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Our $34 Trillion Debt Is Turning the States to Gold

<p><em>Editors at the New York Sun featured the 2024 Sound Money Index in a recent article.&nbsp;<a href=”https://mises.org/wire/sound-money-movement-strikes-gold-2023&quot; rel=”noreferrer noopener”>Hard currency</a>&nbsp;is currently hamstrung by heavy taxation and regulation.</em></p>
<p><em>To restore sound money, several states have enacted legislation to remove the barriers to&nbsp;citizens, and states themselves, investing and saving in historically proven inflation hedges.</em></p>
<p><em>Read a portion of the article below:</em></p>
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<p>Just as we were set to mark our national&nbsp;<a href=”https://apnews.com/article/national-debt-deficits-biden-economy-inflation-record-b4258704f830c7f6e9c5e693748216cb&quot; rel=”noreferrer noopener”>debt</a>&nbsp;crossing $34 trillion the&nbsp;<a href=”https://mises.org/wire/sound-money-movement-strikes-gold-2023&quot; rel=”noreferrer noopener”>Mises Institute</a>&nbsp;sends a note steering its fans to the&nbsp;<a href=”https://www.soundmoneydefense.org/&quot; rel=”noreferrer noopener”>Sound Money</a>&nbsp;Index, ranking the states by the degree to which they provide an environment for honest money.</p>
<p>The&nbsp;<a href=”https://www.moneymetals.com/resources/sound-money-index&quot; rel=”noreferrer noopener”>index</a>, produced by the Sound Money Defense League and Money Metals Exchange, records that the classical monetary metals, gold and silver, discover the value of fiat currencies like the dollar, not the other way around.</p>
<p>&ldquo;Gold and silver are money,&rdquo; the index notes, &ldquo;not by government decree, but because they have proven to be over the test of time, by maintaining their value.&rdquo;</p>
<p>That insight is underscored, as the 2024 index is released, by the fact that the fiat dollar is flirting with an all-time low versus gold. On the last trading day of 2023, the Wall Street Journal&nbsp;<a href=”https://www.wsj.com/finance/commodities-futures/the-fed-alone-cant-make-gold-sparkle-in-2024-7c450d78&quot; rel=”noreferrer noopener”>observes</a>, the dollar fetched in futures markets but a 2,062nd of an ounce of gold &mdash; a fall for the year of 13 percent.</p>
<p>Over the long run the dollar&rsquo;s collapse has been even more precipitous. It&rsquo;s been a downhill plunge since President Nixon in 1971 severed the greenback&rsquo;s last link to the gold standard.</p>
<p>To read the full article, visit the&nbsp;<a href=”https://www.nysun.com/article/our-34-trillion-debt-is-turning-the-states-to-gold?lctg=1430601726&amp;amp;newsletter-access&amp;utm_source=MG&amp;utm_medium=email&amp;utm_campaign=Morning%20Sun%20%202024-01-03″ rel=”noreferrer noopener”>New York Sun</a>.</p>
<p>Img credit: New York Sun</p>