The Unadulterated Gold Standard Part IV (Intro to Real Bills)

In Part I (, we looked at the period prior to and during the time of what we now call the Classical Gold Standard.  It should be underscored that it worked pretty darned well.  Under this standard, the United States produced more wealth at a faster pace than any other country before, or since.  There [...]


The Trillion Dollar Coin

There has been much buzz in the past few days about a truly horrible idea.  Instead of having to negotiate with Congress to raise the debt ceiling so the Treasury Department can sell more bonds to pay for more spending, why not just mint a trillion-dollar platinum coin?  This coin would contain one ounce of [...]


The Unadulterated Gold Standard Part I*

*It turns out that we did not publish Part 1 of Keith’s article on “The Unadulterated Gold Standard”. So apologies to readers who read Part II before Part I. Here it is. — JH

 The choice of the word “unadulterated” is not accidental.  There were many different kinds of gold standard, [...]


Open Letter to Hugo Salinas Price

Keith WeinerPresident, Gold Standard Institute USAWeiner (dot) Keith (at) Gmail (dot) Com

Nov 7, 2012

Re: Open Letter to Hugo Salinas Price

Dear Mr. Price:

I read your piece: “On the Use of Gold Coins as Money”.  I think you ask the right question.  This is the elephant in the room.  Why do gold and [...]


KeithGram: Gold — Pieces Of 50

As we move forwards towards a gold standard, we will need many new innovations (as well as a rediscovery of old things that have long been forgotten).  At the Gold Symposium in Sydney Australia, I saw an exhibitor who has a new, innovative product.  They have thin sheets (almost like wafers, especially the gold ones). [...]


Book Review: Free Market Revolution: How Ayn Rand’s Ideas Can End Big Government

In Free Market Revolution, co-authors Yaron Brook and Don Watkins, colleagues at the Ayn Rand Institute, undertook a difficult task.

Since Ayn Rand made the case for egoism as the morality of capitalism in Atlas Shrugged (and more pointedly in Capitalism: The Unknown Ideal), numerous books have argued that free markets produce wealth, discussing various [...]


KeithGram: Search and Replace

“Tax the rich, because blah blah blah and it will help the economy by yada yada yada…”

We should do a global search and replace on “tax” and replace with “punishment”.  And replace all instances of “rich” with “investors and entrepreneurs”.

This will make it clear what will happen.  If they incrementally raise taxes, then [...]


Open Letter To Ted Butler Of Butler Research

Keith WeinerPresident, Gold Standard Institute USA Oct 2, 2012

 Dear Mr. Butler:

 I read your article about silver manipulation at

 I am responding as someone who wants free markets.  I want to make one thing clear before I proceed.  We have no free markets anywhere today.  Without constant government intrusions into the markets, the paper [...]


Falling Interest Rates Destroy Capital

I have written other pieces on the topic of fractional reserve banking  duration mismatch, which is when someone borrows short-term money to lend long-term and how falling interest rates actually encourages duration mismatch. Falling interest rates are a feature of our current monetary regime, so central that any look at a graph of 10-year Treasury [...]


KeithGram: The LIBOR Scandal

By now, most readers are aware that Barclays and probably many other banks have been caught red-handed gaming the London Inter-Bank Offer Rate (LIBOR).

No, I am not going to analyze the “cause”, call for more regulation, propose lawsuits, or lament that “banksters” today are “greedy”. I have a simpler and subtler point.

In the [...]


Money & Credit: Why Duration Mismatch Will Always Fail

I have written a number of pieces on fractional reserve banking and duration mismatch.  I have argued that the former is perfectly fine, both morally and economically, but the latter is not fine.  I have dissected the arguments made against fractional reserve banking, and pointed out that it is nothing more than a bank lending [...]