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Ripple Effect

Gold Sustains A “Real” Historic High

Addison WigginAddison Wiggin

September 9, 2025 • 56 second read


goldInflationinflation-adjusted returns

Gold Sustains A “Real” Historic High

Gold is up 171% versus the U.S. dollar since 2019.

There’s a genuine bull market in place here – 35% year to date.

More importantly, gold has now sustained above its inflation-adjusted high:

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Adjusted for inflation, gold is finally making new highs (Source: Bloomberg)

Gold’s peak of $800 back in 1980, adjusted for inflation, clicks in at $3,500 per ounce, making gold’s break above $3,600 the first all-time high in real, inflation-adjusted terms, in 44 years.

And retail investors have barely noticed.

The gold rally is but one reaction to persistent inflation — and this Terrifying Bull Market. Is not too late to buy.

~ Addison

P.S.: We see further upside in gold for several reasons — central bank buying, soaring M2  money supply… a global crisis in government debt… the endgame for global fiat… geopolitical concerns.

We’re experiencing the return of a 1970s-style macro environment. Gold could hit $10,000 by the end of the decade… and still have room to run. For a reasoned approach, check out our full research on the topic here.

If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.com.


Copper’s Clear Signal

August 17, 2026 • Addison Wiggin

Copper and resources are sending us a cleaner market signal than AI stocks.

Channeling Ludwig von Mises, we observe this morning that price is not just a number; it’s information. Price reflects what buyers and sellers collectively believe: demand, scarcity, fear, speculation, disappointment, future expectations and available supply.

When prices rise, and inventories fall at the same time, the message is usually straightforward: buyers need the stuff, and there is not enough of it.

Copper’s Clear Signal
Market Crash Insurance Is Cheap

August 14, 2026 • Addison Wiggin

A low VIX does not predict disaster. It measures complacency. A serial skeptic will read it as the calm before a storm. We shook off that feeling this morning and opted to pursue an opportunity instead.

Here goes:

A VIX reading below 15 means the market is not pricing in much near-term trouble, even though there are obvious risks still sitting in the room: Iran, oil prices, memory chip speculation, circular financing, high valuations, epic high concentrations, spiking long-term interest rates, a regime change at the Fed, a meltdown in Japan and a historic deficit and rising national debt.

Market Crash Insurance Is Cheap
Beware: Financial Innovation In AI

August 13, 2026 • Addison Wiggin

Money is not flowing in a clean, straight line from outside investors to productive businesses. The firms at the top are investing in and buying from each other.

Microsoft and OpenAI are the easiest examples to follow.

Microsoft says OpenAI has contracted to purchase an additional $250 billion in Azure services, while Microsoft continues to account for $13 billion in funding commitments to OpenAI as an investment.

Beware: Financial Innovation In AI
Signs of a Late-Stage Bull Market

August 12, 2026 • Addison Wiggin

At this stage, it’s a stock picker’s market.

We expect space, robotics and some more visible tech startups to remain sources of speculation. After weakness in the first half of 2026, we’re also due for a strong rotation of capital into natural resources, precious metals, critical minerals and energy.

Signs of a Late-Stage Bull Market