The Fed met last week and once again took no action. As usual, the headlines were generated by the things Powell & Company said and didn't say.

In this episode of the Midweek Memo podcast, host Mike Maharrey analyzes the meeting and the messaging that came out of it. He explains why the rhetoric has very little connection to reality because everybody seems to be ignoring the proverbial elephant in the room - the Debt Black Hole. That has significant ramifications for the economy and the precious metals markets, as Mike explains.

In this episode, Mike also shares some things he saw on his recent field trip to the Money Metals facility in Idaho.