This is a pretty good article on the history of money in the US from Jim Quinn’s blog, The Burning Platform. It shows the addiction people have for easy money.
A gold standard can never succeed in the face of the insatiable demand for credit. It is why there will always be fiat money and why the only hope for a sustainable money system is to separate the roles of money between competing forms. Gold for saving and fiat for spending and loaning. These two forms must compete for capital and have their values dictated by the market, not some convening authority or manipulative operation.
Money in America, Part One
A romp through history First there was the Spanish silver dollar In colonial times, they used it as de facto money, as did many other places. Other specie was also commonly accepted. But the Spanish silver dollar was the most widely used coin in the colonies. It maintained a reputation as the most honest coin […]