The Federal Reserve held its July meeting this week. Once again, it didn’t do anything. But there was certainly plenty of talk to dissect. In this episode of the Friday Gold Wrap, host Mike Maharrey does just that with some analysis of the messaging coming out of the Fed meeting, along with a look at the newly released GDP numbers and what they might be telling us.
With friends like this, who needs enemies?
Amanda Douglas, 27, stole gold and silver coins, along with other items from her friend’s home, including gold bars, 150 earrings, guns, ammunition, and a container holding a dog’s ashes. Yes. You read that correctly. Amanda stole her friend’s pet’s ashes. Nice girl.
Pop some popcorn. It’s time for some political theater. Congress is gearing up for another debt ceiling fight. In this episode of the Friday Gold Wrap podcast, host Mike Maharey gives you a preview of the next big Washington DC blockbuster production, complete with some debt ceiling history and an explanation as to why we shouldn’t need one. Maharrey also covers retail sales, inflation and the latest movement in the gold market.
Consumer price index data came in hotter than expected. Again. The producer price index data also came in well above projections. But Fed Chair Jerome Powell continues to stick to his “inflation is transitory” story. On this episode of the Friday Gold Wrap, host Mike Maharry digs into the inflation data and highlights Powell’s comments on Capitol Hill. He concludes the story is really all they’ve got.
Many variables can drive the price of gold and silver. These include Fed meetings/speeches, inflation data, jobs numbers, risk appetite, etc. Some people speculate that the price is suppressed and manipulated by the banks and Fed. While coordinated suppression is not impossible, there are other more probable explanations for gold and silver price action. This price action manifests with changes in Open Interest in futures contracts traded on the Comex.
On Wednesday night, I got to watch a bunch of guys skate around an ice rink with a silver cup hoisted over their heads. My beloved Tampa Bay Lightning won their second straight Stanley Cup championship with a 1-0 win over the Montreal Canadians.
If it seems like we just did this – well – we did.
This week, the IMF undercut the Fed’s “transitory” inflation narrative, warning about the possibility of sustained inflation in the US. But the real question remains unanswered – what will the Fed do about it? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the options on the table. None of them seem particularly good. That raises another question: how long can the politicians and central bankers keep this thing going?
Demand for silver in the production of printed and flexible electronics is expected to increase 54% over the next 10 years according to the lede story in the most recent edition of the Silver Institute’s Silver News.
Will the Federal Reserve tighten monetary policy to fight inflation? Or will it keep its loose monetary policy in place to support the fake recovery? The central bank has a profound influence on the economy, for better or for worse. But should the Federal Reserve even exist? In this episode of the Friday Gold Wrap, host Mike Maharrey argues that it shouldn’t – not if you follow the original meaning of the Constitution. He makes his case with an interesting history lesson on the creation of the First Bank of the United States.
Have you ever stopped to think about the sheer volume of Federal Reserve money creation? Comparing fiat money creation to real money creation will give you some perspective.
