The Flying Frisby - money, markets and more
Readings of brilliant articles from the Flying Frisby. Occasional super-fascinating interviews. Market commentary, investment ideas, alternative health, some social commentary and more, all with a massive libertarian bias.
Episodes
The AI Boom, the Debt Boom and Reality
Something a little different this week. On Monday I gave a talk for UK Finance called Making Sense of It All, about the multiple contradictions at work int he economy: rising bond yields yet equity markets grinding higher, huge investment in AI despite limited profit, and the growing squeeze on the materials needed to build AI infrastructure. (Many thanks to Duncan and Rhiannon for inviting me to
Gold Isn’t an Investment. It’s Money | James Turk
It’s my pleasure to sit down with with the man who “gold pilled” me back in the day with his book, The Collapse of the Dollar. James Turk, founder of GoldMoney, has spent five decades working in banking, finance and investments, making the case that gold is not an investment or another commodity, but money in its purest form. We discuss why he believes the US can no longer repeat the Volcker rescu
Silver’s Brutal Reversal, and the Mine I’m Betting On
After an extraordinary run which started in 2022 below US$20/oz and ended in January this year at US$122, silver has been working its way downwards. We have had a correction of almost 50%. Today we’re at $58/oz having been as low as $55 in July. We are almost certainly going to go back and retest that low, I would say, and silver is very much in a downtrend. $50 has been a huge line in the sand th
Gold Will Do Things You Can't Even Imagine | Frank Giustra
Good Sunday to you,We have a fantastic interview for you today. I sit down with legendary Canadian investor Frank Giustra to discuss gold, government debt and why he believes the world is entering the most dangerous geopolitical period of our lifetime. You can either watch the video or listen as a podcast via Spotify et al.Frank made his fortune in mining and natural resources, before founding Lio
The Problem With Owning Anything
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI don’t know if it’s my own little online bubble, but every time I open my phone at the moment I am being swamped with bearishness and negativity.Never mind all the political and social stuff, it’s financial as well. The problem I have is that a lot of the bearish arguments are well reasoned.In a nutshell: too muc
You're Poorer Than They Tell You
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comGood Sunday to you,I have a lot of charts for you today, and fascinating ones too, but we begin with a little story.John James Cowperthwaite was the financial secretary who oversaw Hong Kong’s extraordinary growth in the 30 or so years after World War Two. It was one of the greatest periods of economic expansion t
Trying to make sense of everything
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comThe yields on 10-year US treasuries are rising. They’ve hit their highest level in nearly 20 years.What does that even mean? And more importantly what are the implications? A lot of people are getting their knickers in a twist.And why has gold’s promising little rally hit a wall?And what about UK gilts, they’ve ro
The 2.5% Deposit Trap
There are so many ways to bring down the cost of new build in the UK, chief among them reduced regulation, planning and taxation. So I was most disappointed, putting it mildly, to see Prime Minister Andy Burnham’s new initiative, Your First Home, which will give government-backed equity loans of 20% to first time buyers, who will now be able to buy new build property with just a 2.5% deposit. Init
They’re Coming for Your Money. Don’t Let Them Take It.
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comGood morning to you and a big welcome to the many new subscribers, both paid and unpaid, who have joined the Flying Frisby this week.We are now the Number One riser in Finance and Number Two in the UK, so we must be doing something right.If you have not yet received your Britain On Sale report, you can access it h
Odyssey, Bitcoin & the Three-Pinter
Good Sunday to you,I finally went to see Odyssey last night. I’d been intending not to, after everything I’d read on X, but my daughter persuaded me, and I actually quite enjoyed it.Maybe not an A+ movie, but a pleasant enough way to spend a few hours. I didn’t feel violated by all the casting, in the way that purists were, although Helen should have been stunningly beautiful, which she wasn’t. To
How to Play the Next Bitcoin Cycle
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comBitcoin is both volatile and cyclical. You get periods of extraordinary gains. But then you get periods of extraordinary losses. But …If you can buy during low points in the cycle, that volatility can work in your favour. And the house view is that we are within a month or two of the low point right here and now.
