That gold was used as money in the past is merely a historical fact. But the fact that gold was a form of private money, and thus not easily manipulated for government schemes, made it a target of countless intellectual and governmental assaults.

Original Article: “They Don’t Hate Gold Because It’s Gold. They Hate It Because It’s Not Government Money.

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.

Author:

Ludwig von Mises

Ludwig von Mises was the acknowledged leader of the Austrian school of economic thought, a prodigious originator in economic theory, and a prolific author. Mises’s writings and lectures encompassed economic theory, history, epistemology, government, and political philosophy. His contributions to economic theory include important clarifications on the quantity theory of money, the theory of the trade cycle, the integration of monetary theory with economic theory in general, and a demonstration that socialism must fail because it cannot solve the problem of economic calculation. Mises was the first scholar to recognize that economics is part of a larger science in human action, a science that he called praxeology.

Listen to the article by Mises here https://mises.org/library/they-dont-hate-gold-because-its-gold-they-hate-it-because-its-not-government-money-0

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