A Tragic Half Century Without Gold Money

"Just as economic-monetary systems reflect political systems, for good or ill, so political systems reflect moral-philosophic systems. The philosophic basis of the gold standard includes an individualistic ethic, a widespread love of liberty, robust entrepreneurship, respect for property rights, the maintenance of constitutionally limited government, free trade, and peace. When these features are diluted, disdained, or dismantled, gold-based money necessarily leaves the scene. A once-objective system of real money is displaced by subjective schemes and “virtual” money."

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