What would happen if the world went back to the gold standard and actually backed their currencies with something of value? First, let’s examine how the gold standard came to be and how it came to be overthrown. Then we’ll discuss the why and how of a new gold standard.
We are used to money being issued and controlled by the state – but if we look at its history we see that money originates from the free market. Without money, a reasonable division of labor would not be possible.