Money Metals' Weekly Market Wrap Podcast

The debasement trade continues to gain momentum with more countries and investors spurning dollars for gold.

It's a question of trust.

Do you trust dollars, or gold?

As host Mike Maharrey explains, more people are losing faith in fiat dollars, and they're turning to the yellow metal as a safe haven for their wealth. In this episode of the Midweek Memo podcast, Mike highlights two stories that broke last week, illustrating the whats and whys behind the debasement trade.

First, he covers the world's largest sovereign wealth fund announcing a reduction in Treasury holdings. He follows that up by highlighting another example of gold repatriation.

Along the way, he makes the case for a "forever" gold bull market.

This week, Brien Lundin explains why Fed rate-hike fears may be overblown. He sees debt, rising yields, and currency debasement fueling the gold and silver bull market.

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Last week, Federal Reserve Chairman Kevin Warsh talked gold and silver down during his Jackson Hole speech, playing the tough guy facing down inflation.

But as Mike Maharrey reminds listeners in this week's Midweek Memo, Warsh & Co. still hasn't done a darn thing to tackle inflation.

Why not?

Mike says the Fed is stuck on a highway with no off-ramp. It's traveling in a direction it doesn't really want to go because the debt black hole is dominating the economy.

In this episode, Mike explains the 40 trillion reasons for the lack of action by the Warsh Fed so far, the ramifications if the Fed finally bites the bullet and raises rates, and why this puts gold and silver on an uphill highway with no off-ramp.

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.

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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 up.

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.

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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 also proposes four reasons why central banks are piling up gold and replacing dollars. (These two themes overlap!)

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 Knox and why his insistence that he knows the gold is all there is ridiculous.

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 about the dichotomy between the Fed's words and its actions, explains why the markets are right to lack confidence in the Fed, and how a surrender to inflation will impact the precious metals markets.

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 during Asian trading sessions through the first half of the year, even as the yellow metal sold off during North American sessions. What is this telling us?

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 that Kevin Warsh will maintain a higher interest rate environment and slay inflation.

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.

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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 sound money. In other words, gold supports liberty. Mike explains exactly how sound money undergirds freedom and, along the way, highlights government efforts around the world to get more gold to increase their power.

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.

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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 deficit numbers.

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 underscores the fact that when we have a realistic view of the economy, all roads lead to gold and silver.

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 just how badly this price inflation is impacting the American consumer, who is broke, stressed, and buried in debt.

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 then proceeds to expose the deeper flaws with the current fiat money system.

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?

I heard an ad for a gold seller that said, "Some experts claim that gold could hit 6 thousand this year." I'm typically dubious of ads that say "some experts", rather than citing specific experts. 1 - Do you know of any reputable experts making this claim? 2 - Do you agree? 3 - Do you think the January peak is likely the highest we'll see this year? Why or why not?

As SHTF scenarios become more likely, metals will be a life-saving alternative to fiat. Dealers put a high premium on rare collectible coins, whereas I only value the metal content of coins. Will these collectibles retain extra value when Mad Max hits town?

Does AI feel like a bubble to you based on the huge valuations of these companies?

Should people consider trading the gold/silver ratio? If so, when? And if the refiners get backed up, will it be even possible?

Silver has been significantly outpacing gold. Do you see this continuing, and should we expect a rate cut with the new Fed Chair, even if inflation rises?

Texas established a precious metals depository with the ability to conduct transactions within the depository. Can you give us an update on how that's progressing and if any other states have done something similar?

What is a realistic way of making it normal to trade and pay for items in precious metals? Are there good precious metal-backed currencies that you like?

Maybe talk a little bit about the lead time between cause and effect.

Related to the old saying health is wealth, you managed to play goalie and do it well long after younger (and lesser) men have hung up their skates. How do you manage to do this? To be clear, no joking, I'd very much like to hear the answer.

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.

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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 also shares some things he saw on his recent field trip to the Money Metals facility in Idaho.

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.

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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. He and Craig explains why sales taxes on precious metals are so perverse. And Craig takes us through the agonizing decision he made to save his business.

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.

This week, Mike also covers an interesting move by the Chinese that could exacerbate shortages in the physical silver market.

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.

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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 potential ramifications for the American economy.

In this episode, he also covers last week's "blockbuster" jobs report and explains why it wasn't probably as great as the headlines indicate. (Hint - it has to do with revisions.)

Today, an interview with one of our favorite guests to talk to about silver Peter Krauth, author of the book The Silver Bull and publisher of the Silver Stock Investor. Peter shares his thoughts on how the war is going to affect the silver market and much more.

