About the Book
"Paul Nathan, an expert on the gold standard, has written the definitive modern guide to returning to a gold standard that will work for global markets that are far different than those that existed in the 1970s when the U.S. moved off the gold standard. Written for beginning and professional readers, Nathan succinctly and clearly explains the nature of sound money, the causes and cures of inflation and deflation, the importance of fiscal responsibility within a sound monetary system, and the reasons for recessions and depressions. He then offers guidance on how we can lean toward a gold standard (that doesn't involve extremist positions of abolishing the Fed and the like) that will strengthen the dollar, reduce debt, and help stabilize the economy. Booms and busts can never be prevented but depressions and recessions can be avoided with a sustainable, stable monetary policy. Finally, Nathan presents strategies for investing in gold now and in the future. Readers will learn that the international run toward gold is not a fad but a world in monetary transition. Everyone needs to understand what this means for their investments and their spending and saving"--
Book Synopsis
The guide to returning to a gold standard
All that glitters is gold and gold has never glittered so much as it has in the last decade, reaching staggering new prices in recent years. The definitive modern argument to returning to a gold standard, The New Gold Standard succinctly and clearly explains the nature of sound money, the causes and cures of inflation and deflation, the importance of fiscal responsibility within a sound monetary system, and the reasons for recessions and depressions.
- Little has been written beyond academic histories of the gold standard, but gold standard expert Paul Nathan fills that void for the first time
- Written for beginning and professional investors, the book provides guidance on how a gold standard will strengthen the dollar, reduce debt, and help stabilize the economy, offering easily applied strategies for investing in gold now and in the future
- The degree of depressions and recessions and the boom bust cycle can be avoided with a sustainable, stable monetary policy
- The international return to gold is not a fad but a sign of a world in monetary transition
As long as governments continue to print money and deficits continue to rise, gold will be a hot commodity. As inflation creeps up, more and more talk will turn to returning to some version of the gold standard, and The New Gold Standard is the first major work to explicitly address the challenges and benefits of such a move.
From the Back Cover
AS CONFIDENCE in the U. S. dollar approaches an all-time low, the price of gold continues to soar with no end in sight. For the first time in nearly a century, the question of whether to return to the gold standard is being hotly debated in both the press and academic circles. It isn't hard to see why: in the wake of the global credit crisis and successive rounds of quantitative easing, nervous investors have begun seeing the specter of Weimar-era hyperinflation looming around every corner.
But can restoring the gold standard really bring sustained stability to the global economy as its advocates contend, or will it, as its detractors insist, only serve to put the brakes on economic growth?
As author Paul Nathan sees it, the question of whether or not governments decide to make the move to a gold standard has been made irrelevant by the new international gold rush. The market has spoken, and, like it or not, we are already on our way to a de facto gold standard.
The New Gold Standard is the definitive guide to establishing a gold standard designed for the realities of the 21st century. Offered here, is a scrupulously researched, deeply thoughtful consideration of the core issues along with thought-provoking solutions, elements of which will appeal to even the most left-progressive of readers.
Under the gold standard, as first devised by no less a genius than Sir Isaac Newton and refined by Thomas Jefferson and the Founding Fathers, the U. S. dollar had the same buying power at the end of the 19th century as it did in the beginning. During the 20th century, after having moved entirely off the gold standard, the dollar was worth 97% less. But, according to Paul Nathan, that doesn't mean we can simply set the clocks back to 1913. Ever mindful of the realities of a technologically integrated world financial system, he explains the nature of sound money, the causes and cures of inflation and deflation, the roots of recessions and depressions, and the meaning of fiscal responsibility within a sound monetary system. He then describes steps governments can take to gradually reintroduce a gold standard that will strengthen the dollar, reduce debt, and help stabilize the economy. Finally, he offers investors sound strategies for investing in gold now and in the future.
Informative, thought-provoking, and controversial, The New Gold Standard is must-reading for policymakers, finance professionals, and individual investors, as well as thoughtful readers searching for answers amidst the chaos of a global economy at the precipice.
About the Author
PAUL NATHAN is an exclusive contributor of articles on gold for kitco.com. With more than one million hits a day, kitco.com is the leading site for gold bugs worldwide. He wrote articles in the '70s for the Freeman and today writes a weekly commentary and market update for hard money enthusiasts and investors at paulnathan.biz. Nathan was there at the birth of the Libertarian Party, and his mother was the first national candidate to run on the Libertarian Party ticket in 1972. Nathan began writing on monetary and economic matters in 1968 while studying under Ayn Rand and Alan Greenspan at the Foundation for the New Intellectual.