When Time Stops
One of the best things you can do with your time is hire a boat that you can sleep on and float up a river for a few days.Time stops.Absorb the weather, whatever form it takes, but sunny is best. Breathe in the air. Sleep as the boat gently bobs up and down. Contemplate. Talk. Play games. Eat. Swim.Peace descends and nothing much matters any more.I’ve done this several times on the Thames and, ha
The Three Financial Storms on the Horizon
Yes, physical gold is a safe haven, but gold also attracts a lot of speculative capital, particularly the paper markets. Gold futures are among the most traded futures in the world, and there is nothing physical about them. So when there is a panic, gold tends to sell off along with everything else as liquidity dries up and everyone rushes to cash.The US dollar is actually the safe haven, except t
The Commodity Supercycle Has Begun
Today’s post is short and simple.Investing is often best done that way.The short of it is this: a new commodities supercycle has begun. It’s going to last several years. You want to be long natural resources and natural resource companies.The declining purchasing power of national currencies muddies the waters, but I should say that the eventual price of commodities, metals, grains, meats, fossil
Alasdair Macleod: Only A Gold Standard Can Stop The Currency Collapse
Good Sunday to you,This week I’m talking to the goldbugs’ goldbug, Alasdair Macleod.I’m more of a continued decline, muddle through guy, but Alasdair, as you shall see, is very much in the outright collapse camp and he sees that outright collapse coming soon, as you shall hear - within the next 18 months!Alasdair has spent decades studying financial markets, monetary history and the role of gold,
Copper Is Telling Us Something
I have been banging the drum for copper for some time, but it is becoming increasingly difficult to ignore. Gold has the glamour, but many, including veteran investor Rick Rule, now see the greater opportunity in copper. In summer 2024, I highlighted three copper companies Amerigo Resources (ARG.TO) at around C$1.75 and Arizona Sonoran Copper (ASCU.TO) at C$1.36 and QCCU (QCCU.V) at 12c . Amerigo
What Actual Gold and Silver Investors Are ACTUALLY doing
Good Sunday to you,I am being impersonated again, so if you receive messages from someone that looks like it could be me, it isn’t. Please block and report. (Also feel free to message me so I can report them too.) Many thanks …We have another Money, Markets and More for you today with Joshua Saul, founder and CEO of The Pure Gold Company, who tells us what gold and silver investors are actually do
Former Rothschild Banker Exposes China’s Obsession with Gold
Apologies for the double email this Sunday, but we have another Money Markets and More, in which I sit down with precious metals analyst and forecaster Ross Norman to discuss the precious, China and why he believes the forces driving the precious metals bull market are structural.You can either watch the video above, or listen via Apple Podcasts, Spotify et al.Ross has spent decades analysing the
Is the Uffington White Horse Actually a Horse? And What Is It Doing There?
Last week I walked some of Britain’s oldest path, the Ridgeway, which runs across south central England. It’s literally a ridge, and would once have been a vitally important path when the valleys on either side might have been impenetrable marsh or forest.I walked 56 miles in 4 days, starting in Avebury and ending in Goring.Lots of amazing views of Britain’s brown and pleasant land. Red kites galo
Toby Baxendale: Red Tape Nation
Good Sunday to you, In the last of this series of interviews recorded at ARC, I sit down with retired (for now) businessman Toby Baxendale to discuss British industry, regulation, sound. money and why he believes Britain is making it increasingly difficult for entrepreneurs to succeed.Toby built a successful business in the meat and fish industries, employing hundreds of people before selling the
Steve Baker: Politics in a Nutshell - Tax, Borrow, Debase the Currency
Your mid-week commentary will be later than usual this week. I have something quite special planned. In the meantime, here is another episode of Money Markets and More. Today, I sit down with former Conservative minister Steve Baker to discuss sound money, inflation, taxation, gold and why he believes Britain’s monetary system is fundamentally broken.You can either watch the video above or listen
Does Britain Need A Financial Crisis To Change Course?
Good Sunday to you,Today I talk to Toby Young, now Lord Young, journalist, author, and founder of the Free Speech Union discuss Britain: how it works, its economic outlook, inflation, the expanding state, free speech and whether the UK is heading towards a financial crisis.As a member of the House of Lords, Toby offers a unique perspective on the direction Britain is taking politically and economi
Is Britain Following the Venezuelan Playbook?
