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I saw this on an anti-Ron Paul site today. Some marxist said if America goes back to the gold standard it would either have to buy up all the gold on earth or it would have to find a way to take money out of circulation in order for the amount of money to equal the amount of gold. Is this true?
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I've been wondering for some time now why people don't currently use gold, silver, platinum, bananas, or whatever as a medium for exchange instead of dollars, euros, yen, etc. Are there laws in place forcing people to trade in dollars? There are plenty of other things available that could be...
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Hi all, I am a longtime reader of this website. I became interested in Austrian economics while studying for an economics degree at university. As you all well know, the standard college econ curriculum is all but useless in terms of its ability to actually inform ones opinions on the topic. Luckily...
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I've been trying to read Krugman's book (I find it heavy on rhetoric and short on logic) and have been thinking about this babysitter analogy. I see you point about the price-fixing. Maybe I'm wrong, but it seems to me there are other problems as well. In this analogy, the money is originally...
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See Rothbard's What Has Government Done to Our Money . When a regular person buys a government bond, that person is spending money they had to have somehow received beforehand from someone else. That is, it must have been money that was already in circulation. When the Federal Reserve buys government...
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[quote user="Norak"]Wouldn't it be better to simply buy land in the country, stockpile on food, guns, water, and so on? You can't eat gold.[/quote] Possibly. However, not everybody can buy land or grow their own vegetables. Therefore, gold serves the rest of us who need to trade. The...