Featuring the authors Steve Forbes, Chairman and Editor-in-Chief, Forbes Media; and Elizabeth Ames, President, BOLDE Communications; with comments by Steve H. Hanke, Professor of Applied Economics, The Johns Hopkins University, and Senior Fellow, Cato Institute; moderated by James A. Dorn, Vice President for Monetary Studies and Senior Fellow, Cato Institute.
In Money: How the Destruction of the Dollar Threatens the
Global Economy, Steve Forbes and coauthor Elizabeth Ames
explain how the lack of any anchor for the U.S. dollar after
President Nixon closed the gold window in August 1971 has increased
uncertainty and put us on a pure discretionary government fiat
money system. The Federal Reserve, now in its 100th year of
operation, has become a central bank that serves as the fiscal
agent of a profligate government, not the guardian of sound money.
The authors argue that the 2008 financial crisis would not have
occurred under a true gold standard, nor would government have
become the bloated Leviathan it now is. They advocate returning to
the hallmark of a liberal economic order — namely, a
stable-valued dollar convertible into gold.