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

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Imagine your buddy makes far less money than he spends every month. He has maxed out all of his credit cards and yet keeps borrowing and spending as if he were a rich man.

Would you loan him more money?

By the way, the person in the scenario is Uncle Sam.

In this episode of the Midweek Memo, Mike Maharrey takes a deep dive into the U.S. financial situation and reveals that, despite what many people would like you to believe, everything is not fine. He highlights the extent of the debt and why it matters.

In this episode, Mike also explains just how much gold there is in the world. (It's probably not as much as you think.)

Coming up don't miss our interview with Jeff Clark – founder of TheGoldAdvisor.com newsletter and a globally recognized authority on precious metals. Jeff and Mike Maharrey try to make sense of the recent correction in the gold price and the impacts of the war.

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

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There's a case to be made against gold right now.

And that bearish narrative is driving the markets right now.

In this week's Midweek Memo podcast, Mike Maharrey makes the case against gold -- and argues that it isn't very good. He explains why the perception currently controlling the markets will eventually be overwhelmed by reality.

Chris Powell of the Gold Anti-Trust Action Committee, joins us this week and enlightens us on both why the U.S. government is involved in gold and silver market manipulation, and how they go about orchestrating their manipulative tactics.

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

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Treasuries have historically served as a safe haven in times of geopolitical uncertainty.

Not this time.

Bonds have sold off modestly since the beginning of the U.S.-Iran conflict, as evidenced by rising yields. As Mike Maharrey explains in this week's Midweek Memo podcast, it sure looks like gold is the last safe haven standing. He explains why Treasuries are struggling to catch a bid and how a long war could exacerbate the situation. He also highlights a note by UBS to make a bullish case for gold, war or no war.

This week, an exclusive interview with Brien Lundin, President and CEO of Jefferson Financial, editor of the Gold Newsletter and the man behind the renowned New Orleans Investment Conference.

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Maybe you should invest like a dead man.

Sounds crazy, right? But studies have shown accounts belonging to dead people often outperform those that are actively managed.

In this episode of the Midweek Memo podcast, host Mike Maharrey makes sense out of this phenomenon and explains why it's particularly valuable to understand during a war. He also highlights how the ongoing conflict with Iran is causing logistical disruptions to the precious metals markets, and speculates how the war could impact gold and silver prices down the road.

This week, a special interview with Mark O'Byrne the Founder of Tara Coins in Ireland. Not only is Mark the creator of the stunningly beautiful Tree of Life gold and silver coins – available at MoneyMetals.com – but he is also a bona fide Emerald Isle historian and longtime sound money proponent.

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

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The U.S. has launched a war against Iran. What does that mean for gold and silver?

Of course, war, but its very nature, is unpredictable. But we do have plenty of past wars we can look at to establish historical trends. In this episode of the Midweek Memo podcast, host Mike Maharrey does just that, looking at the trajectory of the gold price during past wars. He finds that war itself has not had the significant impact on gold prices one might expect. There are other dynamics we need to consider.

In this episode, Mike also reminds listeners why they should take precious metals investment advice from the majority of mainstream financial planners or talking heads on the major networks.

Don't miss this week's Money Metals exclusive interview, this time with Charlie Garcia of R360 and a former advisor to six U.S. Presidents. Charlie gives the backstory on the well-covered topic of Chinese export restrictions on silver, and what it's going to mean for silver prices.

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

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We all know that the sequel is rarely as good as the original. And when the original was bad...

Mike Maharrey has argued that current dynamics in the markets and the economy look a lot like they did in the years just before the 2008 financial crisis.

He's not alone.

JPMorgan CEO Jamie Dimon recently made the same argument.

In this episode of the Midweek Memo, Mike highlights the parallels between then and now in light of Dimon's analysis. He also covers the current dynamics in the platinum market.

This week, an exclusive interview with Axel Merk of Merk Investments. Axel weighs in on the recent selloff at the end of last month in gold and silver and helps us put it all into perspective.

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

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"Money is Money, and Paper is Paper. All the invention of man cannot make them otherwise."

With that line, Thomas Paine opened a devastating critique of paper money, clearly demonstrating that gold and silver are far superior.

Unfortunately, the powers that be didn't listen to Paine. And neither did the investment world, because it's managed to turn the market for gold and silver into its own paper markets.

It's not exactly the same as fiat money, but the impacts are similar. We're seeing this manifest in the silver market today.

