Mark Thornton examines whether the precious metals market is coiling after last year’s push, this year’s correction, and months of volatility driven by war news, Fed policy, the dollar, and CPI concerns. He lays out six factors shaping the market: refining bottlenecks, metals flowing east, stacker psychology, sluggish mining stocks, the limited effect of rate hikes, and the Fed’s continued accommodative posture despite its inflation-fighting rhetoric.

He then connects those market signals to a broader problem: government intervention and manipulation across interest rates, currencies, bonds, favored companies, AI, and financial markets. On Side B, the episode features recent interviews with Paul Buitink and Julia La Roche on AI, gold, the Persian Gulf war, and the macro forces affecting individuals.

2026 is the Year of Rothbard—Murray’s 100th birthday—and we’re celebrating by giving away free copies of Wall Street, Banks, and American Foreign Policy through October 31. Grab yours today at https://mises.org/issuesfree

20% off listener offer on the insulated Minor Issues tumbler and three of Mark’s books: https://mises.org/MinorIssuesTumbler. Use coupon code Thornton.

Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Mark Thornton examines whether the precious metals market is coiling after last year’s push, this year’s correction, and months of volatility driven by war news, Fed policy, the dollar, and CPI concerns. He lays out six factors shaping the market: refining bottlenecks, metals flowing east, stacker psychology, sluggish mining stocks, the limited effect of rate hikes, and the Fed’s continued accommodative posture despite its inflation-fighting rhetoric. He then connects those market signals to a broader problem: government intervention and manipulation across interest rates, currencies, bonds, favored companies, AI, and financial markets. On Side B, the episode features recent interviews with Paul Buitink and Julia La Roche on AI, gold, the Persian Gulf war, and the macro forces affecting individuals. 2026 is the Year of Rothbard—Murray’s 100th birthday—and we’re celebrating by giving away free copies of Wall Street, Banks, and American Foreign Policy through October 31. Grab yours today at https://mises.org/issuesfree 20% off listener offer on the insulated Minor Issues tumbler and three of Mark’s books: https://mises.org/MinorIssuesTumbler. Use coupon code Thornton. Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Market Coiling

The 1857 Dred Scott case remains one of the most controversial Supreme Court decision in US History. However, overlooked is the fact that it elevated federal sovereignty above sovereignty of the states.

Original article: https://mises.org/mises-wire/how-conflicting-interpretations-dred-scott-undermine-state-sovereignty

The 1857 Dred Scott case remains one of the most controversial Supreme Court decision in US History. However, overlooked is the fact that it elevated federal sovereignty above sovereignty of the states. Original article: https://mises.org/mises-wire/how-conflicting-interpretations-dred-scott-undermine-state-sovereignty

How Conflicting Interpretations of Dred Scott Undermine State Sovereignty

Mark Thornton opens with Sir Walter Scott’s famous “tangled web” line, using John Law’s Mississippi Bubble and Richard Cantillon’s response to frame today’s financial disorder: national debt, a bond bear market, dollar manipulation, trade war, stock-market fragility, and overseas conflicts. 

Download An Essay on Economic Theory by Richard Cantillon, available for free in PDF, ePub, and as an audiobook: https://mises.org/library/book/essay-economic-theory

On Side B, Thornton discusses the Fed’s first rate hike in three years, the debt trap facing the Treasury market, the energy shock from the Persian Gulf war, the declining global trust in the dollar, and the AI data-center boom as this cycle’s “skyscraper curse” signal. He closes by arguing that gold’s resilience and central-bank accumulation point toward a growing loss of confidence in the paper-money system.

2026 is the Year of Rothbard—Murray’s 100th birthday—and we’re celebrating by giving away free copies of Economic Depressions: Their Cause and Cure through September 30. Grab yours today at https://mises.org/issuesfree

20% off listener offer on the insulated Minor Issues tumbler and three of Mark’s books: https://mises.org/MinorIssuesTumbler. Use coupon code Thornton.

Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Mark Thornton opens with Sir Walter Scott’s famous “tangled web” line, using John Law’s Mississippi Bubble and Richard Cantillon’s response to frame today’s financial disorder: national debt, a bond bear market, dollar manipulation, trade war, stock-market fragility, and overseas conflicts. Download An Essay on Economic Theory by Richard Cantillon, available for free in PDF, ePub, and as an audiobook: https://mises.org/library/book/essay-economic-theory On Side B, Thornton discusses the Fed’s first rate hike in three years, the debt trap facing the Treasury market, the energy shock from the Persian Gulf war, the declining global trust in the dollar, and the AI data-center boom as this cycle’s “skyscraper curse” signal. He closes by arguing that gold’s resilience and central-bank accumulation point toward a growing loss of confidence in the paper-money system. 2026 is the Year of Rothbard—Murray’s 100th birthday—and we’re celebrating by giving away free copies of Economic Depressions: Their Cause and Cure through September 30. Grab yours today at https://mises.org/issuesfree 20% off listener offer on the insulated Minor Issues tumbler and three of Mark’s books: https://mises.org/MinorIssuesTumbler. Use coupon code Thornton. Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Debt, War, and the Tangled Web

The Fed wants to keep interest rates low so the government can borrow on the cheap. But bond markets are driving up interest rates as inflation isn’t going away. 

Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard

Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug 
PROMO CODE: RothPod for 20% off

The Fed wants to keep interest rates low so the government can borrow on the cheap. But bond markets are driving up interest rates as inflation isn’t going away. Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off

Why the Fed Had to Raise the Interest Rate

As state control over forests and brushlands continues apace both in Spain and the US, the dangers of wildfires grow worse. Environmentalists, naturally, blame capitalism.

Original article: https://mises.org/mises-wire/wildfires-and-collectivism-why-they-are-related

As state control over forests and brushlands continues apace both in Spain and the US, the dangers of wildfires grow worse. Environmentalists, naturally, blame capitalism. Original article: https://mises.org/mises-wire/wildfires-and-collectivism-why-they-are-related

Wildfires and Collectivism: Why They Are Related

Utopians are not satisfied with imposing DEI on humans. They also want the state to treat animals as “oppressed” minorities with positive rights.

Narrated by Millian Quinteros.

Utopians are not satisfied with imposing DEI on humans. They also want the state to treat animals as “oppressed” minorities with positive rights. Narrated by Millian Quinteros.

Praxeology and Animals | Wanjiru Njoya & David Gordon

Bill Peterson, the great essayist and economist, pens this tribute to his colleague and teacher. 

Narrated by Jim Vann.

Bill Peterson, the great essayist and economist, pens this tribute to his colleague and teacher. Narrated by Jim Vann.

Sharpening the Student Mind–and Yours: The Second Mile

Ludwig von Mises: Thoughts and Memories

Mises in America

Introduction

The abolitionist would blister his thumb pushing a button that would abolish the state immediately, writes Murray N. Rothbard (1926–1995).

This audio Mises Daily is narrated by Steven Ng.

The abolitionist would blister his thumb pushing a button that would abolish the state immediately, writes Murray N. Rothbard (1926–1995). This audio Mises Daily is narrated by Steven Ng.

Do You Hate the State?

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