Mises Wire

The End of the Gold Standard. Fifty Years of Monetary Insanity

Gold StandardMoney and Banking

Blog08/21/2021

The gold standard supposed a limit to the fiscal voracity of governments, and suspending it unleashed the perverse proclivity of the states toward indebtedness and to pass the current imbalances on to future generations.

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The Secret Ronald Reagan Told Me about Gold and Great Nations

Money and Banks

Blog08/19/2021

Fifty years after Nixon closed the gold window, prices are heading toward 1970s-era increases. Yet the Fed cannot increase interest rates as long as the politicians keep creating billions of new debts.

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Two Percent Inflation Is a Lot Worse Than You Think

Money and Banks

Blog08/18/2021

Even at a "mere" two-percent level, cumulative price increases over time are nothing to scoff at. Even worse, if we look at what people really spend money on, price inflation doesn't much reflect the conclusions of "official" stats.

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The Demise of the Gold Standard

Gold Standard

Blog08/17/2021

Nixon’s closing the gold window should be seen as the end of the last remnant of the gold standard, not some kind of market failure. Governments controlled most of the gold and set its price.

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The Pentagon and the Generals Wanted This Disastrous War

U.S. History

Blog08/17/2021

It's not just the civilian politicians. For twenty years, the military itself pressed for more war, endlessly claiming that victory was right around the corner. 

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The End of the Sound Economy

Money and Banks

Blog08/16/2021

“We crossed the Rubicon in 2008. We crossed a different Rubicon in 2020. And we're never going back. And so, recessions are not allowed." The money mandarins will do everything they can to prop up asset values. Forever.

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This Is How Savings and Investment Pave the Way for an Advanced Economy

Money and Banks

Blog08/14/2021

Modern economies produce a seemingly endless supply of goods. But without the "subsistence fund," built on saving and investment, the mountain of goods we take for granted would be impossible. 

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The Crime of '71: When Nixon Ended the Dollar's Last Connection to Gold

U.S. History

Blog08/13/2021

Nixon's decision to end the gold redeemability of the greenback was probably the most comprehensive act of monetary expropriation of modern times.

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