Jim Forsythe: Why Sound Money Matters
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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.
Time Stamp References:
0:00 - Introduction
0:40 - Citizens for Sound Money
1:50 - 1913, 1971 & Fiat Systems
5:42 - Gold Backed Money & Morality
10:24 - Russia Sanctions & Inflation
18:10 - Constitutional Money
23:09 - State-Level Politics
28:20 - Asset-Backed D.C.
34:47 - Terms & Conditions
44:10 - Concluding Thoughts
45:55 - Premiums
47:26 - Wrap Up
Talking Points From This Episode
- The importance of having sound money.
- Inflation, money printing, and more supply problems from sanctions.
- Why state-level government is generally more representative.
- Importance of asset-backed digital currencies.
Guest Links:
Website: https://citizens4soundmoney.org
Twitter: https://twitter.com/JimForsythe5
Twitter: https://twitter.com/4SoundMoney
Reddit User: https://www.reddit.com/user/Forsytjr2
Reddit Group: https://www.reddit.com/r/Wallstreetsilver/
Jim Forsythe is a Cornell graduate who studied Russian and Engineering (B.S., M.Eng) and visited the Soviet Union in '84 and '86. His visits to the Communist country cemented his strong belief in free markets. Jim flew KC-135s in the Air Force and taught at the Air Force Academy after receiving his Ph.D. in Aerospace Engineering. He was a small business owner in New Hampshire after leaving the Air Force.
After campaigning for Ron Paul for the 2008 election, he was elected to N.H. Senate, and as a prime sponsor, passed Education Tax Credits and Medical Marijuana. In the 2012 election, he served as N.H. Campaign Chair for Dr. Paul. He has been a precious metal and mining investor since 2007 and is a member of the Reddit Wallstreet silver sub and an active participant in #silversqueeze and #SilverIsMoney on Twitter.
#JimForsythe #SoundMoney #Silver #Gold #ABDC #Money #Inflation #Russia #Currencies #GoldStandard
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