Jp Cortez, executive director of the Sound Money Defense League, joined Charlotte McLeod of Investing News to discuss sound money, state legislative victories, and what is at stake in the upcoming presidential election.
Key Points Discussed
- Jp Cortez's Background and Advocacy for Sound Money:
- Jp Cortez introduced himself as the executive director of The Sound Money Defense League, a nonpartisan public policy group in the U.S. advocating for the use of gold and silver as money. His interest in sound money began at The Mises Institute, where he learned about the economic impacts of money dying and became passionate about monetary reform.
- Current Economic Issues and Inflation:
- The discussion highlighted the current economic problems in the U.S., especially inflation. Jp pointed out that people are increasingly aware that something is wrong with America's money, and sound money could address these issues. He mentioned the educational gap since the gold standard was abandoned in the 1970s and the resulting world of credit and debt.
- Legislative Progress in 2024:
- Jp detailed the legislative successes of 2024, with six states enacting laws to promote sound money by ending sales tax on precious metals and 13 states ending capital gains taxes on gold and silver. He emphasized that removing these taxes encourages the use of gold and silver as money and fosters innovation in the space, such as digital gold and fractional gold offerings.
- State Rankings for Sound Money:
- The Sound Money Index ranks all 50 states by their sound money policies. Jp explained that this index, produced annually, provides a comprehensive scorecard to evaluate which states have the best policies supporting sound money. The goal is to highlight progress and areas needing improvement to promote sound money legislation nationwide.
"I believe the stewards of America's money have been very, very poor and irresponsible stewards. So introducing competition to the dollar is a positive," he said. "The money managers here in the US can either shape up and get their act together, or the dollar can die a death. It will be vanished into history like any of the other hundreds of paper currencies that have failed."
This interview was filmed on June 7, 2024.
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