For anyone who imagines that the US gold hoard might be used to pay off some significant portion of the national debt, this is going to be a big disappointment.
The world‘s trading systems are broken, thanks to fiat currencies and the reckless deficit spending by the US Government. There is a way out; it is called settling accounts in gold, which would force fiscal sanity once more.
Ryan is joined by Economist and Mises Institute Fellow Kristoffer Hansen to discuss what would have happened if Argentina President Javier Milei had immediately shut down the country’s central bank. The same holds for every other central bank, as well.
The US government’s gold stockpile is not backing up the US dollar. The demand for US debt and currency is largely based on the state’s taxation power. It’s not based on gold at all.
The US government’s gold stockpile is not supporting the US dollar. The demand for US debt and currency is largely based on the state’s taxation power. It’s not based on gold.
In a recent New York Times column, Dartmouth professor Brooke Harrington claimed that Trump is undoing trust in our institutions while Franklin Roosevelt restored it. Clearly, Harrington doesn‘t know much about FDR—or Trump.
Franklin Roosevelt’s attacks on the gold standard ushered in “the age of inflation” that has now robbed generations of Americans through the inflation tax.
