<p>Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.</p>
<p>Coming up, we’ll hear a tremendous interview with Chris Powell of the <a href="https://gata.org/" target="_blank" rel="noopener">Gold Anti-Trust Action Committee</a>, or GATA. Chris enlightens us on both why the U.S. government is involved in gold and silver market manipulation, and how they go about orchestrating their manipulative tactics.</p>
<p>He also explains the true participants behind the major silver and gold ETFs and the pitfalls and concerns that investors of those funds should be vary weary of, but also explains how increasing popularity of these investment products is also a good thing when it comes to the growing acceptance of the precious metals by the mainstream financial world.</p>
<p>So, be sure to stick around for an explosive and incredibly important interview between Money Metals’ Mike Maharrey and Chris Powell of GATA, coming up after this week’s market update. And as a reminder, if you enjoy this material, please do us a favor and like and subscribe to this podcast wherever you consume this content.</p>
<p>Despite gold’s weak performance in recent weeks, UBS still expects gold to gain 20 percent from its current price this year.</p>
<p>Since <a href="https://www.moneymetals.com/news/2026/01/31/some-thoughts-on-the-gold-and-silver-sell-off-004652">the big selloff in January</a>, gold has generally traded in a range between $4,600 and $5,200 an ounce. It got a little bump when the U.S. began military operations in Iran, but has since fallen to the lower end of that range, and even just below it here today.</p>
<p>Gold followed a similar pattern when it corrected last fall, trading sideways for a few months before taking off again.</p>
<p>While many may be surprised that gold has surged due to the war, war hasn’t typically had a long-term impact on the gold price. After an initial safe-haven bump at the onset of a war, other factors, particularly monetary policy, have <a href="https://www.moneymetals.com/news/2026/03/03/how-has-war-impacted-the-gold-price-in-the-modern-era-004733">driven the gold price in wartime</a>.</p>
<p>In a note, UBS analysts noted that gold has not been able to break through resistance at $5,200 even with the geopolitical uncertainty of the Iran war, calling it <i>“a contrast to its 65 percent rise last year, when heightened geopolitical risks served as a tailwind amid fundamental drivers such as lower real interest rates and debt concerns.”</i></p>
<p>However, they noted that gold seems to be following a familiar wartime pattern, with many investors using gold as a source of liquidity to manage stock and commodity price swings, pointing out that its latest performance mirrors historical behavior during such events, where investors seek liquidity and consider alternatives like energy assets.</p>
<p>UBS backed up their generalization of the wartime pattern by pointing out that gold behaved similarly during other recent military conflicts. Gold jumped 15 percent after the start of the Russia-Ukraine conflict in 2022, but then declined by 15-18 percent as the Federal Reserve raised rates. The same happened during the Gulf War and Iraq War – prices rose 17 percent and 19 percent, respectively, at the start but decreased as tensions eased.</p>
<p>Looking beyond the short-term impacts of the war, UBS analysts remain bullish on gold, forecasting the price to rise to between $5,900 and $6,200 by the end of the year, as the key drivers underpinning its strong rally remain fully in place.</p>
<p>"Given the macroeconomic and political uncertainties beyond the risks arising from the U.S.-Iran conflict, we continue to hold a positive view on gold and believe that the yellow metal remains an effective portfolio diversifier," UBS said.</p>
<p>They point out that investment demand remains robust, even as the metal trades rangebound. <a href="https://www.moneymetals.com/news/2026/03/05/etfs-added-more-gold-in-february-despite-recent-price-correction-004745">ETFs globally added 26 tonnes of gold in February</a>, pushing total holdings to a record of 4,171 tonnes.</p>
<p>Analysts at the Swiss bank add that the factors driving the bull market before the war remain in place and may be exacerbated by the ongoing conflict. They write that gold is more of a hedge against the wider impact of conflicts than against direct wartime threats. Gold primarily insulates monetary risks such as currency devaluation, rising deficits, and economic slowdowns – that can result from geopolitical conflicts.</p>
<p>The UBS note cautioned that the war could cause short-term pressure on gold prices for investors. However, UBS analysts don’t think central banks will be inclined to hike rates.</p>
