Tag Archives: 6a.) Gold Standard

The prospect of Federal Reserve rate hikes continues to rattle Wall Street and cloud the outlook for precious metals. On Wednesday, the central bank strongly signaled it will raise its benchmark Fed funds rate for the first time in three years – likely at its March policy meeting. Policymakers noted that inflation is running “well above” target and also claimed a “strong labor market” justifies a degree of monetary tightening. “There’s quite a bit of room to raise...

(Oklahoma City, Oklahoma — January 20, 2022) – An Oklahoma state representative introduced legislation today that would enable the State Treasurer to protect Sooner State funds from inflation and financial risk by holding physical gold and silver. Introduced by Rep. Sean Roberts, HB 3681 would include physical gold and silver, owned directly, to the list of permissible investments that the State Treasurer can hold. Currently, Oklahoma money managers are largely...

(Oklahoma City, Oklahoma, USA – January 20, 2022) – Oklahoma ended sales taxes on purchases of precious metals long ago, but now a representative from Broken Arrow wants to eliminate yet another tax on on gold and silver transactions. Introduced by Sen. Nathan Dahm, Senate Bill 1480 would end capital gain transactions on the exchange of gold and silver. Arizona, Utah, and Wyoming have enacted similar measures into law. Idaho has considered this measure recently and a...

Last year was a good year for state-level sound money legislation across the United States. 2022 could be even better. Building on the success enjoyed by sound money advocates in Arkansas and Ohio last year, more than a half dozen states are now considering legislation that rolls back discriminatory taxes and regulations on the sale, use, and purchase of gold and silver. More States Are Removing Sales Taxes on Gold & Silver To date, 42 states have removed some or...

. (Birmingham, AL, USA – January 10, 2022) – Alabama currently exempts precious metals from state sales tax, however this exemption is set to expire in 2022. A senator in the Yellowhammer State hopes to extend this popular exemption. Introduced by Senator Tim Melson (1-R), and supported by the Sound Money Defense League, Senate Bill 13 maintains current law by extending the existing sales tax exemption on the purchases of precious metals purchases If Senate Bill 13...

Recent correspondence between U.S. Rep. Alex X. Mooney, R-West Virginia, and the U.S. Treasury Department suggests that the department has given the Federal Reserve and International Monetary Fund unfettered control of a portion of U.S. gold reserves. In a letter to Treasury Secretary Janet Yellen on June 9 this year, Mooney posed many questions about the U.S. gold reserves, which are owned by the Treasury. A reply from the Treasury Department’s deputy assistant...

When will precious metals markets finally make their move? It’s a question that has frustrated many investors in 2021. Gold and silver prices have remained stubbornly rangebound for the past several months. There is no way to know exactly when this consolidation period will end. Long-term investors would be wise to hold their core positions regardless of market conditions (and grow them when feasible). However, there are signs both technical and fundamental that...

The post-COVID inflation surge that was supposed to be “transitory” is looking a lot more permanent. On Friday, the Bureau of Economic Analysis Friday released data on Personal Consumption Expenditures (PCE), the Federal Reserve’s preferred inflation gauge. “The PCE price index for August increased 4.3 percent from one year ago, reflecting increases in both goods and services,” according to the report. “Energy prices increased 24.9 percent and food prices increased...

A prominent U.S. Senator just called the head of the nation’s central bank “dangerous.” Unfortunately, the true dangers of U.S. monetary and fiscal policy were lost on everyone involved. On Tuesday, Federal Reserve Chairman Jerome Powell testified before the Senate banking committee, where Senator Elizabeth Warren led the left wing of the Democratic Party’s attack. “Over and over, you have acted to make our banking system less safe. And that makes you a dangerous man...

When we saw the following comment from a prominent otherwise-free-marketer, we knew it was time to write this article. “…the value of the Fed’s “liabilities”(which are so in name only) [scare quotes and parenthetic comment in original] bears only a very loose connection to the value of its assets.” This statement seems so simple. The Fed is the issuer of America’s and the world’s reserve currency (mainstream pronunciation “muhn-ee”). Observing that this paper has...