Gold’s Primary Trend Remains Intact

August 29, 2025 • 1 minute, 22 second read

Gold is likely to trend higher in the months ahead. We expect the price to break $3,500.

It’s basic.

Whether you measure gold in dollars, Euro, yen, or rubles, those are fiat currencies. The supply of every one of them is growing faster than the new supply of gold coming to market.

Here’s a remarkable new fact:

Foreign central banks now hold more gold than U.S. Treasury assets.

Turn Your Images On

Global central banks continue to sell U.S. Treasury bonds and stockpile gold at near nominal all-time highs (Source: Bloomberg, Tavi Costa)

In modern finance theory, only U.S. T-bills are considered risk-free assets.

Central banks are telling us they believe the real risk-free asset is gold.

Our Grey Swan research shows exactly how the dynamic between government finance and gold is playing out in real time.

Take a look.

~ Addison

P.S. Yesterday’s Grey Swan Live! with Andrew Zatlin was phenomenally lucid. If you’re a paid-up member and you missed it – that’s a mistake.

We examined a historic setup in the stock market: seasonal weakness versus an ill-timed rate cut promise. The blow-off rally into 2026 is upon us. You’ll want to catch the full recoding, up on the Grey Swan site now.

P.P.S. Hopefully you’re also aware we’re hosting a free live tax seminar on how to keep more of your investment proceeds with IRS-compliant strategies today.

August 29, at 1 p.m. ET. Registration is free and easy — reserve your spot here.

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

Ripple Effect

Gold’s Primary Trend Remains Intact

Addison Wiggin

August 29, 2025 • 1 minute, 22 second read

central banks gold

Gold is likely to trend higher in the months ahead. We expect the price to break $3,500.

It’s basic.

Whether you measure gold in dollars, Euro, yen, or rubles, those are fiat currencies. The supply of every one of them is growing faster than the new supply of gold coming to market.

Here’s a remarkable new fact:

Foreign central banks now hold more gold than U.S. Treasury assets.

Turn Your Images On

Global central banks continue to sell U.S. Treasury bonds and stockpile gold at near nominal all-time highs (Source: Bloomberg, Tavi Costa)

In modern finance theory, only U.S. T-bills are considered risk-free assets.

Central banks are telling us they believe the real risk-free asset is gold.

Our Grey Swan research shows exactly how the dynamic between government finance and gold is playing out in real time.

Take a look.

~ Addison

P.S. Yesterday’s Grey Swan Live! with Andrew Zatlin was phenomenally lucid. If you’re a paid-up member and you missed it – that’s a mistake.

P.P.S. Hopefully you’re also aware we’re hosting a free live tax seminar on how to keep more of your investment proceeds with IRS-compliant strategies today.

August 29, at 1 p.m. ET. Registration is free and easy — reserve your spot here.

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

The Useless Metal that Rules the World

August 29, 2025 • Dominic Frisby

Gold has led people to do the most brilliant, the most brave, the most inventive, the most innovative and the most terrible things. ‘More men have been knocked off balance by gold than by love,’ runs the saying, usually attributed to Benjamin Disraeli. Where gold is concerned, emotion, not logic, prevails. Even in today’s markets it is a speculative asset whose price is driven by greed and fear, not by fundamental production numbers.

The Regrettable Repetition

August 29, 2025 • Addison Wiggin

Fresh GDP data — the Commerce Department revised Q2 growth upward to 3.3% — fueling the rally. Investors cheered the “Goldilocks” read: strong enough to keep the music going, not hot enough (at least on paper) to derail hopes for a Fed pivot.

Even the oddball tickers joined in. Perhaps as fittingly as Lego, Build-A-Bear Workshop popped after beating earnings forecasts, on track for its fifth consecutive record year, thanks to digital expansion.

Neither represents a bellwether of industrial might — but in this market, even teddy bears roar.

Socialist Economics 101

August 28, 2025 • Lau Vegys

When we compare apples to apples—median home prices to median household income, both annualized—we get a much more nuanced picture. Housing has indeed become less affordable, with the price-to-income ratio climbing from roughly 3.5 in 1984 to about 5.3 today. In other words, the typical American family now has to work much harder to afford the same home.

But notice something crucial: the steepest increases coincide precisely with periods of massive government intervention. The post-dot-com bubble recovery fueled by Fed easy money after 2001. The housing bubble inflated by government-backed mortgages and Fannie Mae shenanigans. The recent explosion driven by unprecedented monetary stimulus and COVID lockdown policies.

Nvidia, Buybacks, and the Market’s Blind Faith

August 28, 2025 • Addison Wiggin

It’s hardly a secret that the national debt has surpassed $37 trillion.

This morning, the Peter G. Peterson Foundation, released a survey showing 79% of Americans say they are deeply concerned about the fiscal outlook, across party lines. The Fiscal Confidence Index sits at 49 — well below neutral.

The public sees what the market ignores: pressure on interest rates, inflation risk, and a government living beyond its means.

Nvidia, Buybacks, and the Market’s Blind Faith