The Gold Standard on Jeopardy
January 25, 2018
“The Gold Standard” was a category of questions on “Jeopardy” last night. The questions involved knowing what “fiat” money is, how the gold standard stifles inflation, and FDR’s thieving confiscation of privately-owned gold in the 1930s. (Citizens had to give up almost all their gold to the government at about $21/ounce or face a $10,000 fine and ten years in prison. The government then sold the gold for $35/ounce for a tidy profit).
Dr. Thomas DiLorenzo [send him mail] is president of the Mises Institute. He is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; The Problem with Socialism; and The Politically-Incorrect Guide to Economics.
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