It's no mystery that Bernanke's incredible dollar pumping would send worried investors into safe-haven currencies (gold and silver) that cannot be debased. We don't need to draw up fancy models to get inside investors' heads; these people are screaming their motivations at us every day.
"Second-best" policy recommendations can never find perfection (by definition). But if we are going to have the government providing a monopoly of domestic currency, Ludwig von Mises's proposal for a return to a gold standard is theoretically elegant and eminently practical.
The gold standard is more politically relevant than it has been in decades — so now the falsehoods spread.
They didn't listen then. But maybe they'll listen now. We need monetary freedom more than anything else.
A man would die of hunger who, having decided that money is real wealth, should carry out the idea to the end.
I use the term "liberal" without irony or contempt, for the liberal tradition in the true sense was devoted to freeing people from the shackles of the state.
What if this law in the state of Utah catches on? What if people started to price goods and services on the basis that $20 equals an ounce of gold?