<p>In fact, the Federal Reserve is <a href="https://www.moneymetals.com/news/2025/01/12/trump-vs-powell-and-a-catch-22-003748">caught in a Catch-22</a> where it should hold rates higher for longer to battle <a href="https://www.moneymetals.com/news/2026/03/12/cpi-steady-as-inflation-keeps-increasing-004756">rising inflation</a> (war or no war), but can’t because the economy is being warped by a giant <a href="https://www.moneymetals.com/podcasts/2025/11/12/the-debt-black-hole-004473">Debt Black Hole</a>. In fact, further monetary easing seems far more likely than interest rate hikes.</p>
<p>The longer the war drags on, the greater the risk of negative economic impacts. Ultimately, we’re talking about an inflationary scenario, as the Fed will likely have to take steps to monetize the wartime debt. That means more money creation.</p>
<p>In other news, two members of Congress have just introduced the SILVER Act, a measure aimed at modernizing the nation’s precious metals storage framework and reducing systemic risks within U.S. financial markets.</p>
<p>Under current futures market exchange practices, storage facilities are confined to the Greater New York City area, creating what lawmakers and industry participants describe as a concentration risk with negative implications for market stability, national security, liquidity, and investor access.</p>
<p>This geographical concentration has raised concerns about vulnerability to disruptive events, including natural disasters, cyber incidents, or security threats that could impact a single region and ripple across global markets.</p>
<p>Supporters of the legislation, like Money Metals and several other major players in the precious metals industry, argue that expanding eligibility to include secure depositories in other regions – particularly in the Western United States, where much of the nation’s mining and refining activity occurs – would improve market resiliency and access. Significant supply and price dislocations across the global precious metals markets over the past year have uncovered vulnerabilities.</p>
<p>In addition to risk concerns, proponents say the current system limits competition and drives higher costs for investors. Storage fees at existing exchange-approved facilities are often at the maximum allowable rates, while comparable facilities outside the New York region may offer services at significantly lower costs.</p>
<p>The SILVER Act would direct the Commodity Futures Trading Commission (CFTC) to promote transparency in the depository selection process and encourage broader geographic participation.</p>
<p>The bill does not mandate the approval of specific facilities but aims to ensure a more open and competitive framework.</p>
<p>Industry stakeholders note that expanding the network of approved depositories could increase storage capacity, improve liquidity, and make it easier for investors, producers, and institutions to participate in the market without incurring unnecessary transportation and storage costs.</p>
<p>New York is no longer the center of the financial universe, and Wall Street powers continuing to act so short-sightedly could prove to be reckless. We will certainly keep you apprised of the progress of the SILVER Act, just as we do with other key precious metals legislation across the nation.</p>
<p>Well, before we get to this week’s interview let’s recap the market action.</p>
<p>Gold and silver continue their slide here today to close out what will be a third straight week of losses. Gold is off nearly $500 since last Friday’s close now or 9.2% to come in at $4,567 an ounce. Silver is down more than $11 on the week and has fallen again below $70, at least as of this Friday late morning recording. The white metal checks in at $69.96 an ounce, suffering a 13.9% weekly decline.</p>
<p>Turning to the PGMs, platinum is off a more modest 2.7% to come in at $1,970. And finally, palladium is down about $125 or 8.1% to trade at $1,443.</p>
<p>Well now, without further delay, let’s get right to this week's exclusive interview.</p>
<div class="pl-3">
<p><b>Mike Maharrey:</b> Greetings. Mike Maharrey here and I'm joined today by Chris Powell. Chris is a longtime journalist and one of the founders of the Gold Antitrust Action Committee, commonly known as GATA. How you doing today, Chris?</p>
<p><b>Chris Powell:</b> Well, I've seen better days for gold and silver, but I'm hoping tomorrow will be one of those.</p>
<p><b>Mike Maharrey:</b> Yeah, today's one of those days, but I mean, we have those from time to time. So first, before we really dig into things, I do want to let you tell folks exactly what GATA does. What is the organization? What's your goal and how did you come to be?</p>
