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Which companies test this claim?
This inflation comes from broken supply, not too much money. 8 companies, under one question: Who holds the hard assets?
This inflation is coming from broken supply, not from too much money. While it lasts, owning the broad market is not the hedge our earlier views assumed.
What would prove us wrong
Core inflation (excluding food and energy) above 3 percent for two quarters after oil falls back below $85 — that would mean the inflation has become demand-driven and the old hedge is back. Or broad-market multiples expanding while oil stays above $100 — the market disagreeing with the 1970s.
Review 2026-11-30 · check: BEA core PCE, monthly; EIA Brent · the claim's page
| Company | What it sells | Reports next |
|---|---|---|
| Coeur Mining CDE |
Coeur Mining mines silver and gold and sells the metal. | not yet announced |
| Gold Royalty GROY |
Gold Royalty holds rights to a share of gold output from mines it does not operate. | not yet announced |
| Hecla Mining HL |
Hecla Mining mines silver and gold and sells the metal. | not yet announced |
| Newmont NEM |
Newmont mines and sells gold from large operations around the world. | not yet announced |
| Royal Gold RGLD |
Royal Gold buys royalties and streams on gold, silver and copper mines, collecting a share of their output without running the mines. | not yet announced |
| SPDR Gold Shares GLD |
SPDR Gold Shares is an exchange-traded fund that holds physical gold bullion and issues shares tracking its price. | not yet announced |
| iShares Bitcoin Trust IBIT |
iShares Bitcoin Trust is an exchange-traded fund that holds bitcoin and sells shares that follow its price. | not yet announced |
| iShares Gold Trust IAU |
An exchange-traded fund that holds physical gold bullion and issues shares tracking its price, so investors can own gold without storing it. | not yet announced |
Showing 8 of 8 · No price is shown: the Index is a map of what each company sells and where it sits, not a quote board.