| Ripple Effect — September 17, 2025
The runaway winner for 2025 hasn’t been on-again, off-again big tech.
Rather, it’s been the trend higher in mining stocks – particularly gold stocks.
The sector as a whole has more than doubled, with the Van Eck Gold Miners ETF, GDX, up 103% year-to-date.
Good stuff, if you’re paying attention.
And there’s more runway ahead. A look at the weighting of gold compared to other stocks suggests there’s still a massive undervaluation:  Gold mining shares remain well under their historic valuations. (Source: Statista) With gold prices continuing to push higher – and with central bankers buying hand over fist – gold miners should continue to see expanding profits.
That’s in sharp contrast to the rest of the market, where any potential slowdown in AI could cause a break lower.
The Fed, bending to political winds, is likely to join its global counterparts in cutting interest rates today. There’s more yet to the story for gold and the gold miners – as we forecast a year ago.
~ Addison |  Breaking: China’s Xi Jinping, Russia’s Vladimir Putin, and North Korea’s Kim Jong Un were standing shoulder to shoulder in Beijing. This rare meeting has experts alarmed. Why? Because it signals the rise of a new axis of power — one that is openly hostile to the U.S.. Wall Street insider John Browne has been warning and urging Americans to prepare immediately. He believes this alliance could unleash the biggest financial shock since World War II. Even President Donald Trump said, “Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America.” See Brown's Urgent Briefing Here.
| P.S. Politics are exerting extreme pressure on money market funds, too.
This week on Grey Swan Live! with Adam O’Dell — at 2 p.m. ET, tomorrow, September 18, 2025 — we’ll be investigating the $10 trillion pile of cash sitting on the sidelines during the terrifying bull market on Wall Street.
Mr. O’Dell has been warning investors how impending changes to monetary policy are going to force savers out of cash and into the markets… or gold. More details to come. Sign up now to become a member and join us for this week's call.  If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.com.
How did we get here? Find out in these riveting reads: Demise of the Dollar, Financial Reckoning Day, and Empire of Debt — all three books are now available in their third post-pandemic editions. You might enjoy one or all three. 
(Or… simply pre-order Empire of Debt: We Came, We Saw, We Borrowed, now available at Amazon and Barnes & Noble or if you prefer one of these sites: Bookshop.org, Books-A-Million or Target.)
Please send your comments, reactions, opprobrium, vitriol and praise to: feedback@greyswanfraternity.com |
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