said that white farmers in South Africa are having their farms expropriated. Reuters complains that this isn’t true. Yet three paragraphs later they said that Ramaphosa signed a law to expropriate land from white farmers.

This is championship level Orwellian doublespeak. You couldn’t make it up if you tried.

James Hickman
Schiff Sovereign & Grey Swan

P.S. from Addison: One of our Grey Swan predictions for 2025 was a rise in political violence. You’ll remember we published it on December 31, 2024 and before 24 hours had passed there was a politically motivated attack targeting revelers on Bourbon Street in New Orleans. Later that day in Las Vegas, the first of many violent instances involving Tesla cybertrucks in 2025.

It didn’t take long for that forecast to come true. But, at least, the United States has avoided extreme violence like what’s happening in South Africa. So far.

We will point out that since DOGE’s identified spending cuts didn’t get the axe following the GOP’s “Big, Beautiful” spending bill –  those who keyed Tesla cars and torched dealerships did so for nothing.

Late word from Andrew in Vegas today, too:

Turn Your Images On

Brandon Lutnick of Cantor Fitzgerald just announced they’re launching a gold-backed bitcoin fund. Sounds interesting. More details as Bitcoin 2025 wraps this evening.

Your thoughts? Please send them here: addison@greyswanfraternity.com

Our global tour continues this week, with a look at the violence in South Africa against farmers.


Marin Katusa: Silver Miner Q4 Earnings Will Set Records

January 16, 2026 • Addison Wiggin

Mining stocks amplify everything. First Majestic went from losing money to 45% margins without building anything new. They just held the line on costs while silver did the heavy lifting.

That cuts both ways. If silver drops hard, margins compress just as fast. Same leverage, opposite direction.

The miners with the lowest costs and cleanest balance sheets will hold up best in a pullback and capture the most upside if the deficit keeps grinding.

Marin Katusa: Silver Miner Q4 Earnings Will Set Records
“Dispersion Rising”

January 16, 2026 • Addison Wiggin

Economists at Goldman Sachs said this morning they expect core inflation to finish the year around 2% even while GDP rises at a “surprisingly strong” 2.5% clip.

In our view, their inflation forecast is optimistic. Their GDP call? Modest.

The last time we pumped this much liquidity into the system — 2020 through 2022—the result was a manic asset bubble, runaway inflation, and an epic hangover at the Fed.

Goldman’s optimism has triggered a fresh round of bullish bets: cyclical stocks are rallying, “dispersion” in the S&P 500 is spiking, and the Fed is expected to cut interest rates twice before Jerome Powell gets kicked out of Washington at the end of his term on May 15.

“Dispersion Rising”
The Boom Behind the Data

January 16, 2026 • Addison Wiggin

Anecdotally, we’re hearing stories of warehouses full of GPUs sitting unused for lack of energy to power them. It’s a natural feature of the heavy capital investment in new machines. The grid has to catch up!

While Trump’s great reset rolls on in 2026, keep an eye on modular nuclear reactors and increased demand for uranium, natural gas and related resources.

The Boom Behind the Data
The Economics of Precious Metals Stocks Today

January 15, 2026 • Shad Marquitz

These PM producers are literally printing the most ‘hard money’ that they ever have at these metals prices and record margins here at the midway point in Q4.

If there ever was a time for this sector to get overheated and frothy, this would be it… only that isn’t what we’ve seen playing out.

PM producers are still insanely profitable at even at current metals prices and should be far more valuable based on their margins, revenue generating potential, and their resources still in the ground.

The Economics of Precious Metals Stocks Today