Consumers are not buying. Sentiment continues to fall away quickly, regardless of Powell’s and Biden’s hot air about the economy remaining fundamentally strong.
We seem to be regressing back to the time when physical gold—“specie,” as they called it—was the measure of power. And this time it’s gold plus a bunch of modern gold equivalents like microchips.
Jan Skoyles looks at seven charts and headlines that warn all is not well in the global economy, including US spending, unofficial consumer debt, and amnesia-riddled central bankers.
The Sound Money Index is a strategic part of the Sound Money Defense League’s efforts to promote gold and silver as sound, constitutional money across the United States, supporting legislative changes that align with this goal.
We live in a universe where the Fed makes its own special accounting rules, and according to its own special accounting rules, a net loss magically transforms into a “deferred asset.”
Sound money activists have long pointed out it is inappropriate to apply any federal income tax, regardless of the rate, against the only kind of money named in the U.S. Constitution. The IRS has never defended how its position squares up with current law.
Not only is gold in a bull run, but it has entered the phase which can be compared to a bank run (as previously explained) on the world financial system, with the US dollar financial system acting as the world banker.
On net, central banks globally increased their gold holdings by 16 tons in March 2024, according to the latest data compiled by the World Gold Council. Buyers added 40 tons of gold to their reserves. This was offset by a net 25 tons in sales.
