The dollar is failing. Millions of people can see at least some of the major signs, such as the collapse of interest rates, record high number of people not counted in the workforce, and debt rising from already-unpayable levels at an accelerating rate.
I am going to share a little bit about myself and my personal motivation. I want to help fix this problem. The alternative, if it’s not fixed, will be a repeat not of 2008 or the inflation of the 1970’s or 1929. It will be a repeat of 476AD, the collapse of Rome and the known world.
If it weren’t for this, I would have started another software company. I had a successful exit, a world class team that was ready to jump into the next gig with me, great advisors, and access to capital. And this was the career for which I had trained, and which I was pretty good at.
Instead, I studied monetary economics and started Monetary Metals.
We are on a mission. It is not simply to sell people on gold. When Rome collapsed, I suppose people who had gold may have had a better chance to escape, than those who didn’t. But where would they go, and how would they survive in a world gone mad? Some problems, gold does not solve.
It is not simply to preach that we need the gold standard. If Mises did not persuade people, then I don’t expect to be successful at the same task.
I think often about that (in)famous quote from archenemy John Maynard Keynes about debauching the currency to overthrow the capitalist order. And the key sentence is:
“The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
He was right. He understood the system and how to destroy it better than everyone else. He was a genius—evil, but a genius. Except he overestimated the number of people who could diagnose the monetary disease.
So the key is to engage the hidden forces of economics, though not for destruction but salvation. The key is to make it profitable to invest in the gold standard.
In this talk at the Harvard Club in New York, I discuss more openly than I ever have before what is Monetary Metals doing, and why are we doing it? What is our vision, and how does it work?
We are in Keynes’ “long run”. We have achieved his goal of euthanizing the rentier (killing the saver) with near-zero interest rates. If his evil plan is not reversed, we are dead.
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