Jerome Powell went on 60 Minutes last week and said there was “no limit” to what the Fed could do to support the economy. Of course, that’s not really true. All the central bank can really do is print more dollars. And the economy isn’t just about dollars. It’s about stuff. In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks about the real problem facing the economy – Powell’s “cure.” He also puts silver in the spotlight.
Silver has finally joined gold at the party.
In the last week, the price of the white metal has moved up from $15.51 to $17.35. (as I type this on Tuesday morning May 19) That’s an 11.9% increase.
With the jump in the price of silver, the silver-gold ratio has dropped from over 113-1 earlier this month to 101-1 today.
Federal Reserve Chairman Jerome Powell dumped cold water on the notion that we’re going to have a quick recovery during a speech this week and begged Congress for more fiscal stimulus. As Friday Gold Wrap host Mike Maharrey put it, Powell and the federal government are the arsonists trying to fight the fire they started. In this episode, Mike talks about Powell’s speech and points out just how clueless he really is. He also covers some of the week’s economic news and its impact on the gold market.
Silver hasn’t been this cheap compared to gold in 5,000 years of human history. What is the silver-gold ratio telling us? Is silver about to shine?
People keep talking about the “new normal” we’ll all have to adjust to as we recover from the coronavirus pandemic. So, what does that mean for the economy? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks ahead at the new normal, the prospects of an economic recovery and speculates that we might have already caught a glimpse of the future last year. He also covers the gold market and looks at some of the economic data this week.
Global silver demand nudged higher in 2019 thanks to a 12% increase in investment demand as retail and institutional investors focused their attention on the long-term investment appeal of the white metal according to a report highlighted in the latest edition of the Silver Institute’s Silver News.
We have financial records dating back some 5,000 years and in all that time, silver has never been this cheap compared to gold.
Kanesh was an important trading hub in the Assyrian empire. The city was located in the middle of what is now Turkey, at the midpoint of the route between the Mediterranean and the Black Sea.
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.
It was another crazy week on Wall Street with a lot more economic doom and gloom, punctuated by a complete meltdown of the oil futures market. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about some of the highlights – or lowlights – but he also injects a little optimism into the conversation and offers some constructive advice.
Gold sold off overnight and stock futures soared after President Trump offered some guidelines to “reopen America.” There was also news of a promising COVID-19 treatment. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey throws a bucket of cold water on all of the optimism. He explains why the economy won’t likely just roar back to life even with an end to the economic lockdown.
