Ron Paul — the leading champion of sound money in the Congress — explains here why sound money means a new gold standard. Writing in the clearest possible terms, Paul explains the basics of paper money and its effects of inflation, business cycles, and government growth. He maps out a plan to bring about a dollar that is as good as gold — one protected against manipulation by government and central bankers. Part of that strategy is the minting of a new gold dollar, but the more far-reaching plan involves a redefinition of the dollar and complete monetary competition. Written in 1981, this monograph has been in wide distribution ever since. Henry Hazlitt provides the foreword, and Murray Rothbard the preface.
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