On Money: Returning to the Gold Standard
A Seminar with Patrick Barron
December 9, 2008
The only successful currency ever known to man is one that is backed by a commodity of lasting value. All fiat currencies are inherently unstable and lead to massive inflation, unrest, and even societal disintegration. In order to understand why a commodity backed money is so desirable, one must understand the nature of money and how it satisfies the needs of the free market. This seminar will discuss the LOGIC of money, which will lead us to advocating sound money -- that is, commodity backed money -- as one of the three pillars of society, along with laissez-faire economics and limited government.
Sound money is based upon the very nature of man and how he successfully survives in the world. Money arose spontaneously out of man\'s need for indirect exchange. As such, money is part of the market, providing a service to the market and subject to its laws as are all other market goods. Because of its crucial function as never less than one-half of any indirect exchange, money is always under attack by those who distrust and disagree with the outcomes of the market. This seminar will lay the intellectual foundation for defending sound money as part and parcel of a defense of freedom and liberty.
Patrick Barron is an internationally known writer and lecturer on economics, specializing in the banking sector.
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