Wealthion · Thursday, July 16, 2026
Mark Thornton describes the nomination of Kevin Warsh as a 'hit job' on the precious metals market. He notes that gold, silver, and mining shares tumbled within hours of the nomination, suggesting a coordinated effort to punish investors.
“You called Warsh's nomination a hit job on precious metals.”
“But if you'll notice, President Trump nominated Warsh and of course, the big New York City bankers know about this in advance. Nominated Warsh, and within hours, the price of gold was tumbling, the price of silver was tumbling, the price of mining shares were tumbling and suffered, you know, an incredible loss right off the bat.”
“I mean, that initial loss was uh, incredibly difficult because Kevin Warsh was the least likely nominee. He was the least likely to comply with interest rate cuts. He was the most, um, hawkish of all the four nominees that President Trump was considering.”