Silver American Eagle and Gold

When I returned home from my mini-vacation to Monument Valley last week, waiting for me in my post office box was the 2022 Silver American Eagle that I ordered the previous week.

Since Bidenflation has eaten away our purchasing power, it is prudent to invest in precious metals such as gold and silver.

Gold is much too pricey, but silver is affordable at roughly (spot price) $18.48 per ounce. 

I generally go for Morgan dollars, but I haven't seen any deals that would entice me lately.

Here's the 2022 Silver American Eagle:

Speaking of precious metals, a bill has been introduced in congress to put our currency back on the gold standard. 

"Gold Standard Restoration Act" Introduced In Congress

Above, the Fort Knox set from Goldfinger (1964). Eon Productions/United Artists.

From Kitco News:

(Kitco News) - One American politician proposes bringing stability back to the U.S. economy and its currency by introducing a new gold standard.

Last week, U.S. House Representative Alex Mooney (R-WV) introduced the Gold Standard Restoration Act. The bill looks to peg the U.S. dollar to gold to address the growing inflation threat, massive deficit spending and instability within the U.S. monetary system.

"The gold standard would protect against Washington's irresponsible spending habits and the creation of money out of thin air," said Rep. Mooney in a statement.

"Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would our economy be at the mercy of the Federal Reserve and reckless Washington spenders," Mooney added.

The bill noted that the dollar, referred to as the Federal Reserve note, has lost more than 30% of its purchasing power since 2000. At the same time, the U.S. has lost 97% of its purchasing power since the Federal Reserve Act was passed by congress in 1913.

The proposed legislation would require the Federal Reserve and the U.S. Treasury to disclose all records pertaining to the government's gold reserves and gold-related transactions over the last 60 years.

The bill has a "snowball's chance in hell" of passage, but at least someone is bringing awareness about how worthless our currency is and what should be done about it. 

To read more, go here.