Last week, Treasury Secretary Scott Bessent announced plans to buy back long-dated Treasuries to lower yields. The markets got a different message. The Treasury move reignited the debasement trade and sent both gold and silver sharply higher.
In this episode of the Midweek Memo podcast, host Mike Maharrey explains what the Treasury Department hoped to do and the message it sent the markets instead.
Meanwhile, some people regret missing out on the last gold bull run. If you're one of them, Mike explains why it's not too late to get in on the next move up.