In this episode of the Midweek Memo podcast, Mike Maharrey delves into the battle now raging between the paper silver futures market and the physical silver market and how it is driving the price. He also explains why he thinks the physical market will ultimately prevail.

In this episode, Mike also gives a quick overview of the recent CPI report and tells you why you might consider taking investment advice from a 10-year-old.

A special interview this week from our Money Metals CEO - appearing on Arcadia Economics - regarding the total pandemonium we've been seeing in the retail precious metals market over the past few months now.

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

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When should I sell my gold?

With prices hitting record highs, a lot of people are asking whether they should sell or hold. In this episode of the Midweek Memo podcast, Mike tackles this question, using the example of a luxury hotel that literally tore gold bars out of its floor to sell. He also touches on the Super Bowl, revealing just how much more valuable the silver Lombardi Trophy is this year compared to last.

This week's Money Metals exclusive interview, this time with Ted Oakley with Oxbow Advisors out of Austin, Texas. Ted shares his amazing insights as a longtime advisor for high-net-worth investors and the tricks of the trade.

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

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Big sell-offs in gold and silver are scary. They're unnerving. And they are inevitable.

In this episode of the Midweek Memo podcast, host Mike Maharrey puts the recent correction in gold and silver in perspective.

The announcement of Keven Warsh as Trump's new Federal Reserve Chairman spooked the markets because of his perceived hawkishness, and that sparked the sell-off. Mike explains why it was an overreaction, and that hawkishness probably won't matter when Fed policy meets current economic realities. He also shares some other thoughts about the sell-off, adding additional perspective for your consideration.

David Morgan: Explosive Silver Action & the Remarkable Gold:Silver Ratio | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

A lot of people are asking what is driving gold and silver higher. Is it central bank gold buying? Is it geopolitical worries? Is it just a bubble?

In this week's Midweek Memo podcast, host Mike Maharrey suggests that maybe people are asking the wrong question. Instead of asking what is driving gold and silver higher, ask, "Why?"He argues that the "whats" are the symptoms. We need to drill down to those whys - the causes. This week, Mike does just that!

He also reports on a big bank raising its gold price forecast - again.

Wonderful interview this week with Frank Holmes, CEO of U.S. Global Investors and the Executive Chairman of Hive Blockchain Technologies. Frank has some interesting things to say about a range of topics, including the extinction of our smaller coinage, future Fed rate cuts and more.

With silver pushing toward $100 and gold knocking on the door of $5,000, there is a lot of excitement in the precious metals space right now.

Sometimes, this level of excitement can lead to over-exuberance and excessive hype.

In this episode of the Midweek Memo podcast, host Mike Maharrey corrects a story relating to Chinese silver exports that he initially overstated, and sets the record straight about rumors of silver shortages at the U.S. Mint. He uses these examples to urge balance and discernment when perusing and evaluating precious metals news.

Mike warns against getting caught up in hype and hyperbole. However, he says you also need to understand the magnitude of this bull market.

Coming up don't miss an amazing interview with Michael Oliver of Momentum Structural Analysis. Michael has decades of experience in the financial industry and has been all over this silver rally since the most recent surge began back in the fall.

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

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What does the future hold?

In this week's Midweek Memo podcast, host Mike Maharrey polishes up his crystal ball and talks about what 2026 may have in store for gold and silver.

Along the way, he emphasizes the difficulty of economic and market forecasting and provides an example of why people should be cautious about making bold predictions. However, he is willing to examine some of the macroeconomic and market dynamics that appear to be in place as we enter the new year and explain how they may impact the precious metals markets.

Greg Weldon of Weldon Financial, shares his valuable insights on the recent move in silver over the last month or so that has seen the white metal bust through the key $54 level right after Thanksgiving and move all the way up to $80 today.

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

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It's déjà vu all over again.

In this episode of the Midweek Memo podcast, host Mike Maharrey explains how the setup in the financial system looks very similar to what we were seeing in 2019, prior to the pandemic. And that's not good news.

Along the way, he explains the business cycle, its causes, and where we are in the current iteration of the pattern.

This week, a replay of one of our very best interviews this year, a recent one with Jorge Jraissati, President of the Economic Inclusion Group. Jorge joined Mike Maharrey in an explosive, enlightening and somewhat troubling discussion on the subject of de-banking and much more.

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

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Silver took the gold medal in 2025, more than doubling its price.

So, what drove silver to over $80 an ounce last week? In this episode of the Midweek Memo podcast, host Mike Maharrey takes a deep dive into the dynamics of the silver market, explaining that while there are many factors at play, one fundamental reality underpins it - there isn't enough metal.

