Gold Standard

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: “The Gold-Exchange Standard i

From Part III of A History of Money and Banking in the United States: The Colonial Era to World War II: “From Hoover to Roosevelt: T

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: “The Gold-Exchange Standard i

Announcing that 50 million Americans are uninsured means nothing.

Fiat money — or, to be more precise, its production — is already a violation of the free-market principle; and fractional-reserve banking amounts to leveraging the economic consequences of fiat money. Austrians favor a money that is freely chosen and operates by market principles.

Bernanke assured the national audience that the Fed was not printing money; however, he didn't explain where the Fed was going to get the funds to buy $600 billion worth of treasuries.

More and more journalists and economists are calling for a return to "sound money." Joseph Salerno's new book provides a rigorous examination of what sound money really means.

The principle of sound money consists in affirming the market's ability to choose and maintain money (and the enormous benefits this has provided to society) and also in opposing any government meddling in money.

Gold in the money survived all the way to Nixon, and it was he who finally drove the stake in once and for all. That was supposed to be the end of it, and the beginning of the glorious new age of paper prosperity.