Since the 2008 financial crisis and the monetary policy changes of the last several years, talk of bringing back the gold standard has become commonplace. Unfortunately, there are a lot of facts and myths about the gold standard, and even many of those in favor of it miss some extremely important elements of what it needs to have.
On this page, I’ve linked to articles that explain what a free-market gold standard would look like, and list some key monetary concepts that even the most radical pro-liberty people often misunderstand. We’ll learn why a gold standard isn’t just economically productive over time — it’s necessary to stop the greatest onslaught of wealth destruction the world has ever seen.
- What Is Money? A short review of the nature of money. This sounds obvious, but it includes basic facts that most economists completely understand… and it’s destroying our economy.
- Why The Dollar Is Critically Broken. The dollar is fundamentally broken, and it’s not just government spending and printing. It’s the very nature of what the dollar is and what it’s “backed” by.
- The Case For A Gold Standard. This is a short case for why we need to have a free market monetary system — or a “gold standard” as it’s called.
- Why Gold Alone Can’t Save Us. A free-market gold standard is about more than just the gold. It includes an entire array of monetary options that are actually illegal right now.
- Real Bills Doctrine: Gold’s Forgotten Secret. Without this, the gold standard fails. The Real Bills Doctrine allows people in a free market to continue doing business even when credit begins to dry up. It allows people to work together with trade — even when money and gold are scarce during recessions.
- 3 Myths About The Gold Standard. The gold standard has quite a few myths and outright lies all about it, and we dispel them here.
The gold standard is absolutely necessary to save our economy. If we don’t return to free-market money, we’ll continue to see major booms and busts, and eventually our monetary system will simply come unglued. If we want to save civilization, we have to admit that our fiat money experiment has failed, and we must return to gold.
It’s as the brilliant Austrian economist Ludwig von Mises said:
“The gold standard was the world standard of the age of capitalism, increasing welfare, liberty, and democracy, both political and economic.”
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