A GREY SWAN PUBLICATION | Friday April 11, 2025 | Ripple Effect — April 11, 2025 Gold prices continue to rip higher, with the metal topping $3,250 in overnight trading. The metal’s takeoff is leaving other assets behind. Since 2000, it’s been the top asset class (at least pre-bitcoin, which was too difficult for everyday investors to buy in its early years anyway). Since 1998, gold’s return has even beaten Berkshire Hathaway's returns, as Warren Buffett’s increased size has made outperforming the market more challenging. Gold looks likely to continue trending higher as fiat currencies continue to spew out of the digital money-printers. And we still see tremendous upside ahead. So the real question right now is: What’s going on with silver? Geologically, there are about 15-20 ounces of silver for every ounce of gold. Yet today, the price ratio trades closer to 100, a level only seen briefly during the pandemic: This chart suggests that either gold is overpriced or silver is undervalued. We suspect the latter. Silver has more industrial use than gold. It’s a key element for technologies like solar panels and electric vehicles. And global inventories have been on the decline for years. At less than $32 per ounce today, silver could be well positioned for a catch-up rally if markets panic and central bankers unleash another wave of global liquidity. -Andrew It’s the worst-kept secret in Washington… What if a brand-new U.S. currency system — a.k.a. the “mDollar” — stands ready to impact everything from monetary policy… to interest rates… to GDP growth?  America’s been down this road before… The shift from a gold-backed to an oil-backed dollar — a transformative event in its own right — created over $52 trillion in newfound wealth. Yet, we’re predicting the “mDollar” could be bigger, and now’s the time to get positioned for a chance at profits. Click here for the urgent details >> | P.S. As always, your cheerful reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)
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.)
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