Tuesday, June 27th, 2017 MST

Category: Federal Finances

Paul Krugman vs. gold

Perhaps you’ve noticed that gold was under attack before the $165 price drop 9/22, 9/23. So what, isn’t gold always under attack by the Establishemnt? What’s particularly interesting is that the most recent attack occurred precisely as the the Swiss National Bank announced the peg of the franc to the euro. What should normally be immensely bullish news for gold, is being held in check. Even the illustrious Paul Krugman has joined the fray with his latest blog piece for The New York Times: Treasuries, TIPS, and Gold (Wonkish).

The Sound Money Promotion Act

mckinley hobart sound money buttonOver the last 100 years, Americans have completely lost control of their Constitutional money; to the point where they must pay a tax to essentially make change. Imagine breaking a twenty dollar bill and only getting a ten and a five back, with the other five going to the government. This is the potential problem one encounters when attempting to spend gold or silver money. It’s no accident. The laws are specifically set up to force everyone to use fiat currencies.

Ron Paul calls for fedgov to cancel $1.6 billion debt held by Fed

Congressman and presidential candidate Ron Paul recently introduced legislation calling for the federal government to cancel the $1.6 trillion debt held by the Federal Reserve. Such a move creates legal challenges, one of which would be that the Fed would openly acknowledge that it is a private entity and that fedgov has no authority confiscate its assets. (Fedgov had no “authority” to call in gold in 1933, but legal tests to that stood up.)

Gold is a port in the debt storm

Clearly a reckless Federal government is good for gold – or more accurately, our collective can kickers in Washington DC are very bad for the dollar.  Contrary to the disinformation campaign of Wall Street, and their Federal Reserve sponsored economists, gold is not a bubble. Central banks are now net buyers of gold, and not because of tradition, as Mr. Bernanke would have you believe.

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