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4.20.15 - New $20 Bill Proposed

Gold last traded at $1,193 an ounce. Silver at $15.89 an ounce.

NEWS SUMMARY: U.S. Stocks cheered China's decision to cut the amount of reserves commercial banks are required to hold by one percent which could boost lending by $200 billion. Asian markets, however, fell. Meanwhile, U.S. economic reports to be released later this week on housing, jobs and durable goods orders will likely to confirm the U.S. economy is stalled. Gold prices eased back from the key $1,200 level as the dollar rebounded slightly.

NEW $20 BILL?: "President Andrew Jackson's face would be removed from America's $20 Bill and replaced with a woman's if legislation introduced in mid-April becomes law," write Craig Smith and Lowell Ponte in THE MONEY CHANGERS: Re-facing and Debasing Our Currency. According to Smith and Ponte: 20bill

This measure is by Democratic Senator Jeanne Shaheen of New Hampshire, the first woman in American history to serve as both a state governor and U.S. Senator. Her aim in re-facing our currency, Shaheen says, is "to point out the significant contributions women have made in U.S. history."

Women have made enormous contributions on many sides of issues. So which women are to be put on our money - heroines of the right, or of the left? And why is Andrew Jackson - the only President who ever reduced America's national debt to Zero - targeted to be replaced by a woman?

Senator Shaheen is a longtime comrade of 2016 Democratic Presidential candidate Hillary Clinton, whose campaign thus far is targeted on female voters via an appeal to elect her as America's first woman President. Is the real purpose of Shaheen's legislation to help mobilize women and promote the Clinton campaign?

NATIONAL COIN WEEK: About one third of Americans at some time in their life have collected U.S. coins. As Swiss America Chairman Craig Smith puts it, "Coin collectors are in the company of kings, presidents and other famous figures."

To celebrate National Coin Week, Craig Smith presents a series of ten two-minute stories entitled, The History of Your Money. The goal is to help inspire Americans to rediscover the rich history behind U.S. gold and silver coins -which also offer financial security during uncertain times like these. Watch $20 BILL VS. $20 GOLD.

According to the U.S. Mint ...

In 1983, President Ronald Reagan set aside the third week in April as a time for people get to know about numismatics - the hobby and study of coins and paper money. Why?

Because collecting coins can help you learn about science, history, and important people, places and events. This year, National Coin Week runs from April 19 to 25.

2015 National Coin Week's theme is Building Tomorrows: Inspiration and Innovation at World's Fairs. These fairs celebrated achievements in science, architecture and social progress. These Coin Week activities will highlight the history of these great events and the 100th anniversary of the 1915 Panama–Pacific International Exposition in San Francisco. There, they celebrated the completion of the Panama Canal and the city’s rebirth from the 1906 earthquake. It also featured the first steam locomotive in the West, the first transcontinental phone call, an assembly plant that produced Ford cars and the Liberty Bell.

QUOTE OF THE WEEK: "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." - ALAN GREENSPAN, Former Chairman of the Federal Reserve of the United States, 1987-2006

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4.17.15 - Markets Fall, Gold Rises

Gold last traded at $1,203 an ounce. Silver at $16.29 an ounce.

STOCKS: U.S. stocks traded sharply lower on Friday as news of stock market regulation from China sent shock waves across global equity markets. Margin lending changes in China now make it easier to short sell stocks. Chines leaders hope to slow down soaring stock markets. Meanwhie, Goldman Sachs shares dropped 1.5% - despite beating expectations by reporting a 2015 1Q profit rise of 40%. No big surprise here. As we have reported in our newest free White Paper The Biggest Bank Heist In History!, the big banking houses have been a primary beneficiary of the Fed's zero interest policy over the last six years.

INFLATION: The consumer-price index rose 0.2% in March from a month earlier, the Labor Department said Friday. In a zero-interest, zero growth world rising inflation is viewed as good news. In today's upside down economic world, the Fed is now desperately seeking to boost inflation to 2%. Ironically, reports alternate inflation indexes (based on 1980 standards) show the real world inflation rate today is over 7% - three times higher than the government's official CPI index! Real world inflation is always higher than the government reports.

consumer inflation

EU: "Looming Greek 'crunch' threatens fresh global crisis," reports Ambrose Evans-Pritchard at the London Telegraph. "George Osborne has warned that Greece's battle with Europe's creditor powers is nearing a 'crunch' point and threatens to detonate a fresh global crisis if mishandled over the next days and weeks. The Chancellor said the escalating crisis in Greece is now the biggest threat to the world economy and has become a haunting theme for finance ministers and central bankers meeting at the International Monetary Fund in Washington this week." Stay tuned, the European asset sale has just begun, which could drag the Euro below parity with the U.S. dollar this year.

