The classical gold standard has gotten a raw deal in our historical memory. Setting the record straight is a crucial step on the road back to restoring sound.
READ MOREThe era of monetary cosmopolitanism was brief. But its effect on human welfare was enormous.
READ MORERequiring that citizens track transactions in gold or alternative currencies and pay taxes on gains and losses relative to the dollar is just another mechanism for keeping the monetary playing field unbalanced in favor of government fiat.
READ MORE“Money” lacks a standard definition. In his 2014 book Dawn of Gold: The Real Story of Money, Gold Standard Institute President Philip Barton defines money as a “store of stable value,” and it is this stable value that separates gold from everything else that aspires to be called money.
READ MOREDebasement helps the mint defend against an aggressive counterfeiter.
READ MOREThe contrasting supply and demand mechanisms of Bitcoin and gold mining pose real challenges to the cryptocurrency’s future.
READ MOREThere is a reason to the rhyme of why dealers, rappers, and pimps wear their wealth. It all comes down to the legal gulf that separates their professions and art from civic practices. If you want to keep what you have earned, and take every precaution against having it pillaged by the police, it’s best to carry it with you.
READ MOREGovernment monetary policy was not invented to help the everyday person but instead to benefit the government and its connected interests, “the swindlers.”
READ MOREProblems that arose with the gold standard were certainly associated with deflation. That does not mean the gold standard was inherently deflationary.
READ MOREDevaluation, or clipping the coinage, as the process was called in the days of the Robber Kings, is a subtle form of taxation. Like most other taxes, those imposed by this insidious method will be borne by the Forgotten Man.
READ MOREIn many ways, we are better off than we were in the era of the international gold standard. But monetary freedom is not one of them.
READ MORECoinage provided an easy-to-assess standard. It also presented a significant temptation for the fiscal authority.
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