The reality is, the American people wouldn’t accept the level of taxation necessary to maintain the warfare/welfare state. There would be a tax revolt. So, the government resorts to a less obvious tax.

Gold has dropped more than 11 percent from its all-time high of just over $5,102 an ounce in January, and selling pressure continues to dominate the market. A well-established mainstream narrative is driving the bearish sentiment.

Silver may help efficiently produce hydrogen for use as a power source. Not only is hydrogen clean-burning – leaving only water – but it is easier to store and transport than petroleum-based fuels. Conventional methods of producing hydrogen, such as steam methane reforming (SMR) or water electrolysis, have disadvantages that silver may help to overcome.

The inflation dragon is alive and well. Last November, Donald Trump called himself “the affordability president.” However, it appears that the message is falling flat with your average American.

After going negative in March after the outbreak of hostilities between the U.S. and Iran, flows of gold into ETFs flipped positive again in April, with all regions reporting inflows of metal.

Gold demand was up 2 percent year-on-year in the first quarter, setting a record in value terms. Including over-the-counter (OTC) selling, gold demand came in at 1,231 tonnes.

The movement of silver out of the U.S. has helped ease market tightness, but an ongoing structural supply deficit makes the metal vulnerable to future squeezes.

When silver demand outstrips mining and recycling output, silver users must tap into aboveground stocks. That generally means rising prices to incentivize those holding silver to give it up.

Maharrey identified October 2025 as the turning point when a full-scale silver squeeze took hold. Tight inventories collided with logistical disruptions and surging physical demand.

Since the Federal Reserve announced the resumption of quantitative easing (QE) in December, the central bank has expanded its balance sheet by over $200 billion.

April 15th was Tax Day. It’s a source of misery for many of us as we write a big check to the IRS. But did you know the IRS isn’t the source of your biggest tax bill? In fact, you don’t even get a bill. You just pay the tax every time you buy something.

In a rapidly shifting geopolitical environment, gold continues to demonstrate both its resilience and its complexity as a financial asset.

There is no government report more meaningless and yet more relied upon by policymakers than the monthly non-farm payroll report released every month by the Bureau of Labor Statistics.

In a recent episode of the Money Metals podcast, host Mike Maharrey sat down with renowned precious metals analyst Jeff Clark to unpack the sharp pullback in gold prices and the dominant narratives driving market sentiment.

For investors who understand this distinction, the current pullback may represent an opportunity rather than a warning. Short-term sentiment may dominate headlines, but long-term fundamentals continue to point in a very different direction.

Many people forget that gold was in a bull market in early 2008 but suffered a significant selloff at the onset of the financial crisis when the yellow metal fell 32 percent, giving up about 40 percent of its previous bull market gain. Gold then took off and soared by over 153 percent over the next few years.

Bearish sentiment has taken over the markets. As one analyst put it, “Wall Street has thrown in the towel on gold.”

The Fed simultaneously needs to hold interest rates higher (and arguably raise them) to deal with increasing inflation pressure while also needing to cut interest rates due to the massive Debt Black Hole warping the economy.

Despite gold’s sideways performance in recent weeks, UBS still expects gold to gain 20 percent from its current price this year.

With its airspace closed and many flights grounded, gold stuck in Dubai is being sold at a discount.

The Debt Black Hole keeps getting bigger. Household debt grew modestly in the fourth quarter of 2025, ending the year at another record high.

In a recent episode of the Money Metals Midweek Memo, host Mike Maharrey discussed volatility in the gold and silver markets amid escalating geopolitical tensions and broader financial market turmoil. Maharrey opened by criticizing mainstream financial media coverage of a recent selloff that occurred as markets reacted to a conflict involving Iran.

Gold is going to become increasingly important as the deglobalization and de-dollarization trend that took off last year continues to gain steam, according to a recent report.

Gold’s sharp swings and a new Federal Reserve chair are not separate stories. In a recent episode of the Money Metals podcast, Mike Maharrey sat down with Axel Merk, President and Chief Investment Officer of Merk Investments, to connect the dots between market turbulence and what may be a structural shift at the Fed.

Stripping out more volatile food and energy prices, core CPI prices rose 0.3 percent month on month. The annual core CPI dropped from 2.6 percent in December to 2.5 percent, the lowest reading since April 2021.

Gold demand in the tech and industrial sectors was generally flat at 222.8 tonnes in 2025. This was down about 1.5 percent from 226.2 tonnes the previous year.