<p><b>Chris Powell:</b> Yeah, we were founded in late 1998 and formerly incorporated in January 1999 to expose clamor against and even litigate against the manipulation of the gold market. That purpose really has been a little bit extended into silver as well. We fairly quickly discovered after a year or so that we couldn't really sue against the manipulation itself because the manipulation is fully authorized by the Gold Reserve Act of 1934. The US government gave itself the power to intervene surreptitiously in not only the gold market, but really any gold market and any market in the world. And when we got that advice from our antitrust lawyers that suing the government over the manipulation itself wasn't likely to get us too far, we realized that probably the best we could do was just try to expose the interventions and the manipulations and even try to use Federal Freedom of Information Law to get some of the documents that prove the intervention.</p>
<p>And that's really what we've been doing for the last 25 years or so. We have collected a very extensive archive of mainly government's own documents establishing longstanding Western government and central bank policy of intervening usually surreptitiously, but sometimes openly in the gold market to suppress the price of gold, which is really the ultimate reserve currency. And by suppressing it, favor the US dollar remaining the world reserve currency and favoring US Treasury investments as the best collateral in the world. I think we've done a very good job in amassing those documents. They're in the documentation file on our internet site. And I think we've let much of the gold and silver sector around the world know about it. We've let certain central banks know about it. I'm very confident that Russia and China particularly know about it or learned about it originally because of GATA’s work.</p>
<p>We have not yet done a very good job in getting the mainstream financial news organizations to cover the issue, but we're still working on that. We had a very big success a few weeks ago when the National Post in Canada published a very big story that mentioned GATA’s work. So one day at a time, but I think everybody in the gold and silver sector knows now that there are questions of manipulation by governments and central banks in the monetary metals market, even if the financial press won't cover it.</p>
<p><b>Mike Maharrey:</b> Yeah, absolutely. I was thinking that as you were talking, that as I talk to folks, I think there's a general sense that this is happening, has happened. And I think there's some squeamishness about it in the minds of most people, but I also don't think people really understand what that means. They'll say, oh yeah, there's definitely manipulation in the gold and silver markets, but I don't think people really comprehend exactly what we're talking about there. So, can you give maybe a 20,000-foot view of what governments are actually doing? And I don't want to get too far into the weeds, but if you can give people a sense of the how that this kind of manipulation takes place.</p>
<p><b>Chris Powell:</b> Sure. This manipulation has taken place, excuse me, in the open through sale of government reserves that has taken place surreptitiously in the futures markets by government-sponsored sale of gold and silver derivatives, shorting of the metals. And that is really what we have been pounding against to let people know even if you don't get an admission from the government, even when there is no admission, you can see the fingerprints in the market. They operate through what's called bullion banks, major investment banks like JP Morgan Chase, HSBC, and they intervene in the futures markets. The government also leases and swaps official sector gold in order to influence prices. They apply this gold in markets around the world where it's most needed in order to tamp the price down. The purpose of this is to maintain the value of government currencies and the value of US government bonds.</p>
<p>It's also intended to suppress interest rates. Gold is really the inverse of all these things. The price of gold is the inverse of the value of government currencies, and it's also the inverse of the value of government bonds. That's what the governments really have always been interested in doing is protecting the value of their currencies and their bonds, and particularly in keeping the US government as the World Reserve currency and defending it against the restoration of the former World Reserve currency, which was gold. I like to think gold is the once in future world reserve currency.</p>
<p><b>Mike Maharrey:</b> Yeah, absolutely. It's interesting too, because if you understand the economic concept that incentives matter, it makes sense that governments would do this because they're incentivized to, they're incentivized to prop up their own currency because that's their power. I always like to tell people gold is kind of the people's power because this type of manipulation, notwithstanding, it is much more difficult for them to control that than it is to control their own fiat money.</p>
