To answer a reader question, I revisited Rothbard's transition plan for 100% gold. This is cut and pasted from the Mystery of Banking (Richardson and Synder, 1983), pp. 265-267.
"The power to issue money was essential for the finance of the government … in order to give to government access to the tap where it can draw the money it needs by manufacturing it."
This is the ultimate Rothbard reference book, and your single source for his best excerpts and quotes on all the core subjects: economics, philosophy, epistemology, ethics, history, law, and libertarianism.
The demand for a medium of exchange is the composite of two partial demands: the intention to use it in consumption and production and the intention to use it as a medium of exchange.
