Good Morning. Today is March 25, 2023.

This is the Bullion Baron, the weekly newsletter that serves up the best of precious metal investing advice so your future self thanks your present self, Back to the Future style.

Here’s what we got for you today:

1. US on the doorstep of WWIII

2. Wall street/Big Banks fail to reduce key concerns

3. Gold and silver as legal tender: UT, WY, OK

The Baron's Investment Forecast

Link to forecast methodology.

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WWIII - Tensions escalate

What's happening? 1: A Russian Fighter Jet dumps fuel and strikes a US Drone over international airspace, forcing a crash landing. See the video here. #2: Poland is sending warplanes to Ukraine. See the story here. #3: China and Russia relations are at their strongest and continue to grow. See the story here. #4 Former president Donald Trump said that WWIII is imminent and we are at the most dangerous time in the world's history. See the story here. Russia is flying armed jets over Syrian airspace in violation of an international agreement. The story is here. Iranian backed groups kill a US contractor and wound US service members in Syria. See the story here.

How does this impact me? From an investment standpoint, wars have an extremely volatile impact on the stock market and even traditionally stable real estate. Investors will flock to a stable investment like precious metals should the US be drawn into an international conflict. Many question how steady Joe Biden's trigger finger really is. Tensions continue to rise.

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Key banks step in to guarantee deposits, an action that fails to alleviate consumer fear.

11 top banks step in and pledge 30B into First Republic Bank, an effort to prevent another Silicon Valley Bank type collapse. While Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, FDIC Chair Martin Gruenberg and Acting Comptroller of the Currency Michael Hsu were quick to claim this move as a victory, careful investors remain wary.

This story is all over the news, but one report is here. This story is rapidly evolving, stay glued.

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States where gold and silver are legal tender

According to the US Constitution, states have the authority to recognize gold and silver as legal tender for debt payment/repayment. See Article 1, Section 10, Clause 1. "...make any Thing but gold and silver Coin a Tender in Payment of Debts"

Utah:

In 2011, the Utah Legal Tender Act passed, which acknowledges gold and silver coins, issued by the federal government, as legal tender in Utah. This exempts folks from certain state tax liabilities. Utah became the first state in recent history to officially recognize gold and silver as legal tender.

Wyoming:

Wyoming followed Utah's lead in 2018 with House Bill 103, which recognizes coins with gold or silver content for us as tender. Also recognized as tender is refined gold or silver bullion that is stamped with its weight and purity.

Oklahoma:

Oklahoma passed Senate Bill 862 in 2014, which recognizes gold and silver coins issued by the US government as legal tender in their state. The bill specifies that no person can compel another person to accept such coins except as agreed upon by contract.

While several other states as of 2023 do not yet explicitly recognize gold and silver as legal tender for payment of debts, many have laws that exempt gold and silver bullion (and in some cases, platinum and palladium bullion) from taxes. Many have begun the process of recognizing gold as legal tender, such as Texas and Louisiana.

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Do you remember when?

Every week we try to add a little fun or nostalgia into your day. Here's what we got:

"Plop, plop, fizz, fizz, oh what a relief it is! Plop, plop, fizz, fizz, oh what a relief it is! Ah, those bubbles relieve your acid indigestion and heartburn fast, and for a headache too, get fast relief. Alka-Seltzer, plop, plop, fizz, fizz, oh what a relief it is!"

On this day in history:

1957: The musical movie "Jailhouse Rock," starring Elvis Presley, premiered in Memphis, Tennessee. Even though this was Elvis’ third movie it was considered his most popular and likely locked in his legendary status as an icon. The songs featured in the film included, “Jailhouse Rock,” and “Treat me Nice”.

1945: The United States Army's 10th Mountain division captures the Italian town of Mount Belvedere. This was a key win agains Germany as it opened up major supply routes to troops in the reunion. This division was specially trained in skiing and mountain skills allowing them to outflank the Germans. This capture is considered the turning point in Allies' eventual victory in Italy during WWII.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.