• Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.

    Murray Rothbard: Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.
    Murray Newton Rothbard (1981). “What Has Government Done to Our Money?”, p.90, Ludwig von Mises Institute