Liberty and Finance, Released on 6/22/23
“I would be reluctant to just be throwing away my gold and silver positions,” says Craig Hemke of TF Metals Report. While prices have recently been depressed in the last couple weeks, looking at the longer-term, he expects a reversal from the Federal Reserve. A pivot should push metals much higher, he says.
0:00 Intro
1:45 Fed rate hikes
9:50 Metals update
13:07 COMEX deliveries
17:20 Commercial holdings
20:30 Opportunity
22:20 TF Metals Report
23:50 Miles Franklin
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: Should We Give Up On Silver? added by Herman James on
View all posts by Herman James →
Turd Ferguson is a nice guy, but his forecasts on silver have been wrong for years. You can’t use fundamentals to predict a completely manipulated market. The Kaiser men are also nice people, but they moved from Reluctant Preppers to silver-pumpers with a vested interest in selling silver.
I resented Dunagan having Andy Schectman tell us that buying precious metals was “not an investment”. That is simply a sales pitch, which replaced Schectman’s previous mantra of “massive silver shortages”. Guess what, there are no massive shortages now, and silver prices from silver dealers have dropped at least 25% from what they were when Schectman was warning us that soon it would be impossible to get silver.
Which explains why the theme switched to “buying precious metals is not an investment”. Tell that to all the people who were loading up on silver as a result of Schectman’s warnings, who have seen the premiums come falling down.