Mises Daily
Author:
Clifford F. Thies
Online Publish Date:
Ludwig von Mises was the foremost advocate of the gold standard of his day. Yet, he recognized that gold only became the world’s premier monetary metal because of a botched attempt to establish a bimetallic standard, in which the government tried to fix the value of gold in terms of silver ( Human Action, 3rd revised edition, p. 471 ). Well,