The gold in the US gold reserve is a legacy of the time the US government refused to keep its promise to redeem dollars in gold, and when it reneged on its legal obligations to repay debts in gold.
J.B. Say deserves to be remembered, especially by Austrian economists, as a pivotal figure in the history of economic thought. Yet, one finds him discussed very briefly, if at all.
While historian Walter A. McDougall was not a libertarian, nonetheless he had some Rothbardian insights on Woodrow Wilson and his reckless intervention into World War I. David Gordon notes that while McDougall‘s views on intervention were inconsistent, they still are useful.
Although egalitarian interventionism constantly is wrecked on the shoals of reality, there is always a stable of new politicians eager to promote what Murray Rothbard called “a revolt against nature.”
Ryan is joined by Economist and Mises Institute Fellow Kristoffer Hansen to discuss what would have happened if Argentina President Javier Milei had immediately shut down the country's central bank. The same holds for every other central bank, as well.
The US government‘s gold stockpile is not supporting the US dollar. The demand for US debt and currency is largely based on the state‘s taxation power. It‘s not based on gold.
The world‘s trading systems are broken, thanks to fiat currencies and the reckless deficit spending by the US government. There is a way out; it is called settling accounts in gold, which would force fiscal sanity once more.
In a recent New York Times column, Dartmouth professor Brooke Harrington claimed that Trump is undoing trust in our institutions while Franklin Roosevelt restored it. Clearly, Harrington doesn‘t know much about FDR—or Trump.
Franklin Roosevelt’s attacks on the gold standard ushered in “the age of inflation” that has now robbed generations of Americans through the inflation tax.
The US gold reserves in Fort Knox are a legacy of the time the US government confiscated private gold and reneged on its promises to pay its debts in gold.
