Unconventional Guide: Gold as Money
Today, gold is widely regarded as archaic and if useful, to be only worn as jewelry or used to discredit those who value fiscal discipline. After all, you can’t eat gold, I’m told. But to deny its value in suppressing runaway deficits, in promoting human freedom, and preserving purchasing power, among other uses, is to commit intellectual fraud.
Why did dictators such as Mussolini, Hitler, and Lenin, in one of their first decrees, outlaw individual ownership of gold? Why was gold and silver explicitly noted in the US Constitution that “no state shall…make any Thing but gold and silver” legal tender? Is defining gold as money really a throwback to an outmoded way of thinking only to be eclipsed by the current worldwide system of fiat currencies, or is the converse true?
Although conventional wisdom may dispute gold’s role as a monetary metal, the authors below upend that idea by rebutting all the traditional arguments.
- Dr. Paul’s Case for Gold — Llewellyn H. Rockwell Jr.
- Gold and Economic Freedom — Alan Greenspan
- Human Freedom Rests on Gold Redeemable Money — Howard Buffett
- The Gold Standard — Ludwig von Mises
- The Gold Standard: Myths and Lies — Robert P. Murphy
- Can Gold Cause the Boom-Bust Cycle? — Robert P. Murphy
- Is Gold Money? — Robert Blumen
- Gold: Now That’s a Track Record — Doug French
- The Case for a Genuine Gold Dollar — Murray Rothbard
- Boom, Bust, and Gold — Frank Shostak