Alabama Abolishes Income Taxes on Gold and Silver

Alabama Governor Kay Ivey signed a bill on May 17 that removes all income taxes on capital gains from the sale of gold and silver, enabling the state to take an important step forward in reinforcing sound money principles.

With this move, Alabama joins a growing number of states prioritizing the protection of citizens against the deleterious effects of inflation, currency debasement, and mounting federal debt.

Gold Prices Rise as the Dollar Slowly Dies

The money supply is rising again, and persistent price inflation is not a surprise. Price inflation occurs when the amount of currency increases significantly above private sector demand. For investors, the worst decision in this environment of monetary destruction is to invest in sovereign bonds and keep cash. The government’s destruction of the purchasing power of the currency is a policy, not a coincidence.

Readers ask me why the government would be interested in eroding the purchasing power of the currency they issue. It is remarkably simple.