Rothbard shows how money must originate from a commodity. In an ideal system, a dollar would be a unit of weight, and paper money would operate strictly as warehouse receipts for the stock of the monetary metal. There would be no fractional reserve banking. Rothbard offers a rebuttal to the objections to a 100 percent gold dollar raised by Professor Leland Yeager.
Murray N. Rothbard made major contributions to economics, history, political philosophy, and legal theory. He combined Austrian economics with a fervent commitment to individual liberty.
The Fed was a government-sanctioned cartel engineered by the Morgan, Rockefeller, and Kuhn, Loeb interests to enable coordinated inflation.
The Panic of 1907 becomes the catalyst. Rothbard traces the response.
Rothbard shows how Conant’s claim that mature economies must export capital abroad linked banking reform to economic imperialism.
Mises Institute, 2001
