| Ripple Effect — March 16, 2026
Gold has had a quiet few weeks amid heightened geopolitical tensions. The metal is still digesting its massive rally over the past few years.
Gold has plenty of reasons to continue trending higher over time. 38, 943, 287, 782, 477 of them to be exact. It’s painful to do, but if you watch the US total debt at https://www.usdebtclock.org/, the debt is racking up so quickly it’s hard to keep pace with the exact amount.
Here’s the impact on the gold price. While the U.S. has the world’s largest gold holdings, that pile of gold stands at just 3% of government debt today:  As a percentage of government debt, gold reserves stand at a scant 3%. (Source: Azuria Capital) That only includes “official” debt. Off-book debt, like, say, funding a bombing “excursion” for several weeks in Iran, doesn’t get added to the pile until we know exactly how much it’s going to cost.
With the U.S. debt-to-GDP ratio now over 120%, gold prices will continue to rise to reflect the pace at which the Treasury and Federal Reserve have “print” dollars out of thin air to pay for debt at a blistering pace.
The trend to pay for political promises with debt is not going away any time soon. Gold is currently such a small percentage of government debt, it’s still early times to gain exposure. Our research has shown that gold's price could easily track into five figures.
~ Addison P.S. Last week, I attended The Gathering, a group of investors in an international real estate project led by Grey Swan friend and associate Ronan McMahon and his team at Real Estate Trend Alert.
Panama, somehow, has never made it on my travel itinary. We’ve spent a lot of time in Nicaragua and Mexico. Have done business in Colombia, Brazil and Argentina. But despite ogling Panama’s tax haven status... we had never been.
The Gathering attracts active investors in all the international deals Real Estate Trend Alert (RETA) has on offer. There are enough that they publish a Top Ten Deals memorandum every year. We got to mingle with attendees and collect their life stories. Everyone has their own life story and path that lead them into this group. They come from all over the map themselves, including a select group of Grey Swan Investment Fraternity members.  Ronan McMahon kicks off The Gathering to a crowd of active buyers of Real Estate Trend Alert (RETA) below market deals. (Source: Noah Dutheman) A video and stories from the Isthmus are on the way. It’s with our video team now, and will be up on the site soon.
That also means, we have another Grey Swan Live! two-fer for you. On Thursday, March 19, 2026 @ 2pm EST Shad Marquitz will be joining us for a look at the oil market, natural resources and rare earth demand in the wake of the Iran boming campaign and disruption.
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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