The silver market is projected to run its sixth straight structural supply deficit in 2026 as investment demand remains high.

Despite the recent selloff, Canadian Imperial Bank of Commerce (CIBC) remains bullish, forecasting $6,000 gold and $100 silver in 2026.

Morgan agreed that the move looks parabolic on a chart. He also cautioned against assuming the rally is just retail euphoria. He pointed out that many physical silver holders have been net sellers even as prices rise, which implies the strongest buying pressure may be coming from larger, more strategic sources.

So, President Trump has announced his pick for Federal Reserve Chairman, and the markets are not pleased. Everybody seems convinced that Kevin Warsh is a “hawkish” pick, and markets are throwing a temper tantrum because they think he might take the easy money punch bowl away.

The dollar is in no danger of losing its status as the primary global reserve currency, but de-dollarization is chipping away at its dominance. It’s clear we’re moving toward a “multipolar” world where several currencies, along with gold, are making up a growing share of global reserves.

Several dynamics have converged to drive silver higher, including spillover effects from the gold bull market, steady industrial demand, surging investment demand, inflation, and geopolitical uncertainty. However, one factor is the key driver – there isn’t enough metal.

Despite the influx of tariff revenue, the federal government continues to run a massive budget deficit. The December budget shortfall came in at $144.75 billion, a record for the month. That was 68 percent higher than December 2024.

Last year, gold rose by over 64 percent, setting 53 new record highs along the way. Silver gained just under 148 percent. Platinum’s price increased by 125.9 percent. Palladium was up just over 80 percent.

With silver and gold both surging significantly higher over the past couple of weeks, a correction was inevitable. When an asset price quickly rises, at some point, it will ultimately become oversold. Investors book profits, and the price corrects.

In a recent episode of the Money Metals podcast, host Mike Maharrey sits down with Peter C. Earle, PhD, of the American Institute for Economic Research (AIER) to unpack what the gold standard actually is—and why it still matters in a world of fiat money.

Challenging the conventional view of gold as a bubble, this analysis explores whether the metal's 109% surge since 2024 signals a permanent paradigm shift rather than a looming crash.

Price inflation has slowed, but that doesn’t mean prices are coming down. They just aren’t rising quite as fast as they were.

The Federal Reserve announced a new round of quantitative easing (QE) on Wednesday. It also cut the federal fund rate by another 25 basis points.

The U.S. economy depends on consumers buying stuff. Persistent price inflation forced Americans to blow through their savings and then turn to credit cards to make ends meet.

It appears the holiday shopping season is being sucked into the massive Debt Black Hole floating through the global economy.

Gold ETFs globally reported net inflows of gold for the sixth straight month, driven by a strong surge in Asian investment.

A fundamental lack of available metal, driven by years of demand outpacing supply, is fueling a major rally in silver prices, which have climbed over 99% this year.

This article argues that the Federal Reserve's decade of ultra-loose monetary policy following the 2008 crisis, including nearly ten years of near-zero rates, has warped the perception of a "normal" interest rate environment.

In a recent episode of the Money Metals podcast, host Mike Maharrey sits down with Jordan Roy-Byrne, CMT, MFTA, editor and publisher of The Daily Gold, to unpack where gold and silver are in the current cycle.

Amid concerns that the traditional 60/40 investment mix no longer works, financial experts are recommending a 20 percent allocation to gold as a necessary portfolio adjustment. This shift is driven by the fact that gold is increasingly viewed as the most reliable hedge against inflation and government spending, unlike bonds which have lost their safe-haven status. Consequently, investors are initiating a "quiet revolution" by moving billions into gold ETFs.

In this Money Metals podcast episode, host Mike Maharrey talks with money manager Michael Pento of Pento Portfolio Strategies about what he sees as a dangerously distorted financial system.

In this episode of the Money Metals Midweek Memo, host Mike Maharrey leans on Greg Weldon’s “debt black hole” metaphor to explain how towering obligations now warp policy, markets, and household finances.

On the Money Metals podcast, host Mike Maharrey sits down with Philip Newman, founding partner and managing director at Metals Focus in London. Newman explains that Metals Focus, launched in 2013, is a pure precious-metals research house; it does not trade.

For the second straight meeting, the Fed cut the federal funds rate by a quarter percent on Wednesday. In an even more aggressive move toward monetary easing, the FOMC also announced balance sheet reduction will end in December.