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Dear Reader, Yesterday afternoon, the Federal Reserve published the minutes from its July 29 meeting. The headline: a 9-to-3 vote to hold rates at 3.5–3.75%. The three dissenters wanted to hike. That is the most divided the Fed has been in years. Gold did not wait for an analyst to explain the implication. It jumped 4.3% on August 19 to $4,521.26 per ounce. Silver surged 5.8% to $67. The dollar did the opposite. Inside today’s issue:
- WHAT HAPPENED: The FOMC minutes, the 9-to-3 split, and what the dissenters said about inflation.
- THE INVESTOR ANGLE: Gold at $4,521, Jackson Hole on August 28, and the one number that makes this all make sense.
- QUICK HITS: Brent crude above $90, U.S. debt at $39.94 trillion, and what Warsh’s first Jackson Hole speech could mean for rates.
- Jim Rickards: Trump is about to buy this $2 stock. Here is why.
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WHAT HAPPENED The Federal Reserve released the minutes from the July 28–29 FOMC meeting on Wednesday, August 19. The committee voted 9-to-3 to hold the federal funds rate at 3.5–3.75%. Dissenters Beth Hammack, Neel Kashkari, and Lorie Logan all argued the Fed needed to hike now. The minutes showed two camps with no sign of closing the gap. “Many” officials expected inflation to stay elevated because of AI infrastructure spending, which is driving up semiconductor and technology goods prices. CPI came in at 3.4% year-over-year in July, well above the Fed’s 2% target. “Many” others said rates should hold steady or move lower by year’s end. Meanwhile, the U.S. Treasury confirmed the federal government borrowed $432 billion in July alone, or roughly $14 billion per day. Through the first 10 months of fiscal year 2026, the deficit stands at $1.8 trillion, more than the entire deficit recorded in all of fiscal year 2025. Total national debt as of August 11: $39.94 trillion. A central bank that cannot agree on what to do with a 3.4% inflation rate. A government borrowing $14 billion every single day. There is one asset that has been answering this question for thousands of years. Hold that thought.
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Most financial gurus tell you what to do. Robert Kiyosaki tells you what HE'S doing. Just days ago, he posted this to 443,000 people: "During this last 'retracement' or 'crash' I bought more gold and silver." Not "you should buy." Not "consider buying." Not "this might be a good time." "I bought more." That's the difference between talkers and doers. While everyone else panicked, Robert bought. "Gold and silver are going to the moon!!!!" He's putting his money where his mouth is. Now he's revealing ONE opportunity — a streaming company that could deliver 3X-5X silver's gains — so you can do the same. Talk is cheap. |
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THE INVESTOR ANGLE Here is what the gold market is pricing in right now. A central bank split three ways, borrowing accelerating past $2 trillion annually, and inflation that refuses to drop to target. That combination produces a simple trade: get out of paper, get into things that cannot be printed. Gold hit $4,521.26 on August 19. Silver cleared $67. Both are up because of structural reasons, not just sentiment. Central banks globally have been net buyers of gold for the third straight year. When the institutions that print money are buying the thing that can’t be printed, that is a signal worth taking seriously. The near-term catalyst is Jackson Hole. New Fed Chair Kevin Warsh speaks on August 28 in his first major address since taking office May 22. He has told reporters he is “not constrained by market prices.” The September 15–16 FOMC meeting follows three weeks later. A hawkish signal from Warsh could rattle equity markets and send flows into hard assets. A dovish signal could push the three dissenters to vote for a hike in September. Either way, the Fed is telling you it has no consensus on the most important question in markets. Gold heard that answer on Wednesday. You should too. Stay free. Chris Carroll Publisher, Freedom Financial News |
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QUICK HITS Brent Crude Tops $90 as Iran Ceasefire Expires A vessel was struck in the Strait of Hormuz on August 18, killing one crew member. Trump declared Iran wants a deal but will not meet U.S. terms as the ceasefire expired. Brent crude closed at $91.57. About 20% of global oil supply moves through that strait. Jim Rickards Predicts: Trump's Next Big Buy This tiny $2 stock holds the exclusive rights to the largest gold reserve in the country. Jim Rickards believes Trump is about to take a direct stake. The window closes November 3. U.S. Borrowed $1.8 Trillion in 10 Months. More Than All of Last Year. The Committee for a Responsible Federal Budget confirmed the federal government ran a $432 billion deficit in July alone, about $14 billion per day. Total national debt stands at $39.94 trillion as of August 11, 2026. Larry Benedict's Oil Skimming Strategy When the market crashed 37% in 2008, Larry Benedict made $95 million for his clients. Now he says the oil market is creating one of the biggest opportunities in 40 years. And you do not need to own a single oil stock to profit. Jackson Hole Countdown: Warsh Speaks August 28 New Fed Chair Kevin Warsh delivers his first major speech at the Jackson Hole symposium on August 28. He has said he is “not constrained by market prices.” Markets are pricing a 39% probability of a rate hike at the September meeting. |
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P.S. Demand is outpacing supply and the grid can't keep up. One analyst has identified the companies that profit when the infrastructure can't cope. See the full report here |
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