“The gap is missing.”
That’s the enigmatic way the U.S. Mint puts it. “When this inventory is exhausted, no additional inventory will be produced,” the mint added in a rather harsh, nonsensical tone. In short, what the government agency is calling for is the confusing fact that it has given up trying to meet today’s record consumer demand for Eagle’s own gold coins.
This is, or at least should be, disturbing news. Especially at a time when we should trust the government enough to put it in full control of key health and energy aspects of our personal lives, Washington now seems to completely ruin a simple case of supply and demand. With wild consumer demand for their – wait for it –mega successful products (Gold Eagles), the Mint now blames its three suppliers for not providing it with enough gold blanks … even as they procrastinate not providing those suppliers with enough crude gold and silver metal to make blanks at all.
In Orwellian vocabulary, this is another unfortunate case of government “double thinking”.
Lack of competition in our money?
Why the government appears to be sabotaging one of its few successful commercial enterprises is questionable to say the least.
Perhaps the Mint has become overly politicized and now refuses to further embarrass the U.S. dollar, which has fallen with its record gold sales. Sure, gold is rare – that makes it so valuable – but this is the US government we’re talking about: it should have no problem getting the gold it needs for its coins, even with some kind of payment – go base.
Perhaps Washington is not interested in stirring up controversy over “competing currencies”.
According to New American“…our nation once had competing currencies and this competition has led to honesty in the field of money. “
“…the government did not have a monopoly on coinage. As a result, the nation has progressed, as it always does when there is healthy money. But today, the only legal money is fiat money issued by the Federal Reserve, which is considered money by law. Its value continues to decline as there is virtually no limit to how much can be issued. If our country were to the gold or silver standard, inflating the supply of these precious metals would be impossible. “
Could this be the reason why the current government feels it is a victim of its own success with its popular Eagles? Are Mint officials now brainstorming, in the age of taxpayers, wondering how they can inject a firm measure of failure into its successful gold coin program?
Cure Ron Paul and Washington’s Bizarro World
Congressman and former presidential candidate Ron Paul has big problems with the Federal Reserve and the way our monetary system is run.
In particular, his two laws, the Free Currency Competition Act and the Fed’s Revision: HR 1207, aim to give up the reckoning with the dollar which, due to the trillions Washington has thrown around in recent years, is sinking rapidly. in value. Congressman Paul’s healthy idea about money is this …
“This medium of exchange should satisfy certain properties: to be durable, ie not to be easily worn, to be portable, ie to be easily transferred, to be divided into units that can be used for everyday transactions. ; it should be recognizable and uniform, so that one unit of money has the same properties as any other unit; it should be scarce, in economic terms, so that the existing supply does not meet the needs of all those who seek it; be stable so that the value of its purchasing power does not fluctuate sharply; and should be reproducible so that enough units of money can be created to meet the needs of the exchange.
“Over the millennia of human history, gold and silver have been the two metals that have most often met these conditions, survived the market process and gained the trust of billions of people.”
Going back to that new American article, “The Texas legislature also makes a realistic claim that a return to competition in money would lead to the end of inflation, even to the end of unconstitutional wars financed by Fed banknotes. Deficit spending on a number of other unconstitutional programs would also be eliminated. “
In the free market economy, the principle of supply and demand prevails. Entrepreneurs first learn what demand is, and then figure out how to offer it. With Washington and the Mint, however, the opposite seems to be the case. Once demand begins to rage in this case, government bureaucrats withdraw and make great efforts to cut off supplies.
As Seinfeld might say, that’s the way business is run at Bizarro World (Superman Comics).
Fortunately, Mint’s Gold Eagles aren’t the only game in town. There are other popular and available gold coins such as Canadian maple leaves and Australian and British sovereigns. There are also semi-numismatic and numismatic American gold coins such as St. Gaudens and Liberty from $ 20. Visit a reputable coin dealer, such as my Lear Capital, to understand the difference.