Things to Be Thankful For | The Gold Standard #2122

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Today, we take the ability to own gold and silver coins and bullion for granted. It’s easy to assume that we have always had the right to buy and sell gold, but that’s not the case. When World War 1 erupted, the US and European countries suspended the gold standard to print enough money to pay for military expenses. Three years into the Great Depression, hard times made gold-owning citizens hoard their precious metal holdings, which stalled economic growth and worsened the depression. President Franklin Roosevelt issued Executive Order 6102, which revoked the further use of gold coins in circulation and demanded all citizens to surrender their gold to the government. Gold owners received $20.67 per ounce.

It wasn’t until 1974, when President Gerald Ford signed legislation permitting the ownership of gold, that people could buy and own gold again. Being grateful for our rights in this country fortifies our appreciation for them. It also makes us good stewards of the US Constitution and all we hold dear about being Americans. Think of Benjamin Franklin, as he leaves the Constitutional Convention being asked, “What kind of government did you leave us?” He answers, “A republic if you can keep it.” Being thankful for something is foundational to taking care of it.

Thomas Jefferson stressed knowledge as a keystone to self-governance. That democracy and education are interdependent. Jefferson is remembered uncritically for his ardent support for an educated public as a bastion against the encroachment of an overzealous government. The Gold Standard’s mission is to educate people about the importance of diversifying with precious metals like gold and silver and how owning gold and silver can protect buying power during times of economic uncertainty.

Federal Reserve to Start Withdrawing Emergency Support for the Economy
Ken Russo, VP of the Midas Gold Group, points out that the Federal Reserve has “definitely propped up the economies of the world. When it comes down, it’s going to come down like a house of cards.”

There have been many manias throughout history. There was the Tulip mania in the sixteen hundreds, a bicycle mania in Britain during the seventeen hundreds, and, more recently, the Dotcom mania in 1999.

Today, similar to the Roaring Twenties that led to the Great Depression, we are swept away by the joyride, there’s a great deal of speculation and gambling, but eventually, that’s going to end. When it does end, it’s going to be devastating for those who didn’t prepare.

The featured bullion product for this episode is the prestigious and beautiful American Gold Eagle. This iconic bullion coin took the world by storm when it first appeared on the market in 1986 and continues to be the world’s most popular and highly regarded gold bullion coin.

The new 2021 American Gold Eagle is a product of the Mint’s Artistic Infusion Program (AIP). It features a close-up profile of a Bald Eagle designed by artist Jennie Norris and sculpted by the Mint’s Medallic Artist Renata Gordon. The coin’s obverse resurrects Augustus Saint-Gaudens’s full-length sculpture of Lady Liberty from the Saint-Gaudens Double Eagle ($20 gold coin) series from 1907 to 1933. Combining history with modern influences, the reverse of the coin has designs by contemporary artists. The American Gold Eagles from 1986 to 2021 have a reverse design by Miley Busiek that shows a male eagle carrying an olive branch flying to a nest where a mother eagle protects her young.

A former volunteer raptor handler, Miss Norris drew inspiration for her design from an appreciation for and deep connection with wildlife. When talking about the American Bald Eagle, she says, “The American Eagle is such a noble bird. I was hoping o capture the intensity of his stare through the close cropping (of the composition). His gaze speaks of pride and wisdom passed down through generations of time.”
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