Money and Freedom
To argue for a full gold standard is to risk being classed with the dodo bird.
Source: Mises Institute
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DW NOTE
Rothbard's argument was that fractional-reserve banking is fraud, not innovation — that the promise to redeem on demand what you have already lent out is a lie with a government backstop. The appeal of that view in August 2026, with the Fed holding rates at 3.5% while inflation stays above target and the deficit runs at 6% of GDP, is that it names the arrangement plainly: monetary expansion serves the borrower, and the largest borrower is the state.