Gold Standard

Gold was only included in the plans for the Bretton Woods system because of the veneer of solidity it gave. Original Article: "Bretton Woods and the Spoliation of Europe" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

The gold standard supposed a limit to the fiscal voracity of governments, and suspending it unleashed the perverse proclivity of the states toward indebtedness and to pass the current imbalances on to future generations. Original Article: "The End of the Gold Standard. Fifty Years of Monetary Insanity" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Nixon’s closing the gold window should be seen as the end of the last remnant of the gold standard, not some kind of market failure. Governments controlled most of the gold and set its price. Original Article: "The Demise of the Gold Standard" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

In a 2019 article, Bob quoted Mises who believed that new gold discoveries, in principle, could cause a (small) boom-bust cycle if the gold hit the loan market before other sectors. Walter Block and Bill Barnett have responded in a new article, arguing that in a free market, new commodity money can't cause such distortions. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interviewBob’s 2019 QJAE article, which Block & Barnett (2020) criticizesBob’s blog post explaining why Block & Barnett (2020) misunderstands his argument in his 2019 QJAE paperBob Murphy Show ep. 67, in which Block and Barnett explained their problems with the Hayekian triangleRothbard’s classic essays on utility & welfare economics and the legal treatment of air pollutionBlock and Barnett’s paper on the optimal quantity of moneyOne entry in Block and Barnett’s debate over maturity mismatching; it contains references to the earlier volleys for the interested reader. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago.  Original Article: "The Dollar's Reserve Currency Status Won't Last Forever" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

A store of value is not necessarily a medium of exchange, and in our current fiat money system, gold is not money. But it has most of the desirable properties of money, and there is much to learn form the process of how it became money in the past. Original Article: "Is Gold Money?" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

A free market in money means real freedom to choose what money we use.  This may mean people turn to gold and silver. Or they may turn to crypto. What's important is that it's market-based money. Original Article: "Why We Need a Free Market in Money​" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

Money printing—even at a constant rate—is going to generate the same result as any other money printing. The reason lies in the fact that money creation transfers wealth from productive to unproductive enterprises. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: "Printing Money at a "Constant" or "Stable" Rate Won't Prevent Boom-Bust Cycles".

Bob explains some of the highlights of his newly released chapter for the Mises Institute book on “Understanding Money Mechanics.” He explains the operation of the classical gold standard, as well as some of the issues of US bimetallism during the 1800s. Mentioned in the Episode and Other Links of Interest: Bob’s new essay on the gold standardBob’s book on capitalism #CommissionsEarned (as an Amazon Associate I earn from qualifying purchases)Bob on the 1920–21 Depression For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

Economist Robert Murphy joins the show to cover Rothbard's excellent treatment of money in Chapter 11 of Man, Economy, and State. Dr. Murphy and Jeff cover why "hoarding" money is socially beneficial; why the velocity of money (and the famous MV=PT equation) is a useless concept, and how new money in society is never neutral. How and why does money maintain purchasing power, and does the interest rate really show the "price" of money? Why do we want "hard" money anyway? This is the show you need to better understand Rothbard's landmark exposition of money in an Austrian framework. Read the book free of charge in searchable HTML format here. Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES Additional Resources Hans-Hermann Hoppe on Hutt's "The Yield from Money Held": Mises.org/HoppeHutt Bob Murphy's study guide to Man, Economy, and State: Mises.org/StudyMES​ Man, Economy, and State: Mises.org/MES

Fed bugs sound like real estate agents in reverse: there is never a good time to buy gold. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: "Why Fed Bugs Really, Really Hate Gold​".

There are some reasons to be optimistic about the future of free market money. On the other hand, the world's governments will fight true currency competition every step of the way. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: "Why Governments Hate Currency Competition".

Central bankers dismiss gold as a relic, even as they buy up more of it. Politicians dismiss gold as money they don't control and can't expand. Holders dismiss gold as outdated tech. And investors dismiss gold as a static metal paying no yields. So why does gold still matter? Why does it hold value over millennia? Why does it threaten inflationist governments? Why does it seem to be flowing West to East? Why does an ounce of it still trade for more than $1,000, if the critics are right? This is the comprehensive show on gold and its enduring role in today's economy, with Keith Weiner of Monetary Metals.

Ryan McMaken interviewed by Daniel Brigman on The Power Hour radio show. Produced by www.gcnlive.comTopics for this wide ranging interview include: booms and busts, private money, bitcoin, central banks, Brexit, protectionist policy under Trump, and trade barriers. 

Recorded at the Mises Institute in Auburn, Alabama, on 29 July 2016.

Thirty-five years ago, Ron Paul and Lewis Lehrman published The Case for Gold, their minority report from Reagan's gold commission. Today, Jim Rickards has written The New Case for Gold, an uncompromising call for using gold as money and reestablishing a gold standard for central banks.In this wide-ranging interview, Jeff Deist and Jim Rickards discuss gold in the context of current geopolitics and enduring myths about monetary growth. While the "anti-gold reflex" is strong among older generation monetary economists in the west, a new gold-friendly order is emerging in Asia. Jeff and Jim even discuss whether Hillary will be indicted, leading to a Joe Biden/Elizabeth Warren ticket. This is a fascinating interview that you won't want to miss.

