Melman on Gold & Silver
June 2020 by Leonard Melman
When governments are hit by a barrage of such economic news, they usually react by attempting to stimulate economic activity by spending money, as some might say, “like drunken sailors”…
One of the most surprising jolts of the past month came with the decision of the Supreme Court upholding the legality of what has come to be known as “ObamaCare.”
This is welcome news. Many silver market commentators have stated publicly that the price of silver, currently hovering around $23.50 per ounce, should be much higher due to the scarcity of supply and the lack of faith in fiat currencies such as the US Dollar.
Legislation to allow the Idaho treasurer to invest in gold and silver that must be physically stored in Idaho is headed to the full House.
On a similar vein, while the number of new non-farm jobs created rose by a modest 156,000 in September, it must be pointed out that Goods Production Payrolls rose by only 10,000 jobs while much lower paying service jobs accounted for the other 146,000.
Another area of growing international concern for business and industry is the recent astonishing proliferation of new government regulations and laws. Despite the presumably good intentions behind these measures it is now becoming apparent that they are imposing true costs to our economic society. The sheer variety of these laws and regulations is mind-boggling.
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