Precious Metals “Off to the Races” in 2023? - Monthly Wrap Up
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As we head into the holiday season, Santa promises to bring more rate hikes and slowing economic data, plus a stocking full of crypto fraud. Does this mean a happy New Year for the precious metals? Host Craig Hemke sits down with Dave Kranzler of The Mining Stock Journal and The Short Seller’s Journal to break down all the gold and silver news you need as we head towards year end.
In this edition of The Monthly Wrap-Up, you’ll hear:
- Why hiking rates might slow inflation, but won’t rein it in
- The latest on the continued meltdown of the crypto Ponzi schemes
- Plus: why 2023 could be like 2008
“I think the narrative they’re trying to push is that they can rein in price inflation by destroying demand. In fact, I saw it yesterday, and it was driving me nuts. They’re trying to cool down the economy. Well, on a real basis, the economy was never hot. They point to the employment numbers, and we know those are bogus. So, to me…if you study monetary economics, price inflation—yeah, in the short term you can have supply bottlenecks or a surge in demand that outweighs the amount of supply that’s out there, and you might get temporary price increases, because it’s the function of the price to clear the market, right? Balance out supply and demand. But real inflation comes from increasing the money supply at a rate that’s in excess of the increase of wealth output. We haven’t had a lot of real wealth output since, really, 2007. And the money supply, obviously, has gone to Pluto.”
To hear Dave’s full thoughts on the month’s gold and silver news, listen here:
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