Arguments over the gold standard are not merely technical disagreements. Rather, the gold standard often serves as a proxy for “sound money,” which was a central element in the classical liberal tradition of limiting government’s ability to wreak havoc on society.
A rising price of gold and silver in US dollars, euros, Chinese renminbi, Japanese yen, etc. means this: the higher the price of this precious metal, the lower the exchange value of official currencies.
Central bankers are saying two things at once. First, they say that negative interest rates are a natural historical development. But then they say negative rates are an essential tool central banks are using to manipulate the economy.
With the help of our extraordinary supporters, the Mises Institute is the world's leading supporter of the ideas of liberty and the Austrian School of economics. Since 1982, it has been the essential training ground the world over. With the continuing and growing economic crisis, the ideas of liberty are gaining more attention than ever. The Austrian School in particular is undergoing a remarkable renaissance. Hear the words of some of our supporters to learn why they are seizing the moment to help the Institute flood the world with truth.