(Joshua D Glawson, Money Metals News Service) Sound money composed of gold and silver has historically been a way to establish economic and financial stability, build wealth, plan for the future, and hedge against tyrannical government overreach.
The “soundness” in sound money refers to its validity and reliability, much like a sound argument in logic. Coincidentally (pun intended), sound money made of gold or silver also has unique sounds to them when struck – which makes them fairly easy to test for their validity, and consequently their reliability.
In Article 1, Section 10, of the US Constitution, sound money was specified when it said, “No state shall… make any Thing but gold and silver Coin a Tender in Payment of Debts.”
According to Mike Maharrey, precious metals Journalist & Market Analyst at Money Metals, and National Communications Director of the Tenth Amendment Center:
“Over and over again, the founding fathers warned us about paper money. George Washington warned paper money would ‘ruin commerce – oppress the honest, and open a door to every species of fraud and injustice.’ Today we’ve abandoned sound money – gold and silver – and we got exactly what Washington predicted. Thomas Paine may have summed it up best, ‘Money is Money, and Paper is Paper. – All the invention of man cannot make them otherwise.’”
The fight for the US’ return to Constitutionally sound money has been championed most specifically by Money Metals’ Sound Money Defense League, which has helped eliminate taxes on precious metals — gold and silver — in over a dozen states within the past few years.
According to Jp Cortez, Executive Director of the Sound Money Defense League:
“Sound money, gold and silver, protects a country’s money and citizenry from currency debasement and high inflation, while actively restraining the government from overspending. Gold and silver provide constraints on governments that have proven they will otherwise get too large or overspend if given the opportunity.”
To help learn more about sound money, and ways you can escape the dangers of fiat dollars, here are my top 5 recommended books on gold and silver sound money in no particular order:
1 – Good As Gold: How to Unleash the Power of Sound Money
“Good As Gold, by Judy Shelton, provides a comprehensive overview of gold sound money and practical measures that governments can take to reimplement a form of gold standard.
From financial crises, to pandemic price-spikes, to recurring cycles of inflation, everyone agrees: the economy has seen better days.
Judy Shelton—Senior Fellow at Independent Institute, former Chairman of the National Endowment for Democracy, an economic advisor to Donald Trump, and critically acclaimed monetary economist—has written a book with answers.”
2 – The Great Silver Bull: Crush Inflation and Profit as the Dollar Dies
The Great Silver Bull, by Peter Krauth, is an exceptional exploration of silver sound money.
“Silver is your chance to survive and thrive in the next crisis. Silver is a proven inflation hedge and a crucial industrial metal for solar panels, electric vehicles, electronics, and medicine. As the world shifts to green energy, silver demand will soar. Supply will not be able to keep pace.
This book is the essential guide to profiting from silver’s generational opportunity. Whether you are a novice or professional, this book will help you learn silver’s role throughout history and how it is uniquely positioned to benefit from inflation and the green revolution.
You will also learn the secret indicator for rising silver, how silver’s bull market will outperform stocks and bonds, Krauth’s shocking silver price target, what makes an ideal silver portfolio, and importantly, when to sell your silver.
Krauth explores the full investment spectrum, from coins to junior exploration stocks. You’ll learn the SILVER M.A.P. System, a framework that shows you how to build and manage your ideal silver portfolio. This book could mean a world of difference for your future. It might help you sidestep hardship.
Even better, it may be your way to profit from events most do not see coming.”
3 – What Has Government Done to Our Money?
What Has Government Done to Our Money, by Murray Rothbard, is widely considered one of the most influential books on sound money in the modern age.
“Rothbard boils down the Austrian theory to its essentials. The book also made huge theoretical advances. Rothbard was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much.
Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a truly free market.”
4 – Silver Manifesto
Silver Manifesto, by David Morgan and Chris Marchese, is a treatise on a very underappreciated asset class, notably silver.
“During a time when the global economy is in turmoil and more importantly all the major currencies, silver (and gold) are the ultimate safe havens although most in the Western world fail to realize this.
Even most Americans don’t know the U.S. was founded on a silver standard. A fiat monetary system is unviable and led to over 60 instances of hyperinflation in the 20th century.
This treatise covers all aspects of silver, including a monetary history, both worldwide and in the United States. The fundamentals of silver (supply and demand) are examined in detail, including the fact silver is the best conductor of heat and electricity, making it vital to our civilization, especially in technology. There is a high probability that precious metals will once again play an important role in monetary systems around the world.”
5 – Rigged: Exposing the Largest Financial Fraud in History
Rigged: Exposing the Largest Financial Fraud in History, by Stuart Englert, provides key insights into market manipulation, collusion, and dollar deception on a grand scale.
“The largest financial fraud in history is not the colossal accounting crimes of Enron, Bernie Madoff’s record-setting Ponzi scheme, or the infamous Libor scandal, where some of the world’s largest banks profited by manipulating interest rates.
The biggest fraud in history is a covert financial scheme orchestrated by the U.S. government and its banking accomplices. For over a century, these entities have used coercion, deception, and market manipulation to perpetuate the myth that the U.S. dollar is as good as gold and silver.”
Joshua D. Glawson is Content Manager for Money Metals Exchange and is writer on such topics as politics, economics, philosophy, finance, and personal development. He has a Bachelor’s in Political Science from the University of California Irvine.
