If the Fed Won't Give Us Sound Money, Who Will?
Recently, a good friend asked me to describe the recent research on the subject of "sound money." He is referring to money that is not fiat, money that is anchored in something with real value as contrasted to market-determined value.
Historically, the last time the world had any sound money was during the reign of the gold standard. One of the gold standard's most ardent defenders was 20th century economist Edward C. Harwood, who was nicknamed the Father of the Sound Money Movement.
More recently, one of the places one needn't look for research on sound money is the Federal Reserve. My article at Seeking Alpha continues the discussion. (Read the full article.)
Interesting images:
A gold dollar from 1888:
Historically, the last time the world had any sound money was during the reign of the gold standard. One of the gold standard's most ardent defenders was 20th century economist Edward C. Harwood, who was nicknamed the Father of the Sound Money Movement.
More recently, one of the places one needn't look for research on sound money is the Federal Reserve. My article at Seeking Alpha continues the discussion. (Read the full article.)
Interesting images:
A gold dollar from 1888:
A gold-backed paper certificate from 1934:
Current distribution of fiat money around the world:
Labels: gold standard, sound money
posted by Katy Delay at 3:15 PM
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