17 January 2012

Gold standard

I really need to get around to writing a post about (or rather, stitching together some good links about) why fretting about fiat money is a canard and abolishing the Federal Reserve Bank and switching to a gold standard are incredibly bad ideas. But in the meantime, I have a fun info graphic about the gold supply which should make clear many of the reasons why a gold standard is silly, Paul Krugman's old essay The Gold Bug Variations, and Brad DeLong's Why Not the Gold Standard? and On the “Austrian” Hatred of Fractional Reserve Banking, Paper Money, etc.

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