February 25, 2024 3:36 am

Shaping Economic and Financial Landscape.

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Gold has officially achieved its highest closing price in history, marking a significant yet largely unnoticed macro move. The record-breaking ascent of gold prices, now firmly above $2,060, is attributed to a weak US Dollar, lower Treasury yields, Fed easing expectations, and geopolitical tensions in the Middle East.

The surge in gold prices reflects broader economic concerns, with 90% of consumer items in the Consumer Price Index (CPI) soaring by 20% or more compared to 2020, and some items experiencing over a 50% increase. This inflationary trend, coupled with wage increases failing to keep pace, deepens the financial challenges for the middle class.

Investors are grappling with contrasting narratives. On one hand, they are optimistic about the Federal Reserve’s apparent success in maintaining price stability without triggering a recession, envisioning a miraculous soft landing. However, there’s a growing anticipation that the big surprise in 2024 might be a return to high inflation accompanied by an economic downturn.

In an intriguing move at the state level, Oklahoma and Missouri are taking bold steps to reclassify gold and silver. Proposed legislation aims to lower transaction costs, treat precious metals as legal tender, and challenge the Federal Reserve’s monetary monopoly. Bills filed in both states for the 2024 legislative session not only seek to eliminate state capital gains taxes on gold and silver sales but also position these metals as sound money rather than commodities.

These state-level initiatives reflect a broader effort to support sound money principles and challenge the existing fiat currency system. As economic uncertainties persist and gold achieves historic highs, the intersection of state legislative moves and precious metal markets adds a new dimension to the evolving financial landscape. Investors are keenly watching for further cues from economic data and geopolitical developments.

U.S. States Make Bold Move to Reclassify Gold and Silver



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Original Source: Shaping Economic and Financial Landscape.

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