"In a single sentence, President James Madison, the primary author of the US Constitution, summed up why he mandated a gold dollar in Article I Section 10:
The only adequate guarantee for the uniform and stable value of a paper currency is its convertibility into specie [gold] — the least fluctuating and only universal currency.
There’s a lot in here. Madison defines what we want: “a uniform and stable currency.” He explains why gold achieves this: “the least fluctuating and only...
Why Gold Is Still The Best Money
The only adequate guarantee for the uniform and stable value of a paper currency is its convertibility into specie [gold] — the least fluctuating and only universal currency.
There’s a lot in here. Madison defines what we want: “a uniform and stable currency.” He explains why gold achieves this: “the least fluctuating and only...
Why Gold Is Still The Best Money