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.
The market is two months into Gold's breakout from its 13-year cup and handle pattern. Even as Gold and Silver correct, the miners show relative strength and hint at what will come.
Grandich says the recent gold market slowdown might be over, and expects slow but steady growth toward a target price of $2536. Emerging economies, like the BRICS nations, could boost this growth.
