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.)

Our forecast will feel obvious in hindsight and controversial in advance — the hallmark of a Grey Swan.

Most analysts we speak to are thinking in terms of the history of Western conflict.

They expect full-frontal military engagement.

Beijing, from our modest perch, prefers resolution because resolution compounds its power. Why sacrifice the workshop of the world, when cajoling and bribery will do?

Taiwan will not fall.

It will merge.

Wars, technology races, and political upheavals — all of them rest on fiscal capacity.

In 2026, that capacity will tighten across the developed world simultaneously. Democracies will discover that generosity financed by debt carries conditions, whether voters approve of them or not.

Bond markets will not shout so much as clear their throats. Repeatedly.

Taken together, the seven Grey Swans of 2025 behaved less like isolated events and more like interlocking stories readers already recognize.

The year moved in phases. A sharp April selloff cleared leverage quickly. Policy shifted toward tax relief, lighter regulation, and renewed tolerance for liquidity. Innovations began to slowly dominate the marketplace conversation – from Dollar 2.0 digital assets to AI-powered applications in all manner of commercial enterprises, ranging from airline and hotel bookings to driverless taxis and robots.

Back in April, when we published what we called the Trump Great Reset Strategy, we described the grand realignment we believed President Trump and his acolytes were embarking on in three phases.

At the time, it read like a conceptual map. As the months passed, it began to feel like a set of operating instructions written in advance of turbulence.

As you can expect, any grandiose plan would get all kinds of blowback… but this year exhibited all manner of Trump Derangement Syndrome on top of the difficulty of steering a sclerotic empire clear of the rocky shores.

The “phases” were never about optimism or pessimism. They were about sequencing — how stress surfaces, how systems adapt, and what must hold before confidence can regenerate. And in the end, what do we do with our money?!