The Deep Dive, Released on 5/4/26

In this conversation with Andy Schectman from Miles Franklin, we discuss why he believes the quoted price of gold and silver is sending the wrong signal, what he thinks is really happening underneath the paper market, and why the most important story in precious metals may be the steady movement of physical metal out of the system. Andy walks through his view of COMEX deliveries, margin hikes, ETF rebalancing, China’s buying, and why he sees price weakness as misdirection rather than a clean reflection of supply and demand. We also get into deficit spending, the deteriorating debt picture in the United States, what that means for currencies and treasuries, and why Andy sees gold as wealth rather than a trade. On silver, we discuss the kind of pressure building in the delivery system, the shrinking cushion between open interest and registered metal, and what investors should be watching if they want to understand when a bigger move could finally hit. If you value real mining conversations without the usual noise, subscribe to the channel and share this with someone else who takes this market seriously. That support helps us keep bringing on guests like this and asking the questions that matter.

00:00 Introduction
01:00 The Price Drop May Be the Distraction
05:23 The Silver Leaving COMEX
11:07 Who Has the Power to Move This Market
15:43 Why Debt Is Driving the Bigger Gold Story
21:45 What Gold Really Means at $5,000
30:43 The Signal That Could Break Silver

Andy Schectman is the President and CEO of Miles Franklin Ltd. Precious Metals. Prior to starting Miles Franklin, Ltd. in 1989, Andrew became a Licensed Financial Planner, specializing in Swiss Franc Investments and alternative investments. At Miles Franklin Ltd., a company that has eclipsed $5 billion in sales, Andrew has developed an operation that maintains trust, collaboration, and ethical behavior, superior customer service and satisfaction to better serve their clients. He is responsible for overseeing the firm’s operations and business functions; including strategy and planning, account management, finance, and new business.

  Andy Schectman, economy, mining, precious metals, silver