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POSTED ON April 30, 2021  - POSTED IN Friday Gold Wrap

There was a lot of news and economic data that came out this week. The Fed held its April meeting. President Biden unveiled yet another tax and spend plan. And the Q1 GDP numbers came out. In this episode of the Friday Gold Wrap, host Mike Maharrey gives an overview of the week’s news and draws a rather unsettling conclusion — this economy is totally jacked up.

POSTED ON April 8, 2021  - POSTED IN Key Gold Headlines

According to the mainstream narrative, the US economy is quickly recovering from the downturn caused by lockdowns in response to COVID-19. And while the downturn was sharp and painful, it really didn’t cause any long-term economic damage. Good times are ahead! After all, just look at the booming GDP numbers.

And therein lies a problem. The GDP doesn’t really give us a good picture of what’s going on in the economy. In fact, the way the number is calculated actually hides economic damage.

POSTED ON October 30, 2020  - POSTED IN Friday Gold Wrap

Gold and silver have had a tough week. So have stocks. In a lot of ways, it looked like March all over again, with worries about increasing COVID-19 cases and new lockdowns.  But then we got the Q3 GDP number and that injected a dose of optimism. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the dynamics in the markets and provides a little reality check on that big GDP number.

POSTED ON May 1, 2020  - POSTED IN Friday Gold Wrap

US stock markets just had their best month since 1987. Meanwhile, the economic data is as bad as it’s ever been. It’s almost like a tale of two cities. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into some of the data and explains why the damage to the economy caused by the coronavirus government shutdowns is deeper than a lot of people think. He also talks about silver. It’s as cheap as it’s ever been in human history.

POSTED ON January 31, 2020  - POSTED IN Friday Gold Wrap

The Federal Reserve held its first FOMC meeting of 2020. It was mostly met with yawns as the Fed held rates steady, and despite a somewhat dovish tone, indicated that it probably wouldn’t make any moves on interest rates this year. We’ve grown so used to low interest rates that it barely registers that the Fed is actually engaged in extreme monetary policy. Extreme has become the new normal. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about it. He also touches on the Q4 GDP report and some interesting gold supply and demand trends.

POSTED ON September 30, 2019  - POSTED IN Data Dependent Series

Here is a summary of some of the significant economic data/news that came out last week.

Third-quarter 2019 new orders for durable goods remain on track for a second annual decline.  August 2019 Real New Orders for Durable Goods showed a monthly gain of 0.2% [1.0% ex-Commercial Aircraft], but an annual decline of 4.9% [down by 2.1% (-2.1%) ex-Commercial Aircraft].

POSTED ON August 12, 2019  - POSTED IN Key Gold Headlines

Consumer debt is driving American economic growth.

Total outstanding consumer debt surged over $4.1 trillion in the second quarter of 2019, according to the latest data released by the Federal Reserve.

American indebtedness grew by 4.9 over the year, and the quarterly gain from Q1 to Q2 came in at $60 billion — the biggest second-quarter increase since Q2 2016.  Over the last 12 months, American consumers have piled on an additional $208 billion of debt.

POSTED ON August 2, 2019  - POSTED IN Friday Gold Wrap

The Federal Reserve came through with its first interest rate cut in more than a decade this week. But with Jerome Powell trying desperately to convince everybody that this wasn’t the beginning of a long cutting cycle, the stock markets weren’t pleased. And neither was President Trump. So, he decided to put his own fingerprint on the markets, announcing new tariffs on Chinese products. In this week’s Friday Gold Wrap podcast, host Mike Maharrey breaks it all down and explains how it impacted the gold market.

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