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Gold, Peace, and Prosperity: The Birth of a New Currency (LvMI) [Kindle Edition]

Ron Paul , Henry Hazlitt , Murray N. Rothbard
3.9 out of 5 stars  See all reviews (21 customer reviews)

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Book Description

Ron Paul — the leading champion of sound money in the Congress — explains here why sound money means a new gold standard. Writing in the clearest possible terms, Paul explains the basics of paper money and its effects of inflation, business cycles, and government growth. He maps out a plan to bring about a dollar that is as good as gold — one protected against manipulation by government and central bankers. Part of that strategy is the minting of a new gold dollar, but the more far-reaching plan involves a redefinition of the dollar and complete monetary competition. Written in 1981, this monograph has been in wide distribution ever since. Henry Hazlitt provides the foreword, and Murray Rothbard the preface.

To search for Mises Institute titles, enter a keyword and LvMI (short for Ludwig von Mises Institute); e.g., Depression LvMI

Product Details

  • File Size: 1002 KB
  • Print Length: 111 pages
  • Simultaneous Device Usage: Unlimited
  • Publisher: Ludwig von Mises Institute (April 7, 2011)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B004VSA8D6
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Not Enabled
  • Lending: Enabled
  • Amazon Best Sellers Rank: #721,009 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

3.9 out of 5 stars
3.9 out of 5 stars
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Most Helpful Customer Reviews
99 of 101 people found the following review helpful
5.0 out of 5 stars A Gold Standard Without State Intervention November 6, 2007
Ron Paul's easy-reading 57-page monograph addresses the history and current condition of our money and banking system, which he argues is solely responsible for inflation. Dr. Paul, a rising star among presidential candidates, originally entered politics in the 1970s because of his strongly-held convictions about Austrian economics in general and honest money in particular. Among the points he makes are:

* The 1913 Federal Reserve Act made it possible to finance our catastrophic entrance into WW I.

* The Fed's structure was inherently inflationary, requiring only a fraction of gold backing for notes and deposits.

* Contrary to mainstream views, depressions are the result of creating money out of thin air, which is how Austrian economists define inflation. For obvious reasons the monetary authorities never refer to it this way, but instead describe it as Fed open market purchases, or providing "liquidity" or "accommodation." Inflation thus increases the money supply artificially, an operation identical in its effects to counterfeiting, and fosters the malinvestments that make a correction (recession) necessary.

* Unlike previous panics and recessions in which government stayed out of the way, the 1930s depression was deepened and prolonged by massive government intervention on the part of both Republican and Democratic administrations.

* Popular myth blames unions or business for inflation by jacking up wages or prices arbitrarily. This is an effect, not a cause. inflation is the prerogative of the people in charge of the money supply.

* A "modern" gold standard would end inflation and the boom-bust business cycle. It would also preserve the value of the money we save.
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52 of 53 people found the following review helpful
5.0 out of 5 stars Clarifies the issues December 7, 2007
Lately, if you argue that we ought to return to the gold standard, most people will look at you like you're out of your mind. Unfortunately, most people don't really understand economics.

Read this book if:
- You aren't quite sure what the gold standard is or why we should do it, or if you've never really thought about the issue.
- You're absolutely convinced that the idea is crazy.
- You don't understand what's wrong with inflation or the effect it's having on you.
- You're concerned with the direction of the economy.
- You already believe in the gold standard and want to learn how to defend it better.
- You're a voter. The gold standard may be a big issue in the 2008 election. Plus, Ron Paul himself is running for President; if you're not familiar with him, this book is a great way to find out more about a lot of his positions on economics (I'd also recommend his "Mises and Austrian Economics," which I'm reading now, for that). If you haven't decided who you're going to vote for yet or are unsure as to exactly what you think about the gold standard, you owe it to yourself to read this book. It will certainly help you be an informed voter for this, and future, elections.
For that matter, I recommend this book to just about everyone. This book really helped me understand the issues better. This book avoids using too much economic jargon or getting too technical. It doesn't get bogged down in trivial details. It is concise enough that you can read it fairly quickly, but it is still packed with information. Even if you don't have much training in economics or the word "economics" puts you to sleep (if you had a boring econ professor in college) or gives you a panic attack (if you took econ and hated it), I'd urge you to read this book.
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21 of 23 people found the following review helpful
As a university-trained and licensed financial professional, I fully accepted the monetary status quo. Like most people, I probably would have never given the Federal Reserve System a second thought if I had not been drawn into libertarian political philosophy, based in large part by my appreciation for what I considered "the free market."

