Steve St. Angelo: Energy shortage to drive silver price going forward

Arcadia Economics, Released on 10/19/22

We’re entering an economic era where the focus on energy availability has perhaps never been more pronounced. Especially with Russia withholding its natural gas from Europe, and energy prices soaring, the dynamic has served as a reminder as to just how much of our current world is based on energy supply. So in today’s call, Steve St. Angelo of SRS Rocco talks about the energy dynamic and how it relates to gold and silver. He mentions how we’ve reached the point where we’re now consuming more energy than we’re able to replace, and as that trend continues, how it’s going to make growing the current economic structure a lot harder. Steve talks about how gold and silver will serve as stores of energy value, that will increase in importance as the traditional bond and stock markets decline without the same levels of energy production. And that the future economic path will be more based on preserving wealth rather than growing it.

Independent researcher Steve St. Angelo ( started to invest in precious metals in 2002. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested – stand to impact the mining industry, precious metals, paper assets, and the overall economy. Steve considers studying the impacts of EROI one of the most important aspects of his energy research. For the past several years, he has written scholarly articles in some of the top precious metals and financial websites.

Chris Marcus worked 2 years at bond rating agency Moody’s, has an MBA from Wharton, and also worked 7 years as an equity options trader for Susquehanna International Group on the American and New York Stock Exchanges, before leaving in 2012 to create Arcadia Economics. In addition to publishing Arcadia’s Monthly Market Snapshot, he also currently writes market commentary for gold and silver dealer Miles Franklin,, and several others.

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