Charles Goyette: The End Of The Federal Reserve
Tom welcomes a new guest Charles Goyette to the show. Charles is an author and well known radio personality.
Charles outlines what may make this the last gold rush. There is something different about this bull market, and that is what he has written about in his latest book. Bull markets are generally driven by money printing, but today this is unprecedented and global.
He discusses much of the history of gold ownership in the United States and why today’s dollar is fragile. The U.S. Government has massively overspent that much of the world is pushing back. The U.S. grows weaker because the might of the U.S. comes from it’s economic strength, which is in decline.
He explains the Federal Reserve System’s beginnings and why it’s name was an ingenious marketing ploy. They didn’t dare call it a central bank, but it instead encouraged the notion of central reserves to provide stability and liquidity. Last March, the Fed announced that the reserve requirements of banks were being abolished.
The rapid move toward a global digital currency standard is being driven by the need to eliminate cash. Since governments and central banks know they are moving into a period of negative interest rates, they want to charge the consumer while also monitoring and controlling their spending habits.
Charles discusses some of the more crazy aspects of Modern Monetary Theory and their belief they can print money without consequence. Before Covid, introducing MMT would have been very difficult, but now, this is no longer an issue with massive fiscal spending.
The government is always trying to inflate, and their motivations are many. The market senses these bubbles and tries to deflate them to some norm. Thus the popping of the bubbles is deflation, and the pumping up is inflation. The impact of all the business closings this year and job losses have yet to be fully felt as they rebound throughout the economy.
He says, “They will print money until the economy collapses… We’re in an end-game event for the dollar.”
Time Stamp References:
0:00 – Introduction
0:49 – The Last Gold Rush
4:18 – Accelerant Factors
8:30 – Gold and Central Banks
9:53 – Reserves and Fed’s Purpose
13:57 – Moving to a Digital Dollar
18:56 – Modern Monetary Theory
24:34 – Flationary Forces Outcome
28:50 – Profiting From Collapse
34:34 – Overview of his books
39:25 – Politics & Monetary Policy
Talking Points From This Episode
- The Last Gold Rush
- Accelerating Gold Bull Trends
- Central Bank Operations
- Digital currencies and eliminating cash.
- How encumbered is America’s gold?
New York Times bestselling author and radio personality Charles Goyette, known for his outspoken libertarian views and his economic commentary, has been described as a fearless champion of liberty, peace, and prosperity.
Charles and former presidential candidate and Congressman Ron Paul join forces on the nationally syndicated radio commentary Ron Paul’s America, heard twice daily on 125 radio stations. Charles also hosts Ron Paul – The Weekly Podcast, a sponsored, long-form discussion podcast.
Charles is the author of the New York Times bestseller “The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, and Other Unconventional Investments.” His latest book is “Red and Blue and Broke All Over: Restoring America’s Free Economy.”
Goyette spent many years as an award-winning and popular Phoenix radio personality. Because of his insistence on holding all politicians regardless of party accountable to the same strict standards, Charles was widely known as “America’s Most Independent Talk Show Host.” He was voted Best Phoenix Talk Show Host in the New Times by listeners who couldn’t get enough of his “Fearless Talk Radio.”
Charles has also been a participant in the national political debate as a popular public speaker and is often called upon to share his views with national television audiences.
Charles has long been active in the national economic debate. More than 25 years ago, Charles arranged for both Dr. Murray Rothbard, an Austrian-school free-market economics icon, and Congressman Ron Paul to be keynote speakers at a national monetary and investment conference he hosted.
Charles Goyette is a U.S. Army veteran and a recipient of the Army Commendation Medal for meritorious service.
In 2002 with the lead up to George W. Bush’s elective war in Iraq, Charles Goyette found himself in a whirlwind of controversy and national attention for his outspoken opposition to the war.
Charles has been a voice of reason and foresight during these turbulent financial times. Today, Charles brings his expertise to a new venture, Charles Goyette’s Freedom & Prosperity Letter–a political and economic newsletter.
Charles is a founding member of the Board of Directors and recent President of the Leonardo da Vinci Society for the Study of Thinking.
Charles enjoys skiing, hiking, good company, and conversation. He and his wife, Ali, live in Scottsdale, Arizona.