Sound Money Still Matters

by Peter C. Earle
The American Institute for Economic Research

Let the record reflect: sound money still matters. The tremendous fiscal, monetary, and social interventions throughout 2021, in addition to what appears to be the long-posited return of inflation, are fueling a resurgence of interest in gold and silver. Cryptocurrencies, farmland, and less conventional hedges have led the way, but a handful of developments suggest that the “barbarous relic” and its cousins are returning to mainstream attention.

Most recently, the State of Tennessee announced that it is considering setting up a gold depository. On Wednesday, June 2nd, the two measures (House Bill 353 and Senate Bill 279) passed unanimously through their respective committees with voting tallies of 90-0 and 32-0. A report on the feasibility of doing so, as well as steps which would be required, is due on or before 1 January 2022.

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