gold standard


Peak Prosperity

A New Way to Hold Gold (2015 Update)

Right alongside the bills in your wallet
Saturday, February 21, 2015, 10:09 PM

What if you could carry and exchange gold in the exact same manner as you do with the dollar bills in your wallet?

Last year, we introduced the precious metals community to a company called Valaurum, which has developed a technology that's making this possible.

This week, we check in to see what's new (spoiler alert: Lots), as well as announce the availability of the new 2015 Peak Prosperity aurum note. » Read more


This chapter of the new Crash Course series has not yet been made available to the public.

Each week over the rest of 2014, in sequential order, a new chapter will be made publicly available (we've currently published up to Chapter 8)

If you don't want to wait, you can:

Daily Digest

Image by Tax_Credits, Flickr Creative Commons

Daily Digest 8/5 - The Pay Is Too Damn Low, The Renewable Energy Boom that Never Happened

Monday, August 5, 2013, 9:22 AM
  • Can It Get Any Better Than This?
  • Did China Just Fire The First Salvo Towards A New Gold Standard?
  • E Pluribus, Gen X
  • The Pay Is Too Damn Low
  • Health Care Law Raises Pressure on Public Unions
  • Taken
  • The Renewable Energy Boom that Never Happened
  • On R Train, Unwelcome Reminder of Storm’s Impact

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The purpose of this section is to show you that the US government has radically shifted the rules during times of emergency and that our monetary system is really a lot younger than you might think.

In 1933, newly-elected President Franklin D. Roosevelt decided to counter the falling money supply in a most drastic manner. To accomplish this he confiscated all privately-held gold and immediately devalued the US dollar. This goes to show how governments, in a period of emergency, can change rules and break their own laws.

Fast forward to 1971, when President Nixon “slammed the gold window,” ending its dollar convertibility. Without a gold backing, there was no hard, physical limit to how many paper dollars could be issued.

What will it be like to live here when our nation is creating a trillion dollars every four weeks? How about every four days?


Happy 40th Birthday, Fiat Dollar!

You've come (down) a long way, baby
Monday, August 15, 2011, 1:49 PM

Exactly 40 years ago today, on August 15th 1971, the US dollar was released from the cruel tethers of an international gold standard. Today, we find notable monetary authorities seeking its return.

In the middle of a lengthy ~2,500 word speech in which Nixon sought to stabilize prices by implementing price controls and stabilize foreign trade by imposing tariffs, he slipped in these 100 words that sought to stabilize the dollar by going off the gold standard:

In recent weeks, the speculators have been waging an all-out war on the American dollar. The strength of a nation’s currency is based on the strength of that nation’s economy – and the American economy is by far the strongest in the world. Accordingly, I have directed the Secretary of the Treasury to take the action necessary to defend the dollar against the speculators.

I have directed Secretary Connally to suspend temporarily the convertibility of the American dollar except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States.

It turns out that such intervention was actually counterproductive to the stated aims, so we are tempted to suspect that a different set of aims was met instead.  » Read more


The Screaming Fundamentals For Owning Gold And Silver

The investment thesis for precious metals
Wednesday, June 29, 2011, 8:22 AM

This report lays out an investment thesis for gold and one for silver.  Various factors lead me to conclude that gold is one investment that you can park for the next ten or twenty years, confident that it will perform well. My timing and logic for both entering and finally exiting gold (and silver) as investments are laid out in the full report.

The punch line is this: Gold and silver are not (yet) in bubble territory, and large gains remain, especially if monetary, fiscal, and fundamental supply-and-demand trends remain in play.


In 2001, as the painful end of the long stock bull market finally seeped into my consciousness, I began to grow quite concerned about my traditional stock and bond holdings. Other than a house with 27 years left on a 30 year mortgage, these holdings represented 100% of my investing portfolio. So I dug into the economic data to see what I could discover. What I found shocked me. It's all in the Crash Course in both video and book form, so I won't go into that data here.

By 2002, I had investigated enough about our monetary, economic, and political systems that I decided that holding gold and silver would be a very good idea, poured 50% of my liquid net worth into precious metals, and sat back and watched.

Since then, my appreciation for and understanding of the role of gold as a monetary asset and silver as an indispensable industrial metal have deepened considerably.

Investing in gold and silver is still a good idea. Here's why.

Why own gold and silver?

The reasons to hold gold and silver, and I mean physical gold and silver, are pretty straightforward. So let’s begin with the primary reasons to own gold. » Read more