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Ripple Effect

The Truth About Gold

Loading ...Andrew Packer

August 22, 2025 • 1 minute, 16 second read

goldinflation-adjusted returns
The Truth About Gold

If you’re a regular Grey Swan reader, you already know the value in gold.

But in case you’re still on the sideline… or know someone who is…

This is the chart to share:

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As measured against gold’s purchasing power, stocks have lost ground against the metal since 1971. (Source: TradingView)

Measured in gold, stocks have underperformed the metal since the U.S. left the remnants of the gold standard in 1971.

You can see a small blip in stocks around 2000, reflecting not only the dotcom bubble, but gold hitting a generational low.

Sure, if you only held Apple, Tesla, and NVIDIA over the past 15 years, you may have fared better. Different timeframes will lead to different results.

But it goes to show that even though stocks are the best game in town, there’s still a place for gold in your portfolio.

And right now, gold mining stocks are starting to break higher, buoyed by higher earnings and cash flow potential for quarters to come.

~ Andrew

P.S. The stock market may soon undergo a “Quickening” event, where stocks soar as several technologies accelerate from here.

If that’s the case, stocks may pick up some slack in the short-term. And investors in the right stocks can make huge gains.

But when it comes time to take some profits, consider investing some of it into gold — the metal continues to stand the test of time.

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

Restarting an America that Works

August 22, 2025 • Andrew Packer

The absolute bare minimum for a member of Congress is to be a voice for the people of their district.

As a Democrat or Republican, they have certain issues that may feel more important and worthy of time and legislation — but constituents need to be heard too, not just brushed off.

America works best when policies focus on creating a thriving and growing middle class, not supporting an oligarchic donor class.

Restarting an America that Works
JPow’s Last Gleaming

August 22, 2025 • Andrew Packer

Whoever runs the Fed, there’s a huge problem. The central bank likes to claim that it’s “data dependent.”

But as we explored yesterday in Grey Swan Live! with Matt Clark, the Chief Research Analyst over at Money & Markets, the data is flawed.

Over one-third of items used to calculate inflation are now based not on actual data, but on estimates. And the labor market’s massive revisions each month means that the headline data isn’t useful — although market algos trade off of it each month.

It’s been so bad that President Trump fired the head of the Bureau of Labor Statistics (BLS). The incoming head of the agency has discussed doing away with the data entirely until something better can come along.

JPow’s Last Gleaming
The Hard Fork: Foreign Policy Threatens to Split the Red Network

August 21, 2025 • John Robb

In 2016, the red network fell apart after the election, as nobody could agree on what to do once the objective was completed (i.e., getting Trump into office).

In 2024, the result was different. The red network became a loose association of large social media accounts that share a common resonance. This structure kept the network relatively cohesive after the election, and many of these large accounts became part of the new government.

However, since these large accounts don’t agree, but only resonate on some core themes, forks were inevitable. So, although the red network’s new configuration did provide it some much-needed cohesion, it wasn’t a complete solution to its core problem.

The Hard Fork: Foreign Policy Threatens to Split the Red Network
The Fed Is About to Repeat History

August 21, 2025 • Andrew Packer

With traders still betting on a quarter-point rate cut in September, we have just one simple question: Why?

After all, gold is near all-time highs. Ditto stocks. Even bitcoin, which hit an all-time high last week and is only down 8%.

The fact of the matter is, the Fed has a history of cutting interest rates while assets are still trending higher, if not near or at all-time highs.

The Fed Is About to Repeat History