Mises Institute: George Ford Smith This will be brief, appropriate to the topic at hand. It consists of a quote from Milton Friedman found in Joseph Salerno’s outstanding book, Money: Sound and Unsound: If a domestic money consists of a commodity, [such as] a pure gold standard or cowrie bead standard, the principles of monetary policy are very simple. There aren’t any. The commodity money takes care of itself. (emphasis added) Imagine that. If we have sound money,
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