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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.


Hedge Funds Crowd the “Sell America” Trade

February 10, 2026 • Addison Wiggin

Funds net sold U.S. equities for a fourth straight week, at the fastest clip since the opening chapter of the Trump trade war on April 2, 2025.

Despite that positioning, the indexes pushed higher on Monday.

Dip buyers stepped in after last week’s slide and nudged indexes back toward their highs.
Chipmakers gained ground, and a software ETF tacked on close to 7% across two sessions, a quick counterpoint to the sector’s recent purge. Sameer Samana at Wells Fargo Investment Institute described the move as the market’s reflex after steep selloffs—fast hands cover, slower money watches.

Hedge Funds Crowd the “Sell America” Trade
Bitcoin Approaches Its Final Million

February 10, 2026 • Addison Wiggin

Every ten minutes, the bitcoin network completes another block of transaction data. Another bitcoin miner seeks a reward.

The reward is cut in half every four years, thanks to the “halving protocol” which established the coin’s scarcity algorithm. Next month, total bitcoin supply will hit 20 million, leaving just 1 million left to be mined.

Bitcoin Approaches Its Final Million
Broad Market Rally Meet Narrowing Political Window

February 9, 2026 • Addison Wiggin

The Nasdaq logged its fourth straight down week, pulled lower by the “SaaSpocalypse” in software.

Goldman Sachs’ Software Basket fell 16% for the week. Hedge fund exposure to software shrank sharply, according to Prime Book data.

Lou Miller, Goldman’s global head of Equity Custom Baskets, told clients that buyers remained scarce even as the group entered oversold territory.

In the late 1990s, telecom infrastructure outpaced demand, pricing compressed, and equity valuations adjusted long before usage caught up.

Today’s AI buildout carries healthier balance sheets and real utility, yet capital intensity remains high, and patience wears thin when returns depend on perfect adoption curves.

Broad Market Rally Meet Narrowing Political Window
Correlation Breakdown

February 9, 2026 • Addison Wiggin

The week’s trading revealed that a rotation out of high-flying tech into defensive names is well underway. The Dow, which includes broader, non-tech-related stocks, is starting the week above 50,000 for the first time in its history.  

Correlation Breakdown