So, in both cases of the "gold standard" and "free banking" we find that much of the case against the free-market policy is based on misrepresentations of the policies and semantic subversion.
Needless to say, during the course of this history, the federal government took more and more monetary powers so that, today, our monetary arrangements would be unrecognizable to any of the Founders. Our coins, in particular, are ugly little pieces of nothing and a constant reminder of our degradation.
The May/June issue of Foreign Affairs, the organ of establishment policy, published
From National Review Online’s David Frum:
Make the dollar as good as gold and you eliminate the inflation problem and the business cycles that go along with it.
Why, after years of the market’s neglect of gold, is the paper money price of gold no
But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears
Publisher Wiley Business Finance has released a new book, Gold: The On
But if investment-conference attendance is any indication, the price of gold and other commodities has a long way to go — up.
No doubt, the costs of a return to "sound money" — that is ending the government money-supply monopoly and returning the supply of money to free-market forces — would most likely be substantial. It would most likely entail a severe loss in output and employment, given that inflation has been allowed to have a say in the allocation of scarce resources for decades.
