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Beneath the Surface

You’ll Want to Mark “This” Date Down

Loading ...Addison Wiggin

December 5, 2024 • 3 minute, 21 second read


debt crisisgreat taking

You’ll Want to Mark “This” Date Down

“We do not have a debt crisis right now, but we see it coming. We know it’s irrefutably happening.”

–Paul Ryan

 

December 5, 2024 — It really comes down to one date… and one chart. The turning point in our nation’s monetary history.

Listen, we’ve just released our latest research.

While I’m working on a longer piece about the fall of the government in France and the brief stint of martial law declared in South Korea, both occurring this week, it occurs to me that a particular date will stand out in our minds as a turning point in the nation’s history… and we severely retard our ability to avert a crisis in the future.

I’ll let the presentation do the heavy lifting. But please take a look. What you’re about to learn will be hard for most Americans to hear. Maybe not you, but most… during a crisis, there are those who are prepared and those who get left behind.

The chart is one Washington and Wall Street have gone (and continue to go) to great lengths to suppress.

After all, it makes politicians and bankers look bad, the Federal Reserve Bank looks like a failure, and the current stock market boom is eerily similar to the 1999 runup in tech stocks before investors got creamed.

The event happened on Biden’s watch. And will go down with ignominy in the annals of United States history.

At the time, news outlets around the world should have covered the story.

But it came and went, with little fanfare…

The best way to explain what happened is with a picture of what I believe is the most important— and frightening— chart in economic history.

Turn Your Images On

To me, this obscure little chart explains practically everything going on in the economy right now. Including…

  • Why the wealth gap is getting wider — with the one percenters growing ever richer and ever more powerful, while the rest of America struggles to get ahead…
  • Why we saw 3 of the 5 biggest bank failures of all time in 2023. Failures that were even bigger than 2008! And why 63 banks are currently on the brink of failure today (yet the press and the power elite are downplaying this)…
  • And why corporate, private and public debt have now ALL reached never-before-seen heights.

Most importantly, and frighteningly, it explains a looming event that could soon devastate the U.S. economy. We expect to see the first rumblings in early 2025. From there, it’s only a question of how far a deeper crisis can be delayed, if at all.

In early 2023, when the second, third, and fourth-largest bank failures in U.S. history occurred, the Federal Reserve and Wall Street were able to create a firewall that stopped a full-blown meltdown of the financial system akin to the 2007-2008 crisis.

Next time, we may not be so lucky. Especially since over $3 trillion has been added to the national debt since then.

I urge you to watch our “controversial” new video outlining our latest research, and send it to everyone you know, before the Powers That Be wipe it from the internet.

CONTINUED BELOW…

The No. 1 Threat to the U.S. Economy Right Now

Turn On Your Images.

The rogue economist and New York Times bestselling financial author who has worked side-by-side figures like Warren Buffett, Alan Greenspan, Ron Paul, Jim Rickards, and Steve Forbes now warns:

“A stock market crash, inflation and recession — are the least of our worries. There’s a $36 trillion bombshell buried in the economy that carries the power to destroy not just the dollar, but the entire U.S. financial system.”

Full details are here…

CONTINUED…

Warn them of the shocking event to come, and move quickly now to protect your assets and your loved ones.

Regards,


Addison Wiggin,
Grey Swan

P.S. After you review the presentation, which we’ve dubbed the Great Taking, you’ll have an opportunity to join or renew your membership to the Grey Swan Fraternity.

Also, please keep letting me know what you think, right here: addison@greyswanfraternity.com.


The Grand Realignment Gets Personal

January 13, 2026 • Addison Wiggin

Sunday night, Powell addressed the probe head-on in a video post — a rarity. He accused the White House of using cost overruns in the Fed’s HQ renovation as a pretext for political interference.

The White House denied involvement. But few in Washington believed it.

What followed was bipartisan condemnation of the investigation. Greenspan, Bernanke, and Yellen co-signed a blistering rebuke, warning the U.S. was starting to resemble “emerging markets with weak institutions.”

The Grand Realignment Gets Personal
A Rising Sign of Consumer Stress

January 13, 2026 • Addison Wiggin

Estimates now indicate that the average consumer will default on a minimum payment at about a 15% rate – the highest level since a spike during the pandemic lockdown of the economy.

President Trump’s proposal over the weekend to cap credit card interest at 10% for a year won’t arrive in time to help consumers who are already missing minimum payments.

Not to fret, the other 85% of borrowers continue to spend on borrowed time. Total U.S. household debt, including mortgages, auto loans, student loans, and credit cards, reached record highs in late 2025, exceeding $18.5 trillion. This surge was driven partly by rising credit card balances, which neared their own all-time peaks due to inflation and higher interest rates.

A Rising Sign of Consumer Stress
Protest Season Amid the Grand Realignment

January 12, 2026 • Addison Wiggin

There’s an old Wall Street maxim: “Don’t fight the Fed.”

This year, you could add a Trump corollary.

A wise capital allocator doesn’t fight that storm. He doesn’t argue with it. He respects it the way sailors respect the sea: with preparation, with humility, and with a sharp eye for what breaks first.

In 2026, the things that break first are the stories. The narratives. The comfortable assumptions.

Protest Season Amid the Grand Realignment
Breaking: Government Budgets

January 12, 2026 • Addison Wiggin

Total municipal, state and federal debt service costs soared to nearly $1.5 trillion in the third quarter of 2025. Debt’s easy to accumulate when rates are low. Trouble is, you are obligated to refinance them even after rates go up.

It’s also a key reason why the Trump administration is demanding lower interest rates – even if it means reigniting inflation.

Breaking: Government Budgets