Axel Merk, Founder and CEO of Merk Investments, declares that we are in the “single greatest margin expansion opportunity for the mining sector in a generation” in this exclusive interview with Kitco News Anchor Jeremy Szafron. Merk, whose firm has over $2.9 billion in assets , dives deep into the historic breakout in gold and silver, arguing that the Federal Reserve’s policy of “foaming the markets” will continue to fuel the rally in hard assets.
He also makes a significant call, naming former Fed Governor Kevin Warsh as the ideal candidate for the next Fed Chair to “reform the Fed in earnest”. Merk gives his outlook on the juniors, the majors, and explains why he believes “institutional participation is still modest”, providing a major catalyst for the sector. Finally, he unpacks the historical parallels to the 1929 market crash, providing a unique context on the policies of Presidents Coolidge and Hoover that every investor needs to hear.
(Interview Recorded: September 22, 2025)
Follow Jeremy Szafron on X: @JeremySzafron (
Follow Kitco News on X: @KitcoNewsNOW (
Follow Axel Merk on X: @AxelMerk (
0:00 – Intro: Miners Surge 50%, Silver Hits 14-Year High
1:07 – Axel Merk: Our Assets Under Management Have Doubled in 12 Months
1:40 – Is Silver’s Supply Deficit Finally Breaking the Paper Market?
4:47 – Bitcoin vs. Gold: How Sophisticated Capital is Assessing Risk
6:07 – The Fed is Openly Divided: What It Means for The Path Forward
8:00 – EXCLUSIVE: Axel Merk Names His Pick for Next Fed Chair
11:51 – France’s Fiscal Woes: Is The Euro At Risk?
15:30 – DEEP DIVE: “The Greatest Miner Margin Expansion in a Generation”
17:18 – Counter: Will Inflation Eat Away Miner Profits?
19:15 – Majors vs. Juniors: Where Is The Best Risk-Reward Now?
21:26 – Barrick’s “Game-Changer” & The Importance of Safe Jurisdictions
23:25 – Counter: Are The Majors Shrinking By Default?
25:05 – Why The “Big Money” Institutions Are Still on The Sidelines
28:20 – Fiscal Endgame: U.S. Paralysis vs. Europe’s Proactive Stimulus
31:05 – The Real 1929 Parallel That Everyone Is Missing
36:35 – FINAL CALL: Has The Definition of “Value” Changed?
38:10 – Where to Find Overlooked Opportunities Now
#gold #silver #investing #axelmerk #federalreserve
__________________________________________________________________
Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage.
FOLLOW US:
X:
Instagram:
Facebook:
LinkedIn:
Visit: for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights.
Live gold price and chart:
Live silver price and chart:
Live crypto market data:
For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at:
Disclaimer:
The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
source
29 Comments
Great to have Axel Merk back on the channel for such an in-depth discussion.
His historical parallel between today's market and the lead-up to the 1929 crash was fascinating. After watching, what's your take? Do you see the parallels, or do you think the modern Fed has the tools to prevent a repeat?
Let us know your thoughts below!
Miners suck..
Just remember they can shut down and take all the money in the stock market anytime they want
Should of been in last year at the bottom.
enjoyed his takeaways
Volatility is relative. When one has a relatively long outlook, remove the emotion, and buy the dips.
Time in the market, beats timing the market 😁 (be greedy when others are fearful)
Axel was a fairly famous European cyclist.
❤❤❤❤🎉🎉
Sono per caso arrivato a questo canale… l' ho trovato molto attendibile e interessante, mi sono subito iscritto e penso di seguirlo costantemente. Molto utile è la traduzione verbale automatica in italiano, non solo quella con i sottotitoli. Se tutti i canali esteri, Usa in particolare, offrissero questo servizio sarebbe fantastico.😊😊😊
I agree, Minecraft is a great game!
Thanks Jeremy!
👌👌👌👌👌👌👌
I kept seeing people online talking about Smart Broke Dumb Rich by Zor Veyl—saying it felt illegal to read, like it exposed secrets no one’s supposed to know. Curiosity got the best of me, so I checked it out. Now I understand why everyone was losing their minds. Smart Broke Dumb Rich by Zor Veyl really does feel like a cheat code.
