Don Durrett: The Fed has Broken the Free Market
Tom welcomes Don Durrett, author, investor, and founder of GoldStockData.com back to the show.
Don believes that the Fed is killing the banking industry, causing inflation to drop rapidly and leading us into a recession. They’ve been focused on regaining their MMT toolbox, as well as insuring enough liquidity in the market to prevent system failure. This is causing a paradigm shift in the economy. Layoffs will lead to a significant recession and possibly our own “lost decade”.
Credit availability is decreasing and earnings are expected to decline. The odds favor another drop in gold during a market selloff. Silver is undervalued and banks are preventing the metals from outperforming equities.
Changes to Mexican mining laws are raising taxes, and potential for nationalization of mines remains a concern. Dan believes silver will be designated as a strategic metal and ETFs outlawed when shortages occur. He advises selling silver miners before gold miners.
Time Stamp References:
0:00 – Introduction
0:34 – Fed Rate Hike
7:48 – Low Rates & Printing
16:00 – Slowdowns & Reality
27:02 – Silver & Manipulation
32:34 – Price Targets
37:53 – Mexico Mining Laws
42:50 – Nationalization Risks
47:53 – Outlawing Silver ETFS
50:40 – Canada & No Reserves
52:12 – Wrap Up
Talking Points From This Episode
- The Fed is killing the banking industry and driving us towards a recession.
- Silver may be designated as a strategic metal and ETFs banned when shortages occur.
- Changes to Mexican mining laws are increasing costs. Globally nationalization of mines is a concern.
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Blog Posts: https://seekingalpha.com/author/don-durrett#regular_articles
Don Durrett received an MBA from California State University Bakersfield in 1990. He has worked in IT-related positions for 20+ years. He has been a gold investor since 1991, with a focus on Junior Mining stocks since 2004. Realizing the value of investing in gold and silver and noticing the lack of available material for first-time investors, Don set out to provide information. First, he wrote a book, How to Invest in Gold & Silver: A Complete Guide with a Focus on Mining Stocks. He followed up the book with a website (www.goldstockdata.com) to provide data, tools, and analysis for gold and silver stock investors. His gold and silver mining stock newsletter is widely regarded as one of the best. He is a frequent guest on financial podcasts and a contributor to SeekingAlpha.com.