Gold Standard

Bob explains that the beloved Wizard of Oz movie involved an allegory of the bimetallism debates of the late 1800s.

Mises Fellow Kristoffer Hansen joins Bob to discuss the controversy surrounding Mises' perspective on fractional reserve banking and free banking.

Brent Johnson of Santiago Capital joins Bob for a friendly disagreement over the dynamics of a decline in foreign demand to hold USD.

Many economics textbooks claim that a function of money is to measure the value of goods. In fact, the value an individual attaches to a given sum of money or to any kind of good (including gold) is based on a subjective judgment and is without physical dimensions.

The Federal Reserve System might be rapidly debasing the US Dollar, but several states are making it easier to own gold. The "barbarous relic" is gaining economic status.

Sponsored by Paul Dietrich.

Keynes denounced monetary gold as "a barbarous relic." In the end, it will be that "barbarous relic" that overthrows the regime of paper currency.

In the wake of bad news on inflation, the Federal Reserve is pushing up interest rates. However, a Fed-induced higher rate is not the same as an interest rate decided by the market.

Ryan McMaken joins Bob to discuss the surprisingly negative reaction (from a Reason writer and Tyler Cowen) to Oliver Anthony's hit, "Rich Men North of Richmond."

Keynes denounced monetary gold as "a barbarous relic." In the end, it will be that "barbarous relic" that overthrows the regime of paper currency.