This dynamic has resulted in a significant silver squeeze, driving prices higher with significant volatility.

In this episode, Mike also offers some advice as you contemplate your New Year's resolutions.

This week, we feature a special year-end interview with Money Metals CEO Stefan Gleason -- who's joined by Jp Cortez of our sound money project. Stefan provides his observations of what's happening in the precious metals market -- globally and in the U.S.

Talk about a Christmas gift!

Gold and silver both hit new record highs Christmas week, with gold eclipsing $4,500 and silver above $70.

But are these precious metals in a bubble?

In this episode of the Midweek Memo podcast, argues that they are not. He thinks that the gold and silver markets are telling us something - that they are signaling an important monetary paradigm shift.

This week, Mike also explains why the Magi gave the gift of gold to Jesus and tells you where that gold is today and how it got there. (Yes, we know!)

Join Money Metals' Mike Maharrey and Dr. Peter Earle – Director of Economics and Economic Freedom and a Senior Research Fellow at the American Institute of Economic Research – as they discuss the gold standard, why governments dislike it and the reasons behind why it was abolished.

The mainstream financial media buried the lede in its reporting on last week's Fed meeting.

They reported on the rate cut. They sliced and diced the dot plots. They analyzed every syllable coming out of Jerome Powell's mouth. But they barely mentioned the biggest story - the Fed just restarted quantitative easing (QE).

In this week's Midweek Memo podcast, host Mike Maharrey covers the stuff the mainstream reporters left out. He explains what the Fed plans to do, why it is QE no matter what they call it, and how it will impact normal people.

Hint: it means more inflation.

Exclusive interview with Edward Sterck of the World Platinum Investment Council. Edward shares the drivers behind the recent price gains over the last couple of years in the Platinum Group Metals, but discusses how the prospects for the two main metals in that group – platinum and palladium – have different looking outlooks over the longer term.

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

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Some laws were made to be broken!

So, has silver cracked the fundamental relationship between price and demand?

It appears that way, as silver demand is increasing even as the price skyrockets.

In this episode of the Midweek Memo podcast, host Mike Maharrey explains this apparent break in fundamental laws of supply and demand and explores whether silver is what is known as a Giffen good. If so, it could signal even more explosive upside for the silver price in the months ahead.

Mike also covers the recent resurgence in central bank gold buying.

Peter Krauth, author of the book The Silver Bull and publisher of the Silver Stock Investor, weighs in on the recent price action in the silver and explains that the physical silver market remains very tight and more.

You can spin reality using words, but math is math, and it always wins.

In this episode of the Midweek Memo, host Mike Maharrey discusses tariffs, rebate checks, and the national debt in light of the math, along with supply and demand math in the silver market.

Along the way, he reveals that the math doesn't support the political and mainstream rhetoric.

Jorge Jraissati, President of the Economic Inclusion Group discuss the troubling subject of de-banking and how individuals and organizations are suddenly having their bank accounts closed in a growing number of instances and without clear explanations as to why. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Have you ever wondered why the Friday after Thanksgiving is called Black Friday?

It's not the reason most people think. The actual story is much more complicated - and somewhat amusing.

In this episode of the Money Metals' Midweek Memo, host Mike Maharrey explains the evolution of the term "Black Friday and teaches some economics along the way.

He also highlights the release of the 2026 Sound Money Index.

This week don't miss our exclusive interview with Jordan Roy-Byrne, a chartered market technician and master of financial technical analysis, editor and publisher of The Daily Gold, and the author of the book Gold and Silver: The Greatest Bull Market Has Begun.

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

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Decades of artificially low interest rates and money printing have altered people's perception of reality. We imagine that 5 percent interest rates and 7 percent mortgages are "high."

They aren't.

At least not from a historical standpoint.

In this episode of the Midweek Memo podcast, host Mike Maharrey explains why we have an entire generation of people working in the financial sector who think extraordinary loose monetary policy is the norm and why they are wrong. Along the way, he highlights the government's relentless devaluation of the dollar, using the recent demise of the penny as a vivid example.

Exclusive interview with Michael Pento of Pento Portfolio Strategies and author of the book The Coming Bond Market Collapse. Michael weighs in on the growing global de-dollarization movement as foreign countries around the world are actively working to reduce their holdings of U.S. Treasuries and more.

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

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In space, a black hole affects everything close to it.

In an economy, a debt black hole affects everything close to it.

We currently have a massive debt black hole in our midst.