New technologies, such as the blockchain technology behind digital currencies like bitcoin, may in the future facilitate the convenient use of precious metals as money once again, writes Thorsten Polleit.This audio Mises Daily is narrated by Ben Wiegold.

Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved. Narrated by Jeff Riggenbach. Includes "The Case for a 100% Gold Dollar" by Murray N. Rothbard. This audiobook is also available on iTunes and Google Play.

Recorded at the Mises Institute in Auburn, Alabama, on 24 July 2015.

Interviewed by host Elijah Johnson, Mark Thornton explains how the Austrian view of economics contrasts with the mainstream view, how you cannot have a truly free market without sound money, and how competing currencies could benefit our economy now.This is part one of a two part interview.

Interviewed by host John O'Donnell, Patrick Barron discusses how switching to sound money could change the global economy for the better.

Jeff Deist and Claudio Grass discuss the uniquely Swiss mindset behind the upcoming Swiss gold referendum, and how decentralization of political power is part of Swiss DNA; the tremendous geopolitical aftershocks that would occur if the referendum passes — including the physical repatriation of gold to Switzerland; and how the Swiss people may be waking up to the sellout of their country by the Swiss National Bank and the IMF.

From the session on "Studies in Economic History," presented at the Austrian Economics Research Conference. Recorded 22 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.

Presented at the Mises Circle in Manhattan, hosted by the Ludwig von Mises Institute and sponsored by the Story Garschina Charitable Fund, and Anonymous Donor.Recorded on Friday, 14 September 2012, at the Metropolitan Club in New York City.

From Part II of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Origins of the Federal Reserve". Narrated by Matthew Mezinskis.

From Part II of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Origins of the Federal Reserve". Narrated by Matthew Mezinskis.

From Part III of A History of Money and Banking in the United States: The Colonial Era to World War II: "From Hoover to Roosevelt: The Federal Reserve and the Financial Elites ". Narrated by Matthew Mezinskis.

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Gold-Exchange Standard in the Interwar Years". Narrated by Matthew Mezinskis.

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Gold-Exchange Standard in the Interwar Years". Narrated by Matthew Mezinskis.

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Gold-Exchange Standard in the Interwar Years". Narrated by Matthew Mezinskis.

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Gold-Exchange Standard in the Interwar Years". Narrated by Matthew Mezinskis.

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Gold-Exchange Standard in the Interwar Years". Narrated by Matthew Mezinskis.

From Part IV of A History of Money and Banking in the United States: The Colonial Era to World War II: "The Gold-Exchange Standard in the Interwar Years". Narrated by Matthew Mezinskis.

Announcing that 50 million Americans are uninsured means nothing. It could be our government's involvement that has led to the current situation, writes Charlie Virgo. This audio Mises Daily is narrated by Keith Hocker.

Recorded at the Ludwig von Mises Institute; Auburn, Alabama; 8 October 2010.

Recorded at FreedomFest, 10 July 2010. Includes an introduction by Douglas E. French.

Compares and contrasts the principles and performance of alternative international monetary systems, including the classical gold standard, the gold-exchange standard, fluctuating national fiat currencies, and a global fiat currency. Shows the superiority of a hard-money gold standard over the historical and proposed alternatives. Recorded at Mises University 2010.

From Part I of A History of Money and Banking in the United States: The Colonial Era to World War II: "The History of Money and Banking Before the Twentieth Century". Narrated by Matthew Mezinskis.

The state makes a mess of everything it touches. Examples from the book include how and why the "hot" water in our homes became lukewarm and what can be done about it, and how traffic laws became a racket for extracting wealth from the population, writes Jeffrey A. Tucker.This audio Mises Daily is narrated by Steven Ng.

The international gold standard works without any action on the part of governments. It is effective, real cooperation of all members of the world-embracing market economy. There is no need for any government to interfere, writes Ludwig von Mises (1881–1973).This audio Mises Daily is narrated by Jeff Riggenbach.

The attempts to create a double standard of gold and silver failed lamentably. It was this failure that generated the gold standard — a manifestation of a crushing defeat of the governments and their cherished doctrines, writes Ludwig von Mises (1881–1973).This audio Mises Daily is narrated by Jeff Riggenbach.

Congress decreed that gold and silver dollars should be interchangeable and put upon the Treasury a mandate to keep them equal in value. How? By what magic? Why, by the magic of a phrase, writes Garet Garrett (1878–1954).This audio Mises Daily is narrated by Jeff Riggenbach.

Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009. Sponsored by Ron Wilson, and Professional Planning of Easley, LLC.

Recorded at the Mises Circle in Houston, Sponsored by Jeremy S. Davis; Saturday, 24 January 2009.

Recorded in Houston, Texas; October 27, 1984.

Recorded at the Toronto Stock Exchange; September 16-17, 1999. [20:57]