Reply To: Mises and the Gold Standard


Thanks for the quick response, but I’m still a little confused. When you say that even today gold is used in inter-country exchange, how exactly do you mean? Is China buying our debt with gold? Is the German government buying natural gas from Russia in gold? I thought that the US dollar being the official reserve currency meant that everything was traded in dollars or local currencies.

As far as the point that government cannot eliminate by force people getting their preferences satisfied, does he mean this to apply to gold/money specifically, or is it more of the general argument that is used in the sense of “government can’t really ban religion because even if they do people will still worship in secret?” That type of “government cannot effectively ban something because people will resist and find ways around it” argument applies to practically everything, not just money, right?