YAL in Action

Check out YAL activities on campus and updates from around the liberty movement.

Tag: Fiat Currency
  • The Case for Bimetallism and Commodity Currencies

    There is an old classical story about a king named Midas who made a wish with the gods that everything he touched would turn into gold. At first, things seemed to be excellent. He had gold blankets, a gold table, a gold castle. But after awhile, things did not seem so good. Every time he …

  • The Near Future of the Dollar, Gold, and Silver

    Since 2001, the dollar has lost 81% of its value compared to gold. With the Federal Reserve now printing an average of $85 billion per month, the dollar is being watered down even further compared to the value of gold. As Moneyball author Michael Lewis wrote in his book Liar’s Poker, “If the United States …

  • Money Monday – My Experience Buying Gold and Silver Bullion Coins Last Week

    Suiting action to words last week, I finally made a trip to a local coin store in my city to start my run on the global fiat banking system by letting their bad money drive the good money (gold and silver) into my new hoard of inflation-proof value. I’m hoping that when the fiat money …

  • Forty Years of Fiat Money: A Lament

    August 15, 1971…a date which will live in infamy. Behind closed doors and under a cloak of silence, President Nixon and his trusted team of Treasury officials and economic advisors decided on one of the most dramatic economic moves in American history:  They removed the dollar from the gold standard. The decision came at a …

  • The Franc Is too Damn High

    As the US and Europe continue to struggle with their debt and deficit crises, Switzerland is beginning to feel an economic downturn as well. Exports are dropping off, manufacturers are struggling, and their central bank is trying desperately to keep their currency under control. What is the problem in Switzerland? Their currency is strong….too strong. …

  • Inflation Sparks Food Riots Worldwide

    As the Federal Reserve continues to weaken our dollar with massive bond-buying programs that are intended to stimulate the economy, we should realize how bad inflation is to countries that don’t have developed economies. Sure, inflation is still a problem, but at least in the US there aren’t food riots everyday (not yet at least). …

  • Why Gold Prices Are Setting New Records

    With gold prices nearly doubling in the past 3 years—recently surpassing $1500 an ounce—one might be wondering:  How high can it go? The Daily Reckoning believes gold prices still have  the potential to reach even higher numbers and are urging people to invest in precious metals sooner rather than later: We don’t expect the gold …

  • Gold Standard Increasing in popularity

    Last year Robert Zoellick, the head of the World Bank, suggested that countries consider a return to some form of a gold standard.  He said that “Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.” Within 24 hours, Zoellick’s comments were attacked by many economists arguing …

  • What is Your Currency of Choice?

    Shouldn’t you have a choice? What is valuable to you? Do you love paper so much that you’ll work 40 hours a week for it to put food on the table? More at www.silverunderground.com.

  • Debt is Prosperity

    Treasury Secretary Timothy Geithner has been making the rounds over the past few weeks lobbying for Congress to raise the debt ceiling. According to him, if we don’t increase our debt limit, we will effectively default on our debt. “On August 2nd, we’re left running on fumes, We have no capacity to borrow,” Geithner said …