Gold Standard

The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.

"Most of the advocates for tender laws are those who have debts to discharge, and who take refuge in such a law, to violate their contracts and cheat their creditors."

Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.

Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.

The political class is trying to pull the wool over your eyes. Government spending and debt are just as important as taxes.

Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.

Nickel is a base metal the government used to replace silver. Since then, the government has inflated so much that even nickel is too valuable for US coinage.

Academic economists since John Maynard Keynes have mocked the classical gold standard, but when government implemented their system, we got inflation and destruction of the currency. Time to rethink the success of that gold standard.

Jeff talks to Keith Weiner of Monetary Metals about why gold still plays a major role in the global economy. 

Legal tender laws create special privileges for government money. That kills true currency competition and favors the state's monopoly power.