Gold: The Once and Future Money (Agora Series)
After World War II, all currencies in the world were fixed to the dollar, which in turn was backed by gold. In principle, anyone holding dollars could exchange them for gold. This didn’t last given the chronic, large trade surpluses run in the 1960s by export-dependent countries such as Japan, then the emerging world power in trade much as China is
... See moreRichard Haass • The World
Today’s fiat currencies emphatically meet the above bubble criteria. The prices of government bonds denominated in euro, yen and dollars have risen to extraordinary levels (which is the same as saying interest rates have been forced to extraordinarily-low levels). And befitting its size and scope, this bubble is rationalized with two popular mantra
... See moreJohn Rubino • The Money Bubble
The gold standard allowed for unprecedented global capital accumulation and trade by uniting the majority of the planet's economy on one sound market‐based choice of money. Its tragic flaw, however, was that by centralizing the gold in the vaults of banks, and later central banks, it made it possible for banks and governments to increase the supply
... See moreSaifedean Ammous • The Bitcoin Standard: The Decentralized Alternative to Central Banking
For a hard-core group of gold bugs fiat money is in so much trouble it is a matter of urgency that the world should return to the system of gold-backed money that dominated the global economy at the end of the 19th century. Much of their argument — made by the likes of the Gold Standard Now campaign — rests on gold's track record over many centurie
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