<p><b>Chris Powell:</b> Yeah. Well, gold is money without counterparty risk. If you're using gold ordinarily, unless the government's heavily intervening at the moment, government has less power over you. If you're using some official currency, well, you are the slave of the issuer of that currency.</p>
<p><b>Mike Maharrey:</b> Yeah, that's a great way to put it. So I want to talk a little bit about the silver market because I think that sometimes it's easier to see the manipulation because it is a smaller market than the gold market. And we've saw two big runs up in the price of silver in the last year. One was in October where we finally broke above $50 an ounce for the first time. And then we also had another big run up toward the end of the year when we saw silver actually go as high as around $120 an ounce. And I'm wondering, a lot of this was due to the fact, and this is openly acknowledged that there was not enough metal to meet all of the delivery. Was this kind of an emperor has no clothes moment in your mind where a lot of people realized the manipulation gain can only run so far?</p>
<p><b>Mike Maharrey:</b> I mean, ultimately it comes down to real metal. Did you get that sense with this?</p>
<p><b>Chris Powell:</b> Yeah, I think the dramatic rise in gold and silver over the last year or so is emblematic of a classic short squeeze that so much imaginary metal was injected into the markets through derivatives, and it started to be called after the United States froze the Russian foreign exchange assets when the war in Ukraine began, that's when people began to realize that, wait a minute, the Western financial system isn't so safe and even US Treasury bonds are not so safe because the United States can seize or freeze those at any time. So, I think many sovereigns and some investors began to look for alternative assets that were safer than US dollars, US treasuries. And there really isn't too much besides the monetary metals. And I think at that point they also knew, in part because of GATA's work, that paper gold and paper silver are not to be relied on either, that the metals can be relied on only if you have them in your hand or in a safe, secure place where the US government can't get at them.</p>
<p>And the gold and silver markets, I think were so over-papered that just the withdrawal of a little real metal from the bullion banks caused a massive, short squeeze. And really the violence of the ascent of the prices, I think is proof that a short squeeze was going on.</p>
<p><b>Mike Maharrey:</b> So, we've had corrections off of those. The first correction actually after it went above $50, we saw a little bit of a correction and we saw a big correction in January in both gold and silver. And in a speech that you did up in Canada, you said that these price smashes were not occasioned by anyone selling real metal, but just by dumping more paper in the London and New York markets. Can you kind of expound on that?</p>
<p><b>Chris Powell:</b> Yeah, I think they thought that if they dumped a lot of paper, suddenly they could scare enough investors away that they could cover their new short positions very quickly. In past years, these futures dumps, they would suppress the gold and solar prices for weeks, if not months. Now these smashes, they're lucky if their effects last more than a couple of days. The market is working off the paper excess, in my opinion. This is what's going on around the world. It has been estimated for years that the ratio of paper gold to real metal in the markets was as high as 100 to one. I think the Reserve Bank of India did a report a few years ago, estimating the ratio of imaginary gold to real gold in the markets at 92 to one. There are estimates that the ratio of imaginary paper silver to real metal in the market, maybe as high as 350 to one.</p>
<p>What happens to the price when people don't want paper anymore? They want real metal, and they discover that it's not there.</p>
<p><b>Mike Maharrey:</b> Yeah. And that kind of goes to my next question. Do you think that the demand for physical metal is ultimately going to wrest control from the paper traders?</p>
<p><b>Chris Powell:</b> Yeah, I think our work has been purposed on that belief. The paper, gold, paper, silver, that's imaginary stuff. It is the instrument of market manipulation. It's the instrument of government domination of the individual. And if we can ever destroy the deception there, then the metals will find market prices. I think we're well on our way.</p>
