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The Case for a Gold Currency: Part 1
THE CASE FOR A GOLD CURRENCY: PART 1 The gold standard is a system where the nation’s money supply is determined by the supply of gold that is mined. Over time we have had different types of gold standard economies and countries have even suspended the gold standard during wars (e.g.: WWI). Until WWI the […]
Consequences of Replacing the Gold Standard with the PhD Standard
Consequences of Replacing the Gold Standard with the PhD Standard In 2011, Jim Grant chastised the Fed about replacing the Gold Standard with the PhD Standard. Our “reward” is coming up. Here is the pertinent video clip of James Grant. “The 2007-2009 real estate debacle is the monetary equivalent of a chain reaction on a […]
A Brief (and Messy) History of Modern Gold Standards
A BRIEF (AND MESSY) HISTORY OF MODERN GOLD STANDARDS Although gold prices hit a new high in mid-January, Americans, by and large, are still reluctant about gold. They don’t quite “get it.” This incomprehension is different than that of Americans not “getting,” for example, bitcoin (as few seem to). They may understand gold as a safe haven […]
Gold Standard Resulted In “Fewer Catastrophes” – FT
Gold Standard Resulted In “Fewer Catastrophes” – FT 300 years ago last week on the 21st September, 1717 Sir Isaac Newton, Master of the Royal Mint of Great Britain, accidentally invented the gold standard. Last month it was the 46th anniversary of President Nixon ending the gold standard. Since then the world has existed on […]
Petrodollar Under Attack
Petrodollar Under Attack (ANTIMEDIA Op-ed) — Once upon a time, the U.S. dollar was backed by the gold standard in a framework that established what was known as the Bretton-Woods agreement, made in 1944. The dollar was fixed to gold at a price of $35 an ounce, though the dollar could earn interest, marking one notable difference from gold. We’re […]
The Golden Revolution, Revisited
THE GOLDEN REVOLUTION, REVISITED The latest edition of The Golden Revolution is available from Amazon here https://www.amazon.com/dp/1535608994 Back in 2012 John Wiley and Sons published my first book, The Golden Revolution, the core thesis of which was that a longer-term consequence of the global financial crisis of 2008 would be the remonetization of gold. This would […]
Lord Liverpool and the Return to Gold
LORD LIVERPOOL AND THE RETURN TO GOLD The following is an excerpt from Martin Hutchinson’s forthcoming book, “Britain’s Greatest Prime Minister”, a biography of Robert Banks Jenkinson, 2nd Earl of Liverpool (1770-1828). Lord Liverpool was Prime Minister from 1812 to 1827 and had led Britain through the later part of the Napoleonic Wars. The following […]
Government Monopoly Money vs. Personal Choice in Currency
GOVERNMENT MONOPOLY MONEY VS. PERSONAL CHOICE IN CURRENCY For more than two hundred years, practically all of even the most free market advocates have assumed that money and banking were different from other types of goods and markets. From Adam Smith to Milton Friedman, the presumption has been competitive markets and free consumer choice are […]
Alan Greenspan: Ron Paul Was Right About The Gold Standard
Alan Greenspan: Ron Paul Was Right About The Gold Standard As John Rubino eloquently puts it, “when the history of these times is written, former Fed Chair Alan Greenspan will be one of the major villains, but also one of the greatest mysteries. This is so because he has, in effect, been three different people.” Greenspan started […]
Trump Left Saudi Arabia Off His Immigration Ban… Here’s the Shocking Reason Why
Trump Left Saudi Arabia Off His Immigration Ban… Here’s the Shocking Reason Why On August 15, 1971, President Nixon killed the last remnants of the gold standard. It was one of the most significant events in US history—on par with the 1929 stock market crash, JFK’s assassination, or the 9/11 attacks. Yet most people know […]
Alan “Bubbles” Greenspan Returns to Gold
Alan “Bubbles” Greenspan Returns to Gold Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. […] The abandonment of the gold standard made it possible for the welfare statists to use the […]
While America Debates the $20 Bill, China Moves Closer to Gold
While America Debates the $20 Bill, China Moves Closer to Gold On Wednesday, Jack Lew announced that the US Treasury was following Ben Bernanke’s advice and keeping Alexander Hamilton on the $10, instead deciding to bring Harriett Tubman to the $20. While Lew’s news left America distracted in debate over whose portrait should grace the Federal Reserve’s most popular […]
Onward to a Golden Age: The Washington Post’s Matt O’Brien Attacks Ted Cruz for Supporting the Gold Standard
ONWARD TO A GOLDEN AGE: THE WASHINGTON POST’S MATT O’BRIEN ATTACKS TED CRUZ FOR SUPPORTING THE GOLD STANDARD Matt O’Brien — the anti-gold standard columnist ofThe Washington Post — at last has struck back at Ted Cruz for his advocacy for a “rules-based monetary supply, ideally tied to gold.” O’Brien’s reactionary blast was fully expected and somewhat […]
