Monetary Theory

As Murray Rothbard wrote, inflation is not an increase in prices. It is, instead, an increase in the supply of money in circulation. The distinction is important.

Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.

In a market economy, gold is sound money. There is no need for monetary authorities when gold rules.

Fiat money is the fuel of the modern Leviathan state. If we wish to have freedom, we must have sound money.

The fiat monetary system is slowly breaking down, taking the economy with it.

The fiat monetary system is slowly breaking down, taking the economy with it.

In a market economy, gold is sound money. There is no need for monetary authorities when gold rules.

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.

At a time when inflation once again ravages the dollar, we recall Murray Rothbard's wisdom in his article "The Case for a Genuine Gold Dollar."

The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.