Never have the world's moneys been so long cut off from their metallic roots

Never have the world's moneys been so long cut off from their metallic roots

Murray Rothbard, a prominent economist and libertarian thinker, was known for his staunch advocacy of the gold standard and his criticism of fiat currency. In his writings, Rothbard often lamented the departure of the world's money from its metallic roots, arguing that this move had led to a host of economic problems.

Rothbard believed that the gold standard provided a stable foundation for the monetary system, as it tied the value of money to a tangible and limited resource. By contrast, fiat currency, which is not backed by any physical commodity, is subject to manipulation by governments and central banks. Rothbard argued that this manipulation leads to inflation, economic instability, and a loss of purchasing power for individuals.