By Money Metals News Service

A major national precious metals dealer announced today the creation of the first gold-backed scholarship fund to support outstanding students who understand that gold is money and can articulate the failures of the inflation-creating Federal Reserve System.

Money Metals Exchange, a national precious metals dealer recently ranked “Best in the USA,” teamed up with the Sound Money Defense League, setting aside 100 oz of physical gold, currently worth $135,000, to help outstanding students pay for ever-rising education costs.

“The Federal Reserve’s inflationary policies have jacked up education costs, and our company is proud to help students who understand this problem as they cope with this unfolding disaster,” said Stefan Gleason, president of Money Metals Exchange. “Because of abusive and ongoing devaluation of the Federal Reserve Note, we expect the gold that we have set aside to fund the scholarship program will grow in nominal value dramatically over time.”

This scholarship will be open to high school seniors, undergraduate students, and graduate students with an interest in economics, specifically the tradition of the Austrian school. However, one does not have to be an economics major to apply.

The ongoing devaluation of the Federal Reserve Note “dollar” pushes up the nominal prices of assets, goods, and services across America. Central planners have further contributed to the problem of skyrocketing education costs through easy access to government-subsidized loans which are usually awarded regardless of merit or creditworthiness. Colleges and universities can spend frivolously and raise their tuition costs aggressively.  Meanwhile, students frequently leave college with debt that exceeds a home mortgage.

Essays will be reviewed by a blue ribbon committee of professors, economists, and executives of Money Metals Exchange and Sound Money Defense League. The panel will select two (2) undergraduate winners and two (2) graduate winners. All four (4) articles will be published on one or both organizations’ websites. The four (4) winners will also have the opportunity to win the People’s Choice Award which goes to the student whose article attracts the most interest from social media (Facebook, Twitter).

Jp Cortez, Assistant Director of Sound Money Defense League, said, “We want to identify, recognize, and reward students who demonstrate a deep understanding of economics and monetary policy. Continuing one’s education gets more expensive by the day, so we hope our scholarship program will help ease the financial burden of students imposed by the Federal Reserve’s deliberately inflationary policies.”

The deadline for applications is November 1, 2016. For more information, visit moneymetals.com/scholarship or email [email protected].

The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.