Money Metals' Weekly Market Wrap Podcast

Peter Krauth, author of the book The Silver Bull and publisher of Silver Stock Investor, tells us why he believes that even with the recent advance in the silver price over the last several weeks the white metal is still undervalued and much more.

Don't forget to also follow us on social media for more important precious metals updates!

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Last week, Treasury Secretary Scott Bessent announced plans to buy back long-dated Treasuries to lower yields. The markets got a different message. The Treasury move reignited the debasement trade and sent both gold and silver sharply higher.

In this episode of the Midweek Memo podcast, host Mike Maharrey explains what the Treasury Department hoped to do and the message it sent the markets instead.

Meanwhile, some people regret missing out on the last gold bull run. If you're one of them, Mike explains why it's not too late to get in on the next move...

David Morgan of The Morgan Report, tells us why he believes we're witnessing the playing out of a battle between gold & silver and the U.S. Treasury & credit markets as the safest and most trusted investment vehicle and more.  

Don't forget to also follow us on social media for more important precious metals updates!

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There is a giant debt black hole, and it is warping everything around it in the economy. 

When we mention the debt black hole, you probably think of the national debt first. It is on the verge of eclipsing $40 trillion. But consumers and corporations are also leveraged to the hilt.

In this episode of the Midweek Memo podcast, host Mike Maharrey exposes the ramifications of the debt problem by highlighting the growing risk of a private credit market meltdown and explaining how it could impact the broader financial markets and the economy. 

He al...

This week, Michael DiRienzo, President and CEO of The Silver Institute, provides an update on how things look when it comes to the industrial demand side of things for silver, and how the years-long structural supply deficit is likely going to continue to be a factor worth watching as we move forward here in the silver market.

Dollar dominance is eroding.

And recent moves by the U.S. and Japan to support the yen underscore this reality.

On this week's Midweek Memo podcast, Mike Maharrey explains the recent intervention to support the yen and why it signals the dollar ain't what it used to be. He explains the mechanics of the intervention, what it tells us about the state of the bond market, why it looks bad for the greenback, and what it could mean for gold. 

In this episode, Mike also talks about Rand Paul's field trip to Fort K...

Coming up don't miss our exclusive interview with Edward Sterck of the World Platinum Investment Council. Mike Maharrey and this week's guest dive into the Platinum Group Metals and in particular discuss why we've seen a divergence between the price of platinum and the price of palladium and what's behind that dynamic.

A Vote of No Confidence! Are the Markets Losing Faith in the Fed's Inflation Fight?

Federal Reserve Chairman Kevin Warsh and his minions are talking tough on inflation. But they haven't done anything.

At the July Fed meeting, the central bank elected to hold rates steady for the sixth time, despite price inflation remaining persistently well above the stated 2 percent target. Based on the market reaction, investors are beginning to think the Fed is surrendering to inflation and will not raise rates again. 

In this week's Midweek Memo podcast, host Mike Maharrey talks a...

In this week's interview, Frank Holmes, CEO of U.S. Global Investors, believes we're about to see some real movement in the gold market and you'll certainly want to hear which direction he believes it'll be heading next over the upcoming months.

Officially, the U.S. has far more gold than China.

But does it really?

In this week's Midweek Memo podcast, Mike Maharrey explains why there is reason to doubt this claim. In fact, we don't really know how much gold the U.S. or China holds. We have official claims, but the U.S. refuses to audit its reserves, so there could be far less than advertised. And it's evident China is accumulating gold faster than it claims.

Why this dichotomy? And what are the ramifications?

Coming up don't miss another wonderful interview with Greg Weldon of Weldon Financial. Greg weighs in on the ongoing correction and consolidation in the precious metals and shares why he thinks this may be a "back up the truck" type of opportunity for metals buyers and where he sees silver going in particular.

Don't forget to also follow us on social media for more important precious metals updates!

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Many analysts believe we are in the early stages of a secular bear market in bonds.

In this episode of the Midweek Memo podcast, host Mike Maharrey talks about the possible ramifications of this bond bear market, arguing that it could not only fundamentally alter the investment landscape, but it could also hamstring the Fed's efforts to fight price inflation. 

This scenario could cause a significant shakeup in the world economy and financial system. 

It's also extremely bullish for precious metals. 

Interview with Will  Thompson founder and portfolio manager of Massif Capital – a privately held,  value-oriented hedge fund with a focus on the energy, mining, materials and infrastructure  sectors.| Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

If you followed the headlines, you know that the June CPI report was even cooler than expected. This generated optimism that maybe, just maybe, the Fed is finally getting inflation under control. 

But there's more to the story.

In this episode of the Midweek Memo, host Mike Maharrey tells you the rest of the story, revealing that despite falling CPI, inflation is alive and well. On top of that, the good CPI news may green-light even more inflation. 