In this latest Money Markets and More, I sit down with Francis Foster, co-host of Triggernometry and author of Uneducated: My Life as a Teacher and Why You Should Never Become One, to discuss Venezuela, socialism, inflation, the pound, and why he believes Britain is heading towards a financial crisis.You can also listen to this interview as a podcast in the normal way.Before becoming a comedian a
Metals Exploration: Is It Time to Sell?
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comSorry for the delay with this week’s piece, I have been travelling.But our Summer of Gold continues today with what is, for me and many readers, our biggest position: Metals Exploration (MTL.L). It has also been one of our biggest winners.However, this year the shares have gone nowhere. Today they trade in the 13-
Liv Boeree: Humanity's Big Bet
In this next episode of Money, Markets and More, I sit down with Liv Boeree to discuss AI, risk, poker, game theory, incentives, state power and better decision-making. I thought this was a terrific interview and I hope you enjoy it.You can either watch the video above, or listen to the interview as a podcast in the normal way.Liv argues that, while AI could bring huge breakthroughs in health, dru
Luke Gromen: Why Gold Is About to Matter More Than Ever
The inaugural CPAC UK runs from July 16-18 in London. Speakers include the former PM, Nigel Farage, Jacob Rees Mogg and Yours Truly . No Count Binface as far as I’m aware. Flying Frisby readers can get 25% off with this link.A few weeks ago Josh from the Pure Gold Company asked if I'd be interested in recording some long-form interviews. It sounded like a good idea, so at ARC a fortnight ago we sa
The Sweetness of Doing Nothing
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comThe S&P 500 is close to all-time highs, but it’s looking wobbly. After magnificent runs, gold and silver are both washed out and trending lower.Bitcoin is all but dead and buried. Rates are rising the world over so you can forget about government bonds - that particular bull market is over. Oil and gas have turned
Brutal Summer Ahead for Gold Stocks?
I was on a panel with veteran geologist Brent Cook earlier in the week and something he said rather struck me.“It’s shaping up to be a brutal summer for mining companies.”Brent CookLooking at the chart below, it’s hard to disagree.The Gold Miners Bullish Percent Index has fallen to zero.Not 5 or 10, but zero. That’s lower in the in the crash of 2008 and during the Covid panic. It has only ever re
Why Hasn't the Pound Crashed?
Imagine you are in the circus, watching a tightrope walker who’s been on the sauce.He sways, the crowd gasps, he sways again, more gasps, and yet somehow he doesn’t fall. This goes on and on and eventually you get bored watching. That, it seems to me, is Britain.Public debt is now knocking on £3 trillion. (Remember you could have spent a million pounds every day since Jesus was born and still not
Lifetime Membership Is Ending
Hello,A quick note about The Flying Frisby.For several years I’ve offered a Lifetime Membership. The idea was simple: make a one-off payment and never have to think about subscription renewals again.A surprising number of readers have taken me up on it.However, I’ve decided to withdraw that offer permanently at the end of June.The timetable is as follows:• Lifetime Membership remains available at
A Brutal Friday
Let’s start with a quick market update after Friday’s brutal actionThe last few days have not been pleasant for owners of gold, silver, miners or indeed bitcoin. Friday saw on 8% fall in silver. How January’s euphoria has reversed. That’s silver for you. My ongoing thesis that gold, silver et al go nowhere for a year remains in place. The structural backdrop for gold’s bull market also remains: gr
Wise Up: Why I’m Still Buying Bitcoin
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI was going to write about money transfer company Wise (WISE.L/WSE.US) this week.The company recently listed on the Nasdaq, demoting its London listing to secondary, and the prospects looked rosy. UK-listed companies trade at lower valuations because they are listed in the UK. America not only has greater depths
How AI Became My Production Company
Following on from last week’s piece about the extent to which I use AI, I’ve had a surprising number of messages asking which AI I actually use and what for.I should immediately stress that I am not some sort of AI guru. I know people use Claude to write code, automate businesses and build entire internal operating systems. That is beyond me. I can’t code. I’m a one-man band, who occasionally hire
How To Invest In Namibia
Following my recent pieces on Namibia, several readers got in touch asking pretty much the same question: Fine. But how do you actually invest there?Frontier markets are notoriously difficult to access. Interesting companies are privately owned, illiquid, unlisted or buried on obscure exchanges your broker has never heard of, or they carry their own small company risk that does not reflect the bro
I've Outsourced My Judgement to AI. So Has Everyone Else.
