Gold Is Real Money; Goldbacks Are Real Currency In Utah; South Carolina Proposes Gold and Silver as Legal Tender

Like rich stouts, the Dow Industrials, S&P 500, and NASDAQ indices all closed Tuesday at new all-time highs and it's not even Black Friday yet. Sure enough, many investors will give thanks to the stock market and their portfolio managers come Thursday.

The world needs to continue on this path of ever-increasing wealth for some reason, even though it defies logic because the global economy is not growing very rapidly. In fact, some European countries are on the brink of a recession if not already ensconced in one, and the future prospects of Germany, Italy, France, and most of the members of the European Union are, due to demographics, not likely to sustain any growth whatsoever in the coming decade (2020s).

But stocks, representing shares in massive multi-national companies, continue to rise, as though the future is already cast in gold.

Speaking of gold, it was revealed Tuesday that the South Carolina House of Representatives has prefiled a bill that would make gold and silver legal tender in the state.

The bill was introduced on November 20, but there was almost no news coverage in the mainstream media. If passed by the full legislature and signed by the governor, it would make the Palmetto State the fourth to recognize precious metals on a par with Federal Reserve Notes (AKA, US dollars, $). Utah, Wyoming, and Oklahoma have passed similar measures.

The movement to return back to constitutional money is gaining momentum as people become more aware and fearful of the profligate spending by the federal government and its use of the Federal reserve as a currency printing press.

Utah has teamed with the United Precious Metals Association (UPMA) to promote what it calls the "goldback," a paper certificate much like a dollar bill, that has actual gold embedded in its form. Individuals and merchants in Utah are using the goldback for transactions within the state, and the UPMA offers online gold, silver and goldback accounts to people and businesses anywhere in the world.

As the Federal Reserve and other central banks continue to fiddle with their fiat currencies, some states are taking the initiative and striking back with money that has the backing of the US constitution. The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”

With a federal debt of $23 trillion dollars, perhaps people are finally awakening to the fact that the Federal Reserve System is a private bank lacking proper oversight by congress, unconstitutional, which issues debt-based currency at interest.

Therein lies the root of many of the problems within our great nation. While Democrats and other liberal and radical elements within government and the media trouble US citizens with phony "impeachment" claims and feeble attempts to dispose of a legally-elected president, the Federal Reserve continues to undermine our freedoms via debt servitude at every level, from the federal government down to the individual.

Gold and silver remain the only real money in a world overrun by fiat currencies.

At the Close, Tuesday, November 26, 2019:
Dow Jones Industrial Average: 28,121.68, +55.21 (+0.20%)
NASDAQ: 8,647.93, +15.44 (+0.18%)
S&P 500: 3,140.52, +6.88 (+0.22%)
NYSE Composite: 13,559.71, +26.82 (+0.20%)

Germany Goes All In; Wall St. Waits on the Fed

Today was Europe's turn. Tomorrow will be America's.

Before most Americans were even awake, Europeans were rejoicing the German Constitutional Court's ruling that the ESM (Emergency Stabilization Fund), used to bail out failing sovereign governments was, according to German law, constitutional, and the ECB could go forward with its plans to bail out Greece and Portugal, and, possibly Spain and Italy, if need be.

The court did add one stipulation, however, that the German portion of the funding would have to be approved by parliament if there wer any increases to the size of the fund.

Thus, Europe and the Euro were saved, once again, by the alchemy of Ponzi-economics, for now.

The ESM, along with other emergency funding mechanisms from the ECB, should "stabilize" the Eurozone for another year to 18 months. Then, well, who knows?

Hurrah.

In the US, markets hung close to the flat line in anticipation of the FOMC interest rate policy announcement, where the Federal Reserve may or may not announce another round of Quantitative Easing, better known as QE, and, in this case, since it would be the third (or fourth, if you count operation twist) round of easing, QE3.

Three cheers.

The announcement will be delivered around 2:15 pm EDT on Thursday, unless, of course, like the German court ruling, it is leaked to the press first.

Some day, investors will want to know about individual stocks, but not these days.

Dow 13,333.35, +9.99(0.07%)
NASDAQ 3,114.31, +9.78(0.32%)
S&P 500 1,436.56, +3.00(0.21%)
NYSE Composite 8,267.16, +21.01(0.25%)
NASDAQ Volume 1,680,020,000
NYSE Volume 3,555,939,250
Combined NYSE & NASDAQ Advance - Decline: 3429-2094
Combined NYSE & NASDAQ New highs - New lows: 336-30
WTI crude oil: 97.01, -0.16
Gold: 1,733.70, -1.20
Silver: 33.29, 10.27