Nixon promised jobs, stable prices, and protection for the dollar. His “fixes” helped usher in a new era of inflation, debt, and monetary instability.
โข
President Nixon abandoned the gold standard. The deeper problem was a monetary system dependent on political judgment.
โข
The strongest objections to fiat money are moral and institutional, not legal. Inflating a currency erodes trust over time, but it isn’t counterfeiting.
โข
The dollar’s lost half its value and the price of gold exploded since our author first warned that politicians are ruining our purchasing power.
โข
The new levy rattled global markets, but that may be just the beginning. History teaches us to be wary when the government targets gold.
โข
While in theory, fiat money may be cheaper to maintain than a gold standard, in practice, central banks fail to deliver long-run price stability.
โข
‘Good as Gold’ makes the case for exchangeability. Currency should be a standard the people can rely on, not a lever for the powerful.
โข
“In 1954, Harwood testified in the US Senate about the ‘advantages of returning to the full gold standard with the nationโs currency redeemable in gold coin on demand,’ as it had been throughout most of the nationโs history before the New Deal.” ~Robert E. Wright
โข
“Russia and China are leading an effort to not only strengthen cooperation between the five nation BRICS core but to expand the membership of BRICS into a โBRICS+.โ” ~ Peter C. Earle
“If a large subset of countries, like the BRICS, adopted the retail gold standard, the United States and the European Union would have to join, or watch demand for their fiat currencies decline.” ~ Robert E. Wright and Byron B. Carson III
Nixon promised jobs, stable prices, and protection for the dollar. His “fixes” helped usher in a new era of inflation, debt, and monetary instability.
โข
President Nixon abandoned the gold standard. The deeper problem was a monetary system dependent on political judgment.
โข
The strongest objections to fiat money are moral and institutional, not legal. Inflating a currency erodes trust over time, but it isn’t counterfeiting.
โข
The dollar’s lost half its value and the price of gold exploded since our author first warned that politicians are ruining our purchasing power.
โข
The new levy rattled global markets, but that may be just the beginning. History teaches us to be wary when the government targets gold.
โข
While in theory, fiat money may be cheaper to maintain than a gold standard, in practice, central banks fail to deliver long-run price stability.
โข
‘Good as Gold’ makes the case for exchangeability. Currency should be a standard the people can rely on, not a lever for the powerful.
โข
“In 1954, Harwood testified in the US Senate about the ‘advantages of returning to the full gold standard with the nationโs currency redeemable in gold coin on demand,’ as it had been throughout most of the nationโs history before the New Deal.” ~Robert E. Wright
โข
“Russia and China are leading an effort to not only strengthen cooperation between the five nation BRICS core but to expand the membership of BRICS into a โBRICS+.โ” ~ Peter C. Earle
“If a large subset of countries, like the BRICS, adopted the retail gold standard, the United States and the European Union would have to join, or watch demand for their fiat currencies decline.” ~ Robert E. Wright and Byron B. Carson III
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