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Hmmm.. it is becoming interesting... Well, in regards to scarcity of gold, who said it should be gold.. or gold only? It could be several metals, gold, silver, platinum.... (anything else?) I can imagine several weight units of every metal (1 gm, 5 gm, 10 gm,... etc.) and free evaluation of each metal...
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What bothered me the most about this podcast was the core basis for Irwin's paper: " This conclusion is supported by two compelling observations: countries not on the gold standard managed to avoid the Great Depression almost entirely, while countries on the gold standard did not begin to recover...
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It seems to me that nowadays, with the current economic situation, there is some "passion" for the gold standard as a solution to all problems the world is currently facing whether on international, national or even individual level. Taking into consideration the above mentioned points, let...
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Hi all, I am looking for books to read on the subject of money to get an in depth understanding of it. Here is one question I am trying to understand. I have recently started reading Austrian Economics works. I just finished Rothbard's "What has Government Done to Our Money?" and it went...
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The question of course is how much gold does the US Government have? Given that Ft. Knox has never been properly audited. What a great question - Why in the world would the US Government, currently the world's largest debtor, hold on to physical reserves of gold? (that it confiscated from private...
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I've done a bit of thinking on the subject, and have come to the conclusion that paper currency is unnecessary. Why do we need something called a "dollar" or a "peso" or a "euro". Why can't we simply trade precious metals in the form of coins or bars? They need not...
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http://www.youtube.com/watch?v=pBI1fv8YrzU That's the 'How is Fiat Money Possible' lecture by Hoppe In the last 10 minutes he says something about money market securities and futures contracts not being possible under a gold standard. I don't know if he agreed or disagreed with it. Please...
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Does anyone know of a book that explains the Gold Standard's role in history? Not just for the US, but around the world as well. I would like to read a book that shows how the Gold Standard was used around the world, and how its application affects the countries. Thanks, Ross
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I understand the need for sound money. That hit me as clear as a punch on the nose, so there’s no need to go into that at all. What I want to do is understand why carefully targeted ‘stimulus spending’ is necessarily bad, both under a gold standard and under fiat money. I’m going...
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Inquiry & Analysis. I am interested in a discussion of the foundations of the Austrian view- as the participants of this forum understand them. I have been reading in this area and I have a lot of material at my disposal; so I am not seeking links or suggested reading; I have fundamental questions...