The global money supply is growing quickly.
Still.
M2 — cash — is up $8 trillion in the past six months alone.
Annualized, global money is growing at a 12% rate. That’s 6 times the Fed’s 2% inflation target, and over 4 times the current pace:
While headline inflation is still under 3%, global money supply has grown 12% annually since 2020. (Source: Croseus_BTC via X)
Gold dropped nearly 2% yesterday. But with the massive increase in fiat currencies globally, that’s an opportunity to buy more cheaply.
With that much cash sloshing around the system, the “debasement trade” is a go.
Still.
~ Addison
P.S. Tomorrow on Grey Swan Live! — Thursday, October 23, at 2 p.m. ET — we’re going down the Anatomy of a Stock Market Bubble: the impressive list of historical records this terrifying bull market has already hit — including retail investor buy-in, record margin debt and capital concentration at the top of the S&P 500.
We’ll also lay out in simple terms the AI crash scenario. Mostly, so you’re aware of what’s at stake, where we think this market is going.
As Andrew Ross Sorkin, author of Too Big To Fail, said this week while promoting his new book “1929,” if we’re all in agreement this is a bubble in AI stocks, the trick is to “know when to get on [and more importantly] get off, the wave.”
Then, on Friday, October 24, at 2 p.m. ET, we’re going to do a comprehensive asset allocation and model portfolio review for paid-up annual members of the Grey Swan Investment Fraternity.
During the review session on Friday, we’ll be giving you access to an exclusive Plunge Protection Plan (for annual members only), including ways you can protect your money against a stock market correction and a few aggressive ways you can make money like the pros when the stock market goes down.
(Note: You still have time to subscribe and get the Plan on Friday. Click here for details.)
We’ll be providing more details throughout the week. But for now, mark your calendar for these two dates:
- Thursday, October 23, 2025 @ 2 p.m. ET — comprehensive overview of the “terrifying bull market.”
- Friday, October 24, 2025 @ 2 p.m. ET — a comprehensive review of the Grey Swan asset allocation strategy and model portfolio. (For paid up annual members only)
The time to prepare for a market correction is before it happens, not while or after. If you wait too long, the exits will get crowded in a hurry… and you don’t want to be worrying about your money if and when that happens.
If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.
