Mises Daily Email

Friday, December 5, 2025

The dollar isn’t about to disappear, but it’s clear that fiat currencies are in trouble. Central banks have embarked on an unprecedented wave of gold purchases, and gold has overtaken the US dollar and euro as the main asset in central banks for the first time in 40 years.

By the way, is there anything that the Federal Reserve can’t make worse with monetary inflation? Not even college football is immune.

Ryan McMaken, Editor-in-Chief

The Inevitable Decline of Developed Nations’ Fiat Money

Daniel Lacalle

We are living through a historical monetary change. The first nation to adopt sound money and fiscal policies will win. The rest will lose.

READ MORE +

War

Tom Woods on opportunity costs, parasitic “defense” spending, and the myth of wartime prosperity.

LISTEN +

The Unjustified Conflict: Grant’s Memoirs on the Mexican-American War

A young soldier exposes the lies.

LISTEN +

Do WNBA Players Really Want to Be Paid What They Are Owed?

If one uses the discounted marginal revenue product as a guide, the answer to their demand would be “zero.”

When Ulysses S. Grant Tried to Annex the Dominican Republic

President Grant’s efforts to annex Santo Domingo were, in part, a last gasp of earlier Republican efforts to send freed slaves off to “colonies” in Central America.

America’s History of Self-Medicating: Opioids versus Alcohol

No drug czar is needed, and the DEA can go home as well. People will self-medicate one way or another, with the government’s blessing or without.

War Drums for Venezuela and the Financialization of College Football

Connor, Tho, and Ryan review the week.

WATCH NOW

The Misesian

In the latest issue of The Misesian, we give readers a sense of what happens at Mises University by featuring lectures and photos from the event, as well as testimonials from students.