=The Case for Gold
The Case for Gold is not simply an argument for returning to the gold standard, but more importantly, an argument for choice and competition. Preserving the ability to choose which currencies to accept, with whom to trade and on what terms, is a hallmark of a free society. Sadly these freedoms are among the many that have been compromised, if not lost completely. Paul and Lehrman remind us that when government has the ability to abuse our trust, as in the case of purchasing its own debt or debasing its currency, it will inevitably betray that trust. In a more general sense, The Case for Gold is the case for limited government, a case for applying the rule of law to our monetary arrangements, as opposed to the highly discretionary rule of man which now governs our monetary system. With the public’s renewed interest in constitutional government, it is only fitting that such an interest extends to money.
Murray Rothbard’s superb history of money and banking constitutes chapters two and three of The Case for Gold. This history reminds us that the citizens of the United States have been subjected to repeated inflations and debasements, most often in the cause of war but also to the benefit of Wall Street. Today, we again we find ourselves burdened with war debts and Wall Street bailouts. As Santayana said, “those who cannot learn from history are doomed to repeat it.” If we are to avoid future debasements, and perhaps even wars and financial bailouts, an understanding of our monetary history is essential. I can think of no better place to begin one’s study of that history than Rothbard’s contributions contained here.
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https://www.cato.org/case-for-gold
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http://books.google.com/books/download/The_case_for_gold.pdf?id=PEere3j30_oC&output=pdf&sig=ACfU3U1p97Mma095MdP8Ka9UHY3hRRSIhQ