Sound money forces – aided by grassroots action by precious metals investors – have recently secured passage of two new sales tax exemptions in Ohio and Arkansas, leaving just eight states that still fully tax gold and silver.
The consumer can’t handle that kind of pressure and it’s not going to stop. In reality the Fed has no control over the rising prices of food, natural gas, gasoline, housing and minerals.
As the Federal Reserve prepares to taper its asset purchases, investors are preparing to adjust their portfolios.
Some are dumping gold. They could be making a big mistake.
Milton Friedman famously said inflation is “always and everywhere a monetary phenomenon.” He was right but that short statement doesn’t fully explain how inflation works. It has other causes, too.
Excessive money-printing is continuing to devalue currencies at an alarming rate — for which precious metals, namely gold and silver, are the best defence.
