Central banks are the biggest scam ever perpetrated on mankind.  Not just the biggest ever, the biggest that ever will be.  Central banks just create inflation.  Inflationism is not a policy.  It’s just destruction.  The end result of central banking is the destruction of society.  Inflation might give the illusion of plenty.  However, it’s just capital consumption.  They are the biggest threat we face in the world today.

Central banking relies on circular reasoning.  People trade their paper dollars for goods.  People accept them because others will, or must—depending on laws.  Paper dollars are used because they expect someone to be foolish enough to accept them.  Gold is a regression, not circular.  Gold was accepted today because it was accepted yesterday.  This can be regressed to the first indirect exchange.  It was accepted the day before, in barter, because it had value.

Prices don’t rise like water in a cup.  They rise unevenly.  The early receivers benefit at the expense of the late receivers.  The early receivers spend the money at the old prices.  Prices then begin to rise, and the late receivers have been spending old money at new prices.  This holds true even with a mythical government helicopter.  The early risers spend the new money at the old prices, the late risers suffer.

One of the most sophisticated arguments for central banks is when they say gold isn’t elastic enough.  That is said so the layman thinks economics is too difficult, and thinks it should be left to some esoteric group.  All this means is the state can’t counterfeit gold.  That is a huge barrier to how much money they can take from you.  Gold money protects your freedom.  Checks to freedom have been removed once money is paper.

The arguments against gold are ridiculous.  They aren’t even arguments.  It will be called: a barbarous relic, pet rock, and so forth.  A serious argument will never be mounted against it.  It can’t.  The central banks of the world are the root of evil.  Just think of anything that destroys liberty, its likely that paper money is the primary cause.  Legal counterfeiting will continue to happen as long as the masses remain ignorant.

References

Ludwig von Mises; Money, Method, and Market Process

Ludwig von Mises; Economic Policy