Gold standard

Does gold go on vacation? I don’t know, but I am going for sure. But before that happens, I encourage you to read another special edition of the Gold News Monitor from Auburn, Alabama . . . .

Legislation introduced in Congress recently would define the U.S. dollar as a fixed amount of gold, a move that supporters say would help stabilize the monetary system while protecting savers, workers, and investors from the ravages of inflation . . . .

Republican Congressman from West Virginia Alex Mooney has proposed a bill “to define the dollar as a fixed weight of gold.” The problem is that the US may not have enough physical gold to back the greenback, an expert tells RT . . . .

The US dollar has been dominant as the global reserve currency for a century. It was backed by gold, and the phrase, “good as gold,” had a literal meaning . . . .

A bill introduced in the Texas Senate would establish gold and silver as legal tender in Texas. Passage of the bill would create currency competition in the state and serve to undermine the Federal Reserve’s monopoly on money . . . .

Precious metals markets can certainly be volatile from week to week, but over time they are a more reliable store of value than Federal Reserve Notes . . . .

I’m very impressed with the recent gold action because it’s holding its own in the face of an impending rate hike. It’s fallen off a bit, but not dramatically. It tells you there are good fundamentals behind it, independent of the threat of a stronger dollar . . . .

The following is an interview with former US Federal Reserve Chairman Alan Greenspan . . . .

Debt issued behaves like printed money until that debt is payed back.  That’s the dirty little secret that bona fide economists don’t discuss, at least in public . . . .