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The Case for Gold

In 1982, Representative Ron Paul served on the US Gold Commission, which was charged with evaluating the role of gold in the monetary system.

The majority of the panelists were monetarists, who regarded gold as too scarce and fiat paper as a perfectly fine substitute. Paul's team, however, issued a minority report, which was undoubtedly the greatest result of the Commission.

"The Case for Gold" covers the monetary crisis; the history of money and banking in the US before the 20th century; money and banking in the US in the 20th century; the case for monetary freedom; real money -- the case for the gold standard; the transition to monetary freedom; the next ten years. It explains the benefits of having sound money: prices reflect market realities; government is limited; and the people retain their freedom.

Although written in 1982, it still holds up as an excellent blueprint for moving beyond paper money and into the age of sound money. "More and more people are asking if a gold standard will end the financial crisis in which we find ourselves," Paul writes in the foreword. "The question is not so much if it will help or if we will resort to gold, but when."

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