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Rep. Ron Paul, R-Texas, has introduced a bill in the United States House of Representatives to repeal the legal tender laws, to prohibit taxation on certain coins and bullion and to repeal superfluous sections of the law related to coinage.

Rep. Paul is the chairman of the House Financial Services Subcommittee on Domestic Monetary Policy. His bill, H.R. 1098, was introduced on March 15. Rep. Paul describes himself on his Web site as a tireless advocate for “limited, constitutional government, low taxes, free markets, and a return to sound monetary policy.”

The short bill has four sections...

Gold and silver remain supported by continuing macroeconomic and geopolitical uncertainty. Inflation, the European sovereign debt crisis, conflict in Libya and the wider Middle East and the nuclear disaster in Japan are all factors which will likely result in gold reaching new record nominal highs in all currencies sooner rather than later.

Gold and silver’s record highs yesterday were barely reported in the non-financial press and media yesterday which is another sign of the lack of animal spirits and popular participation in the bullion markets. One of many strong indications that gold and silver remain far from the speculative bubbles suggested by some.

The US dollar and Swiss franc are down 1% and 2.5% respectively so far on the week. While sterling and the yen have fallen nearly 2% against gold in the week so far...

 The price of gold may hit $5,000 per ounce, nearly three times current levels, in three to four years, as demand from sovereign states, central banks and exchange-traded funds (ETFs) rises, the chairman of two Canadian gold mining companies said.

"Gold is used as insurance for bad governments," Rob McEwen, chairman and chief executive of Minera Andes Inc and US Gold Corp, told Reuters on the sidelines of the Mines and Money conference in Hong Kong on Wednesday.

Gold is traditionally used as a hedging tool against inflation and economic uncertainty. The yellow metal has also been a favorite investor hedge against loose monetary policies in the wake of the global financial crisis...

The situation in Japan is getting worse, not better. There are shortages in food, fuel and warm dry shelter. To make matters exponentially worse, nuclear power plants there continue to burn out of control and emit high levels of radiation. Japan is a stark reminder of how fast a modern technologically advanced society can be brought to its knees by an unforeseen calamity.

On the other side of the Pacific, the devastating pictures from that island nation are taking the attention away from our own, much more predictable, calamity coming from a tsunami of debt...

Utah took its first step Friday toward bringing back the gold standard when the state House passed a bill that would recognize gold and silver coins issued by the federal government as legal currency.

The House voted 47-26 in favor of the legislation that would also exempt the sale of gold from the state capital gains tax and calls for a committee to study alternative currencies for the state...

The recent dip in the dollar is frightening as it declines against gold and peer currencies. Where does gold figure in the monetary system now - and might the U.S. again confiscate gold?

Just take a look at the chart of the U.S. dollar Index and you see a frightening sight. If it sinks any further its support will have evaporated. We have watched all this week the gold price rise and look good in the dollar. But in the euro it has barely moved.   Against the Swiss Franc the dollar looks so weak. With the Technical picture looking so poor, one turns to the fundamentals to see if they conflict or support a downturn for the dollar...

After President Obama released his new $3.7 Trillion budget on Monday Feb. 14th 2011 --- which forecasts deficits for 2011 at $1.6 trillion and $1.1 trillion for 2012 --- his budget director, Jacob Lew, gave testimony to the Senate Budget Committee on Tuesday Feb. 15th 2011. During the Senate Budget Committee hearing, Rep. Mick Mulvaney of South Carolina’s  5^th district points out: “These numbers just aren’t realistic and it’s not a credible document.”  Rep. Mulvaney questioned the assumptions that the revenues and growth in the budget forecast were based on.  In short, as massive as the budget numbers are, it is still hiding the reality of its size and scope. It is important that you read the testimony...

(By Chanyaporn Chanjaroen and Nicholas Larkin - Feb 15, 2011) - Billionaire investor George Soros increased his SPDR Gold Trust share holding by 0.5 percent in the fourth quarter and John Paulson kept his investment unchanged, filings with the U.S. Securities and Exchange Commission show.

(By Jason Hamlin - Jan 24 2011)  -  Gold is down 6% and silver 12% since the start of 2011. This is the sharpest decline in precious metals since June of last year and with technical support broken at the 50-day moving averages, many are concerned of a deeper correction ahead. While there are a myriad of factors driving the prices, two of the major opposing forces are...

(Steve Roach - Jan 12, 2011) WSJ’s investment scoreboard shows 10.3% increase for U.S. Key Date Rarities in 2010.