The US Dollar, Trading Like a Memecoin

We’re now in the second half of 2025. While market volatility may be the big story this year, the bigger story may be that of the U.S. dollar itself.

Year-to-date, it’s down over 10%.

That’s a huge move for any currency.

But usually the 10% moves occur in third-world countries experiencing a crisis, not the so-called world reserve currency.

Turn Your Images On

The U.S. dollar has sold off heavily year-to-date.

The greenback started the year at 52-week highs. So, part of the pullback would have simply been reversion to the mean – the tendency of assets to move back to their averages over time.

However, the further drop suggests a shift away from the dollar, just in time for the BRICS summit in Rio de Janeiro, which is underway this morning.

~ Addison

Why Are 21 Billionaires
Moving Their Money ASAP?

Under the surface of the U.S. financial system…

One of the biggest stock market events in 25 years is rapidly unfolding…

The economist who predicted the 2008 Financial Crisis says it will be: “The Biggest Crash of Our Lifetime.”

Starting August 27th — your favorite tech stocks like Nvidia, Apple, Microsoft, Google, and hundreds more could come crashing down…

Cutting the entire tech market by HALF – virtually overnight.

This is why the world’s financial elite are panic-selling stocks at the fastest rate in a decade.

To help you prepare…

Our guest expert is giving you his #1 stock to profit – 100% FREE.

P.S. The dollar’s weakening may have been the key push to get the stock market back to all-time highs, not anything fundamental. Many hedge funds are betting big on a pullback in the stock indexes. We’re also expecting continued weakness in the dollar globally.

Paid members, please join us for Grey Swan Live! with Matt Milner , Thursday, 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.)

We’re now in the second half of 2025. While market volatility may be the big story this year, the bigger story may be that of the U.S. dollar itself.

Year-to-date, it’s down over 10%.

That’s a huge move for any currency.

But usually the 10% moves occur in third-world countries experiencing a crisis, not the so-called world reserve currency.

Turn Your Images On

The U.S. dollar has sold off heavily year-to-date.

The greenback started the year at 52-week highs. So, part of the pullback would have simply been reversion to the mean – the tendency of assets to move back to their averages over time.

However, the further drop suggests a shift away from the dollar, just in time for the BRICS summit in Rio de Janeiro, which is underway this morning.

~ Addison

Why Are 21 Billionaires
Moving Their Money ASAP?

Under the surface of the U.S. financial system…

One of the biggest stock market events in 25 years is rapidly unfolding…

The economist who predicted the 2008 Financial Crisis says it will be: “The Biggest Crash of Our Lifetime.”

Starting August 27th — your favorite tech stocks like Nvidia, Apple, Microsoft, Google, and hundreds more could come crashing down…

Cutting the entire tech market by HALF – virtually overnight.

This is why the world’s financial elite are panic-selling stocks at the fastest rate in a decade.

To help you prepare…

Our guest expert is giving you his #1 stock to profit – 100% FREE.

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

Universal healthcare and “free” (taxpayer-funded) education and the rest of the redistributive voter bribes are ways of spending money, not generating it. Progressive taxation is a means of redistributing wealth, not producing it. The difference is non-trivial.

Countries like Kuwait and Norway are not rich because of their respective governments’ addiction to expensive giveaway programs, whatever one thinks of the merits or alleged compassion of such redistributive policies. They are wealthy despite them.

Down at the other End of the World, meanwhile, president Javier Milei has been busy liberating Argentina’s long-suffering citizens from three-quarters of a century of politicians’ worst laid plans. We’ll have more about the goings on in our adopted home later in the week.

From tax-law turnarounds to tariff theater, corporate spats, and labor dysfunction — all under the gaze of election season — this is a high-stakes narrative in real time. Trump, acting as hero and provocateur, has unleashed a ready-made script for midterm dominance — one that deeply impacts your investment blueprint.

If you’re going to win in this second half, you’ll need to align your portfolio with Trump’s moves, anticipate his counter-narratives, and hedge against the downside with tools like gold, and, yes, bitcoin.

But we’ll want to keep checking in with the plotline. Because in 2025, being on stage is the way to shape your results, not sitting in the audience.

The genius of the American experiment is that it allows for course correction — but only if we remember our role. Not as subjects, but as stewards.

Your role, good sir or wise gentle lady, is to continue doing what you’ve always done: managing your affairs with clear eyes and a steady hand, educating those who’ll carry the torch, and resisting the ever-present temptation to comply just for comfort’s sake.

Yes, the government will grow. Yes, the financial world may turn inside out before breakfast — possibly before your second cup of coffee. But you still have the right to think. To choose. To invest in your own way.

For now, the mixed economic data means stocks will likely trend higher, until there’s a crisis. And when there is a crisis, the Fed will finally make its move and aggressively cut rates.

And, for now, bond yields are still near their highest level in 15 years. Bond yields, even on U.S. Treasury bonds, are over the rate of inflation.

In short, it’s not a bad time to lock in bond yields now – which will go lower during a crisis, pushing bond prices higher. And in a crisis, today’s high-flying stocks, driven by retail investors with a fear of missing out – could easily get crushed.

But we’ll want to keep checking in with the plotline. Because in 2025, being on stage is the way to shape your results, not sitting in the audience.

The genius of the American experiment is that it allows for course correction — but only if we remember our role. Not as subjects, but as stewards.

For now, the mixed economic data means stocks will likely trend higher, until there’s a crisis. And when there is a crisis, the Fed will finally make its move and aggressively cut rates.

And, for now, bond yields are still near their highest level in 15 years. Bond yields, even on U.S. Treasury bonds, are over the rate of inflation.

The US Dollar, Trading Like a Memecoin

Why Are 21 Billionaires Moving Their Money ASAP?

The US Dollar, Trading Like a Memecoin

Why Are 21 Billionaires Moving Their Money ASAP?

Why Are 21 Billionaires
Moving Their Money ASAP?

Why Are 21 Billionaires
Moving Their Money ASAP?