My youngest daughter, who is supremely intelligent, refuses to use AI. She doesn’t want it plagiarising her, she says, and she doesn’t want her mind to get lazy. She’s currently taking her finals at Cambridge, where, she tells me, almost everybody is using it for everything. But she won’t. And good for her.Another friend won’t touch it either, because she is so fiercely protective of her privacy a
Copper: The Metal AI Actually Runs On
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comThere’s a lot more to AI than software. AI requires electricity, transformers, substations, cooling systems, data centres and more. That all means copper. Lots and lots of copper.Right on cue, the copper price hit fresh highs last week at $6.68/lb, before pulling back. So today I am going to take a long overdue lo
Namibia: Africa’s Empty Frontier
Namibia sits on the south-west coast of Africa. Below Angola, above South Africa, with Botswana to the east.Portuguese explorers first reached the coast here in the 1480s. No natural harbour, brutal surf, cold Atlantic fog, the Namib Desert running straight into the sea, little access to fresh water. They planted crosses to mark their claims, turned around and went home again, never to return.Toda
Gold and Humanity
As I’m sure you know, it is all but impossible to destroy gold. Yes, yes, nuclear explosions, blah blah, mercury, aqua regia, but to all intents and purposes gold is permanent. It’s been here since before the earth itself, and it’ll be about long after it’s gone, shining away.That also means that all the gold that has ever been mined still exists. Some of it has been lost, of course, but it’s stil
Gold Waits While Britain Cracks
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comIt is always nice to be a national of a country that is leading the pack. It makes one proud to be a world leader.When it comes to cracking sovereign debt markets, however, you do not want to be leading the pack.But that is where we are in the UK.Even Mohamed El-Erian is tweeting about it.Yields on 30-year gilts,
The Problem with Mining Bull Markets
Something of a thought experiment today, motivated by the fact that I don’t want to go through another bear market in mining. I’m done with them. The false dawns, the endless grinding declines, the frustration.You might remember me saying, mid bear market a few years ago, “One more bull market and I’m done.”So the question I’m asking today is, “when can we expect this bull market to end?” It might
Constable Country, the Cracks Beneath and Opportunity
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comThis weekend, on the advice of ChatGPT, I visited Constable country. That is Essex, the villages of Dedham and East Bergholt, by the River Stour, which John Constable so famously painted.Having just spent a fortnight in Namibia, I’ve become attuned to stunning landscapes. Even so, I was blown away by the beauty of
What I’m Doing With My Money Right Now (Mostly Nothing)
Happy St George’s Day to you.My apologies for the late arrival of this week’s missive but I found myself without electricity this morning due to, and I quote, “a fault with the electricity”Never mind. Here we are.Everything seems so headline driven and yet contradictory at the moment. With every change in circumstance, especially at the Strait of Hormuz, a different narrative seems to emerge only
Namibia and the Resource Curse
Good Sunday to youI’m still finding my feet having just got back from Namibia. I’ve got a full country report coming, as well as a portfolio piece. But I’ve been thinking further about the country’s potential since Wednesday’s note.Namibia has almost everything. Resources. Location. Roads. A small population. On paper, it should work.And yet.Driving through Windhoek, the capital, my guide pointed
Namibia: Everything on a Plate
I’m travelling, so this week’s note will be brief.What a country Namibia is. I don’t think I’ve ever been anywhere with so much potential.But also what a mess. Official unemployment is 37%. Real unemployment is likely over 50%. Can you imagine?Per capita GDP is about $4,200. That puts it at 119th the global rankings.The countries that top the list include the likes of Luxembourg, Switzerland, Sing
When Other Money Fails
Good Sunday to you,It seems Iran is planning to turn the Strait of Hormuz into the marine equivalent a toll road, or so at least the Financial Times among others is reporting. Ships wishing to pass through the strait must pay a fee of $1 per barrel of oil.Here’s the clincher: the fee must be paid in bitcoin.Why bitcoin? It’s the best money for the job.As it is “permissionless”, no government can o
The Secret History of Gold Comes to America
Good Sunday to you, And Happy Easter.Today’s missive comes to you from Namibia, where I am giving a talk on gold at the Cirrus Investor Conference next week. I’m right out in the Styx at the minute and internet is patchy so I’m keeping this brief. Here’s the view from my window, if you don’t believe me.Coming to AmericaMeanwhile, just as I was setting off, the US copies of the Secret History of Go
Gold’s “Worst Month Ever” Is a Buying Opportunity
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comYou’ve probably heard: gold has just had the worst month in its history.Given that gold is older than the earth itself, that’s quite a long history. What headline writers actually mean, even if they don’t know it, is that: in US dollar terms, gold just had its worst month since 1971, at a stretch 1789.But the US d
Oil Broke the System
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comNever mind the dodgy mortgages, oil spiking to $150/barrel in July, 2008, just before the panic set in, was as big a cause of the Global Financial Crisis.The price rise was like a sudden, unexpected liquidity drain on the economy. The US economy is built on oil. Costs suddenly rose across every supply chain. Disp
Has Gold Already Peaked?
