Gold vs Paper

by Ludwig von Mises, mises.org

"Most people take it for granted that the world will never return to the gold standard. The gold standard, they say, is as obsolete as the horse and buggy... Now whatever virtues one may ascribe — undeservedly — to the modern variety of the greenback standard, there is one thing that it certainly cannot achieve. It can never become a permanent, lasting system of monetary management. It can work only as long as people are not aware of the fact that the government plans to keep it..."

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