Jeff Clarke & Mike Maloney Talk About The State of Precious Metals

Jeff Clark sat down with Mike Maloney at the end of June to answer questions from their customers and readers. You’ll get an update on when gold and silver prices could rise again, JP Morgan’s massive physical silver holdings, silver vs. cryptocurrencies, and more.

It’s hard not to feel like precious metals are permanently under the spell of the Fed and Wall Street since strength in metals is a direct reflection of the weakness in the US Dollar and confidence in our monetary system. This is something the government cannot afford to have happen given the level of debt the USA has accumulated.

Given that the Commodity Futures Trading Commission (CFTC) has apparently looked the other way where the massive silver accumulation by JP Morgan is concerned, it doesn’t inspire any confidence that the supposed “regulation” of this market is protecting any of us.

The government can’t afford to have gold and silver spike higher in value so could we be in a permanent sideways to bear market in both markets?

Aside from a stock market collapse, what’s going to get either of these metals moving as long as the manipulation continues without consequences? It’s so frustrating to think that there is so much manipulation and control by Wall Street and the government that goes without penalty (as we’ve already seen) while all of us investors trying to protect ourselves from an out-of-control government are the ones suffering in the end.

That said, I am buying silver and gold as a store of wealth. The alternative is to invest in assets that depreciate or have maintenance costs, or to hold depreciating fiat dollars. Banks do not give enough interest and Certificate Of Deposit’s are dead. Silver and gold are also something you can hold and own, and they make a good hedge against a failure in the dollar or a catastrophe like an EMP.

The future currency regime may still be one of fiat dollars of some form but I still believe that holding fiat dollars over time would result in a net loss of wealth over that time compared to holding silver and gold. Paper money eventually returns to its intrinsic value – zero. Gold and silver have always been money.

The banks want you to spend those dollars. And Dollars decay.

Anyway, listen to Clarke’s and Maloney’s thoughts on these issues…

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