Andy Schectman of Miles Franklin joins us to discuss what he sees beneath gold and silver’s price swings: rising physical deliveries, central bank purchases, and buyers who keep accumulating even when prices fall. He describes more than $100 billion in gold and silver standing for delivery on COMEX so far this year. Andy speculates that U.S. officials could be buying metals indirectly, while acknowledging he has no proof.
Andy also explores whether a higher gold valuation and gold-linked Treasuries could help Washington manage its debt, and what that might mean for the dollar. The conversation covers Tether, Judy Shelton’s role at Treasury, inflation, and financial repression.
We then examine the U.S. debt burden, Treasury refinancing, bond yields, and stock valuations. Andy argues that if confidence in the dollar weakens, the bond market—not Washington or the Federal Reserve—will determine interest rates.
