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Ripple Effect

Metals Get the Message

Addison WigginAddison Wiggin

June 2, 2025 • 1 minute, 19 second read


flowsgoldinvestment flows

Metals Get the Message
Masthead Image
June 2, 2025

Ripple Effect — June 2, 2025

Flows give us a sense of where the market is investing now – and that data can be divided between retail and institutional investors.

Even though the past few weeks have seen strong flows to bitcoin and relatively weak flows to gold, investments in the metal are rising at a record rate year-to-date:

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In other words, gold shouldn’t be written off yet. Not by a long shot. And our estimate that could gold could clear five-figures on the way to over $20,000 per ounce remains on track.

Good news for today’s gold holders – and likely good for opportunities in gold mining stocks, including the ones we’ve showcased in recent research.

~ Addison

Why did Trump Sign Executive Order 14156 Behind Closed Doors?

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There was no fanfare.

No big announcement.

But on January 20, 2025, President Trump signed an Executive Order that quietly redirects U.S. energy priorities toward a previously untapped source.

This “bonanza of clean energy” could power the world for 17 BILLION years, one estimate showed.

Full details and everything you need to know can be found right here.

P.S. Gold is just one part of he story as President Trump follows through on a Great Reset of the U.S. economy using tools such as tariffs and deregulation. This first phase isn’t pretty – we call it the Great Fire – of which gold and bitcoin play a role for safety. Click here for more details on how it could play out.

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


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