The November 21, 2024, episode of The Bryan Hyde Show featured an insightful discussion with Stefan Gleason, the President and CEO of Money Metals Exchange. Gleason’s journey began with a notable career in public policy focused on labor rights, but his interests evolved toward monetary policy, particularly in response to the Federal Reserve’s influences on markets and the diminishing purchasing power of the U.S. dollar. Over two decades ago, Gleason turned to precious metals as a solution, which culminated in the founding of Money Metals Exchange in 2010 alongside his brother and brother-in-law. The company has since become a leading player in the precious metals industry, known for its commitment to promoting the ownership and accessibility of precious metals in a market suffering from volatility and inflation concerns.
Throughout the interview, Gleason clearly defined sound money, characterizing it as currency that retains its value over time and is not susceptible to political manipulation, such as inflationary tactics imposed by central banks. Traditionally manifested in gold and silver, sound money is durable and widely recognized. Gleason pointed out that the transition away from the gold standard in 1971 has significantly harmed the dollar’s value, causing approximately a 98% decline. This trajectory has led to rampant inflation and economic instability, demonstrating the critical need to recognize and return to sound money principles to preserve wealth.
Central Bank Digital Currencies (CBDCs) emerged as a key concern during the discussion, with Gleason labeling them a potential vehicle for totalitarian control of the populace. Unlike private digital currencies like Bitcoin that allow for individual choice and freedom, CBDCs come under the purview of central banks, effectively allowing governments to monitor and regulate every financial transaction. Gleason connected this growing trend to a broader crisis of confidence in dollar-denominated systems brought on by irresponsible fiscal and monetary practices. He advocated for a free-market landscape where individuals have the liberty to choose their currency, emphasizing the need for a diversified monetary approach incorporating both sound money and private alternatives.
A significant portion of the dialogue focused on the tangible benefits of owning physical assets such as gold and silver. Gleason underscored that these investments act as hedges against inflation and currency devaluation, especially as the precious metals market continues to expand in relevance. Despite recent surges in gold prices, rising to $2,700 per ounce—a 30% increase—only a small fraction of the U.S. population, around 1-2%, hold physical precious metals. Gleason urged Americans to reassess their financial portfolios and consider adding tangible assets, highlighting the global liquidity and historical resilience of gold and silver as means of preserving wealth against economic uncertainty.
The undervaluation of silver also appeared prominently in the conversation. Gleason pointed out that the traditionally recognized gold-to-silver ratio, which historically hovers around 40:1, has skyrocketed to over 80:1, signaling silver’s significant potential for revaluation. He articulated that silver holds unique value stemming not only from its precious metal status but also its extensive industrial applications. This is particularly relevant in sectors such as technology and healthcare, where demand continues to surge. Thus, while acknowledging investors’ concerns regarding silver’s volatility, Gleason expressed strong optimism about its future, especially as more individuals and institutions exhibit growing interest in stable, physical assets.
Gleason also tackled the challenges that hinder broader acceptance of precious metals as legitimate investment vehicles. These obstacles include widespread misinformation, a lack of endorsement from financial advisors, and unethical practices in the precious metals market, such as excessive premiums charged by certain distributors on collectible coins. To combat these issues, he emphasized Money Metals Exchange’s commitment to transparency and fair pricing, advocating for a more informed consumer base equipped to make prudent investment choices in precious metals without being preyed upon by unscrupulous actors.
A pivotal aspect of Money Metals Exchange’s efforts is encapsulated in its Sound Money Index, which annually assesses governmental policies impacting the use and ownership of sound money across all 50 states. The index employs various criteria, including tax implications and states’ reserves, to give a comprehensive view of sound money viability state-by-state. Wyoming emerged at the forefront of the rankings, while states like California and Vermont fell behind, reflecting their less favorable policies towards sound money. Gleason encouraged listeners to engage with the Sound Money Index available on Money Metals’ platform, emphasizing the importance of advocacy for sound money legislation as a collective effort toward restoring the integrity of financial systems and enhancing personal financial security for individuals across the country.
In conclusion, the conversation between Bryan Hyde and Stefan Gleason highlighted the urgent need to return to principles of sound money amid economic turbulence marked by inflationary pressures and centralization of currency control. Gleason’s insights provided a valuable perspective on the potential for precious metals to serve as a hedge against financial instability, inviting listeners to explore the resources available through Money Metals Exchange for a more thorough understanding of precious metals investment. Those seeking to ensure their financial future might consider participating in the sound money movement, informed by the data and advocacy coordinated through platforms like the Sound Money Index, ultimately promoting a return to a more robust and reliable monetary system.