Money Flows Haven’t Even Started to Favor Gold Yet

November 5, 2025 • 1 minute, 9 second read

Following the money isn’t just good journalism – it’s good for determining investment trends. And following the cumulative flows of money since 2020, gold still hasn’t caught investor interest:

Turn Your Images On

Gold has had less than 5% the capital flows of stocks over the past five years. (Source: BofA Global Research)

The gold rally to over $4,400 this year has been driven by central bank buying and a supply crunch – not retail investors’ interest.

If AI stocks are, in fact, about to crash, as Harry Dent and Adam O’Dell will be making the case for today, gold’s sitting at a 10% discount to the market high.

~ Addison

P.S. As you know, since the release of Anatomy of a Stock Market Bubble, we’ve been highlighting signs of a bubble when we see them. Tomorrow on Grey Swan Live! we’ll be joined by bestselling author Harry Dent on the cross-section between AI, shifting generational demographics, and what happens when the terrifying bull market gets even more terrifying…

We’ll go behind the scenes of Harry’s releasing his own “AI Crash” forecast with Grey Swan collaborator Adam O’Dell, which comes out this afternoon.

To get on the list to receive Harry and Adam’s research findings, click here. Don’t wait, their research comes out at 1pm today.

Feel free to send your Grey Swan Live! questions for Harry to feedback@greyswanfraternity.com.

Ripple Effect

Money Flows Haven’t Even Started to Favor Gold Yet

Addison Wiggin

November 5, 2025 • 1 minute, 9 second read

gold Money flows

Turn Your Images On

Gold has had less than 5% the capital flows of stocks over the past five years. (Source: BofA Global Research)

The gold rally to over $4,400 this year has been driven by central bank buying and a supply crunch – not retail investors’ interest.

If AI stocks are, in fact, about to crash, as Harry Dent and Adam O’Dell will be making the case for today, gold’s sitting at a 10% discount to the market high.

~ Addison

We’ll go behind the scenes of Harry’s releasing his own “AI Crash” forecast with Grey Swan collaborator Adam O’Dell, which comes out this afternoon.

To get on the list to receive Harry and Adam’s research findings, click here. Don’t wait, their research comes out at 1pm today.

Feel free to send your Grey Swan Live! questions for Harry to feedback@greyswanfraternity.com.

Frank Holmes: What Gold Reveals About America’s Affordability Crisis

December 15, 2025 • Addison Wiggin

A generation ago, a single income could support a family, buy a house and pay for a vehicle or two in the driveway.

Today, even two high earners are struggling to purchase a new home.

According to a recent report from Bankrate, a household earning $80,000 a year is now priced out of 75% of all new homes on the market. A family now needs to earn at least $113,000, and in some major metros, it’s closer to $200,000.

Meanwhile, the homeownership rate has slipped to a six-year low, with further declines expected next year. Families are being squeezed from every angle.

The point I want to make here is that the so-called affordability crisis isn’t just about the cost of homes or other assets. It’s about the cost of money.

Frank Holmes: What Gold Reveals About America’s Affordability Crisis

The Long-Term Cost of Denial

December 15, 2025 • Addison Wiggin

In just the first two months of Fiscal Year 2026, the deficit already totals $458 billion — the second-largest start on record.

More troubling still, the net interest expense hit $179 billion, outrunning Medicare, defense, and healthcare. At this pace, interest will again be the fastest-growing line item in the federal budget.

Cisco Hits An All-Time High

December 15, 2025 • Addison Wiggin

At the absolute peak of the dot-com boom — routers stacked to the ceiling and PowerPoint masquerading as profits — Cisco’s market capitalization topped out at roughly 4.4% of U.S. GDP.

Nvidia today? Roughly 16% of U.S. GDP.

That’s not a rounding error.

Measured against the size of the economy, Nvidia is in a category Cisco never visited. Which means that any serious disappointment in the AI build-out would scale 2000–01 – geometrically.

From Permission to Possession

December 12, 2025 • Addison Wiggin

America has consistently reinvented itself in times of crisis. The founders survived monarchy. Lincoln survived disunion. We’ve survived bank panics, oil shocks, stagflation, and disco. We’ll survive deplatforming, too.

The Second American Revolution won’t be fought with muskets or manifestos. It won’t be fought with petty violence and street demonstrations. It will be written into code. And available to those who wish to take advantage of it.

Russell Kirk called the first American Revolution “a revolution not made, but prevented.” The second will be the same. We’re not tearing down the house — we’re going to rewire it in code.

The result may not be utopia. But it will be freedom you can bank on.

Frank Holmes: What Gold Reveals About America’s Affordability Crisis

December 15, 2025 • Addison Wiggin

A generation ago, a single income could support a family, buy a house and pay for a vehicle or two in the driveway.

Today, even two high earners are struggling to purchase a new home.

Meanwhile, the homeownership rate has slipped to a six-year low, with further declines expected next year. Families are being squeezed from every angle.

The point I want to make here is that the so-called affordability crisis isn’t just about the cost of homes or other assets. It’s about the cost of money.

The Long-Term Cost of Denial

December 15, 2025 • Addison Wiggin

In just the first two months of Fiscal Year 2026, the deficit already totals $458 billion — the second-largest start on record.

Cisco Hits An All-Time High

December 15, 2025 • Addison Wiggin

At the absolute peak of the dot-com boom — routers stacked to the ceiling and PowerPoint masquerading as profits — Cisco’s market capitalization topped out at roughly 4.4% of U.S. GDP.

Nvidia today? Roughly 16% of U.S. GDP.

That’s not a rounding error.

Measured against the size of the economy, Nvidia is in a category Cisco never visited. Which means that any serious disappointment in the AI build-out would scale 2000–01 – geometrically.

From Permission to Possession

December 12, 2025 • Addison Wiggin

Russell Kirk called the first American Revolution “a revolution not made, but prevented.” The second will be the same. We’re not tearing down the house — we’re going to rewire it in code.

The result may not be utopia. But it will be freedom you can bank on.