Central bankers and politicians think they can run the economy.
In this episode of the Friday Gold Wrap, host Mike Maharrey digs into some fundamental economic theories that explain why these central planners will always fail, no matter how noble their intentions.
Jerome Powell went to Capitol Hill this week and continued to preach patience. In other words, the Powell Pause is still firmly in play. In fact, the Fed chair confirmed that balance sheet reduction is a done deal. But why this sudden patience? In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks about it. He also covers the Q4 GDP report, reveals some more bad economic data and reviews gold’s rollercoaster February.
Investors are gobbling up American Silver Eagle coins. Sales were so brisk last week that the US Mint temporarily suspended orders when its inventory ran out.
February sales this year have already doubled 2018 levels. As of Feb. 26. the mint had sold 2,157,500 Silver Eagles this month. That compares with 942,500 coins in February 2018. This represents a whopping 118% year-on-year sales increase.
Silver often gets lost in gold’s shadow, but it’s important in its own right – both as an industrial and a monetary metal. In this episode of It’s Your Dime, Mike Maharrey talks all things silver with Silver Institute Executive Director Michael DiRienzo.
Fundamentally, gold and silver are money. But most governments treat precious metals as a commodity. They don’t accept it as payment. Worse than that, they tax it. Think about the absurdity of this policy.