U.S Mint Shuts Down

18 Apr

U.S Mint Shuts Down

Coronavirus Closes Mint

The US Mint at West Point has shut down because of the Coronavirus.

The West Point facility mints American Eagle investment gold, silver, and platinum bullion coins.  The production halt comes at a time of surging investor demand for the gold and silver coins.

Many dealers across the country are already out of gold and silver inventory.  The are making promises to their clients about eventual delivery, but at unknown dates in the future.

Republic Monetary Exchange still has gold and silver available for immediate delivery.  But you must hurry.  Supplies are beginning to dry up.  

Officials say the West Point Mint intends to reopen eventually, but it remains closed for the foreseeable future.  The San Francisco US Mint shut down in March.

To repeat, for now, Republic Monetary Exchange still has gold and silver in inventory.  You can buy today and take delivery today!  

But the closing of the New York mint will exacerbate supply issues.  

Contact Republic Monetary Exchange today!

Consumer Prices to Double?

“We are in process of destroying the dollar.”  

So says George Reisman.  He is Professor Emeritus of Economics at Pepperdine University.  

Tweeting observations about the current economic developments, Reisman says you should “not be surprised if, a year from now, prices are 20 percent or more higher than they are today and that tens of millions of elderly people on fixed incomes suffer greatly as a result.”

“The recently enacted ‘stimulus’ legislation costing $6.2 trillion can be paid for only by the printing of new and additional money in that amount, which will represent an increase in the M1 money supply to substantially more than double its present height,” tweeted Reisman.

“This amount of increase in the money supply is sufficient by itself to double or more than double prices and totally destroy the finances of the elderly, if not by next year, then over the next few years.”

“We must not allow trillions to become the new billions, and then the new millions, and the paper dollar to become the new toilet paper,” says Professor Reisman.

We’ve Been Wondering the Same Thing!

You’ve probably noticed the “dead cat bounce” in the stock market.  

That’s a market term taken from the expression that even a dead cat will bounce if you drop it from high enough.  With America shut down, enormous amounts of capital destroyed in the process, and the chances of it returning to what things were like before increasingly remote, the term certainly applies.

We thought we would share the following from Brian Maher of The Daily Reckoning:

“It has made obvious — to all with open eyes — that the stock market is a crook’s game, a vast swindle.

“How else could the stock market regain so many of its initial pandemic losses… while 16 million Americans file unemployment claims… and second-quarter GDP may contract 40%?

“The Federal Reserve has expanded its balance sheet some $1.6 trillion these past four weeks.

“There is your answer.”

Money Supply Growth!  

And finally, the graph of the day.

This is a 10-year chart of the M2 US money supply.  M2 is a measure of cash, checking deposits, and other things that are thought to be cash-like, or near money, including money market accounts, and savings deposits.  

The money supply has been growing fast to begin with.  It doubled in the last ten years.

In fact, the chart has now turned straight up!

Doug Noland notes that “M2 has expanded more during the past six months than it did the entire nineties.”

Buckle up!  They’re printing dollars like there’s no tomorrow!

Wouldn’t it be wise to get out of dollars and into something that authorities can’t just print?