In a compelling episode of “Commodity Culture” hosted by Jesse Day, Stefan Gleason, CEO of Money Metals Exchange and chairman of the Sound Money Defense League, provided an insightful overview of the initiatives aimed at reinstating gold and silver as constitutional money in the United States.
The interview explored various facets of the sound money movement, including legislative efforts, challenges, and the potential global impact of these endeavors.
The Sound Money Defense League Is Working to Restore Gold and Silver as Money
Question: How is the Sound Money Defense League working to restore gold and silver as money?
Gleason outlined the league’s multifaceted approach, including influencing legislation at state and federal levels, public education, and scholarships to engage youth. He highlighted their significant legislative victories, such as securing tax exemptions for gold and silver and having them recognized as legal tender in some states.
The Sound Money Index Scores All 50 States
Question: What is The Sound Money Index, and how does it help in promoting sound money principles?
Gleason introduced The Sound Money Index as a crucial tool for evaluating and ranking states based on their adherence to sound money principles. The index motivates legislators to improve their state’s standing through sound money policies, proving to be an effective driver of legislative change.
U.S. Bullying Encourages Other Nations to Embrace Gold
Question: What would it take for a gold standard to be adopted worldwide?
Gleason suggested that a devastating financial crisis might trigger a global shift towards some type of gold standard, but not due to proactive leadership. Further, U.S. financial bullying is causing other nations to accelerate their work on alternative systems to the Federal Reserve Note dollar.
Gleason speculated about the potential role of global central banks and the IMF in stabilizing their fiat currencies by including a gold reserve component. He emphasized that individuals could adopt their gold standard, highlighting the autonomy of personal financial decisions.
Blockchain: Promising Technologies Are Emerging but Business Case for Gold-Backed Cryptos is Weak
Question: Will blockchain technology play a role in restoring gold as sound money?
While recognizing blockchain’s potential, Gleason expressed skepticism about its utility as a gold-backed cryptocurrency. He noted the lack of significant success in gold-backed crypto projects so far, attributing this to a lack of demand for spending one’s gold and silver.
Central Bank Digital Currencies (CBDCs) Are a Real Threat
Question: What are the implications of Central Bank Digital Currencies for sound money principles?
Gleason shared concerns over CBDCs as potential tools for governmental control and surveillance. He discussed efforts to limit CBDC introduction in the US, highlighting federal and state legislative initiatives aimed at protecting citizens from financial oversight and control through digital currencies.
Congressman Mooney’s Questions to the Fed about Foreign Government Repatriation of Gold
Question: Why would the repatriation of gold by countries from the U.S. be significant?
This question led Gleason to discuss Congressman Alex Mooney’s inquiries to the Federal Reserve about gold repatriation. Gleason’s response underscored the importance of transparency and confidence in U.S. gold management, suggesting that repatriation actions reflect broader concerns about gold leasing, gold swaps, and other financial alchemy.
How Grassroots Involvement Can Help Sound Money Win
The interview with Stefan Gleason on “Commodity Culture” offered a thorough examination of the ongoing efforts to promote gold and silver as fundamental components of the US monetary system.
The conversation illuminated the strategic, legislative, and educational initiatives of the Sound Money Defense League, the challenges presented by technological advancements and government policies, and the geopolitical dynamics of gold repatriation.
For individuals interested in supporting sound money principles or seeking more information, Gleason recommends visiting the Sound Money Defense League and Money Metals Exchange websites and getting on their respective email lists.
These platforms provide resources for involvement and participation in the movement toward a sound monetary system, highlighting the crucial role of grassroots engagement in legislative successes.
The Sound Money Defense League was established in 2014 by Stefan Gleason. Shortly after, now-Executive Director Jp Cortez joined the team.
SMDL has since become a leading voice in sound money legislative efforts across the United States while promoting the organization’s mission of restoring gold and silver as money.
Money Metals Exchange was founded in 2010 by Stefan Gleason, Mike Gleason, and Clint Siegner. Money Metals Exchange can be found on most social media platforms, including YouTube, Facebook, Instagram, X (Twitter), TikTok, and LinkedIn.
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