The Gold Standard
“Since we’ve gone off the gold standard this country has gone downhill. We used to have to earn our productivity but afterward, we could print as much money as we wanted. The gold standard held our feet to the fire always. Since then- money has replaced growth.”
The Real Crisis Is Resource Scarcity not Climate Change
Stephen discusses the difficulties the world is facing and the need to shift gears to a better world. It’s quite hard to sort the misinformation from the truth at this time.
The damage that has been done by sanctioning Russia has impacted Europe and the rest of the world. It’s resource scarcity, not climate change that is damaging economies. The crisis we have created in ourselves this country and investors need to protect themselves with gold. Problems are coming that may not be easily solved.
Stephen compares the United States’ actions around the Cuban Missile Crisis to what is occurring between Russia and Ukraine. Stephen discusses the importance of rare earth metals and the unfortunate reliance of the United States on other countries for various natural resources. In the 1990’s we were the only place to get and process rare earths but we sold everything to China under Clinton.
Our military could lose all functionality should we lose access to these metals. This country has lost much of its capabilities. He proposes some possible explanations for why China has been locking down and limiting Shanghai’s port activity. Food and energy are becoming an existential crisis. Ukraine has the best soil and above all, we need cooperation and technological development.
Time Stamp References:
0:00 – Introduction
1:37 – Finding the Truth
5:27 – Russian Ruble
12:12 – Need to Cooperate
17:00 – A Catastrophic Mistake
23:58 – Equity Thoughts
24:30 – U.S. Research & China
30:12 – Get Into Real Assets
33:00 – Fixing the U.S.
36:17 – U.S. Military Problems
38:55 – China Lockdowns?
1:01:20 – Think For Yourself
1:03:12 – Wrap Up
Talking Points From This Episode:
- Discerning truth in a world of propaganda.
- Sanctions backfiring and existential global risks.
- Commodity dependency on other nations and the risks involved.
