Peter's Blog

When Will the Yen Carry Trade Break?

Decades of negative interest rate policy in Japan have ended. That could mean the end of the $20 trillion “yen carry trade,” once one of the most popular trades on foreign exchange markets, and a chain reaction in the global economy. The yen carry trade is when investors borrow yen to buy assets denominated in […]

What Dollarization Says About Returning to the Gold Standard

Everyone’s heard of Javier Milei, the new president of Argentina, called by Fox News the world’s first libertarian president. He has been in the news for his denunciation of leftism, Marxism, and the sprawling bureaucracy that has trapped Argentina in debt. He’s also taken aim at run-away inflation in Argentina. Inflation in the last year was […]

JP Morgan: Money is Gold and Nothing Else

Our nation’s top financier had it correct 111 years ago: “Money is gold, and nothing else.” J.P. Morgan was convinced of this. Still, government agencies have schemed over the centuries to dismantle the gold standard.  Our guest commenter explains that, even though the Fed still holds gold, there was never a time when the dollar […]

How the Secret Service Abandoned the Gold Standard

A US government operation led by the Secret Service from 1865 covertly dismantled the gold and silver currency system. This strategic move, propelled by two acts of Congress, was a cunning ploy that centralized economic power. A commentator from the Mises Institute explores the little-known involvement of the Secret Service in this historical development, and […]

A Brief History of the Gold Standard

As evidence mounts that the major Western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its death will be painful for the highly indebted advanced economies in North America, Europe, and Japan. History […]

Is There a Path Back to a Gold Standard?

Any suggestion of returning the monetary system to a gold standard is immediately met with howls of protest. “It’s impossible!” were told. But Bettina Bien Greaves who was a translator, editor, and bibliographer for economist Ludwig von Mises’ works argues that there is no practical reason we couldn’t return to a gold standard. The objections […]

Peter Schiff: The Private Sector Can Lead Us Back to a Gold Standard

Peter Schiff recently appeared on the Jay Martin Show. During the interview, he explains how the private sector can ultimately lead the world back to a gold standard.

Bill Introduced in Congress to Put the US Back on a Gold Standard

A bill introduced in the US House would put the American financial system back on a gold standard. Rep. Alex Mooney (R-WV) introduced HR9157. Titled the Gold Standard Restoration Act, the legislation would peg the dollar to a fixed weight of gold.

An Inauspicious Anniversary: Nixon Slams Shut the Gold Window

Fifty-one years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard. Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, on […]

Is There a Case for a Classical Gold Standard?

With the impact of sanctions tanking the ruble, the Russian central bank announced it would buy gold from local banks at a fixed rate. The move had the desired effect. The ruble quickly recovered. But the Central Bank of Russia abandoned the de facto gold standard almost as fast as it implemented it. Why?