"It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments. Ideologically it belongs in the same class with political constitutions and bills of rights. The demand for constitutional guarantees and for bills of rights was a reaction against arbitrary rule and the nonobservance of old customs by kings. The postulate of sound money was first brought up as a response to the princely practice of debasing the coinage."
"The trouble with gold is that it turns its back on world improvers, empire builders and do-gooders...The nice thing about gold is that it is so unresponsive. It neither laughs nor applauds."
"There is presently no 'fear' present to drive investors into the psychological 'safe haven' of gold."
- Record issuance of money-losing IPOs
- Mass issuance of SPACs
- Record margin debt levels
- Near-record stock valuations
- Retail investors taking on personal debt to invest
- Belief by investors of the "Fed Put".
"In today's fiat currency economy, the ability to use gold as a method for transactions on a global scale remains destroyed. Therefore, gold has become a 'fear trade' over concerns of the Dollar's demise, inflation and an economic reset."