Gold Standard

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The End of the Gold Standard. Fifty Years of Monetary Insanity

Gold StandardMoney and Banking

Blog08/21/2021

The gold standard supposed a limit to the fiscal voracity of governments, and suspending it unleashed the perverse proclivity of the states toward indebtedness and to pass the current imbalances on to future generations.

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Bretton Woods and the Spoliation of Europe

World HistoryGold Standard

Gold was only included in the plans for the Bretton Woods system because of the veneer of solidity it gave.

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The Demise of the Gold Standard

Gold Standard

Blog08/17/2021

Nixon’s closing the gold window should be seen as the end of the last remnant of the gold standard, not some kind of market failure. Governments controlled most of the gold and set its price.

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Why Hazlitt Opposed the Bretton Woods System

U.S. HistoryGold StandardMoney and Banking

That Bretton Woods was called a gold standard was an exercise in obfuscation. It happened for the same reason that NAFTA was called free trade. The state has long used the language of the market economy as a plow to push through its opposite.

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The World Needs a Gold-Backed Deutsche Mark

Money and BanksWorld HistoryGold Standard

Blog02/12/2021

Reinstating the mark, a peaceful act by a sovereign country, would create a cascade of monetary reform throughout the world. Europe's trading partners would find the cost of necessary imports rising in terms of their local currencies, forcing them to adopt fiscal and monetary responsibility.

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The Dollar's Reserve Currency Status Won't Last Forever

Central BanksGold StandardMoney and Banking

Blog01/28/2021

Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago. 

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Why We Need a Free Market in Money

InflationMoney and BanksGold Standard

Blog11/20/2020

A free market in money means real freedom to choose what money we use.  This may mean people turn to gold and silver. Or they may turn to crypto. What's important is that it's market-based money. 

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Printing Money at a "Constant" or "Stable" Rate Won't Prevent Boom-Bust Cycles

Booms and BustsInflationGold Standard

Blog10/19/2020

Money printing—even at a constant rate—is going to generate the same result as any other money printing. The reason lies in the fact that money creation transfers wealth from productive to unproductive enterprises.

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A Brief History of the Gold Standard, with a Focus on the United States

Global EconomyU.S. HistoryGold Standard

Blog08/14/2020

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.

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