Austrian Macroeconomics
The Case For Gold: A Minority Report of the U.S. Gold Commission
Title Page
A Minority Report of the U.S. Gold Commission Second Edition
Rep. Ron Paul and Lewis Lehrman
THE LUDWIG VON MISES INSTITUTE
AUBURN, ALABAMA
2007
Copyright
Library of Congress Cataloging in Publication Data
Paul, Ron, 1935–
The case for gold.
ISBN 0-932790-31-3
SECOND EDITION
Originally published in the Congressional Record, Government Printing Office, Washington, D.C., 1982. Republished by the Cato Institute, 1982, with a second printing in 1983.
Acknowledgements
The authors would like to thank Christopher Weber, Murray Rothbard, and John Robbins for their assistance in researching, drafting, and editing this report.
Foreword
More and more people are asking if a gold standard will end the financial crisis in which we find ourselves. The question is not so much if it will help or if we will resort to gold, but when. All great inflations end with the acceptance of real money—gold—and the rejection of political money—paper. The stage is now set; monetary order is of the utmost importance. Conditions are deteriorating, and the solutions proposed to date have only made things worse.
Foreword to the Second Edition by Llewellyn H. Rockwell, Jr.
This country had the chance to avoid the disastrous meltdown of 2008 and following, the one that has led to the nationalization of industries, the creation of oceans of paper money, and the destruction of so many American dreams. The answer that might have been is the one you hold in your hands: the minority report of the U.S. Gold Commission of 1982, written by Ron Paul and signed by Lewis E. Lehrman.
Introduction
The United States is now in the most serious recession since the 1930s. The most staid and sober magazines and newspapers are writing openly about the possibility of depression. Sectors of the economy have already entered the depression stage; more are threatening to follow. The number of personal and business failures more than doubled from 1971 to 1981, and the early figures for 1982 indicate that failures are up 50 percent over 1981. Interest rates remain near record highs; unemployment has reached nine percent and is moving upward.
I. The Present Monetary Crisis
I. The Present Monetary Crisis
II. A History of Money and Banking in the United States Before the 20th Century
II. A History of Money and Banking in the United States Before the 20th Century
