The gold standard is being talked about again
A bill to restore the gold standard has now been introduced by an American politician.
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The goal, according to Congressman Alex Mooney, is to give the U.S. economy and its currency more stability. Tying the U.S. dollar back to gold, this idea keeps popping up. It would counteract the creation of money out of thin air, as well as stand up to the growing threat of inflation and massive national debt. The economy would then be decoupled from the Fed, and it would once again make the prices, the congressman said. The government's gold reserves and gold-related transactions over the past 60 years would then have to be made public.
In fact, the U.S. dollar has lost about 30 percent of its purchasing power since 2000. Stopping the policy of currency devaluation and turning precious metals into money is gaining support in the U.S., for example from the Sound Money Defense League. Currency devaluation is not a pretty thing, because it punishes wage earners and savers, and not just in the United States. The chairman of the U.S. Federal Reserve, Jerome Powell, does not like the idea of the gold standard. So, he has already spoken out against it. By the way, it has been more than 50 years since President Richard Nixon separated the U.S. dollar from the gold standard. In any case, the fact is that this year it is predicted that the wealth of people around the world will decrease. It will then be the first time in years, since 2008 to be exact, that global financial assets have declined. Just last year, financial assets still rose globally by 10.4 percent. But the consequences of the Ukraine war and high inflation are now taking their toll. The middle class is likely to be particularly affected. Investors can protect themselves in the long term by investing in well-positioned gold companies.
Victoria Gold - https://www.youtube.com/watch?v=PFbOw_s00ao - would come into question. Its Eagle Gold Mine in the Yukon has produced around 106,000 ounces of gold since the beginning of 2022.
Skeena Resources - https://www.youtube.com/watch?v=wBhwyFLRSV8 - is reviving the formerly producing Eskay Creek gold-silver mine in British Columbia's Golden Triangle.
Latest corporate information and press releases from Victoria Gold (https://www.resource-capital.ch/en/companies/victoria-gold-corp/ ) and Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ ).
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