Tag: Precious Metals
Even though the Constitution recognizes gold and silver as money, the Internal Revenue Service classifies them as “property” which should be taxed as a commodity. It’s no coincidence that the personal income tax (16th Amendment) and the Federal Reserve were established in the same year, 1913. Prior to this, America was experiencing its greatest period of economic growth in history.
Straight-shooting First Majestic Silver CEO, Keith Neumeyer, who in 2015 was the first mining company head to issue a public statement on the manipulation of precious metals prices by a small concentration of players, has said that the company’s legal team is closely monitoring the situation.
Kim says the precious metals are still in “a recovery phase” and says, “We are truly only in the initial stages of the next leg higher. Gold and silver are still highly, highly underpriced in US Dollars.”
Two large banks in the US have changed what can be stored in safety deposit boxes: no cash, no coins other than collectibles. Clearly the new rules are targeting people who are saving extra money or buying gold or silver coins in case the economy implodes. Although it would hurt the more wealthy, it prevents the average American from preparing for the economic meltdown by having something negotiable.
government debt and constant money printing are undermining the average American who is lulled into a false sense of security that things will just continue the way they are. Only by having hard assets (gold, silver, land,) and good health can someone survive the coming meltdown. The price of precious metals is fixed by the elite. Be prepared. It is not a matter of whether but of when.
Peter Schiff, the CEO of Euro Pacific Precious Metals, says, “The messes get progressively bigger because the bubbles get progressively bigger. We have the biggest bubble ever blown right now because we have a simultaneous bubble in the stock market and the real estate market and the bond market.