Mike also points out a very interesting trend in the gold market. Gold is up du...

This week, an exclusive interview with Ed Steer precious metals insider and publisher of Ed Steer's Gold and Silver Digest, and also a member of the board of the Gold Anti-Trust Action Committee, or GATA.

The perception is that gold has tanked through the first half of the year. 

In fact, the yellow metal isn't down nearly as much as you probably think.

The perception is that the new Federal Reserve chairman will keep monetary policy tight to fight inflation. 

In fact, the Debt Black Hole may have something else to say about that.

In this week's Midweek Memo podcast, host Mike Maharrey provides a reality check, showing that gold's correction isn't nearly as steep as you might think and throwing cold water on the notion th...

This week, we interview Ralph Benko, gold standard advocate, author of The Ten Commandments of Capitalism, co-author of The Capitalist Manifesto and the editor of the 500th Anniversary Edition of Nicolaus Copernicus' book titled On the Minting of Money.

Don't forget to also follow us on social media for more important precious metals updates!

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The political class wants you to hate gold. That's why politicians and their enablers in the mainstream media and academia constantly badmouth it. 

But have you noticed that government people actually love gold? You don't need to look any further than the recent central bank gold-buying spree to make this case. 

So, why does the political class want to have gold, but it doesn't want you to have gold?

Control. 

As host Mike Maharrey explains in this episode of the Midweek Memo podcast, you are harder to control when you have sou...

Michael Pento of Pento Portfolio Strategies and author of the book The Coming Bond Market Collapse, tells us why he believes the current market expectation of Fed rate hikes is not only wrong, but why he believes we will actually see the Fed cut rates in future months to combat a slowing economy. And Much More.

Don't forget to also follow us on social media for more important precious metals updates!

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There's a new boss over at the Federal Reserve.

Is he going to be any different than the old boss?

Midweek Memo host Mike Maharrey delved into that question this week. He notes that Warsh certainly sounds different. But he's stepping into the same situation that Jerome Powell left. Mike explains why that will likely limit Warsh's options, meaning the old new boss may end up acting just like the old boss when it's all said and done. 

Mike also highlights the ever-growing Debt Black hole by breaking down the May federal budget d...

Coming up in a moment, we will be joined by author and precious metals analyst Przemysław Radomski. Radomski says gold and silver have reacted unusually to the Iran–U.S. conflict because markets are focusing on inflation and higher interest rates, not safe-haven demand, and much more.

Don't forget to also follow us on social media for more important precious metals updates!

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We've seen wild swings in the markets based on the latest headlines. How do we cut through the noise and make good investment decisions?

In this episode of the Money Metals' Midweek Memo, host Mike Maharrey explains that you need a good recipe. 

A plan. 

A process. 

But to formulate a plan, you need good data. That's tricky when the primary source of data is the government. Mike breaks down the inflation of the pandemic era using a new AI tool to reveal just how sketchy that government data is. This und...

This week's interview is with Axel Merk, president of Merk Investments and a frequent commentator in the financial news media and here on our Money Metals podcast.

Merk offers a different take on the recent gold correction, arguing that markets are treating the Iran conflict as a temporary shock rather than a lasting structural change. 

Don't forget to also follow us on social media for more important precious metals updates!

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They say history doesn't necessarily repeat, but it often rhymes.

With that in mind, Midweek Memo host Mike Maharrey looks back at the inflationary era of the 1960s and 1970s and finds some interesting parallels to today.

Inflation didn't rise in a straight line back then. It came in three distinct waves. We've seen one wave in the currency inflationary cycle, and it appears we're setting up for a second. And there are other similarities between then and now - including the trajectory of interest rate policy and government spending. 

Mike also reveals j...

Mike Maharrey dives into a range of topics with Kai Hoffmann, CEO of Soar Financial, as they discuss what's really happening in the precious metals market given the ongoing headwinds of the Iran war and much more.

Don't forget to also follow us on social media for more important precious metals updates!

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What's wrong with this picture?

The mainstream has built a bearish narrative around the gold and silver markets. According to this storyline, the Fed will have to keep interest rates higher due to inflationary pressure introduced by the war with Iran. That's negative for gold and silver, non-yielding assets.

In this week's Midweek Memo podcast, host Mike Maharrey points out the problems with this picture painted by mainstream pundits. He reveals two dynamics they seem to be missing and explains why the future of gold and silver may not be as bearish as advertised. He...

Coming up we'll hear an interview between Chris Marcus of Arcadia Economics and Money Metals CEO Stefan Gleason. Don't miss this revealing interview as Stefan digs into some unanswered questions surrounding America's gold reserves at Fort Knox -- issues brought back into the news headlines by Donald Trump last week.

Don't forget to also follow us on social media for more important precious metals updates!

