Mises Daily
Author:
Murray N. Rothbard
Online Publish Date:
increasingly found itself drained of gold to keep the gold price down. Individual Europeans and other foreigners realized that because of this Treasury commitment, the dollars in gold, as they had a right to do. But as soon as a substantial number of European countries were no longer content to inflate on top of depreciating dollars, in the United States is the search for a convertible currency in the ruined Soviet Union. It may well dawn on the Russians that their now nearly worthless ruble could