<p><b>Mike Maharrey:</b> Yeah, I feel like that too, because I think there's a growing awareness as we've kind of already touched on. When we saw these big runs up, you almost felt like that this was the powers that be losing control and you could almost sense that panic. It's funny to watch the mainstream financial press whenever there's a big selloff, a correction. And people should understand, corrections are normal in any market, manipulation or no, you're going to have corrections in any kind of bull market. But I'll give you an example when we were seeing the first kind of correction after the Iran war. So, we had a pretty big run up in the price of gold right after the tax, and then it kind of sold back off and settled back out. And when we were having this big selloff, everything was selling off this day. I think it was the Tuesday after the conflict broke out.</p>
<p>And so stocks were selling off, treasuries were selling off, Bitcoin was selling off, everything was selling off, including gold and silver or CNBC, I think it was, their headline was is that silver and gold, the momentum trade is over. So they ignored everything else in the market, but they focused in on, oh, look, gold and silver is selling. Why do you think there's such a, I don't know, almost this antagonistic attitude towards metals, gold and silver and the mainstream financial medium?</p>
<p><b>Chris Powell:</b> Well, I think first, gold and silver are hated by those in charge because they're a threat to those in charge. I mean, if you're free to use your own money that the government can't control, well, those who are lied with the government are not going to be helping you out. I think part of it is just a regular business decision. I was talking with GATA’s Chairman, Bill Murphy, once, who was on this particular day, especially angry at the failure of the mainstream financial press to cover the gold manipulation issue. Well, I told him, "Look at The Wall Street Journal today. On page three, there's an ad from JP Morgan Chase. And on page five, there's an ad from HSBC. And on page seven, there's an ad from Morgan Stanley, and you think they're going to have a big article about manipulation on page nine. I mean, these are the bullion banks.</p>
<p>These are the people who are acting as government agents and knocking gold and solar prices down.</p>
<p>I think the biggest mistake I ever made at GATA was, I don't know, 10 or so years ago, we got a quarter million dollars. I know, I think it was $262,000 together to place a full page ad in the Wall Street Journal. And I thought, well, as soon as the financial people see this and the news media sees this, they'll jump on the issue. Well, there's dead silence ever since. I mean, I wish I had that money back, but this is what we're up against. The establishment is not for human liberty. The establishment is not for individual rights against the collective. The establishment is for making sure you stay in line with government money and government bonds, and that you can't really live your own life financially. This is what we're up against, but we've had some successes. And as I said, we had a very good break with the National Post in Canada a few weeks ago.</p>
<p><b>Mike Maharrey:</b> Yeah, absolutely. So we mentioned ETFs. So ETF, for folks who may not be familiar, I don't want to assume everybody understands technical terms, although I don't know that an ETF is that technical, but basically an ETF is a fund that's traded on the stock market like a stock. And generally it holds for a gold back ETF, it holds gold. And so the idea is that it tracks the price of gold and you can buy this ETF and it's kind of like owning gold because you're getting exposure to the price movements without having to deal with actually physically storing gold. So my colleague, Josh, wanted me to ask you that given that the ETF is kind of part of this paper gold system, because we really don't know, do they have all of the gold that they're claiming that's backing this fund? Would you end ETFs if you could wave a magic wand?</p>
<p><b>Chris Powell:</b> Well, being rather libertarian, I'm usually inclined to tell people, do what the hell you want, but I'd certainly advise people to avoid exchange traded funds. I mean, excuse me, especially with gold and silver. I mean, number one, you have to realize you may own a share of a gold and silver ETF, but you can't get at any gold or silver that's supposedly held by those funds. Your shares are not convertible into real metal for you. The only people who can convert shares of gold or silver ETFs into real metal are so- called authorized participants, which are the big bullion banks. If they put together enough hundreds of thousands of shares, they are nominally entitled to exchange them for real metal, but that doesn't help you as an investor now. The ETFs can be shorted. The bullion banks can present shares and take metal out of the ETFs and put it into the market to control prices and then buy it back sometime in the future and replace it.</p>
