The Real Inflation Picture: CPI Is Fiction
Forget the headline numbers. True cost of living is soaring:
- Food: Up 15–25% YoY in many categories
- Energy: Gasoline, natural gas, electricity posting monthly double-digit spikes
- Imports: Electronics, clothing, autos reflecting full tariff pass-through
- Shelter: Rents and home prices accelerating again
This is classic hyperinflation setup: supply destruction (tariffs, geopolitics, deglobalization) meeting unlimited fiscal/monetary demand. The Fed is trapped.
Gold & Silver: The Core Hedge
Gold: The king. Central banks buying 300+ tonnes in Q2 alone. Already cleared $3,500 and coiling for the next leg. In hyperinflation, it's not just a hedge — it's the benchmark.
Silver: The people's money with massive industrial torque. Solar, EVs, electronics, 5G — demand exploding while mine supply stagnates. Gold/silver ratio historically stretched; mean reversion targets $60+ quickly.
Platinum, Palladium & Uranium
Platinum & Palladium: The forgotten precious metals with acute supply constraints. South African and Russian production issues, auto catalyst demand firm, hydrogen economy use cases. Deeply undervalued relative to gold.
Uranium: The wildcard energy metal. Nuclear renaissance is real — data centers, AI power demand, energy security, net-zero goals. Supply chronically short after a decade of underinvestment. We're pounding the table here.
Portfolio Rotation: Full Commitment
We've been building metals exposure all year, but the speed of inflation deterioration this summer demands escalation. We are now allocating our largest overweight ever to this basket.
This means trimming other exposures (even AI leaders get lighter sizing temporarily) to fund the move. When fiat confidence cracks, nothing else matters. This isn't speculation. It's survival positioning.