{"product_id":"the-new-gold-standard-isbn-9781118043226","title":"The New Gold Standard","description":"\u003cb\u003e\u003ci\u003eThe\u003c\/i\u003e guide to returning to a gold standard\u003c\/b\u003e  \u003cp\u003eAll 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, \u003ci\u003eThe New Gold Standard\u003c\/i\u003e 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.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eLittle has been written beyond academic histories of the gold standard, but gold standard expert Paul Nathan fills that void for the first time\u003c\/li\u003e \u003cli\u003eWritten 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\u003c\/li\u003e \u003cli\u003eThe degree of depressions and recessions and the boom bust cycle can be avoided with a sustainable, stable monetary policy\u003c\/li\u003e \u003cli\u003eThe international return to gold is not a fad but a sign of a world in monetary transition\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAs 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 \u003ci\u003eThe New Gold Standard\u003c\/i\u003e is the first major work to explicitly address the challenges and benefits of such a move.\u003c\/p\u003e \u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003ePreface xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I: Gold and the Domestic Economy\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Why Gold? 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGold: The King of Metals 4\u003c\/p\u003e \u003cp\u003eGold Becomes the Standard of the World 5\u003c\/p\u003e \u003cp\u003eToo Little Gold—Or Too Much Paper? 6\u003c\/p\u003e \u003cp\u003eThe “Gold Prevents Prosperity” Myth 8\u003c\/p\u003e \u003cp\u003eIn Gold We Trust 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Gold Standard: A Standard for Freedom 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Money Is 15\u003c\/p\u003e \u003cp\u003e.AndWhat Money Is Not 18\u003c\/p\u003e \u003cp\u003eThe Nature of Inflation 20\u003c\/p\u003e \u003cp\u003eThe Fiat Standard at Work 22\u003c\/p\u003e \u003cp\u003eThe Illusion of Prosperity 23\u003c\/p\u003e \u003cp\u003eThe Meaning of the Gold Standard 25\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Why Prices Have Not Skyrocketed 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOn Human Action 28\u003c\/p\u003e \u003cp\u003eQuantity versus Values 31\u003c\/p\u003e \u003cp\u003eThe Quantity of Money and the Gold Standard 32\u003c\/p\u003e \u003cp\u003eToo Little Fiscal Responsibility Chasing Too Many Politicians 33\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Inflation\/Deflation Conundrum 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Cause of the Recent Spike in Commodities 38\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Central Banking in the Twenty-First Century 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Rise of Populism 42\u003c\/p\u003e \u003cp\u003eA World in Transition 45\u003c\/p\u003e \u003cp\u003eThe Fed of the Twenty-First Century 48\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II: The International Gold Standard \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Making of an International Monetary Crisis 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMonetary Theory: Past 57\u003c\/p\u003e \u003cp\u003eNo Curb on Governments 58\u003c\/p\u003e \u003cp\u003eThe Policy Makers 59\u003c\/p\u003e \u003cp\u003eThe Process of Confusion 60\u003c\/p\u003e \u003cp\u003eCondemnation of Gold 61\u003c\/p\u003e \u003cp\u003eEvolution of the Theory 62\u003c\/p\u003e \u003cp\u003eFractional Reserve Banking 63\u003c\/p\u003e \u003cp\u003eThe Great Depression 65\u003c\/p\u003e \u003cp\u003eDevaluation in 1934 66\u003c\/p\u003e \u003cp\u003eBretton Woods 67\u003c\/p\u003e \u003cp\u003eThe Theory Projected 67\u003c\/p\u003e \u003cp\u003e“If at First You Don’t Succeed .” 69\u003c\/p\u003e \u003cp\u003eThe SDR: As Good as Gold Again! 70\u003c\/p\u003e \u003cp\u003eDebt Amortization or Default: The False Alternative 71\u003c\/p\u003e \u003cp\u003eThe Frightening Prospect of an International Debt 72\u003c\/p\u003e \u003cp\u003eToward an International Fiat Reserve System 74\u003c\/p\u003e \u003cp\u003eSimply Repetitious 75\u003c\/p\u003e \u003cp\u003eThe Real Meaning of Monetary Reform 75\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Death of Bretton Woods: A History Lesson 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFixed Exchange Rates, Flexible Rules 80\u003c\/p\u003e \u003cp\u003eExport or Devalue: Institutionalizing the Devaluation Bias 82\u003c\/p\u003e \u003cp\u003e“Hot Money” Blues 84\u003c\/p\u003e \u003cp\u003eThe Role of the Dollar under Bretton Woods 85\u003c\/p\u003e \u003cp\u003eLimited Gold—Unlimited Dollars: A Formula for Disaster 86\u003c\/p\u003e \u003cp\u003eConfidence versus Liquidity—A Two-Tier Tale 87\u003c\/p\u003e \u003cp\u003eGold’s Limitations: A Blessing in Disguise 87\u003c\/p\u003e \u003cp\u003eU.S. Balance of Payments Problems 89\u003c\/p\u003e \u003cp\u003eThe First Straw 89\u003c\/p\u003e \u003cp\u003eOn Selling One’s Cake and Wanting It Too 89\u003c\/p\u003e \u003cp\u003eThe Illusion of the Last Straw 90\u003c\/p\u003e \u003cp\u003eThe High Price of Gifts 91\u003c\/p\u003e \u003cp\u003eOn Domestic Dreams and International Nightmares 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Who’s Protected by Protectionism? 