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Palisades Gold Radio
Feb 16, 2023
Tom welcomes back, Keith Weiner, to the show. Keith is the President & Founder of Gold Standard Institute USA and CEO of Monetary Metals.
Keith explains the two main forces that led to the price of gold remaining flat in 2022: the Fed’s decision to raise rates and the wild card of Ukraine. He explains that wage earners tend to prefer silver to gold, and that the Fed’s decision to raise rates has only recently started to have an effect on labor. Keith discusses the trend of falling interest rates over the last 40 years and how this has both unleashed capital and created an addiction to lower rates. This, he compared to a wrecking ball swinging back and forth and how the falling trend has caused companies to consume capital and become addicted to the trend.
Keith suggests the Fed’s only concern is consumer prices, then lower rates may be a better way to stimulate production and lower prices. However, he cautions that lower rates can be destructive and that the continual lowering of rates and production could lead to higher prices eventually. He also discusses other effects such as zero interest rates driving investors to riskier asset classes and how speculators can have a big impact on the price of gold and silver.
Ultimately, Keith believes that the bear market in gold is over and that the opportunity cost of owning gold may still be attractive to some. When the Fed reverses, there will be a surge in gold buying, not just from speculators but from those who are questioning the government’s debt levels.
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