Political Quotes

“Mr. Speaker, this is simple legislation, as Mr. Gutierrez has said, that directs the creation of an investment-grade coin of palladium made available to those who seek to invest in precious metals as a hedge against inflation. I'm happy to be a sponsor of this bill, along with Mr. Gutierrez, the chairman of the Domestic and International Monetary Policy, Trade, and Technology Subcommittee that I once chaired. With the spike in value of precious metals, investors who recently may have bought gold to put in IRAs have nothing in the standard 1-ounce size investor coin between $18 or so and about $1,000, with gold having jumped in the last couple of years from maybe $400 an ounce to more than $900. Palladium, known as the fourth precious metal and approved as an investment vehicle by Congress a decade ago, along with gold, silver and platinum, would fill that gap. Palladium is also mined in quantity in the United States. I'm told that more than 400 people work in the Palladium mine in Montana. Mr. Speaker, investors do want a choice in their precious metals. And while gold may always be king, if the Mint is going to have a bullion program, it needs to present alternatives.”