☕ DrinkCoffeeAndProfit
Smart money moves before breakfast
Inspiration Quote for the Day
“Put all your eggs in one basket and watch that basket.”
— Mark Twain
The Morning Ritual
Everything You Own Is Denominated in One Currency. Central Banks Have Been Diversifying for 21 Months.
I did something dull on Sunday. Yellow legal pad, kitchen table, and I wrote down everything I own. The house. Checking. Savings. Two CDs, one of which matured in June and I had forgotten. The pension. The Social Security check that starts in four years. Nine lines total.
Then I looked at the nine lines. Every single one is priced in dollars. Not one person has ever called that concentration. Meanwhile the most patient money on earth just finished its twenty-first consecutive month of doing the opposite.
· · · Partner Message · · ·

Twenty years ago, I saw something forming in the global monetary system that most of my colleagues dismissed or ignored.

It was important enough that I repositioned my entire professional focus around it.

That decision looked eccentric at the time.

It doesn’t anymore.

A career spanning thirty years in institutional finance teaches you that the people who sound most certain are usually the ones who understand the least.

But there’s a difference between certainty and conviction earned over two decades of being right about a single thesis while most of the financial world looked the other way.

See what twenty years of tracking this has revealed — and why the window is open right now.

What’s happening right now is not a new crisis.

It’s the moment I’ve been tracking since I made that decision twenty years ago — finally arriving at the phase I always believed it would reach.

The early phase is where the gap between those who understood early and those who are just now feeling it is widest — and most consequential.

Before consensus forms. Before the window closes. Before the question of what to do answers itself.

I believe that gap is still open.

I don’t know for how much longer. These phases don’t announce when they’re ending.

Act on what twenty years of conviction has been pointing toward — before the window closes.

Best,

Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio

P.S. Twenty years ago I bet my career on what I was seeing. That bet is paying off right now — and the window it created won’t stay open forever.

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In One Sip
► Gold touched `$4,509` on Thursday and gave part of it back by Friday. Still up about `8%` on the month. That is the first real breather since its best month of the year.
► China’s central bank added gold for the `21st` straight month. Longer than the Fed has held rates still.
► This is not a dollar collapse story. The broad index measuring the dollar against other currencies is down about `0.45%` all year. Basically flat.
► Stocks set a record close of `7,798.99` Thursday. The VIX sits at `14.63`, calmest reading of the year. Same month, July retail sales fell `0.58%` and payrolls lost `23,000` jobs.
► Mark Wednesday. At 2:00 PM Eastern the Fed publishes minutes from a meeting that split `9` to `3`. Three officials argued for a higher rate, not a lower one. Going in, the boards put September near `65%` hold and `35%` raise. Nobody knows. That is the point of this edition.
Why It Matters for Your Money
Do the legal pad yourself. House. Checking. Savings. Any CD. The pension. The Social Security check. The money market fund inside your retirement account. Now write the currency beside each line. You will write the same word every time.
That is not a mistake and I am not scolding you. It is the default for every American household. But imagine nine positions and every one the same stock. Somebody would have sat you down years ago.
Here is why nobody mentions it. Dollars are the ruler you measure everything else with. Your house is worth dollars. Your gains are counted in dollars. When the ruler moves, the ruler cannot show you. The risk is invisible by design, not because anybody hid it.
The Wealth Angle
I think the price is the least interesting part. The buyer is the story. Central banks are the dullest money in the world. They do not chase and they do not panic. They add on a schedule.
Twenty-one straight months is not a trade. That is a policy. And they did it while the dollar held its ground against other currencies. So it is not a bet against the dollar versus the euro. It is a step out of somebody else’s promise, into something that is not a promise.
Now the part most gold writing this month will skip. Gold pays you nothing. No dividend, no coupon, no interest, ever. If you are `68` and living on what your savings throw off, a pile of metal does not buy groceries. That is a real cost, not a footnote. I am not calling a top or a bottom. I am saying know your own number before somebody else picks it.
☕ Key Insight:
If you held nine positions and every one was the same stock, somebody would have called that concentration years ago. Nine lines, one currency, and nobody has ever said a word about it.
· · · Partner Message · · ·

Wall Street quietly buying these stocks before November 3?

We caught Wall Street in the act.

Take a look:

Image

Right here in June…

BlackRock made a strange move.

It put nearly $1 billion into a forgotten-about corner of the AI market.

In fact, we flagged a number of strange transactions from gigantic firms like Goldman Sachs and JPMorgan…

Into two specific stocks in this critical but rarely talked about corner of AI.

I believe these companies are loading up ahead of November 3.

And I’ll explain why in this video.
Coffee Break Move
If you are comfortable: Get the pad. Ten minutes, one line per account, currency beside each. Then ask the only question that matters. Is the number you see the number you actually chose? If you change it, remember the cost above. Anything you move into metal stops paying income that day.
If you are stretched: Do the same list and skip the metal entirely. This pays for itself without buying anything. Almost everybody who writes it out finds something. An old retirement account from two jobs back. A CD that matured and rolled into a rate near zero. A savings balance sitting where it has sat since 2019. The list finds money before it moves any.
My pad is still on the kitchen table with coffee rings on it. Nine lines, one word nine times. I have not decided what to do yet. But I would rather be the guy who wrote it down than the guy who never looked.

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