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Few Principles 97\u003c\/p\u003e \u003cp\u003eEnter Protectionism 98\u003c\/p\u003e \u003cp\u003eTrade between Nations 99\u003c\/p\u003e \u003cp\u003eTo Protect the Balance of Trade 100\u003c\/p\u003e \u003cp\u003eTo Protect Domestic Markets 102\u003c\/p\u003e \u003cp\u003eTo Protect Domestic Wages 102\u003c\/p\u003e \u003cp\u003eProtectionism: The Greatest Threat to Prosperity 104\u003c\/p\u003e \u003cp\u003eThe U.S. Balance of Payments Problem in Perspective 106\u003c\/p\u003e \u003cp\u003eThe Protection Racket 106\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III: Returning to a Gold Standard \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Are the Fiat and the Gold Standards Converging? 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Monetary System Needs to Know Its Limitations 113\u003c\/p\u003e \u003cp\u003eReduced Leverage Equals Reduced Speculation 115\u003c\/p\u003e \u003cp\u003eThe Process of Convergence 116\u003c\/p\u003e \u003cp\u003eA New Day 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Gold: The New Money 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRediscovering Gold 123\u003c\/p\u003e \u003cp\u003eThe International “Walk” on Gold 124\u003c\/p\u003e \u003cp\u003eCompeting Monies 125\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 How Not to Advocate a Gold Standard 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Intrinsic Worth Argument 130\u003c\/p\u003e \u003cp\u003eThe Store of Value Argument 131\u003c\/p\u003e \u003cp\u003eGold Price Predictions 132\u003c\/p\u003e \u003cp\u003eThe Legal Tender Argument 133\u003c\/p\u003e \u003cp\u003eThe Official Price of Gold Fetish 134\u003c\/p\u003e \u003cp\u003eThe Devaluation Syndrome 137\u003c\/p\u003e \u003cp\u003eThe Stop Printing Money Argument 139\u003c\/p\u003e \u003cp\u003eThe Demonetization Threat 140\u003c\/p\u003e \u003cp\u003eOn Context, Cause, and Effect 142\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV: Investing in Gold\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Lessons of a Life-Long Gold Investor 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOn Trading 151\u003c\/p\u003e \u003cp\u003eThe Rules of the Game 152\u003c\/p\u003e \u003cp\u003eWhen to Be Flexible 154\u003c\/p\u003e \u003cp\u003eAnd When to Stick to Your Guns 156\u003c\/p\u003e \u003cp\u003eOn Investing 157\u003c\/p\u003e \u003cp\u003eShakeouts 160\u003c\/p\u003e \u003cp\u003eTurning a Disadvantage into an Advantage 163\u003c\/p\u003e \u003cp\u003eOn Leverage 164\u003c\/p\u003e \u003cp\u003eWhen to Sell a Stock 167\u003c\/p\u003e \u003cp\u003e“Be Afraid. Be Very, Very, Afraid ” 168\u003c\/p\u003e \u003cp\u003eHow to Own Gold 170\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 My Final Word on Gold 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOn Bretton Woods II 173\u003c\/p\u003e \u003cp\u003eThe New SDR Threat 175\u003c\/p\u003e \u003cp\u003eOn QE 2 178\u003c\/p\u003e \u003cp\u003eThe Banking System of a Free Society 181\u003c\/p\u003e \u003cp\u003eIn Conclusion 183\u003c\/p\u003e \u003cp\u003eRecommended Reading 185\u003c\/p\u003e \u003cp\u003eBibliography 189\u003c\/p\u003e \u003cp\u003eAbout the Author 191\u003c\/p\u003e \u003cp\u003eIndex 197\u003c\/p\u003e  \u003cp\u003e\u003cb\u003ePAUL NATHAN \u003c\/b\u003eis 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 \u003ci\u003eFreeman \u003c\/i\u003eand 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.   \u003c\/p\u003e\u003cp\u003eAS 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. \u003c\/p\u003e\u003cp\u003eBut 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? \u003c\/p\u003e\u003cp\u003eAs 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. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe New Gold Standard \u003c\/i\u003eis the definitive guide to establishing a gold standard designed for the realities of the 21\u003csup\u003est\u003c\/sup\u003e 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. \u003c\/p\u003e\u003cp\u003eUnder 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 19\u003csup\u003eth\u003c\/sup\u003e century as it did in the beginning. During the 20\u003csup\u003eth\u003c\/sup\u003e 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. \u003c\/p\u003e\u003cp\u003eInformative, thought-provoking, and controversial, \u003ci\u003eThe New Gold Standard \u003c\/i\u003eis 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.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990296936677,"sku":"NP9781118043226","price":39.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118043226.jpg?v=1761787248","url":"https:\/\/k12savings.com\/products\/the-new-gold-standard-isbn-9781118043226","provider":"K12savings","version":"1.0","type":"link"}