A similar disconnect reveals itself on the subject of crime. For months, the White House and the mainstream media have been citing FBI statistics that purport to show the crime rate is coming down.

Crime isn’t, in fact, going down. It turns out the FBI’s numbers were phony from the beginning.

The Bureau had initially reported there was a 2.1% drop in violent crimes in 2022. But after a revision to the data set, it admitted in a September 2024 press release that there was actually a 4.5% increase!

As John R. Lott of the Crime Prevention Research Center documents, even this reported increase in crime masks the true extent of it. That’s because an increasing number of crimes are going unreported and unprosecuted.

In some jurisdictions, entire categories of crime (such as thefts below a certain dollar threshold) are effectively being ignored by law enforcement.

Owners of physical precious metals should take care to keep quiet about their holdings. They should also realize that a typical home safe doesn’t actually offer much protection from a burglar armed with basic tools such as a crowbar and drill.

Last week, the Commodity Futures Trading Commission announced it has obtained a judgment in federal court against a predatory firm called Regal Assets:

Regal Assets solicited customers to transfer funds primarily from their tax-deferred retirement accounts to purchase precious metals from Regal Assets through self-directed IRAs. Rather than using all of the customers’ funds to purchase precious metals, the defendants misappropriated more than $21 million from more than 120 customers.

Your best protection against getting fleeced when buying precious metals is to ignore the slick pitches that sound too good to be true. For safety, avoid doing business with dealers who advertise on cable TV using celebrity spokesmen.

Stick with bullion-focused dealers who have built up a reputation for stellar customer service and exhibit a genuine commitment to sound money principles.

This week’s Market Update was authored by Money Metals President Stefan Gleason.

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