It is no secret that freedom, both socially and economically, are disappearing in the USA and Great Britain. The consequences will be most severe if we do not reverse these patterns.
The fiat monetary system is slowly breaking down, taking the economy with it.
Once upon a time, the USA had sound, reliable money. Then, a small group of "really intelligent" people decided to "improve" it. We know the rest of the story.
Poplular history says that massive government spending—made possible by ending the gold standard—ended the Great Depression. As usual, popular history is wrong.
The fiat monetary system is slowly breaking down, taking the economy with it.
In a market economy, gold is sound money. There is no need for monetary authorities when gold rules.
No matter the historical era, governments have excelled at one thing: debasing their own currency. Rome was no exception, as Roman government excesses required inflation—lots of inflation.
John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.
By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?
The US monetary system is out of sorts and out of control. The authors show a path back from the inflation brink to monetary soundness.