In this episode of the Midweek Memo podcast, host Mike Maharrey reveals the size of this debt black hole, explains how it got here, and highlights the potential impacts on the economy and your money.

Phillip Newman of Metals Focus, reminds us that price corrections should be viewed as healthy consolidation periods rather than the end of a bull market, and tells us how the underlying price drivers remain fully intact.

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

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The Federal Reserve cut interest rates and ended balance sheet reduction at its last meeting despite acknowledging persistent inflation.

This doesn't make sense in a sane world.

But we don't live in a sane world.

In this episode of the Midweek Memo podcast, Mike Maharrey tries to make sense of the insanity. He says that the key to understanding the Fed's moves is recognizing that inflation is the plan. The central bank doesn't want to tackle inflation. It just wants to keep it at a level that doesn't make you too angry. In fact, the government needs inflation to support its borrowing and spending problem. Mike argues that this isn't a policy you can vote away. You can only take steps to minimize its impact on your life.

David Morgan of The Morgan Report, discusses the recent market turmoil in gold and silver and tells us why he views the recent pullback as a healthy correction in a strong bull market, noting that silver has shown particular resilience.

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

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When is bad news good news?

When it wasn't as bad as expected.

That was the case when the September CPI data came out last week.

It was pretty bad. But it wasn't as bad as they expected. So, the mainstream spun it as good.

In this episode of the Midweek Memo podcast, host Mike Maharrey breaks down the inflation situation without the spin and reveals the Fed is about to crank up the money machine. He also puts the recent price movements of gold and silver into that broader context.

This week, an exclusive interview with Axel Merk of Merk Investments. Axel weighs in on the recent, perhaps overdue selloff in gold and silver prices and analyzes the factors behind this week's volatility and much more.

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

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Gold and silver are in the midst of a significant price correction, and with all of the volatility in the markets, it's important to keep your eye on the ball.

By "the ball," we mean the underlying fundamental market dynamics and the trajectory of the economy.

In this episode of the Money Metals' Midweek Memo, host Mike Maharrey digs beneath the recent silver and gold price movements and speculates that there may be more to the recent selloff than just nervous investors worried about an overbought market. It could signal significant strain in the financial system. Along the way, he covers two stories that aren't getting much play in the mainstream financial media - the massive budget deficit and a recent monetary policy announcement by the Federal Reserve.

Incredible interview with Greg Weldon of Weldon Financial, who weighs in on the silver shortage that's developing in London, the incredible demand coming out of India and much more.

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

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Silver finally broke above its all-time high. Meanwhile, gold is setting records on what seems like a daily basis.

But what is this precious metal rally telling us?

There is more to it than central bank demand and investors seeking safe havens.

In this episode of the Money Metals' Midweek Memo, Mike Maharrey takes a deep dive into the current dynamics of the silver market and uncovers the underlying factors driving both gold and silver higher - a shaky global fiat money system and a paper market suffering from an acute shortage of metal.

This week, we have an exclusive interview with Brien Lundin, CEO of Jefferson Financial, editor of the Gold Newsletter and the man behind the renowned New Orleans Investment Conference.

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

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Gold has exploded above $4,000 an ounce, but that might not be the biggest news about the precious metal this week.

In what could be a seismic shift, Morgan Stanley has shaken up the traditional investment paradigm by ditching the conventional 60/40 portfolio and recommending a strategy that includes a 20 percent allocation to gold.

In this episode of the Money Metals Midweek Memo, host Mike Maharrey explains the ramifications of this shift, along with the reasons behind it. Along the way, he covers some of the dynamics behind this gold bull run and what it reveals about financial markets, money, and the economy.

Greg Weldon of Weldon Financial and WeldonLive joins us on this week's podcast. Greg's research calls for the markets to roll over, and he's expecting some very rough waters ahead based on key metrics he's focused on – consumer spending and debt. He also weighs in on the tricky spot the Fed is in and where this is all pointing for both stocks and for gold.

Jim Rickards shares his thoughts on the ongoing War on Cash, the developing War on Gold and how that will play out, and talks about the ticking time bomb in the Chinese economy and what it means for the U.S. stock market.

Frank Holmes of U.S. Global Investors joins us to share his comments on the difference between gold & crypto-currencies, the financial fallout if Congress & the President can't get deregulation & tax cuts, & the environment for precious metals.

David Morgan of the The Morgan Report has some interesting things to say about the dollar, shares his research on the inverse correlation between stocks and metals and gives us his thoughts on when he expects to see gold and silver finally breakout.