Editors at the New York Sun featured the 2024 Sound Money Index in a recent article. Hard currency is currently hamstrung by heavy taxation and regulation.
To restore sound money, several states have enacted legislation to remove the barriers to citizens, and states themselves, investing and saving in historically proven inflation hedges.
Read a portion of the article below:
-------
Just as we were set to mark our national debt crossing $34 trillion the Mises Institute sends a note steering its fans to the Sound Money Index, ranking the states by the degree to which they provide an environment for honest money.
The index, produced by the Sound Money Defense League and Money Metals Exchange, records that the classical monetary metals, gold and silver, discover the value of fiat currencies like the dollar, not the other way around.
“Gold and silver are money,” the index notes, “not by government decree, but because they have proven to be over the test of time, by maintaining their value.”
That insight is underscored, as the 2024 index is released, by the fact that the fiat dollar is flirting with an all-time low versus gold. On the last trading day of 2023, the Wall Street Journal observes, the dollar fetched in futures markets but a 2,062nd of an ounce of gold — a fall for the year of 13 percent.
Over the long run the dollar’s collapse has been even more precipitous. It’s been a downhill plunge since President Nixon in 1971 severed the greenback’s last link to the gold standard.
To read the full article, visit the New York Sun.
Img credit: New York Sun
