Liberty and Finance, Released on 5/22/25

Craig Hemke of TF Metals Report discusses recent strength in gold and silver, emphasizing that these metals are more than just price points on a screen—they’re physical commodities with systemic importance. He highlights a recent ECB note warning about the risks of leverage and counterparty exposure in the gold derivatives market, which he believes confirms long-standing concerns about the fragility of the system. Hemke argues that gold’s rally is supported by strong fundamentals, such as central bank demand and a weakening U.S. dollar, suggesting a move to new all-time highs could occur within 60 days. On silver, he notes the market is consolidating but may soon break out, potentially reaching $38–$40 if momentum builds. He encourages viewers to stay informed through TF Metals Report and underscores the long-term, structural issues driving precious metal demand.

0:00 Intro
1:30 Gold market update
15:00 Silver market update
20:55 TF Metals Report
23:00 Weekly specials

Known primarily by his nickname “Turd Ferguson,” Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.

  Craig Hemke, ecb, financial system, gold, precious metals, silver