A Brief History of the Gold Standard
As evidence mounts that major western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its death will be painful for the highly indebted advanced economies in North America, Europe, and Japan. History and legal precedent tell us that fiat will die, and only gold can provide an anchor to credit values. As always, there are lessons to be learned from monetary history, particularly in the context of credit-dependent post-feudal economies, when in a post-feudal world gold standards evolved … https://www.lewrockwell.com/2025/05/alasdair-macleod/a-brief-history-of-the-gold-standard/
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