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POSTED ON July 29, 2022  - POSTED IN Friday Gold Wrap

This week, the Federal Reserve raised interest rates another 75 basis points despite a second straight quarter of negative GDP growth. Meanwhile, Congress is debating a big government spending bill to “reduce inflation.” In this week’s Friday Gold Wrap podcast, host Mike Maharrey tries to unspin all of the spin and government propaganda to make some sense of what’s going on.

POSTED ON July 29, 2022  - POSTED IN Exploring Finance

Another month in and the Fed is still struggling to implement Quantitative Tightening (QT). According to the plan the Fed outlined last May, the central bank should be shrinking the balance sheet by at least $47.5B a month, spread between $30B in Treasuries and $17.5B in MBS.

That’s not happening.

POSTED ON July 27, 2022  - POSTED IN Exploring Finance

Money Supply growth is falling rapidly. Two of the last three months have seen a decrease in the seasonally adjusted M2 Money Supply with the recent month dropping $17B. Given that April was the first contraction in 12 years, two of the last three months being negative is an ominous sign.

POSTED ON July 25, 2022  - POSTED IN Exploring Finance

The price analysis two months ago concluded that a neutral market had been found between $1800 and $1850 and was waiting to see a break of resistance or support. It leaned bullish with indicators showing the down move had run its course but it also highlighted the risk that a drop below $1800 and $1750 brings $1680 into play. Last month concluded that even though gold was still trapped between $1800 and $1850 it had built up solid support. Unfortunately, gold fell through the trap door at $1800 and tested $1680 last week. Has a bottom been found? Too soon to tell, but a look at the indicators could give some clues.

POSTED ON July 22, 2022  - POSTED IN Friday Gold Wrap

We’ve heard all kinds of excuses for inflation. It was COVID. It was Putin’s price hikes. It’s greedy corporations. This week, we learned it’s the millennials’ fault. As host Mike Maharrey explains in this week’s Friday Gold Wrap, all of these notions miss the mark. And they let the real culprit get off scot-free. How? They’ve redefined inflation. Words matter!

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