Gold Standard

One way to compare prices of similar commodities and services over long periods of time is to convert the nominal prices to ounces of gold.

To stay in power, governments have to keep spending money. They need to give money to their friends, to give money to their supporters, to carry out their various projects, and—most expensive of all—to have wars.

While it wouldn’t solve everything, a gold audit would be a step towards sound money.

Prominent central bankers have given conflicting statements concerning gold. What soaring gold prices might indicate is that the world is now turning to gold.

Alex Pollock shows Hayek’s case for currency competition over central-bank monopoly—why real monetary freedom means letting monies compete.

The quest for sound money is hardly a recent phenomenon. In 13th century Italy, two different gold monetary units competed with each other in the Medieval Italian economy.

The gold price is off and running this week. But, money creation isn’t listed as a cause.

Nixon’s 1971 decision didn’t just close a gold window—it opened the door to a fiat future of perpetual inflation, asset bubbles, moral hazard, and chronic economic dysfunction.

Bob Murphy reviews The Gold Standard: Retrospect and Prospect. This is a useful collection for those who want an evenhanded analysis of the gold standard that extends to modern topics such as cryptocurrency and currency boards.

Patrick Newman reviews The Gold Standard: Retrospect and Prospect. The collection provides an honest assessment of the gold standard, highlighting both the strengths and limitations of the gold standard, while also addressing alternatives such as monetary rules and cryptocurrencies