DOLLAR: "Citi Economist Says It Might Be Time to Abolish Cash," reports Bloomberg. In a new piece, Citi's Willem Buiter looks at this problem, which is known as the effective lower bound (ELB) on nominal interest rates. Fundamentally, the ELB problem comes down to cash. According to Buiter, the ELB only exists at all due to the existence of cash, which is a bearer instrument that pays zero nominal rates. Why have your money on deposit at a negative rate that reduces your wealth when you can have it in cash and suffer no reduction? Cash therefore gives people an easy and effective way of avoiding negative nominal rates. Buiter's note suggests three ways to address this problem: Abolish currency. Tax currency. Remove the fixed exchange rate between currency and central bank reserves/deposits. Yes, Buiter's solution to cash's ability to allow people to avoid negative deposit rates is to abolish cash altogether. (Note that he's far from being the first to float this idea. Ken Rogoff has given his endorsement to the idea as well, as have others.)

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4.16.15 - Taxing Truth About Bank Deposits

Gold last traded at $1,198 an ounce. Silver at $16.28 an ounce.

* New Scheme to Tax Bank Accounts
* Claims To Protect From Bank Crisis
* Obama OK's New Bank "Bail In" Rules

Taxing Truth About Bank Deposits - By Craig Smith & Lowell Ponte

"Near-zero bank interest has meant near-zero taxes on our savings - until now," write Craig Smith and Lowell Ponte.

A new political scheme to tax bank accounts, according to the Australian Financial Review, might be locked in place in Australian banks as soon as January 1, 2016. This could quickly be copied by other tax-hungry welfare states, including ours.

This bank deposit tax will likely begin at a low percentage, to create a legal precedent, but it is expected to grow rapidly, as the income tax did in the United States. Like many modern taxes, this planned tax on bank accounts is being framed as a tax on the banks, not on individual customers. Its cost, however, will be passed on to depositors in the form of higher fees or lower interest paid on their accounts.

This tax on bank deposits is projected from its start to raise around $500 Million each year, purportedly for a “Financial Stabilization Fund” to help protect banks from collapse in future financial crises.

In the United States, such designated taxes are often diverted to fund other politician wishes. Hundreds of billions in gasoline taxes went to the Highway Trust Fund, then was shifted elsewhere by the same politicians who complain that "our highway infrastructure urgently needs more spending." Such politicians even looted $2.66 Trillion from the Social Security trust fund, leaving behind only I.O.U.s that must be paid for with ever-heavier taxes on future generations or the denial of benefits to today's older generations.

Truth be told, our spendaholic politicians loot whatever pools of public or private money they can grab to pay for their out-of-control spending addiction.

On November 16, 2014, President Barack Obama at the Brisbane, Australia meeting of the G-20 global economic powers agreed to a new financial doctrine called the "bail in." We explained and documented in detail what happened there in our 2014 White Paper, AFTER THE G-20.

In a nutshell, President Obama agreed that you no longer own your bank accounts. The United States now regards your bank account as an asset that, in effect, belongs to your bank and can be seized by the government to pay bank debts and obligations.

Is it any wonder why so many people are turning to smarter, safer and more secure ways of protecting their money? FULL STORY

FREE WHITE PAPER: The Biggest Bank Heist In History!

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4.15.15 - Death, Taxes & Bank Accounts

Gold last traded at $1,201 an ounce. Silver at $16.27 an ounce.

* Metals Rise As Dollar Falls
* Stocks Rise As Economy Falls
* Bank Accounts You Don't Own
* Making Death A Non-Taxable Event

NEWS SUMMARY: Precious metal prices jumped higher Wednesday on dollar weakness after disappointing industrial production and manufacturing economic data. U.S. stocks also rose as investors focused on upbeat Intel and Delta stock earnings, rather than downbeat economic news and rising oil prices. Meanwhile, St. Louis Fed President James Bullard says he supports an interest rate hike because he sees a coming "boom" in the U.S. economy. One wonders if this "boom" Mr. Bullard sees coming will turn out to be an economic expansion or an economic implosion.

BANKS: Your Bank Account Isn't Yours - By Craig Smith & Lowell Ponte

Last November in Brisbane, Australia, President Obama agreed with G-20 global economic leaders that you no longer own your bank accounts. The United States now regards your bank account as an asset that, in effect, belongs to your bank and can be seized by the government to pay bank debts and obligations.

As we document in DON'T BANK ON IT! The Unsafe World of 21st Century Banking, the bank we used to trust to safeguard our money has become one of the riskiest places to put it. You are already losing money every day that you have a bank account paying less in interest than you are losing to inflation, a deceptive form of taxation. Get ready in the near future to pay the bank a fee, and the government a tax, just for the honor of having a high-risk bank account that pays you nothing.

TAXES: "Repeal The Death Tax And Send It To A Deep Grave," writes Investors Business Daily. "The death tax was originally enacted as a 'temporary' measure in 1916 to help fund that war. World War I ended 97 years ago, on Armistice Day, Nov. 11, 1918. Now is finally the time to bury the death tax. The Republican-controlled House has scheduled a vote on H.R. 1105 to repeal the tax on Thursday .... Death should not be a taxable event. The IRS should not be a mandatory guest at the funeral of a loved one. Over 70% of Americans support repeal of the death tax..."

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