Category Archive: 6a.) Gold Standard
Central Banks Turn to Gold as Losses Mount
In 2022, central banks will have purchased the largest amount of gold in recent history. According to the World Gold Council, central bank purchases of gold have reached a level not seen since 1967. The world’s central banks bought 673 metric tons in one month, and in the third quarter, the figure reached 400 metric tons. This is interesting because the flow from central banks since 2020 had been eminently net sales.
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Biden Officials Float $1 Trillion Platinum Coin Scheme to Monetize Debt
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As global elites gathered in Davos this week to discuss their plans for controlling the world economy, the gold market is delivering an alternative message.
Among the issues being discussed at this year's World Economic Forum is that of central bank digital currency.
Read the Full Transcript Here:...
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Minnesota Lawmakers Seek Full Sales Tax Exemption of Gold and Silver
(St. Paul, Minnesota, USA – January 16th, 2023) – Legislators in the Twin Cities seek to fully exempt gold and silver from Minnesota’s state sales tax.
House Rep. B. Olson and Sen. Draheim have introduced HF 106 and SF 373, respectively. These two measures would include coins to Minnesota’s current sales tax exemption, which only exempts bars and rounds.
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More Citizens and States Look to Depositories, Not Banks
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Price inflation may be moderating overall, but the inflation problem is far from solved. The underlying cause is the depreciation of the currency.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2023/01/13/states-individuals-turn-to-precious-metals-depositories-002656
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West Virginia Delegate Introduces “Legal Tender Act,” Would End Taxes on Gold and Silver
(Charleston, West Virginia, USA – January 11th, 2023) – Another pro-sound money legislative effort has been introduced in West Virginia. Del. Chris Pritt has introduced House Bill 2333, the “Legal Tender Act.” This measure would establish gold and silver as legal tender in West Virginia, as well as create a nonrefundable tax credit for the use gold and silver in West Virginia on state taxes.
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Stagflation to Terrorize the Economy in 2023
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Gold and silver markets got off to a strong start in the first couple days of trading this year before running into some selling pressure on Thursday – only to bounce back again on Friday morning.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2023/01/06/stagflation-to-terrorize-the-economy-in-2023-002653
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Gold, Silver, & Platinum Had a Good Year
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Precious metals markets are finishing out a choppy 2022 on an up note. A strong fourth quarter is pushing both gold and silver prices back up into positive territory for the year.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2022/12/30/gold-silver-and-platinum-finish-2022-higher-002649
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Geopolitical Tensions Drive Central Banks to Bolster Gold Holdings
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Investors got some superficially good news on the economy this week. But it turned out to be bad news for markets. Equities and precious metals markets sold off on Thursday following government data showing that the economy grew faster than expected in the third quarter. GDP was revised upward to a 3.2% annual pace from July through September.
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Missouri Bill Would End Capital Gains, Invest State Funds in Gold and Silver, Establish State Gold Depository
(Jefferson City, Missouri, USA -- December 14, 2022) - A state senator from St. Charles County has introduced a bill in Missouri to eliminate income taxes on sales of gold and silver, invest state funds in gold and silver, and establish the Missouri Bullion Depository.
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Investors Brace for the Fed’s Hard Landing
As investors hope for a Santa Claus rally in the days ahead, the Grinch is looking to steal their holiday cheer. Federal Reserve chairman Jerome Powell announced another interest rate hike on Wednesday – this time by half a percentage point.
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Inflation Firestorm Fuels Sound Money Movement
Sound money, in the form of physical gold and silver, look to be ending the year on a bullish footing. Meanwhile, things are looking positive on the sound money public policy front as well, thanks to some big wins at the state level in 2022 combined with renewed enthusiasm among our legislative allies as we head into the 2023 legislative season.
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2022 Sound Money Scholarship Winners Announced
6 Outstanding Students Earn Almost $10,000 in Tuition Assistance
Eagle, Idaho (December 6, 2022) – Six outstanding students beat out almost 100 of their high-school and college peers in making the best case for sound money through an international, gold-backed scholarship competition...
...and the winners walked away with a total of $9,500 in scholarship awards for their exceptional, thought-provoking essays.
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U.S. Dollar Index Has Called the Fed’s Bluff on Interest Rates
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Federal Reserve Chairman Jay Powell said in a statement that the Fed would "moderate" the pace of rate hikes. Investors interpreted that term as a sign that monetary policy is moving in a more dovish direction.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2022/12/02/us-dollar-index-has-called-the-feds-bluff-on-interest-rates-002636
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Investors Aren’t Buying the Fed’s Hawkish Posturing
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As warning signs for the economy mount, investors are cheering for more bad news. That's because they expect economic weakness will force the Federal Reserve to stop raising interest rates and eventually re-embrace loose monetary policy.
Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan...
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Collapse of FTX Exchange Poses Warning of Much Broader Risks
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Investors finally got some good news this week on the inflation front. Thursday's Consumer Price Index report showing price level increases moderating somewhat sent stocks, bonds, and precious metals all soaring.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2022/11/11/collapse-of-ftx-exchange-poses-warning-of-much-broader-risks-002624
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Fed Continues Tough Talk, but Gold & Silver Show Resilience
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Precious metals investors remain cautious following the Federal Reserve’s latest jumbo rate hike. It’s the sixth straight hike by central bankers and brings the Fed funds rate up to 4%. That’s the highest it has been since 2008.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2022/11/04/fed-continues-tough-talk-but-gold-silver-show-resilience-002621...
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Biden Administration Argues Economy Is Bouncing Back
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As investors weigh conflicting economic data and the prospects for a Fed pivot, precious metals markets are quietly basing out.
Read the Full Transcript Here: https://www.moneymetals.com/podcasts/2022/10/28/biden-administration-argues-economy-is-bouncing-back-002617
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Rep. Alex Mooney Advocates for Gold Standard Bill on Fox Business
Rep. Alex Mooney (R-WV) joined Fox Business in support of H.R. 9157, the Gold Standard Restoration Act. “The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since 1913,” the Congressman from West Virginia told host Kennedy.
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How Sound Money Won the Battle of Yorktown—and Saved the American Revolution
Early this month, Congressman Alex Mooney of West Virginia introduced the Gold Standard Restoration Act (H.R. 9157). If enacted into law, it would require public disclosure of the federal government’s gold holdings and eventually define the dollar as a weight of gold.
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