John Rubino – Is There A Sea Change Going On In The Silver Market?
John Rubino, Founder of the Dollar Collapse website and editor of his newsletter over at Substack, joins us for a broad discussion on the silver sector and precious metals, that then transitions into the macroeconomic factors moving the markets. We start off reviewing some of the data recently released from the Silver Institute showing that silver demand has increased by 38% since 2020 while mine production recorded a shortfall and was at a deficit in 2022. We discuss the hybrid nature of silver from the industrial demand side and the investor demand side of the equation, and ponder what higher prices and a widening supply deficit could mean for the silver mining stocks.
Next we shift over to the recent news of First Republic’s implosion, being another bank in a recent string of bank failures and challenges to bite the dust, and how that may be shifting some people to reallocate some cash in banks into more defensive investment products, like gold and silver. The discussion evolves into some of the larger economic data points on the horizon from inflation and the labor markets, to what a Fed “pause” after this week’s rate hike may be like, if the higher rates were allowed to persist for 9-12 months as they have messaged. John outlines some of the challenges already being seen due to higher rates in commercial real estate, residential real estate, automobile loan departments, and businesses being forced to roll over money borrowed at steeply higher interest rates. He also points out that another factor to have on the radar is when the “unicorn” companies start dying off in Silicon Valley.