Articles
How Gold Was Money--How Gold Could Be Money Again, by Richard H. Timberlake Jr., The Freeman: Ideas on Liberty, Apr 1995
Monetary Central Planning and the State, Part 29: The Gold Standard in the 19th Century, by Richard M. Ebeling, Freedom Daily, May 1999
Monetary Central Planning and the State, Part 30: The Gold Standard as Government-Managed Money, by Richard M. Ebeling, Freedom Daily, Jun 1999
Monetary Central Planning and the State, Part 31: Ludwig von Mises on the Case for Gold and a Free Banking System, by Richard M. Ebeling, Freedom Daily, Jun 1999
Related Topic: Ludwig von Mises
Related Topic: Ludwig von Mises
Monetary Central Planning and the State, Part 33: Murray N. Rothbard and the Case for a 100 Percent Gold Dollar, by Richard M. Ebeling, Freedom Daily, Sep 1999
Related Topic: Murray N. Rothbard
Related Topic: Murray N. Rothbard
The Case for the Barbarous Relic, by Llewellyn H. Rockwell, Jr., Mises.org Daily Article, 21 Mar 2006
"We do not lack plans to restore sound money. Indeed, defining the dollar as a fixed weight of gold and eliminating the power of the Fed to print money is all that is necessary. What we lack is the political will to do so. A gold standard would be the single best reform we could make to the cause of freedom."
"We do not lack plans to restore sound money. Indeed, defining the dollar as a fixed weight of gold and eliminating the power of the Fed to print money is all that is necessary. What we lack is the political will to do so. A gold standard would be the single best reform we could make to the cause of freedom."
The Federal War on Gold, Part 1, by Jacob G. Hornberger, Freedom Daily, Aug 2006
Related Topics: Inflation, Money
"One, the gold standard eliminated the power of federal officials to do what governments had historically done to their citizenry — plunder and loot the people through the issuance of depreciating paper money. Two, the gold standard had an enormously positive effect on capital markets ..."
Related Topics: Inflation, Money
"One, the gold standard eliminated the power of federal officials to do what governments had historically done to their citizenry — plunder and loot the people through the issuance of depreciating paper money. Two, the gold standard had an enormously positive effect on capital markets ..."
The Federal War on Gold, Part 3, by Jacob G. Hornberger, Freedom Daily, Oct 2006
Related Topic: Franklin Delano Roosevelt
"... the Framers had implemented a gold standard so that the American people would be forever protected from the destructiveness of inflation. It was the gold standard — that is, the requirement that the federal government redeem all its paper notes and bills in gold — that had operated as a restraint on government's ability to print ever-increasing amounts of paper money."
Related Topic: Franklin Delano Roosevelt
"... the Framers had implemented a gold standard so that the American people would be forever protected from the destructiveness of inflation. It was the gold standard — that is, the requirement that the federal government redeem all its paper notes and bills in gold — that had operated as a restraint on government's ability to print ever-increasing amounts of paper money."
The Gold-Plated Sting, by Gary North, 3 Mar 2007
"The gold standard was a restraint on governments . . . until the governments grew tired of the restraint. The gold standard was a restraint on privately owned ... banks after governments turned their nations' gold over to the central banks . . . until the central bankers grew tired of the restraint. The modern gold standard was therefore from day one a gigantic con job."
"The gold standard was a restraint on governments . . . until the governments grew tired of the restraint. The gold standard was a restraint on privately owned ... banks after governments turned their nations' gold over to the central banks . . . until the central bankers grew tired of the restraint. The modern gold standard was therefore from day one a gigantic con job."
What the Price of Gold is Telling Us, by Ron Paul, 25 Apr 2006
Speech before the U.S. House of Representatives
"One of the strongest restraints against unnecessary war is a gold standard. ... The harmful effects of the business cycle are virtually eliminated with an honest gold standard. ... Saving and thrift are encouraged by a gold standard; and discouraged by paper money. ... Speculative financial bubbles are characteristic of paper money -- not gold."
Speech before the U.S. House of Representatives
"One of the strongest restraints against unnecessary war is a gold standard. ... The harmful effects of the business cycle are virtually eliminated with an honest gold standard. ... Saving and thrift are encouraged by a gold standard; and discouraged by paper money. ... Speculative financial bubbles are characteristic of paper money -- not gold."
"Bad Money Drives Out Good", by Charles W. Adams, Freedom Daily, Dec 2003
Related Topics: Money
Explains Gresham's Law, recounting how Queen Elizabeth I restored pure silver coinage and how the Romans debased the Greek silver drachma
"... in the end the Roman government had to go back to gold and mint a new gold denarius. Since then, gold has remained the basis for all sound revenue systems, and, despite arguments to the contrary, most governments today have pursued a policy of minting phony coinage or printing worthless paper."
Related Topics: Money
Explains Gresham's Law, recounting how Queen Elizabeth I restored pure silver coinage and how the Romans debased the Greek silver drachma
"... in the end the Roman government had to go back to gold and mint a new gold denarius. Since then, gold has remained the basis for all sound revenue systems, and, despite arguments to the contrary, most governments today have pursued a policy of minting phony coinage or printing worthless paper."
George W. Bush's Nixonomics, by Gregory Bresiger, Mises.org Daily Article, 22 May 2006
Related Topics: Richard M. Nixon, George W. Bush, Social Security Tax
"The United States under Nixon, and predecessor presidents Lyndon Johnson and John Kennedy, was cheating on the promises of a gold standard, using other nations to disguise its own deficits. It was a system that allowed Americans to pay foreigners in depreciated dollars, while foreigners had to settle debts in gold or in another currency other than their own."
