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Dear Fellow Investor,
If you’ve ever discussed solutions to the problems of the world over drinks with me, you know that I’m passionate about a few issues.
One of these is the global fiat monetary system that robs everyday citizens through inflation...while enriching those insiders able to game the system.
Not many people are worried about this right now. Measured inflation is low and central banks are actually trying their level best to stoke the fire under prices.
Those of us with long memories and an appreciation of Austrian economics understand, however, that there’s a locomotive heading down the tracks toward us.
The federal debt, built by decades of unrestrained spending and now accelerating higher due to record-low interest rates, is far beyond levels that can be managed. The inevitable result: A complete monetary reset, including a dramatic devaluation of the dollar.
Once again, the real victims will be ordinary American citizens forced to hold their savings in dollars, and unable to hold gold because of legal tender laws and high tax rates.
A New Monetary System That Would Solve Everything
As I say, it doesn’t take much to start me pounding the table about this issue.
I was triggered to do so again earlier this week when the Wall Street Journal’s editorial page published a commentary entitled “Trump and Money.” It essentially argues for the U.S. to lead the world toward a more-stable currency system.
To their credit, they suggested that the Trump administration consult some long-standing experts on monetary issues, including some advocates of free markets, gold and/or friends of the New Orleans Investment Conference, including Steve Hanke, Judy Shelton and Lewis Lehrman.
But the thrust of the Journal’s proposal is a revamp of the current system of free-floating fiat currency values, one that essentially forces the major currencies to trade within valuation bands. In other words, doubling down on what hasn’t worked before.
They mention gold only in passing and merely in a historical context, but it was still enough to prompt me to fire off a letter recommending my own ideas for a new monetary system.
The chances that they’ll print my missive are slim, so I thought I’d share the gist of my letter with you:
“I fear that cause [a more-stable currency system] is lost before it might begin, as decades of unbridled debt build-up among global economies necessitates, by simple arithmetic, an increasingly rapid devaluation of fiat currencies to reduce the burden of these crushing debts.
“Add in the fact that inevitable booms are no longer allowed to cycle through corrective busts, but are instead cushioned by floods of liquidity that only lead to the next bubbles, and you have a recipe for continued currency debasement as far as the eye can see.
“In short, it’s hard to maintain stability when you and all your partners are bouncing down a hill.
“A classical gold standard is no longer a practical solution to this conundrum, as central banks and finance authorities will never give up the monetary control they’ve maneuvered for decades to obtain. However, a more-elegant solution might be found in a hybrid system in which gold is freed from all taxation and allowed to circulate as money in parallel with the fiat dollar (with vendors not allowed to prefer one over the other).
“Of course, as Gresham’s Law holds, consumers would hoard their gold and use the less-regarded dollar as currency in their daily transactions. The end result: Fed and Treasury economists could still pull monetary levers to their hearts’ content, providing dollar liquidity whenever and however they believe it’s needed. But American citizens would be protected from the inflationary consequences without the government perversely collecting tributes from the problem it created.
“Putting aside the argument that this right is already enshrined in the Constitution, is there really a valid reason at this point to withhold this choice from American citizens?”
As I say, I’m passionate about this issue. Our organization, under the brilliant leadership of Jim Blanchard, was instrumental in getting gold legalized again in the early 1970s, just in time to protect Americans from an inflationary onslaught.
I think the goal of making gold legal tender once again — in parallel to and in competition with the dollar — is the next natural step for us to take.
I’m eager to put the relatively high profiles of the New Orleans Investment Conference and Gold Newsletter to work promoting this concept, but frankly I have no experience in launching foundations or other non-profits to advocate for such causes. (None of my non-profit ventures have been so by intention.)
I’m open to any suggestions on how we might advance this cause, so please send any ideas you may have to us at admin@jeffersoncompanies.com.
More Big News On The New Orleans Conference
I just got off the phone with Guy Adami, in my opinion one of the smartest and most personable market commentators on CNBC. I’m pleased to say that we’ve signed Guy up as yet another featured speaker for New Orleans 2018.
I’m a big fan of Guy’s, admiring how he can pull off a Joe Six-Pack demeanor yet still come out with some of the most insightful views of anyone on the network. The fact that he seems to be a gold bug certainly contributes to my positive view of him.
I can tell you that Guy’s regular-guy (pardon the pun) approach is no schtick — he called me out of the blue to say how excited he was to participate, how impressed he was with our history and agenda for this year, and wondering how he can help us get the word out on the event.
We’d been working with Guy’s agent to get him signed up, as we do with most of our celebrity speakers. I can say that in well over three decades of working with our speakers, I can’t remember another of these big-name celebrities calling us up unprompted.
I’ve got a great feeling that Guy Adami is going to become another one of our audience’s favorite speakers.
In other news, I’m happy to say that liberal firebrand James Carville has agreed to participate in our special Charles Krauthammer memorial panel, along with Jonah Goldberg, Charles’ long-time personal assistant Jason Smith and myself.
As long-time attendees will remember, James Carville has been a big hit at our previous events, including sharing the stage with Charles on our political panels. Many — dare I say most — of our attendees disagree with James’ political views, but they never fail to enjoy his heart-felt presentations.
I think he’s a fabulous addition to a special panel that will be memorable for all of us.
As I’ve noted before, we’ve signed up some spectacular geopolitical presenters for this year, including Jonah Goldberg (who really wowed our audience last year) and Mark Steyn (who’s one of the most entertaining presenters we’ve ever featured).
And of course, we’re welcoming Robert Kiyosaki back. He’s so excited about returning that he’s developing a special treat for us in his presentation this year.
We’ve also signed up James Grant, Dennis Gartman, Peter Schiff, Rick Rule, Doug Casey, Chris Martenson and Adam Taggart (of Peak Prosperity) and more, including all of the top newsletter writers focused on metals and mining.
We’re also very happy to report that Money Map Press, one of the world’s most respected and successful financial publishers, is joining as the Publishing Sponsor of New Orleans 2018. As part of their sponsorship, we’ve been able to lock up some of their top experts to speak, including Keith Fitz-Gerald, Sean Levine and Matt Warder.
Each of these gentlemen have tremendous track records and huge followings. I’m confident that they’re going to bring superb value — along with a lot of their readers — to this year’s event.
We’re adding even more top experts to New Orleans 2018 over the weeks to come, but don’t wait — you’ll want to reserve your place right now.
Why? For one thing, we expect to run the risk, once again, of selling out our room block in our convenient host hotel. (This risk is going to rise significantly very soon, once Money Map Press starts publicizing New Orleans 2018 to their massive readership.)
Second, if you register right now, you’ll save $400 from the full registration fee.
And finally, as a Golden Opportunities reader you’ll enjoy a free upgrade to Gold Club status...if you act before this limited-time offer closes. Gold Club status is a $189 value, providing special reports, access and other valuable benefits.
But you’ll get this elite status for free, and save $400, if you lock in your registration right now.
Just CLICK HERE to learn more and make sure you don’t miss out.
All the best,
Brien Lundin
Editor, Gold Newsletter
CEO, the New Orleans Investment Conference
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