<p>We don't know at any one moment whether a particular ETF has all the gold that it claims to have or all the silver that it claims to have. Our people have thought from the beginning that the gold and silver ETFs were created particularly explicitly to get the public to put its gold into those vehicles, so that gold could be used against the public itself to be dropped into the market for price control. The bullion banks have the control over the gold and silver and the gold and silver ETFs. They're the authorized participant. They can do whatever they want with that metal, and you're not going to find out about it. In my opinion, if you put your money into a gold or silver ETF, you might as well flush it down the toilet.</p>
<p><b>Mike Maharrey:</b> That's blunt, but I'm inclined to agree with you. I'm wary of them myself. So, as we talk about this subject, and this subject comes up often, as you can imagine, if you're working within precious metal circles, the topic of manipulation is definitely going to come up. And as I mentioned earlier, I think a lot of people are very aware of it, even though they may not understand the mechanisms or the real whys or house. That being said, I will often hear people say, ‘Mike, I really, really appreciate the work you do with gold and silver, but I would never invest in gold and silver because it's just manipulated. Why would I put my money into these metals when I know that they're just going to be manipulated?’ How do you respond to folks who say things like that?</p>
<p><b>Chris Powell:</b> Yeah, that's a common feeling. And I think it's one reason why GATA does not get invited to speak at as many financial conferences as we used to, because some people think that while we're telling people about the great potential of gold and silver in the short squeeze situations we've seen lately, the great potential for the metals, if the world ever understands that most of the metal, it thinks that it owns doesn't exist. Our message is also chasing for the investment people who are trying to sell gold and silver mining shares. We're telling people both about the potential of monetary metals, but the enemies of the monetary metals and the enemies of the gold and silver mining companies. What is the reason for investing in gold and silver despite the ever present threat of manipulation? Well, one is the hope or belief that the manipulation eventually will be exposed enough.</p>
<p>Liberty will triumph. People will realize what's going on and the metals will break free. Well, certainly given the price increases of the last year or two, I think there's very good reason to feel that way, but the governments are not surrendering on gold and silver yet, or at least the US government is not surrendering in the monetary metals markets yet. I think other nations have broken away from the suppression policy. Certainly many central banks around the world in the last few years have been not only buying gold, but announcing that they're buying gold. So the Central Bank Alliance, the International Central Bank Alliance against gold and silver has broken up, and that is a reason to be very hopeful about the prospects for the monetary metals, but the US government hasn't quite given up yet. I did want to point out, I'd like to see this as progress, but on Monday, the US Treasury Secretary, Scott Bessent acknowledged rumors that the United States was either intervening or planning to intervene in the oil futures markets.</p>
<p>And he said, "Yeah, that rumor is in the market, but we're not doing it. " And I was thinking, gee, well, if only there was a financial news organization somewhere that would have the follow-up question, well, how about the gold market? Mr. Secretary, has the United States been intervening in the gold market through derivatives or anything else? Well, of course, that question didn't get asked. But in our documentation file, back in 2009, I had some correspondence, or our lawyer had some correspondence with Kevin M. Warsh, who was a member of the Federal Reserve Board of Governors back then, and is President Trump's nominee to become the new chairman of the Federal Reserve Board. Warsh was acting as the hearing officer on GATA’s Freedom of Information complaint against the Fed for access to all its gold records. Warsh wrote to our lawyer that among the records, the gold records the Fed was refusing to let us see, were the Fed's records of gold swap arrangements the Fed has with foreign banks.</p>
