The great manias can be summarized with a very simple thesis

October 8, 2025
-FXnews

I’ve been making the case for gold for a long time but I got nervous today watching CNBC and seeing Jim Cramer frothing about gold. He has long talked about holding 10% of your portfolio in gold, and that potion (based on almost any timeline) has now beaten the S&P 500.

The thesis for gold is increasingly crystalized by the simple question: What’s safer, the US dollar or gold?

Enormous deficits, political dysfunction and geopolitical antagonization make that question an easy one to answer

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