Reality Check!

The perception is that gold has tanked through the first half of the year.  In fact, the yellow metal isn't down nearly as much as you probably think. The perception is that the new Federal Reserve chairman will keep monetary policy tight to fight inflation.  In fact, the Debt Black Hole may have something else to say about that. In this week's Midweek Memo podcast, host Mike Maharrey provides a reality check, showing that gold's correction isn't nearly as steep as you might think and throwing cold water on the notion that Kevin Warsh will maintain a higher interest rate environment and slay inflation.