Palisades Gold Radio: Why Sound Money Matters (w/ Jim Forsythe)

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Palisades Gold Radio
Mar 24, 2022

Tom welcomes back Jim Forsythe to the show. Jim explains the purpose of “Citizens for Sound Money”. Jim discusses some of the history and the gradual disconnect from sound money during the last century. A gold-backed currency places massive constraints on government spending and forces them to spend within their means. The lack of sound money is a primary cause of much of the world’s problems.

As we print dollars many of them move overseas and by that mechanism, we export our inflation to other countries. That is slowly changing as other countries utilize their currencies to buy commodities between countries. There has been a steady policy of de-dollarization by other nations for some time.

Jim discusses the problems with the approach taken towards Russia and why the military-industrial complex has unfortunately continued to treat them as an enemy. This is not a black-and-white conflict. Western politicians are heavily invested in Ukrainian politics. We see this spilling over into virtue-signaling which is creating further division.

State-level governments are generally more representative of their population’s interests. New Hampshire is a good example of this because of the number of representatives. This makes it harder for outsiders to lobby that many politicians and those elected are more known at a local level.

He explains the importance of asset-backed digital currencies. These are backed by physical metals and it’s important these have redemption policies and audits. Many of the founders of the United States wanted what amounts to a decentralized system of finance. It encouraged competition and helped keep things honest. Today leverage ratios are completely blown out and we have a lot of dishonesty in the system.

https://www.youtube.com/watch?v=acpWwtyb3sM

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