Bull markets don’t last forever. When you’re in the throes of one, it can feel like they do. But they don’t, and at a certain point you have to sell.Gold bull markets can feel even more eternal. Not just because the metal itself is eternal, but because the story comes along that we are going back to a gold standard, or that the Great Purge, which many economists of the Austrian school say is inevi
War, Oil and the Cost of Stupidity
Good Sunday to you,You’ve no doubt seen the videos of Iran’s largest oil facilities burning.How much destruction does war cause? To the environment, to wealth, to people’s lives. And governments lecture us about the environment.15% of China’s oil comes from Iran. Not any more. I bet they’re delighted.No surprise, oil futures have spiked again. WTIC has gone to $94 in weekend markets, Brent to $97.
Markets in a Time of War
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comWar creates uncertainty. Lots of it. And how we all hate uncertainty. Markets don’t like it either.What’s going to happen? How long does it go on for? Where do things go from here?Iran will be an in-and-out job like Maduro. Actually the regime is more entrenched than that. It’s only going to last four weeks. Ameri
Shock and Awe - and Then What?
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comYesterday, the US and Israel launched a joint attack on Iran, targeting key military and other strategic facilities. The Ayatollah Khamenei - supreme leader of Iran for 36 years - has already been confirmed dead, killed in the strikes along with several other senior officials. In retaliation, Iran has struck US mi
The Canterbury Tales and the AI Panic
Good Sunday to you,Geoffrey Chaucer wrote The Canterbury Tales in around 1400, and it is considered one of the first great works of English literature.Try reading it today and you might question the “English” part. Here’re the opening lines:Whan that Aprille with his shoures soote,The droghte of March hath perced to the roote,It does not get much easier.Canterbury Tales is the story of group of p
Powering the Machine
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI’m watching amazing video after amazing video made by AI. They’re almost as gripping as the Lowe-Farage blood feud.Hollywood is being “dis-intermediated”, to use the tech lingo. Just as television went from scheduled to on demand, now the content itself is moving that way. Want a different ending to Game of Thron
The AI Shock Is Coming. So Is the Printing.
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comGood Sunday to you,In case you missed them, I put out two articles this week. Here they are.By now I am sure you will have stumbled across Matt Shumer’s essay Something Big Is Happening, which has gone bananas viral. Eighty-one million views on X alone. That’s even more than We’re All Far Right Now.Shumer describe
Bitcoin in a Bear Market: What's Really Going On?
An extra piece for you this week. I had planned to follow up on Dr John’s timely piece on oil and gas today, but it will have to wait.We need to talk about bitcoin.Since peaking at $126,000 in early October, the bitcoin price has been in freefall, and the declines have accelerated this year. Earlier in the week, it touched $60,000 - declines of over 50% from peak to trough. Today it sits at $67,00
Take It With a Pinch of Salt
I can’t tell you how many messages I am getting from people about silver.Have I seen this video, read this article, looked at this data, listened to this podcast. JP Morgan is about to go bust, the paper markets are overwhelmed, the price is manipulated, China is setting the real price, this is a reset. And so on.The problem with speculative manias, especially when silver is involved, is that enor
A Bull Market Flush – and a Management Red Flag
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comPhew. I need to write about something else apart from silver and gold. But I have to look at the price action we have seen this week, and I will say this. It was violent. Extraordinary, even. But it wasn’t necessarily bearish.Sharp sell-offs like those we saw on Friday and Monday are characteristic of bull markets
Genius or Madman?