I never had money growing up—just constant stress, overdue bills, arguments, and hearing “we can’t afford that.” I honestly thought something was wrong with me—until I found Smart Broke Dumb Rich by Zor Veyl. The second I started reading it, I felt this wave of anger—realizing I had spent my entire life being kept financially blind on purpose. It truly felt like discovering a secret I was never meant to see. I’m still shocked no one’s tried to ban Smart Broke Dumb Rich by Zor Veyl yet.
I never had money growing up—just constant stress, overdue bills, arguments, and hearing “we can’t afford that.” I honestly thought something was wrong with me—until I found Smart Broke Dumb Rich by Zor Veyl. The second I started reading it, I felt this wave of anger—realizing I had spent my entire life being kept financially blind on purpose. It truly felt like discovering a secret I was never meant to see. I’m still shocked no one’s tried to ban Smart Broke Dumb Rich by Zor Veyl yet.
I scrolled past tons of people swearing by Smart Broke Dumb Rich by Zor Veyl, calling it the book “they” don’t want us reading. I was skeptical at first, but I finally gave it a chance. Honestly? I’m pissed I didn’t read it sooner. Smart Broke Dumb Rich by Zor Veyl forced me to rethink everything I thought I knew about money. It really is worth the hype.
I scrolled past tons of people swearing by Smart Broke Dumb Rich by Zor Veyl, calling it the book “they” don’t want us reading. I was skeptical at first, but I finally gave it a chance. Honestly? I’m pissed I didn’t read it sooner. Smart Broke Dumb Rich by Zor Veyl forced me to rethink everything I thought I knew about money. It really is worth the hype.
I kept seeing posts saying Smart Broke Dumb Rich by Zor Veyl was “dangerously honest,” like it held almost-banned-level info. Eventually, I gave in and read it. They weren’t lying—Smart Broke Dumb Rich by Zor Veyl hits different. It’s strangely addictive, probably because it gives you the kind of knowledge that feels like it’s not meant for the public.
I kept seeing people online talking about Smart Broke Dumb Rich by Zor Veyl—saying it felt illegal to read, like it exposed secrets no one’s supposed to know. Curiosity got the best of me, so I checked it out. Now I understand why everyone was losing their minds. Smart Broke Dumb Rich by Zor Veyl really does feel like a cheat code.
I’ll be honest—after finishing Smart Broke Dumb Rich by Zor Veyl, my first thought was: “How is this book even allowed to exist?” It completely tore apart everything I’d been told by schools, family, and society about money. No fluff, no empty motivational quotes—just brutal, raw truth. Now I get why Smart Broke Dumb Rich by Zor Veyl isn’t mainstream—it’s too honest. If you can get your hands on it, do it before it disappears.
I never had money growing up—just constant stress, overdue bills, arguments, and hearing “we can’t afford that.” I honestly thought something was wrong with me—until I found Smart Broke Dumb Rich by Zor Veyl. The second I started reading it, I felt this wave of anger—realizing I had spent my entire life being kept financially blind on purpose. It truly felt like discovering a secret I was never meant to see. I’m still shocked no one’s tried to ban Smart Broke Dumb Rich by Zor Veyl yet.
Thank you gentlemen
You fail to understand that it will be much worse than '29… The American debt was 50% of the GDP… China and India were slaves… the world inhabited by 1.5 billion people. Oceans, forests still virgin of resources
GDX!!!
ALERT: Silver price has just crossed a decade plus record high.
IMPACT SILVER has nearly a 20 year record of continuous production of pure (not equivalence) silver in country
with THREE permitted mines. Still trading at huge discounts to market and will re-rate if another 2011, 2016, 2020 scenario shapes up.
"Fed officials are reading tea leaves"… YES… they don't WANT the Fed to work FOR "WE the PEOPLE" they want to satisfy their filthy dirty laundry, while KEEPING us in the DARK! NO ONE who knows anything about the economy thinks the FED WANTS to make things better for Americans…So they DON'T WANT someone in there who'll keep OUT of POLITICS- that's just laughable.
We are NOT in an easing cycle. The QT is still on!
Thank you, that was very informative content.
Great information here.