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This week, Mike lets listeners run the show!

It's an "Ask Mike Anything" episode where our intrepid host tackles questions asked by listeners. 

Here are the questions covered in this episode. 

At what point do we start trading in metals instead of paper currency? What does that timeline look like, and where are we currently on that timeline?

How will the higher price of oil impact overall consumer price inflation? Higher oil prices cause higher prices in certain goods, but will it also lessen demand and prices in other areas?

...

Find out what Michael  Oliver of Momentum Structural Analysis has to say now given the backdrop of the Iran War, which many have blamed on keeping a lid of silver here in recent months since that big run up and subsequent correction earlier this year. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

The dollar is getting smaller. 

It's not just that it's rapidly losing purchasing power. It's also losing status on the world stage. 

In this episode of the Midweek Memo podcast, host Mike Maharrey considers both aspects of the shrinking dollar and their ramifications. He breaks down the recent CPI data, noting that it tells only part of the inflation story. Mike also highlights the ongoing global de-dollarization trend through the eyes of some mainstream analysts. 

Coming up don't miss an incredibly informative interview with Rhona O'Connell, Head of Market Analysis with StoneX Financial – a global leader when it comes to financial services, commercial hedging, foreign exchange and physical commodities. Rhona has over 40 years of experience as a commodities analyst and is a recognized authority in the precious metals sector.  

Don't forget to also follow us on social media for more important precious metals updates!

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The Fed met last week and once again took no action. As usual, the headlines were generated by the things Powell & Company said and didn't say. 

In this episode of the Midweek Memo podcast, host Mike Maharrey analyzes the meeting and the messaging that came out of it. He explains why the rhetoric has very little connection to reality because everybody seems to be ignoring the proverbial elephant in the room - the Debt Black Hole. That has significant ramifications for the economy and the precious metals markets, as Mike explains.

In this episode, Mike a...

This week's Money Metals exclusive interview with Dominic Frisby, a man of many talents – a British comedian, an esteemed financial writer and commentator and author of the book The Secret History of Gold.  

Don't forget to also follow us on social media for more important precious metals updates!

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Incentives matter.

This is a fundamental economic principle that seems to be completely lost on most people.

In this special episode of the Midweek Memo podcast, host Mike Maharrey brings in Sound Money Defense League Director Jp Cortez and bullion dealer Craig Rhyne to talk about the impact of a state sales tax on gold and silver bullion recently passed by the Washington state legislature. Not content to just suck it up and watch his business get throttled by the new tax, Rhyne moved to Idaho. 

Jp describes efforts to stop the tax. H...

A wonderful interview, this time with Phillip Newman, founding partner and managing director of Metals Focus. Phillip recaps the incredible rally we saw since his last guest appearance with us late last fall which saw gold and silver skyrocket and what that and the subsequent correction that took place following has meant for the precious metals market.

Don't forget to also follow us on social media for more important precious metals updates!

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Given the surge in silver prices, you might assume that silver demand was strong last year.

It wasn't.

In fact, demand fell slightly. 

So, how in the world did silver explode to record highs?

In this episode of the Midweek Memo podcast, host Mike Maharrey digs deep into the recently released silver market data for 2025, explaining exactly what drove silver prices higher and why there is still plenty of upside remaining. 

He also shares some gold news that would have sounded ridiculous just a few years ago.

An amazing interview with Greg Weldon of Weldon Financial, a renowned commodities trader with over 40 years of experience. Greg weighs in on what it will take for gold and silver to really get moving up again, what he is looking for as a key level on silver on the upside and also shares his views on when, if ever, the stock market may roll over. 

Don't forget to also follow us on social media for more important precious metals updates!

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We don't really know what's inside the Fort Knox gold depository because the government refuses to do a comprehensive audit. But even if we take the government's claims at face value, we do know that the bulk of the U.S. gold reserves is made up of impure "non-standard" bars that don't qualify for use in international settlements. 

In this episode of the Midweek Memo, Mike Maharrey explains the Fort Knox audit problem, how all that impure gold got there, and why it matters. Along the way, he also underscores the failure of the fiat money system. 

Joe Cavatoni of the World Gold Council, is a market strategist with over 30 years of financial services experience and helps us make sense of how gold has reacted and likely will react in the face of dizzying geopolitical and war headlines that constantly change.

Don't forget to also follow us on social media for more important precious metals updates!

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The French central bank recently sold all of the gold it had stored in New York and replaced it with higher-quality bars that will remain in France. French officials say the move was to increase the quality of its reserves and was not politically motivated. 

Mike Maharrey doesn't think that's the entire story, and in this episode of the Midweek Memo, he says the quiet part out loud. This move was almost certainly motivated in part by politics. Mike explains why France (and many other countries) want to minimize their exposure to the U.S. and the p...