People are losing faith in governments and their fake currencies. From Jeffrey A. Tucker at The Epoch Times via zerohedge.com:
We’ve not seen days like these for gold and silver since the late 1970s. It is nothing short of spectacular for investors and hoarders of the tried and true metals. People who have kept the faith in the real are being rewarded. For everyone else, these are scary signs concerning what might be coming our way.
For thousands of years, these two metals have been the most valued in human experience. That’s why they became money, which is the good we acquire to buy other goods. Money becomes that because the market selects the good in question. It’s the most marketable commodity.
Gold and silver have always fit the description because they have uniform quality, have a high value per unit of weight, they are durable, and are highly divisible. So they became money in most places in the industrializing world.
I recently bought some old U.S. quarters and dimes, which were made of silver. The price is far above the stated value because the money was devalued, while the specie value kept rising. They are really wonderful to hold and own because they serve as a reminder of what sound money means. They also symbolize economic and financial independence.
It’s been half a century since the age of fiat money dawned. The United States has tried an experiment to make due with a currency that has no underlying integrity. It’s just paper or just digits. This was supposed to be more modern. We turned our backs on the “barbarous relic,” as J.M. Keynes called gold.
Reading about investors flocking to precious metals because they know a storm is coming.
All demographics plan to spend less for the holidays.
Some store shelves have been vacant for months in certain regions.
But muh golden age under Moshe Trumpstein? (MIGA)
Letting the Truth In Accounting page roll.
They say $161 trillion is the real debt and every taxpayer is on the hook for $920,000.
Dandy Don Meredith warms up Turn Out The Lights.