In an ideal system a dollar would be a unit of weight and paper money would operate strictly as warehouse receipts for the stock of the monetary metal there would be no fractional reserve banking rothbard offers a rebuttal to the objections to a 100 percent gold dollar raised by professor leland yeager. Case for the 100 percent gold dollar to advocate the complete uninhibited gold standard runs the risk in this day and age of being classified with the dodo bird when the roosevelt administration took us off the gold standard in 1933 the bulk of the nations economists opposed the move and advocated its speedy restoration now gold is considered an absurd anachronism a relic of a tribal fetish gold indeed still retains a certain respectability in international trade as the pre . The case for a 100 percent gold dollar governmentduringthenew deal wasasfirm astherock of gibraltar any hint that the american fractional re servebankingsystemmightbeunsoundorevenindanger was considered even more crackpot and more neander thai than a call for return to the gold standard. The case for a 100 percent gold dollar tags us history gold standard money and banking 07 06 2010 henry hazlitt murray rothbard has put us all in his debt not only by his long masterly textbook man economy and state and other volumes but by his no less masterly pamphlets particularly his model of reasoning and exposition what has government done to our money he puts us further in
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