Silver has dipped below $20 an ounce for the first time in two years. But given silver’s fundamentals, the current economic dynamics, and the trajectory of the Fed, silver appears very oversold.
For the next week, you can take advantage of the lowest silver spot price in years, and we’ll even sweeten the deal with free silver with qualifying orders.
There are three good reasons you should take advantage of silver on sale.
American consumers added to their record levels of debt in May as they continue to struggle to make ends meet in this inflationary environment.
Americans increased their debt load by $22.35 billion in May, according to the latest data from the Federal Reserve. That represents a 5.9% annual increase.
The mainstream seems to have conceded that the economy is heading toward a recession. But most people aren’t too worried. They seem to think the downturn will turn out short and shallow. In his podcast, Peter explains why the recession will more likely be long and deep. Since people don’t understand the nature of the boom, they can’t understand the nature of the bust.
The Federal Reserve is putting on quite the tough guy act. Everybody is convinced the central bank is going to keep up the inflation fight even if the economy gets shaky. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed’s hawkish messaging and wonders out loud if the central bankers are writing checks they can’t cash.
After the June FOMC meeting and the Fed’s 75- basis point interest rate hike, I argued that the central bank is totally winging it. Reading between the lines in the minutes from that June meeting seems to bear this out. The Fed appears to be in reaction mode. The question becomes what will it react to next? How long will the hawks keep flying as the economy tanks?
China appears to be chipping away at dollar dominance.
While there is no indication that the dollar is in imminent danger of toppling from its perch as the global reserve currency, more central banks are warming up to the yuan.
Federal Reserve Chairman Jerome Powell continues to insist that the economy is strong enough to withstand tighter monetary policy to fight inflation. But the economy seems to be saying otherwise. So, how will this play out? In this week’s Friday Gold Wrap podcast, host Mike Maharrey gazes into his crystal ball and speculates about what might happen over the next several months. He also tells the tale of two central bankers and discusses the current gold market.
According to the seasonally adjusted data, M2 increased by $23B in May. Except for the contraction last month (the first contraction in 12 years), it was the smallest monthly increase in M2 since the start of COVID.
Well-known investment advisor Rick Rule said the Fed will chicken out on its inflation fight.
Rule runs Rule Investment Media and formerly served as the president and CEO of Sprott US Holdings Inc. In a recent interview, Rule said that the Fed could get inflation under control with significantly tighter monetary policy for a sustained period of time. But he said he doesn’t think the central bank has the wherewithal to follow through when the economy starts to crash.
Ronald Reagan once said the most terrifying nine words in the English language are, “I’m from the government and I’m here to help.”
One of the biggest problems with government help is that it always comes at a cost. And the burden of that cost almost always falls on the very people that big government claims to help – the poor and middle class.
