Daily Archives: 05/22/2020

Sound Money Defense League Working to Bring Back Gold and Silver as America’s Constitutional Money

In a Nutshell: The Federal Reserve instituted a policy of unlimited quantitative easing in March 2020 in response to the COVID-19 pandemic, in effect injecting trillions of dollars into the economy. But some analysts believe the consequences of that action may not be limited to stimulus checks and paycheck protection. According to Stefan Gleason, Director of the Sound Money Defense League, the Fed’s pandemic response is only the most recent manifestation of a long-standing inflationary monetary policy enabled by unbacked fiat currency.

Gold price up as US-China tension builds

Gold rebounded on Friday as ongoing concerns about the economic fallout of the covid-19 pandemic were compounded by fears of rising political tensions between China and the US.googletag.

Spot gold rose 0.4% to $1,733.55 per ounce by 12:20 pm EST Friday, after falling 1.4% in the previous trading day. Gold futures rose 0.8% to $1,736.20.

On Thursday, the Chinese government announced its intention to impose a national security law that criminalizes political dissent in the city of Hong Kong, which could fuel further protests and escalate the ongoing US-China spat over the source of the coronavirus.