Mises Institute
Thursday, January 29, 2026
The price of gold has surged above $5,000 per ounce, and many have noted that central banks are buying more gold for their reserves. Others have claimed this is a flight away from the dollar. That’s true in a narrow sense, but the flight to gold is really more about a flight from fiat currencies overall, and not just the dollar ([link removed]) .
Also today: Murray Rothbard recalls ([link removed]) how some “founding fathers” fought to delete the Bill of Rights.
Ryan McMaken, Editor-in-Chief
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Dedollarization? It’s More Like “De-fiatization”
Daniel Lacalle
Investors are not abandoning dollars so much as they are abandoning fiat currency in favor of gold. Gold is rising as a share of reserves, but euros and yen are not.
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Why the Federalists Hated the Bill of Rights
Murray N. Rothbard
The Bill of Rights transformed the Constitution from one of supreme and total national power to a partially mixed polity where the liberal anti-nationalists at least had a fighting chance.
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Trump’s Embrace of Economic Leftism Will Destroy the Legacy He’s Desperately Trying to Build
LISTEN + ([link removed])
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The Meaning
of Competition
Competition is a discovery process, not a “perfect” model.
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