Thanks to the Mises Institute for posting another great article by Robert Murphy. Read his concise defense of the gold standard here. Note the chart regarding consumer prices. See how it really starts to go up at the beginning of the 1970's - that's when President Richard Nixon put the final nail in the coffin when he closed the international gold window.
By the way, I own and highly recommend Murphy's book, The Politically Incorrect Guide to Capitalism.
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