Archive for August, 2012

The Gold Standard Goes Mainstream

The Gold Standard Goes Mainstream
By SETH LIPSKY An under-reported development of this campaign season is the Republican Party’s decision this week to send Gov. Mitt Romney into the presidential race on a platform effectively calling for a new gold commission. The realization that America’s system of fiat money is part of...
August 30th, 2012 | Future of Money, History of Money, Money Timeline, Popular Articles, Resources | Read More

Ezra Klein Mistakes the Arsonist for a Firefighter

Ezra Klein Mistakes the Arsonist for a Firefighter
by Steven Horwitz In Friday’s Washington Post, Ezra Klein raises a number of criticisms of the gold standard using as his hook the call for a new Gold Commission that appears in a draft of the new Republican Party platform.  Putting aside the question of party politics and what a new Commission...
August 30th, 2012 | Blogs, Resources | Read More

Gold as a Medium of Exchange and Savings

Gold as a Medium of Exchange and Savings
Written by Lewis E. Lehrman Consider the natural properties of gold.  Gold is durable, homogenous, and fungible.  Indeed, by its intrinsic scientific nature, gold is imperishable, indestructible, and malleable.  Gold has a relatively low melting point, facilitating coinage.  Gold is portable...
August 30th, 2012 | History of Money, Money Timeline, Resources, State of Money | Read More

Sound Money Gains a Champion

Sound Money Gains a Champion
BY JUDY SHELTON   What are the chances that President Barack Obama and his Treasury secretary, Timothy Geithner, will ever have anything meaningful to say about monetary policy​—​beyond continuing to try to coax Federal Reserve chairman Ben Bernanke to print ever more dollars to buy up...
August 28th, 2012 | Popular Articles, Resources | Read More

Money: East vs. West

Money: East vs. West
By Steve H. Hanke A country’s money supply is made up of two distinct components. State money — the monetary liabilities of a central bank (typically referred to as base, or high-powered, money) — is one element, and is by far the smallest component of the money supply. The second and most...
August 28th, 2012 | Popular Articles, Resources | Read More