Freedom in Money: Gold, Crypto, and the Fed

For the government to undermine a nation’s currency, as the Federal Reserve has done, a money printer isn’t enough. If the state truly wants to give its currency power, it must also wage ideological war against alternatives to fiat, like gold and silver, to prevent citizens from using sound money.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

This article is adapted from a lecture presented at the 2025 Supporters Summit in Delray Beach, Florida.

Economic freedom should include freedom in money. It’s a freedom even, as we say these days, that advanced economies don’t have. My guiding text for this talk is Friedrich Hayek’s celebrated essay “Choice in Currency.” That is chapter 7 of this excellent book—Hayek for the 21st Century: Essays in Political Economy—that the Mises Institute has published. It’s a classic text, and I hope you’ll all take a look at it if you haven’t.