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Ripple Effect

Metals Get the Message

Loading ...Addison 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.)


The Hindenburg Five

February 24, 2026 • Addison Wiggin

The stock market “rebalancing” is a polite way to put it. Energy and health care are getting a healthy boost. But tech hardware and software makers are still getting dressed down and have been asked to report to the principal’s office.

The great rotation underway has triggered a series of “Hindenburg Omens.” Five have occurred in recent weeks.

The Hindenburg Five
Piercing The Veil

February 23, 2026 • Addison Wiggin

The S&P 500 has traded in a 3.7% range over the past two months — less than half the 20-year median of 8.6%. One of the tightest ranges in modern history.

In trader parlance, the indexes are “flat,” a setup that often materializes before a sell-off at the top after a multi-year bull market.

Goldman Sachs told its own traders to be aware that institutional trading activity resembles a VIX reading near 35. Rather than a reading of 20, where the VIX has been trading over that same 2-month period.

The U.S. software ETF, IGV, tested its April 2025 lows last week and trades roughly 35% below its peak. The “SaaS-pocalypse” in software companies reflects the fear of Citrini’s 2028 scenario happening in real time.   That divergence now exceeds the spread seen at the peak of the Great Financial Crisis.

Under the surface, the “great rotation” we wrote about last week is threatening to widen.

Piercing The Veil
Oh. Canada

February 23, 2026 • Addison Wiggin

Despite its overly-educated 40-million-plus population, on a GDP per capita basis Canada is null. Collectively, the Great White North would rank as America’s second-lowest state, coming in above Mississippi, but below Alabama.

Oh. Canada
Matt Milner: SpaceX + xAI: What It Means for You

February 20, 2026 • Addison Wiggin

SpaceX is the most valuable private startup in history — and if its success continues, it might become the most valuable public company in history.

After all, as Musk famously said in 2023, “I have never lost money for those who invest in me and I am not starting now.”

For investors, SpaceX has been a wild, joyful ride — and now the journey continues!

Matt Milner: SpaceX + xAI: What It Means for You