Agenda Profile: Leo Kunnas
Third reading of the Draft Act amending the Act on Precious Metal Products, the State Fees Act, and the Equipment Safety Act (363 SE)
2024-04-16
15th Riigikogu, 3rd sitting, plenary session
Political Position
The speaker supports the technical precious metals bill (363 SE), but their primary political position is strong advocacy for establishing a national gold reserve. They stress the necessity of holding reserves that are not dependent on the current unstable fiat currency system, prioritizing financial stability and crisis readiness. The stance is strongly values-driven, highlighting gold's stability amid inflation and systemic risks.
2 Speeches Analyzed
Topic Expertise
The speaker demonstrates expertise in monetary economics and the precious metals sector, citing specific details like the price of gold ($2,370 per ounce), the measurement of an ounce, and the specifics of the historical gold standard (1971). They utilize statistics (a US debt level of $26 trillion, Estonian reserves totaling 200 kg) to bolster their arguments concerning the instability of the financial system. Furthermore, they are capable of explaining the stability of gold's value relative to the inflation experienced by fiat currencies.
2 Speeches Analyzed
Rhetorical Style
The speaker adopts an analytical and serious tone, highlighting the inherent danger and instability of the current financial system. He primarily relies on logical arguments and data, steering clear of emotional appeals, save for stressing the urgency of the situation. He draws a comparison to military security to underscore the critical need for preparedness against a financial crisis.
2 Speeches Analyzed
Activity Patterns
The speaker requested three minutes of additional time at the beginning of the session, which suggests they wanted to present a more thorough and lengthy analysis than the usual speaking time would allow.
2 Speeches Analyzed
Opposition Stance
The criticism is aimed at previous governments who sold off Estonia’s historical gold reserves, and the current financial policy, which has failed to establish genuine reserves. The opposition is rooted in policy and strategy, focusing on the short-sightedness demonstrated in assessing financial risks and managing reserves.
2 Speeches Analyzed
Collaboration Style
The speaker notes that the faction of the Estonian Conservative People's Party supports the technical bill currently under consideration. He directly addresses "all parties" with an appeal to consider establishing a gold reserve, demonstrating readiness for a cross-party discussion on strategic financial matters.
2 Speeches Analyzed
Regional Focus
The focus is on the national level (Estonia's gold reserve and financial stability) and international macroeconomic risks, such as the US debt level and instability in the global financial system. Specific local or regional Estonian problems are not addressed.
2 Speeches Analyzed
Economic Views
The speaker advocates strict fiscal discipline and maintaining reserves in gold, arguing that gold is a stable store of value, unlike fiat currencies which are eroded by inflation. He sharply criticizes the current monetary policy, which relies on a system without the gold standard, viewing this as a significant economic and systemic risk.
2 Speeches Analyzed
Social Issues
Not enough data
2 Speeches Analyzed
Legislative Focus
The speaker is a proponent of the draft act (363 SE) amending the Law on Precious Metal Products, the State Fees Act, and the Equipment Safety Act. However, his main strategic priority is the creation and increase of the national gold reserve (for example, up to 20–30 tons) to mitigate the risks of financial crises and ensure financial stability.
2 Speeches Analyzed