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%)

Stocks End Worst Month Since May 2012; Odds on Syria Strike; Despite Kerry Rhetoric, Still no Proof

We end the month of August on an oddly-down note, since Secretary of State John Kerry made an impassioned speech about the need to punish the Assad regime in Syria for alleged chemical strikes against its own people, but still did not offer any substantive proof that those loyal to the embattled president of Syria were responsible for the attacks.

Odd, it was, that stocks did not rally in patriotic fervor over going to war, insofar as any action the president may take against Syria is entirely without authorization from congress and decidedly unconstitutional. But, in the politics of the new American dictatorship under president Obama, such trifles as the War Powers Act and the constitution - to say nothing of the American public's 91% disapproval of any action being taken against Syria - count for nil when the stakes are so politically high.

Thus, we present the odds for the timing of missile strikes - "tailored" ones, using the president's own vernacular:
Friday (prior to 12:00 pm EDT): 7-5
Saturday: even
Sunday: 4-1
Monday: 7-1
No strike: 40-1

Stocks ended the most brutal month since May of 2012, spurred to the downside first, by talk of tapering by the Fed and general fear, second, by talk of military action from the Obama administration. The time for talk being essentially over, it is expected that Damascus will be in flames shortly, the Fed will nip about $10-15 billion off its monthly bond-buying binge by the end of September and stocks will continue their trajectory to the downside.

On the day, the Russell 2000 and Dow Transports were mashed fairly substantially, and, despite some fierce tape-painting in the final five minutes of trading (about 40 Dow points), stocks finished the week with their third loss in the past five sessions.

For the week - in which the Dow closed lower for the fourth straight week (first time this year) - the Dow Industrials were down 200.20 points, the NASDAQ shed 67.92 and the S&P 500 was nipped for 30.53 points, a pretty severe decline.

Microsoft (MSFT) was the only Dow component to finish positive for the month.

Now we await the weekend's entertainment: College Football and Bombing Syria.

What could be better?

Dow 14,810.31, -30.64 (0.21%)
NASDAQ 3,589.87, -30.43 (0.84%)
S&P 500 1,632.97, -5.20 (0.32%)
NYSE Composite 9,270.70, -45.12 (0.48%)
NASDAQ Volume 1,229,340,500
NYSE Volume 3,001,316,500
Combined NYSE & NASDAQ Advance - Decline: 1822-4668
Combined NYSE & NASDAQ New highs - New lows: 55-73
WTI crude oil: 107.65, -1.15
Gold: 1,396.10, -16.80
Silver: 23.46, -0.627