The Silver Bloc last week chalked up another victory over the U.S. taxpayer. After two months of wrangling, it finally got a bill through Congress, boosting the price of silver from 71.1¢ to 90.5¢ an ounce. Who will pay the 19.4¢ increase? The same people who have been paying the freight ever since silver was jacked up from 44¢the taxpayer and U.S. manufacturer.
Under the Silver Purchase Act of 1934, the Treasury must buy silver until its holdings equal 25% of federal monetary reserves, or until the price reaches $1.29 an ounce. But the Treasury has been able to sell silver...
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