The Gold Standard 

When Pakistan gained independence, it entered a financial system in which the odds were stacked against it. As the financial system changes almost every 40 years, it is vital to analyse its history and mechanism in order to understand the dynamics that influence Pakistan.

During the classical gold standard (1817-1914) currencies were pegged to gold, and the elasticity of the currency was determined through it. A gold standard impels governments to be responsible: Investors that hold bonds can redeem gold if politicians Read more

History shows us that all fiat money (just paper, or base-metal coins; no precious metal ‘backing’) always fails by losing its purchasing power, usually due to excess creation of new money; this is called ‘monetary inflation’ (which leads to ‘price inflation’ because the currency becomes worth less).

We saw it recently in the hyperinflation in Zimbabwe. Germany did it in 1919, and France in 1716 and 1793, and there are many others. Now the Euro currency is failing due to excess spending and borrowing of many European Read more

Casey Research interviews economics professor, author, and columnist Walter Williams:

From Wikipedia:  Reason has called Williams "one of the country’s leading libertarian voices." In 2009, Greg Ransom, a writer for the Ludwig von Mises Institute, ranked Williams as the third most important "Hayekian" Public Intellectual in America, behind only Thomas Sowell and John Stossel.

CR: Will we ever return to fiscal responsibility when there is no constraint on how many dollars can be produced? Read more

Have you ever wished you hadn’t had to unlearn fiat-money propaganda? That someone had stepped in and told you sound from unsound when you were a child? Do you think the kids of today should learn about sound money right from the get-go? A new book, Treasure Hunt in the Enchanted Forest: The Search for Good Money, does just that.

It starts off with a bit of childish mischief that’s a fairly good encapsulation of real inflation. While playing Enchanted Forest Monopoly, Reese the Owlet decides to get the better of her br Read more