The Absurd Contradiction of Bimetallism: Gold & Silver

Nevertheless, price depends upon the actual money commodity. Apart from all the little things that may cause disturbances, the tailor can set the price of the coat at 10 grams of gold, if there is that amount of socially necessary labour embodied in such a quantity of gold as in the coat. If the tailor…

Gold Does Not Prevent Price Instability

The primary reason that an-caps choose the gold standard is the belief they have that the ability of governments to print more money causes inflation. It is this ability to inflate currency on demand that causes inflation. This according to them cannot happen if we have a gold standard. Of course this is not what…