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI am rotating some of my gold and silver profits into oil and gas, as I think energy is next. I will have more on this very soon. I promise. But we need to talk gold and silver today, plus we have an update on top pick Metals Exploration (MTL.L)I thought Monday was the top. Silver went from $100/oz to $115/oz over
$100 silver, $5,000 gold (almost). Wow.
With all sorts of rumours about physical shortages of silver, for your Sunday thought piece today, I spoke to precious metals dealer Joshua Saul to try and find out what is really happening in the metals markets.Joshua Saul has been dealing gold and silver bullion for 20 years. He’s never seen anything like what’s happening now.His key points: silver is catching up from decades of undervaluation.
Japan Wobbles
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comThis has been for ages one of those things that has been going to happen that never actually happens.But on Monday there were signs it is actually going to happen.I’m talking about some kind of financial crisis in Japan, whether in its currency, its debt markets or a bit of both. Because it’s so far away, we tend
Venezuela Just Proved Why You Need Sovereign Money
If the stories are to be believed, and the first casualty of war is truth and all that, Venezuelan President Nicolas Maduro sent some 3.6 million ounces of gold - $16 billion in today’s money - to Switzerland before 2017, when the EU brought sanctions against Venezuela.Switzerland last week froze his accounts and the accounts of some 36 others with close ties. We don’t know how much money he had i
My Terrible Predictions for 2026
It’s that time of year again.What’s going to happen? What does the future hold?We all want to know. Knowing what’s going to happen makes you feel better.NostreDominic is here to tell you.Here are 19 predictions for 20261. Gold Breaks $5,000Gold doesn’t quite have the year it had in 2025, but it has a good year nonetheless and rises above $5,000/ozOn which note: Charlie Morris’s monthly gold report
What I Want From 2026 (And Why I'm Telling You)
Happy New Year to you.This time last year I did something I’d never done before, which was to publish my New Year’s resolutions.I was nervous about doing it because, despite constantly putting stuff out on the internet, I’m actually quite private about some things, and it made me feel quite vulnerable publishing them.However, publicly stating goals pushes you to achieve them. You’re making yoursel
My Terrible Predictions, My Terrific Portfolio
Good Sunday to you, Before we begin, let me flag this week’s commentary. This a trade with a remarkably successful hit rate, a clear timescale and a relatively easy risk to manage - you know pretty quickly if it isn’t working. 8 of last year’s 9 ideas worked. By my reckoning you will find the biggest bargains of the year tomorrow, Monday December 22, and Tuesday December 23. So take a look: Right,
Taxing Ourselves Into Oblivion
I was having breakfast with my son, daughter-in-law and grand child earlier in the week. He is 25, she is 24, and baby is 5 weeks old.They’re both pretty successful in their jobs - both in sales, on commission, so very much performance-based - and they both work very hard. They are ambitious. They want a big house with a big family, and plenty of money to live off. Pretty normal ambitions, really,
3 Ways to Profit from the Boom in Illegal Immigration
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comBefore we come to the main thrust of today’s piece, there is something I need to flag. We are just coming into North American tax loss selling season, and a number of you have asked if I will be putting together a portfolio of tax loss trades this year.The answer is, “maybe”.I’m not sure how well it will work this
Sell the Cutlery: Why This Silver Bull Market Won't Last Forever
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI found myself at a very VIP event last night at the home of a well-known politician. There was a heck of lot of money, age and experience in the room. I felt like I’d gone back in time to the City of the 1980s.I got talking to an old boy who, it turned out, had made his money in mining. He had worked at one point
When Your Gold Heist Becomes Someone Else's Gold Heist
Good Sunday to you,A bit of admin before we come to today’s thought piece.First, in case you missed it, here is this week’s commentary, mostly ranting about the budget, the UK’s inept leadership and what actions you, as an investor, should take:And this week I also appeared on comedian Geoff Norcott’s podcast, What Most People Think. Here are the links to the show on Apple and Spotify, if of inter
Further Steps on the Road to Serfdom