Related Topics: Richard M. Nixon, George W. Bush, Social Security Tax
"The United States under Nixon, and predecessor presidents Lyndon Johnson and John Kennedy, was cheating on the promises of a gold standard, using other nations to disguise its own deficits. It was a system that allowed Americans to pay foreigners in depreciated dollars, while foreigners had to settle debts in gold or in another currency other than their own."
Milton Friedman, 1912-2006, by Hans F. Sennholz, 7 Dec 2006
Related Topics: Milton Friedman
"What Professor Friedman called the 'dethroning' of gold was, in truth, the default of central banks to make good on their legal and contractual obligations. Following the example set by the United States on August 15, 1971, central banks all defaulted in their duty to redeem their currencies in gold. The default, unfortunately, did not bring stability and prosperity ..."
Related Topics: Milton Friedman
"What Professor Friedman called the 'dethroning' of gold was, in truth, the default of central banks to make good on their legal and contractual obligations. Following the example set by the United States on August 15, 1971, central banks all defaulted in their duty to redeem their currencies in gold. The default, unfortunately, did not bring stability and prosperity ..."
The End of Dollar Hegemony, by Ron Paul, 15 Feb 2006
Related Topics: Money, Federal Reserve System, Imperialism, Inflation
Speech before the U.S. House of Representatives, explaining how the U.S. dollar became accepted as the world's reserve currency
"The U.S. ... printed more dollars for which there was no gold backing. But the world was content to accept those dollars for more than 25 years with little question-- until the French and others in the late 1960s demanded we fulfill our promise to pay one ounce of gold for each $35 they delivered to the U.S. Treasury. This resulted in a huge gold drain that brought an end to a very poorly devised pseudo-gold standard. It all ended on August 15, 1971, when Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold."
Related Topics: Money, Federal Reserve System, Imperialism, Inflation
Speech before the U.S. House of Representatives, explaining how the U.S. dollar became accepted as the world's reserve currency
"The U.S. ... printed more dollars for which there was no gold backing. But the world was content to accept those dollars for more than 25 years with little question-- until the French and others in the late 1960s demanded we fulfill our promise to pay one ounce of gold for each $35 they delivered to the U.S. Treasury. This resulted in a huge gold drain that brought an end to a very poorly devised pseudo-gold standard. It all ended on August 15, 1971, when Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold."
The New Deal and Roosevelt's Seizure of Gold: A Legacy of Theft and Inflation, Part 2, by William L. Anderson, Freedom Daily, Sep 2006
Related Topics: Franklin Delano Roosevelt
"Since the gold standard included requirements that the country's money supply have at least a 40 percent gold backing, a drain on gold reserves would have forced the government to stop printing so many dollars. Therefore, the plans of the New Dealers ran headlong into the reality of the gold standard and its check on inflation."
Related Topics: Franklin Delano Roosevelt
"Since the gold standard included requirements that the country's money supply have at least a 40 percent gold backing, a drain on gold reserves would have forced the government to stop printing so many dollars. Therefore, the plans of the New Dealers ran headlong into the reality of the gold standard and its check on inflation."
The Organization of Debt into Currency: On the Monetary Thought of Charles Holt Carroll, by Robert Blumen, Mises.org Daily Article, 27 Apr 2006
Related Topics: Money
"To put and end to recurring financial crises, and to restore the nation to sound and honest principles of trade, Carroll advocated a bullion standard, with the dollar defined as a fixed weight of gold. '... As gold and silver form the acknowledged money of the world, we can do no better than to use them in their standard purity ...'"
Related Topics: Money
"To put and end to recurring financial crises, and to restore the nation to sound and honest principles of trade, Carroll advocated a bullion standard, with the dollar defined as a fixed weight of gold. '... As gold and silver form the acknowledged money of the world, we can do no better than to use them in their standard purity ...'"
Under the Shadow of Inflationomics, by Hans F. Sennholz, Mises.org Daily Article, 1 Jun 2006
Related Topics: Inflation, George H. W. Bush, George W. Bush, James Earl "Jimmy" Carter, Bill Clinton, Richard M. Nixon, Ronald W. Reagan
"A full gold standard was in effect from 1900 to 1933. The Legal Tender Act of 1933 made all American coins and paper money 'legal tender' which must be accepted at face value by creditors in payment of any debt, public or private. The Gold Reserve Act of 1934 stipulated that gold could no longer be used as a medium of domestic exchange ..."
Related Topics: Inflation, George H. W. Bush, George W. Bush, James Earl "Jimmy" Carter, Bill Clinton, Richard M. Nixon, Ronald W. Reagan
"A full gold standard was in effect from 1900 to 1933. The Legal Tender Act of 1933 made all American coins and paper money 'legal tender' which must be accepted at face value by creditors in payment of any debt, public or private. The Gold Reserve Act of 1934 stipulated that gold could no longer be used as a medium of domestic exchange ..."
Videos
GMU's Lawrence H. White on Free Banking and the Gold Standard (11/18/10) , by Lawrence H. White, 18 Nov 2010
Related Topics: Banking, Central Banking
Central Banking vs. Free Banking and the Gold Standard, presentation by Lawrence H. White, Professor of Economics, George Mason University, at the Cato Institute's 28th Annual Monetary Conference