Can the Dollar Once Again Be Anchored by Gold? One Congressman Believes It Can
The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.
The Gold Standard Restoration Act seeks to once again tie the US dollar to gold.
Former Fed chairman Ben Bernanke and two other economists have received the Nobel in economics this year. Their work on banking is weak on causality and fails to recognize the damage done by the central bank.
Anyone who has taken a Keynesian-based macroeconomics course remembers the equation of exchange: MV = PY. This equation, however, is buried in fallacious economic thinking.
The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.
Standard neoclassical definitions of money call it a means of exchange and a store of value. But is this correct?
The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.
Economic calculation requires a monetary system that is not sabotaged by government interference.
"Most of the advocates for tender laws are those who have debts to discharge, and who take refuge in such a law, to violate their contracts and cheat their creditors."
The original monetarists (Milton Friedman), Scott Sumner, and problems with market monetarism.