The Endgame for Fiat? Currency, Credit, and the Case for Gold

November 3, 2024 • 47 second read

I am travelling this weekend so today’s thought piece is a conversation, which Mining Network recorded last week week between veteran gold guru, Alasdair Macleod, and myself.

It’s heavyweight goldbug stuff. I hope you enjoy it.

You can watch it below, but I have also ripped the audio so you have the option to listen to that if you prefer to escape the clutch of your screens.

If you are thinking of buying gold to protect yourself in these uncertain times, I recommend The Pure Gold Company. Pricing is competitive, quality of service is high. They deliver to the UK, US, Canada and Europe or you can store your gold with them. More here.

I’ll be MCing this year’s Moneyweek Summit this coming Friday November 8th. Readers of the Flying Frisby can get a 20% discount by entering the code FRISBY20

And if you are interested in hearing more from Alasdair, he has a Substack too.

Beneath the Surface

The Endgame for Fiat? Currency, Credit, and the Case for Gold

Dominic Frisby

November 3, 2024 • 47 second read

fiat currencies gold

I am travelling this weekend so today’s thought piece is a conversation, which Mining Network recorded last week week between veteran gold guru, Alasdair Macleod, and myself.

It’s heavyweight goldbug stuff. I hope you enjoy it.

You can watch it below, but I have also ripped the audio so you have the option to listen to that if you prefer to escape the clutch of your screens.

I’ll be MCing this year’s Moneyweek Summit this coming Friday November 8th. Readers of the Flying Frisby can get a 20% discount by entering the code FRISBY20

And if you are interested in hearing more from Alasdair, he has a Substack too.

Seven Grey Swans, One Investment Strategy

January 5, 2026 • Addison Wiggin

The entire process of reviewing forecasts and then issuing new ones has made us more intensely focused on our purpose. We’re not actually trying to “predict the future” to parody the disdain with which so many lazy media pundits would dismiss our approach.

Rather, we’re examining trends in the news cycle and trying to separate the wheat from the chaff. What signals are coming through stronger than the nauseating cacophony of Washington and Wall Street, amplified by legacy and social media alike?

There are years when markets feel confusing because they are volatile. And there are years when they feel confused because the old explanations no longer work.

Seven Grey Swans, One Investment Strategy

Debt Hangover? Nah…

January 5, 2026 • Addison Wiggin

To start the year, the U.S. government didn’t bother with a hangover, rather it continues to spend so profligately that if we compared it to a drunken sailor, we’d have to apologize to the sailor.

Closing out 2025, America managed to rack up over $38 trillion in “official” debt. Looking at debt relative to GDP, it’s back over 121%.

Grey Swan #1: The Age of Intelligence: Rise of the Network State

January 2, 2026 • Addison Wiggin

The Grey Swan is not the invention of artificial intelligence. It is the moment the public understands that incentives have changed.

Network economics reward different behaviors than factory economics. Platform states operate by different rules than welfare states. Coordination outruns legislation. Culture lags technology. Conflict follows the gap.

In Financial Reckoning Day, we described how systems adapt when fiscal choices narrow. The Age of Intelligence represents that adaptation in software and silicon.

By the end of 2026, most people will recognize that machines now think alongside humans in logistics, finance, and planning. Some jobs disappear. Others appear. Output improves faster than consensus expects. Politics argues. Markets enforce discipline.

Grey Swan #1: The Age of Intelligence: Rise of the Network State

Grey Swan #2: The Crack-Up Boom Reaches Terminal Velocity

January 1, 2026 • Addison Wiggin

The crack-up boom does not signal immediate collapse. Monetary policy gets a new master… inflation rages… and investors chase stocks as a means of keeping pace with their savings.

Markets may even finish 2026 higher than they begin. Many investors will still lose purchasing power along the way. Terminal velocity will feel like momentum… until reality hits.

In 2026, expect breathtaking advances, with the AI narrative remaining dominant, and sudden reversals to occur quickly. Expect liquidity to remain plentiful and erode discipline even more.

Grey Swan #2: The Crack-Up Boom Reaches Terminal Velocity

Seven Grey Swans, One Investment Strategy

January 5, 2026 • Addison Wiggin

There are years when markets feel confusing because they are volatile. And there are years when they feel confused because the old explanations no longer work.

Debt Hangover? Nah…

January 5, 2026 • Addison Wiggin

Closing out 2025, America managed to rack up over $38 trillion in “official” debt. Looking at debt relative to GDP, it’s back over 121%.

Grey Swan #1: The Age of Intelligence: Rise of the Network State

January 2, 2026 • Addison Wiggin

The Grey Swan is not the invention of artificial intelligence. It is the moment the public understands that incentives have changed.

In Financial Reckoning Day, we described how systems adapt when fiscal choices narrow. The Age of Intelligence represents that adaptation in software and silicon.

Grey Swan #2: The Crack-Up Boom Reaches Terminal Velocity

January 1, 2026 • Addison Wiggin

The crack-up boom does not signal immediate collapse. Monetary policy gets a new master… inflation rages… and investors chase stocks as a means of keeping pace with their savings.

Markets may even finish 2026 higher than they begin. Many investors will still lose purchasing power along the way. Terminal velocity will feel like momentum… until reality hits.

In 2026, expect breathtaking advances, with the AI narrative remaining dominant, and sudden reversals to occur quickly. Expect liquidity to remain plentiful and erode discipline even more.