Killing the Gold Standard

June 15, 1865. German-American statesman Carl Schurz is traveling to Washington to meet with President Andrew Johnson when he stops at a friend’s home in Philadelphia. That night, during a séance, a teenage medium claims to summon the spirit of Abraham Lincoln… and delivers Schur ...  Show more

June 8, 1191. The Crusaders and Muslim forces are locked in battle over the city of Acre. On one side is Saladin, the great Muslim leader who has already recaptured Jerusalem. On the other, an armada arrives carrying England’s king: Richard the Lionheart.The Crusades will become ...  Show more

In 1971, President Richard Nixon changed the rules of money because foreign countries being paid in U.S. dollars grew skeptical when the U.S. Treasury was printing more and more money to cover our debts, and they began exchanging their dollars directly for gold in earnest, deplet ...  Show more

In the second episode in our series on bad ideas David talks to the political economist Helen Thompson about the gold standard, which was meant to anchor the world economy until it all fell apart a hundred years ago. Why does gold so often appear like a stable basis for money in ...  Show more

As banks collapse and governments run out of money, the popular solution is to print more and more and expand bank balance sheets. But is there another way of fixing our economy? Would the financial system be more stable if each pound in our pocket was backed by gold? The Today p ...  Show more

Melvyn Bragg and guests discuss the system that flourished from 1870 when gold became dominant and more widely available, following gold rushes in California and Australia. Banknotes could be exchanged for gold at central banks, the coins in circulation could be gold (as with the ...  Show more