When I first encountered anti-Fed arguments, it did not make me abandon the views of the Wall Street Journal (to which I faithfully subscribed) or Kudlow & Company (which was set on "Season Pass" on my TiVo), but rather, I steadfastly defended the Fed in the face of largely baseless and inaccurate attacks by people who had watched Freedom to Fascism and skimmed through The Creature from Jekyll Island. These people were so irrational and so flat-out wrong, that I dismissed Ron Paul's monetary views as crankery and thought he was a good candidate "in spite" of his monetary views.

I doubt I ever would have read this book if not for the fact I was contracted to write a series of articles about gold and silver, one of which was to be about Ron Paul's monetary-policy views.

I read this book in one sitting and it was like a kick in the stomach. It is a very odd experience to realize that everything you believed was horribly wrong in a matter of two hours or so.

What makes this concise little book so excellent is that (1) it doesn't deal in conspiracy theories, and (2) it is backed up by solid free-market economic principles. Ron Paul's view at the time was to instate a gold-coin standard, but he was also open to free-market money and free banking. Now, he's pretty much dropped the former and instead argues exclusively for the latter.
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Most Recent Customer Reviews
5.0 out of 5 stars Five Stars
good read
Published 6 months ago by Earl Cole
5.0 out of 5 stars Looks Good Thanks
Looks Good Thanks
Published 7 months ago by r32
5.0 out of 5 stars Awesome book that anyone can understand.
This book does a fantastic job in framing the issue of currency reform in a manner that the beginner can understand. There are a lot of examples that help illustrate the points. Read more
Published 23 months ago by Rob Lee
5.0 out of 5 stars Ron Paul is truely an American treasure and desperately needed today.
This book should be required reading in economics, or history courses or by the general public. It explains things in a clear, concise, and easily understood manner. Read more
Published on April 8, 2012 by W. Wruble
5.0 out of 5 stars loved this book!
i loved this book! i think every American should read this to understand the problems with our money! worth every min of reading
Published on February 23, 2012 by Thomas
1.0 out of 5 stars GOLD, PEACE AND PROSPERITY
So, WHERE IS THE "advice for prosperity"? Should I too write books without substance or character and pawn it offf as one worth a dime? I think not--PASS ON THIS ONE!!
Published on January 31, 2012 by Paul Laine
5.0 out of 5 stars Go Gold!
Informative analysis of monetary policy and how it affects all other policy.

With even neocons like Newt Gingrich now talking about gold, it is apparent that the message... Read more
Published on January 25, 2012 by Tonewah
5.0 out of 5 stars Ron Paul, The Prophet
Everything Ron Paul has stated while serving in Congrgess has come to fruition! The man is brilliant, and it baffles me how people can oppose a stateman who fights for THEIR... Read more
Published on January 18, 2012 by Joe
1.0 out of 5 stars No thanks Ron
Ron Paul is also a globalist and he and his buddy - the evil George Soros - can keep their "new currency". Read more
Published on January 17, 2012 by Nancy
1.0 out of 5 stars Ron Paul
is wackadoodle and is going nowhere. Take that! A strike from the bunker hidden beneath a nondescript building! Long live the Levinistas.
Published on January 17, 2012 by Paulophobe
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More About the Author

Ron Paul, an eleven-term congressman from Texas, is the leading advocate of freedom in our nation's capital. He has devoted his political career to the defense of individual liberty, sound money, and a non-interventionist foreign policy. Judge Andrew Napolitano calls him "the Thomas Jefferson of our day." After serving as a flight surgeon in the U.S. Air Force in the 1960s, Dr. Paul moved to Texas to begin a civilian medical practice, delivering over four thousand babies in his career as an obstetrician. He served in Congress from 1976 to 1984, and again from 1996 to the present. He and Carol Paul, his wife of fifty-one years, have five children, eighteen grandchildren, and one great-grandchild.Ron Paul, the New York Post once wrote, is a politician who "cannot be bought by special interests." "There are few people in public life who, through thick and thin, rain or shine, stick to their principles," added a congressional colleague. "Ron Paul is one of those few."

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