Gold is Becoming a Dirty Word

www.armstrongeconomics.com

When Louisiana became the first State to wage war on CASH enacting a law, called R.S. 37:1866, the politicians made it illegal to go to a garage sale and buy anything with cash dollars. They used the excuse that selling used goods for cash enabled criminal to sell what they stole. This would have been true since Biblical days. The politicians also made it illegal to exchange cash dollars for gold or any precious metals. This, of course, is exactly what France has done and I reported on my trip to Spain I could not fine anyone selling gold coins publicly because of required regulations – no cash accepted.

The war on cash includes the war on gold. You can no longer hop on a plane with a suitcase full of gold. This is the hunt for taxes and the drive to eliminate cash is to eliminate also gold transactions in cash. You may not be able to conduct business in gold in a cashless society and they will make it illegal to use things like Bitcoin as well as France is already looking at regulating that. This is the coming Winter of Economics – the age of authoritarianism – a world I really do not want to live in.

Sorry if our forecasting is boring. Nothing has changed. Still looking for the break below $1,000 and for timing, that remains also unchanged. The two Benchmark Targets remain the focus. It may yet be the second target rather than the first.