Gold Standard

The Oracle admits that the printing of paper money is inflationary, but being a consistent proponent of expanding government, he constantly dismisses gold and proposals to return America to a gold standard.

Much like the US's decision to save Bretton woods by coercing South African gold sales, today's governments will resort to ever more authoritarian measures rather than allowing their pet institutions to fail.

Burt's support was more than financial; he also offered his time and energy with great generosity.

In contrast, throughout its previous 150 or so years, the American economy had managed to do just fine without the Federal Reserve "fine tuning" the money supply.

By flooding the credit markets with money created out of thin air, the central banks of the world are interfering with humans' attempts to communicate with each other after the housing bubble popped.

Murray Rothbard was more aware than anyone of the ongoing evils perpetrated by government and he was never given the proper recognition in academia. But he was constantly happy and loved to laugh. Now I know Murray wasn't a joyous libertarian by himself; he had help from his smart, wickedly funny best friend Burt.

"By far the biggest fallacy is the belief that a growing economy requires a growing money supply."

"Let's go back to using real money."

"Gold's market premium to the official price was no small matter as it questioned the very fundamentals of the planned monetary system."

Although the dollar is no longer tied to gold, that will not stop the dollar price of gold from exploding when more investors realize that no one, not even a sharp guy like Ben Bernanke, ought to hold the fate of the world's economy in his hands.