Gold Standard

The quest for sound money is hardly a recent phenomenon. In 13th century Italy, two different gold monetary units competed with each other in the Medieval Italian economy.

The gold price is off and running this week. But, money creation isn’t listed as a cause.

Nixon’s 1971 decision didn’t just close a gold window—it opened the door to a fiat future of perpetual inflation, asset bubbles, moral hazard, and chronic economic dysfunction.

Bob Murphy reviews The Gold Standard: Retrospect and Prospect. This is a useful collection for those who want an evenhanded analysis of the gold standard that extends to modern topics such as cryptocurrency and currency boards.

Patrick Newman reviews The Gold Standard: Retrospect and Prospect. The collection provides an honest assessment of the gold standard, highlighting both the strengths and limitations of the gold standard, while also addressing alternatives such as monetary rules and cryptocurrencies

The comparison between gold and bitcoin comes down to their respective qualities and how well these qualities answer to the purpose of money.
 

What happens when a society consumes its seed corn?

There is much gnashing of teeth and pulling of hair by just about every leader in the West, especially by an almost apoplectic President Trump, over a so-called “sinister threat” by the BRICS.

There is much gnashing of teeth and pulling of hair by just about every leader in the West, especially by an almost apoplectic President Trump, over a so-called “sinister threat” by the BRICS.