New York City mayor declares war on gold

By Jp Cortez Money Metals News Service, Eagle, Idaho Monday, April 6, 2026 On the heels of a credit outlook downgrade for New York City, Mayor Zohran Mamdani and the state legislature have just declared war on the financial center's vibrant gold bullion market. Global credit ratings agency Moody’s dropped the Big Apple’s outlook from “stable” to “negative,” releasing a statement: https://ratings.moodys.com/ratings-news/461132?tblci=GiBCjHQ-g4lxl5bTeW9Tq6pFf3ARAsIeWPSEiZysA3VVbiDKuWUombXc9sm3yKOwATCf214 The outlook change to negative reflects New York City's updated spending projections, which give rise to larger multi-year budget gaps than previously forecast.  ... Dispatch continues below ... ... ADVERTISEMENT ... Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico Guanajuato Silver is a precious metals producer reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo Mines Complex, Valenciana Mines Complex, and the San Ignacio mine. All three mines are located within the state of Guanajuato, which has a 480-year mining history. Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango state.  With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico. For more information, please visit: http://www.gsilver.com/ That the city projects large and persistent imbalances under still-favorable economic and revenue conditions highlights the extent of its underlying structural budget challenges. Mayor Mamdani called the outlook adjustment "premature" and cited $5 billion in additional funding through legislation under consideration in the chambers of the New York State legislature as a "real commitment to ensuring that we can bridge this inherited fiscal deficit. ..." Among revenue-collection ideas proposed by Mamdani's office is a new tax on investment-grade gold and silver bars, and coins and rounds as well. Since 1989 all purchases of precious metals above $1,000 have been exempt from state sales tax. This exemption does not apply to numismatic items whose value is dependent on rarity or collectability, or used for artistic purposes. ... ... For the remainder of the report: https://www.moneymetals.com/news/2026/04/06/mayor-mamdani-has-declared-war-on-gold-004817 * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png