That bracelet on your wrist just shrunk in value in recent days.

I'm David Bruncacho.

After a surge in the price of precious metals last month, there was a crash with the price of silver, now down 24% over five days.

Let's consult economist Julia Coronado, founder and president of macro policy perspectives.

Hiya.

Good morning.

Let's first talk about commodities here.

Did you see the price of silver, went off a cliff last week, gold down, little blips upward this morning.

But what ails this market after such a boom?

You just put your finger on it.

Once you have a boom and speculators pile into something, then inevitably there's going

to be a moment where some of the speculators get out of the market and you can have pretty

significant corrections.

So this has been a market on a tear, all the precious metals. And, yeah, it went through a severe correction, but it's still up quite a bit over the last few months.

Also, apparently, some of the volatility we're seeing more widely, for instance, in some of the stock prices, are market players trying to parse the nomination of

Kevin Warsh to be the next head of the Federal Reserve? I mean, all the marketing on Mr.

Warsh is that he wants to bring interest rates down the way the president wants to. But when

you look at his track record, do you see something different, Julia? That's right. So when Kevin Warsh was a governor at the Fed years back, he was known

to be a bit more hawkish. He did not like the Fed using its balance sheet. He didn't like

lower rates or easy money. And of course, that's exactly what he's promising to fight for now,

or he wouldn't have gotten the job from President Trump. So there's a bit of confusion, but the market

was, you know, amongst the four finalists, he was maybe the least doveish or the least easy money leaning. And that may have been one of the

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