The Economy’s Top Doctor Is Under the Influence of Tariffs

In economics, we often focus on gold as a barometer of the monetary system’s health.

But it’s actually copper that’s known as Doctor Copper, for its economic predictive prowess.

That’s because copper prices tend to rise in an expanding economy, given copper’s ubiquitous use in everything from construction to high-tech gadgets.

Year-to-date, copper prices are surging higher, suggesting a rip-roaring economy:

Turn Your Images On

Copper prices hit a one-year high yesterday and
demand has soared ahead of potential copper tariffs.

The problem? Prices hit new highs as President Trump casually floated a 50% tariff on copper imports.

With copper imports soaring going into the news, it’s a sign that prices may be rising on pre-tariff demand. Much like how Apple filled airplanes full of iPhones from China before Trump kicked up tariff rates on Chinese goods.

For now, it’s another sign of the economic distortions being caused by President Trump’s Great Reset plan.

While copper prices may continue to rise, it’s going to be a wild ride with many pullbacks along the way. And this is your economy on tariffs – where even the trusted doctor is uncertainty stumbling along

~ Addison

“The Nvidia Killer”

Elon Musk is set to revolutionize the AI industry with his latest invention.

It could make a lot of people rich in the process…

All while triggering a crash of up to 50% in the next 12 months in Nvidia and other popular AI stocks.

Which is why this former hedge-fund manager is calling it “the Nvidia killer”.

Click here to see Elon Musk’s new invention now.

P.S. Paid members, please join us for Grey Swan Live! with Matt Milner , tomorrow, July 10 at 11 a.m. ET. With both private credit and private equity markets gaining pop trend status in the investment markets, we’ll dig deeper into Elon Musk’s SpaceX and xAI private placements — the next curveballs from the Trump arch-nemesis universe.

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

In economics, we often focus on gold as a barometer of the monetary system’s health.

But it’s actually copper that’s known as Doctor Copper, for its economic predictive prowess.

That’s because copper prices tend to rise in an expanding economy, given copper’s ubiquitous use in everything from construction to high-tech gadgets.

Year-to-date, copper prices are surging higher, suggesting a rip-roaring economy:

Turn Your Images On

Copper prices hit a one-year high yesterday and
demand has soared ahead of potential copper tariffs.

The problem? Prices hit new highs as President Trump casually floated a 50% tariff on copper imports.

For now, it’s another sign of the economic distortions being caused by President Trump’s Great Reset plan.

~ Addison

“The Nvidia Killer”

Elon Musk is set to revolutionize the AI industry with his latest invention.

It could make a lot of people rich in the process…

All while triggering a crash of up to 50% in the next 12 months in Nvidia and other popular AI stocks.

Which is why this former hedge-fund manager is calling it “the Nvidia killer”.

Click here to see Elon Musk’s new invention now.

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

Yesterday’s Fed meeting offered something for everyone.

For bullish investors, the quarter-point rate cut provided a clear signal. And the Fed is just about done with its quantitative tightening.

But for the bears, Powell doused expectations that a December rate cut was 100% on the table.

In the past, weapon systems took decades to build and changed slowly. Autonomy changes this. For example, new capabilities developed by field tests or simulation (testing scenarios in full physics simulators depicting actual environments) could be downloaded to existing weapon systems, making it possible to upgrade a weapon system significantly without any meaningful hardware changes. A process of improvement that used to take many years would shrink to weeks and, in time, days.

Markets heard what they wanted. NVIDIA’s stock surged premarket on news that Trump would discuss the company’s Blackwell AI chip with Xi, pushing it to an unprecedented $5 trillion valuation.

Meanwhile, China quietly bought its first cargoes of U.S. soybeans this season — a symbolic gesture that reminded traders that diplomacy still runs on trade.

“It’s not détente,” wrote Bloomberg’s Jennifer Welch this morning, “It is a dealmaking with a timer.” Wall Street is ambivalent on peace, but they do like profits.

In the background, China’s biotech sector continues its ethically murky sprint forward — this week, reports surfaced of Chinese scientists creating monkeys engineered to exhibit schizophrenia and autism.

A high concentration of capital in a few stocks at the top ranks high among the features we detailed in Anatomy of a Stock Market Bubble.

On days like yesterday, headlines urge investors to buy. However, they also underscore the fragility of this terrifying bull market: just a handful of names can make the difference between a big up day and a big down day.