⁣If the philosophy of a previously-free nation changes for the worse–i.e., toward authoritarianism–such that voters demand that government exert free rein in money and public finance, with unlimited scope for fiscal profligacy, any type of gold standard will have to relent. This traditional bulwark of monetary integrity and solidity will be countered, coopted, and crushed. The gold standard wasn’t suspended in 1933-34 because it caused the Great Depression or the wave of bank failures, nor did it disappear in 1971 because it somehow “didn’t work” anymore. It’s been gone since 1971 because fiscal alchemists in charge of profligate states couldn’t make it work like magic, meaning: they couldn’t expand the gold supply as much as they expanded government.

Film based on an essay by Richard M. Salsman
https://www.aier.org/article/a-tragic-half-century-without-gold-money/

Film Creators: Kate Wand & W.G. Gervais
very-opinionated.com

aier.org

The Gold Standard & Limited Government | Kate Wand