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Ripple Effect

The Great Gold Run

Loading ...Addison Wiggin

October 13, 2025 • 1 minute, 8 second read


gold

The Great Gold Run

For all the thousands of hours reading, analyzing, talking and hand-wringing, buying and holding gold has been a better investment in the 21st century than stocks.

The comparison is not even close:

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Gold prices are up 10X century-to-date, about twice the total return of the S&P 500 (Source: Sherwood)

Of course, gold started the century undervalued. Great Britain sold off its gold holdings in 1999, sending the metal down $253 per ounce.

Today, in a world of increasingly volatile markets, the rise of too-big-to-fail institutions, and over 26 years of money printing, gold’s rise, priced in U.S. dollars, is just getting started.

As we’ve been forecasting, gold could rise significantly from here, simply to match changes in the money supply over the decades.

With the U.S. dollar going digital, entering a new regulatory phase, gold’s case looks better than ever.

~ Addison

P.S. Our latest research with Ian King regarding Dollar 2.0, which we filmed last Tuesday, will be released on October 16 in a special edition of Grey Swan Live!

Our work details the next leg of stablecoin development and which three companies we expect will dominate the new regulatory environment for the monetary system as digital assets go mainstream. Keep your eyes peeled this Thursday.

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If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.com.


How To Know When It’s the Top

October 31, 2025 • Dominic Frisby

My mum remembers the gold fever – and indeed the silver fever (silver spiked to $50 three days earlier on January 18). Even today, 45 years on, the silver price is lower than it was then – that’s how insane that spike was.

She recalls people queuing up to sell their family silver. Not to buy it. To sell it.

So that is something I am looking for to tell than this bull market is close to an end: when retail, ordinary people, start selling their physical in droves.

We are not there yet.

How To Know When It’s the Top
Things You Cannot Unsee

October 31, 2025 • Addison Wiggin

After yesterday’s meeting between Presidents Trump and Xi, the world’s two largest economies agreed to reduce the 20% fentanyl-related tariffs to 10%, while Beijing paused its rare earth export restrictions.

The markets would normally have cheered such détente. But investors were still haunted by Jerome Powell’s warning that the Fed may not cut rates again in December. And a renewed awareness that the AI bubble may, in fact, be in the “melt-up” phase… driven by expansive capital expenditures, financed by debt. 

Things You Cannot Unsee
1998, Redux

October 31, 2025 • Addison Wiggin

In his press conference after lowering interest rates a quarter point this week, Federal Reserve Chairman Jerome Powell laid out the case that the AI boom was nothing like the dotcom bubble.

There’s just one problem. The market is following the dotcom boom nearly perfectly – with 2025 following closely to 1998.

1998, Redux
Socialism Whacked

October 30, 2025 • Bill Bonner

Milei, meanwhile, is doing something different. He’s cutting budgets, trimming employees, and chopping off unnecessary bureaucratic appendages. He’s been in office for a little shy of two years. During that time, he’s reduced inflation by about 90% and cut the budget deficit by 100%. Argentina has climbed out of its almost permanent recession to have the fastest growing economy in the Americas, with GDP growth more than twice that of the US. Real wages have tripled. And poverty has been cut by 40%.

Socialism Whacked