Stefan Gleason Blog | Gold & Silver Wait Their Turn To Ride The Inflationary Wave | Talkmarkets - Page 3
President at Money Metals Exchange
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Gleason is president of Money Metals Exchange, a national precious metals investment company and news service with over 450,000 readers, 35,000 paid customers, and $120 million in annual sales. He launched the company while president of a national newsletter publishing ... more

Gold & Silver Wait Their Turn To Ride The Inflationary Wave

Date: Friday, April 30, 2021 12:28 PM EDT

 

Back on May 1st, 1933, FDR issued Executive Order 6102 -- making it illegal for members of the general public to own more than five ounces of gold bullion. Back then, the dollar’s value was pegged to gold. The government’s way of creating inflation was to raise the price of gold in terms of dollars and make sure as few people as possible were protected from the devaluation.

 

Under our current fiat monetary regime, the Biden administration need not bother with gold prohibition. It can spend and borrow at the will of Congress and get the Federal Reserve to produce all the monetary stimulus it desires.

 

Just like during the days of the classical gold standard, a currency devaluation will ultimately be reflected in the dollar price of gold and silver as well.

 

The devaluation won’t be formally announced. But when the precious metals are trading at record highs again, it will be obvious to anyone who is paying attention that sound money serves as protection against the government’s steady confiscation of purchasing power.

Mike Gleason is a Director with Money Metals Exchange, a national precious metals dealer with over 50,000 customers. Gleason is a hard money advocate and a strong proponent of personal liberty, limited government and the Austrian School of Economics. A graduate of the University of Florida, Gleason has extensive experience in management, sales and logistics as well as precious metals investing. He also puts his longtime broadcasting background to good use, hosting a weekly precious metals podcast since 2011, a program listened to by tens of thousands each week.

 

 

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