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NIA Offers Comments On Economy, Taxes And Gold

June 7, 2010 by  

NIA offers comments on economy, taxes and goldThe National Inflation Association (NIA) recently discussed the top 10 most interesting questions it believes are on the minds of many Americans who struggle with high taxes, rising costs of living and falling asset values.

First, NIA representatives sought to dispel the myth that had it not been for the stimulus package the United States economy would have crashed. Rather, the package actually stifled the economy because it forced the nation to go deeper into debt.

Moreover, the jobs that were created were temporary, and the government will need to print money to pay the debt back, which will ultimately lead to hyperinflation.

NIA also believes that given the extent of the debt and the current level of taxation, introducing even higher taxes will not help pay the debt off. Instead, these lingering domestic and foreign obligations will only contribute to inflation.

That is why the organization reiterated its support for precious metals, and provided advice regarding a good price for silver and gold for those interested in converting their dollars into a more secure store of value.

It said that a good price for a 1 ounce silver coin like an American Eagle or Canadian Maple Leaf is 12 percent over spot, and a good price for a 1 ounce silver bar is 6 percent over spot.

For gold, a good price for a 1 ounce gold coin like an American Eagle or Canadian Maple Leaf is 4 percent over spot, while for a 1 ounce gold bar it is 2 percent over spot.ADNFCR-1961-ID-19816935-ADNFCR

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