<p>Well, there's no reason for the Fed to have gold swap arrangements with foreign banks unless the Fed is contemplating secret interventions in the gold market. That's on the record. I mean, any reporter who has access to high government officials, the New York Times, Wall Street Journal, Financial Times, anybody who's working for those papers could anytime put a question to the Treasury Secretary, the Fed chairman, or other financial officials about the documents that are in government, the government documents that are on GATA’s internet site could ask them, "Hey, is this government document genuine or is it a forgery?" Is the letter that Fed Governor Warsh sent to GATA his lawyer acknowledging gold swap arrangements, is that a forgery? It's on Fed stationary. It's got a signature on it. This is all waiting for somebody in the mainstream financial press to use to put the screws to the bunch of liars that run the financial system.</p>
<p>Look, I think anybody who's involved in gold and silver now seriously involved knows that there's been a lot of fooling around, but it's a prohibited subject, Mike.</p>
<p><b>Mike Maharrey:</b> Yeah, absolutely. Well, I appreciate the fact that you're out there on the rooftops trumpeting this prohibited subject because somebody has to do that work and glad you're doing it. So before we go, I do want you to point folks towards where they can go to learn more about GATA, where they can access those documents that you mentioned and also how they can support your work.</p>
<p><b>Chris Powell:</b> Oh, thank you very much, Mike. Yeah, our internet site is gata.org. And if you go there, you'll see on the left-hand column of the page, there's a number of sections. One is called the Basics, which is a summary of our documentation with links to the original documents. If you want to come down the rabbit hole with us and spend a couple days going through those documents, I think you'll be convinced that we're not making this up. We have daily dispatches that go out by email. I encourage people to enroll for those. It's free. No salesman will call. You can get our email dispatches by signing up at the top right column of the GATA’s homepage. And we are a federally tax-exempt nonprofit civil rights and educational organization. We're a 501 organization, which means that donations to us in the United States are federally tax deductible.</p>
<p>And if you'd like to support us financially, which we'd appreciate very much, you can make a contribution just by clicking on the How to Help button on our internet site. And I'd just like to tell people no amount is too small. There's a guy in Tucson, Arizona who sends us $20 in cash every once in a while. I don't know who he … Well, I know his name is Jim, but he doesn't want me to know who he is.</p>
<p>I can tell you that when Jim sends us $20, it's $20 more than we've ever gotten from Newmont Mining.</p>
<p><b>Mike Maharrey:</b> There you go. That's awesome. Yeah, and I want to underscore this about your email list. I'm on that, and it is a great source for just gold and silver news in general. You link to a lot of articles that aren't necessarily specifically about manipulation. So for me, it's very valuable in my own work as a resource of finding out what's going on more broadly in the World of Precious Metals. So I would encourage people to sign up to get on that email list, even if you're not really specifically interested in the manipulation aspect. Again, it's just a great overview of the gold and silver market. So it's a great resource. Well, Chris, I really appreciate the work that you're doing and appreciate the fact that you've kind of highlighted some of our work over at Money Metals on the Gada site. And it's great to be in this fight with you.</p>
<p><b>Chris Powell:</b> Oh, it's a privilege, Mike. Thank you.</p>
<p><b>Mike Maharrey:</b> All right. Well, you have a fantastic rest of your day, and I'm sure we'll have you back on in the near future because there's always plenty to talk about in this crazy world of gold and silver.</p>
<p><b>Chris Powell:</b> Yeah, I'm grateful to you, Mike. Thank you.</p>
<p><b>Mike Maharrey:</b> Thank you.</p>
</div>
<p>Good stuff there and I hope you enjoyed that interview, and we always love getting Chris Powell from GATA on our show to highlight the important work his organization is doing. We highly recommend you join us in financially supporting GATA so they can continue to keep doing this work.</p>
<p>Well, that will do it for this week. Be sure to check back next Friday for our next Weekly Market Wrap Podcast. And to check out any of our audio programs, including our second podcast, the Money Metals Midweek Memo, just visit <a href="https://www.moneymetals.com/podcasts">MoneyMetals.com/podcasts</a> or find them wherever you listen to your favorite podcasts. And as a big help to us we would ask you to please like, subscribe, download and rate our podcasts. Doing so helps us extend the reach of this material.</p>
<p>Until next time, this has been Mike Gleason with <a href="https://www.moneymetals.com/podcasts">Money Metals Exchange</a>, thanks for listening and have a wonderful weekend everybody.</p>