There will be no growth in the UK.Chancellor Reeves’ budget was designed to placate left-wing back benchers, who want greater spending, and the bond markets. In that, it has succeeded. For now.The ever-shrinking part of the country that actually builds wealth (and remember there are only 3 ways to build real wealth: you grow stuff, you mine stuff or you make stuff. Everything else is just pushing
The 10 Largest Slaving Civilisations in History
The Romans enslaved 160 million people. The Mughals 112 million. The Mali Empire 57 million. Your Sunday deep dive into the data they don’t teach in schools.We have crunched the numbers across 5,000 years of human civilisation, and ranked the results. What we found will surprise you - and might just change how you think about the past.Substack subscribers see this first, before it goes to X, Faceb
Why I'm Feeling Bearish (And What I'm Doing About It)
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI don’t mean to get all bearish on you.Bearish copy - it’s all going down, it’s going to crash - gets more eyeballs than “everything’s fine”. Bearish commentators usually have bigger followings. Bad news sells.But bears are usually wrong. They’ve predicted 13 of the last two corrections.The fact is, as human being
You can't tax robots
Good Sunday to you,As your thought piece this week, we have my interview with Kitco News, talking gold, tax, deficits and more with Jeremy Szafron. I’ve ripped the audio so that those who listen to the podcast can hear it as well.These signed copies of Secret History of Gold have proved quite popular, so I have ordered another box. (They make good Christmas presents). If you would like one, please
Bitcoin's Correction: Time to Panic or Time to HODL?
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI’ve been writing so much about gold and silver lately, I need to cover something else.But my quick take: as seemed likely, gold and silver have gone into one of their corrective phases. This is likely to last several months, in the humble opinion of this writer. There’ll be false dawns, which catch everyone out,
Fifty tourists, one phone box and what Britain keeps throwing away
Good Sunday to you,I am headed to Birmingham and Huddersfield week after next. If you are in either neck of the woods, come and see the show.Don’t it always seem to go That you don’t know what you’ve got ‘til it’s goneJoni MitchellBack in the 1980s I remember the newly privatised British Telecom, in its wisdom, decided to get rid of Britain’s red telephone boxes and replace them with things made
How Do We Know When It's The Top?
You probably saw my post from ten days ago in which I argued that the vast numbers of people queuing up outside bullion stores in Singapore and Sydney to buy gold and silver were not a good sign.As it turns out, they were not. Gold and silver have put in a top - an interim, mid-cycle top, in my view, not the top - and we can now expect many months of sideways, shake-out, frustrating consolidatio
Six Goals and Nine Dreams
Good Sunday to you,Before we go to today’s piece, let me flag this week’s commentary - on the action in the gold and silver markets, in case you missed it. A blip or the start of something more significant?So to the osteopath who isn’t an osteopathI first met Michelle Davies at a James Delingpole event. She was buying one of my books and wanted to pay in bitcoin, which got her an immediate gold st
The Correction Has Arrived
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comWe worried it would come, and now it has.The dreaded correction.Silver and gold have been clobbered, hit for something like 6 and 9% from their highs at one point. The miners have been hit for more. GDX is down 15% from its Friday highs.This is quite the slap down, the biggest I can remember for years.What can I s
How much gold does China really have in 2025?
Two items on the agenda today.First, my interview with Konstantin Kisin and Francis Foster for Triggernometry has been released. Here it is on YouTube, Spotify and Apple PodcastsSecond, using a different methodology to that which I used in Secret History of Gold (have you read it yet?), I am going to estimate China’s gold reserves.I was planning to take a look at top silver pick, Sierra Madre Gold
Gold at $4,000, Silver at $50: The Top or Just the Beginning?
This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comThis might mark the top of the market, folks.The BBC just invited me on to talk about the gold price.Though it was the World Service, not BBC 1, so maybe this is just an interim top.Here’s the interview, in case you want to listen:Another danger sign. Jim Cramer, the world’s greatest contrarian indicator, to every
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