• “How the ‘Reserve’ Dollar Harms America,” The Wall Street Journal, November 21, 2014
    For more than three decades we have called attention on this page to what we called the “reserve-currency curse.”
  • “The Reserve-Currency Curse Revisited,” The Wall Street Journal, September, 2014
    For three decades we have called attention on this page to what we called the “Reserve-Currency Curse.”
  • “Lehrman: U.S. Ambassador to the Court of St. James,” Cato Journal, Spring 2014
    To evaluate the history of the Federal Reserve System, we cannot help but wonder, whither the Fed? and to consider wherefore its reform—even what and how to do it.
  • “Go Forward to Gold – How to Lift the Reserve,” Currency Curse National Review, December 15, 2008
    The most disturbing aspect of the current financial crisis is that no U.S. official has correctly identified its primary cause. Ignored is the main culprit: the dollar’s role as the world’s main official reserve currency.
  • “The Curse of Being a Reserve Currency,” The Wall Street Journal, January 4, 1993
    For other countries to increase their foreign exchange reserves, the reserve currency country, the U.S., must purchase more wealth abroad than it sells—ie. run a balance-of-payments deficit.
  • “Whither Gold,” Morgan Stanley, September 15, 1989
    This short research note discusses the forecast of gold in an investment portfolio including the relative under- or overvaluation of gold and U.S. equities.
  • “Gold in a Global Multi-Asset Portfolio,” Morgan Stanley, March 4, 1988
    Since gold is uncorrelated, rather than negatively correlated, with financial assets, it is not surprising that the addition of gold to a financial portfolio can have very different effects.
  • “To Move Forward, Go Back to Gold,” The New York Times, February 9, 1986
    The damage inflicted on our workers and industries by the overvalued dollar has demonstrated that free trade without stable exchange rates is a fantasy. The argument for gold as a stable currency has rarely been stronger than it is today.
  • “Protectionism, Inflation, or Monetary Reform,” Morgan Stanley, November, 1985
    This is the seventh in a series of strategic-issue essays by “good thinkers” that have been published on subjects ranging from gold, supply-side economics, to world debt problem.
  • “Golden Antidote to High Interest,” The Wall Street Journal, June 29, 1984
    Only the gold monetary standard can renew faith in the fixed value of all future money payments on borrowings bonds, mortgages, stocks and other long-term financial contracts.
  • “Let’s Talk Money at Williamsburg,” The Wall Street Journal, May 11, 1983
    Only a world currency will work. That is why having national currencies convertible to gold—an international money—has worked in the past and will work again. Only the U.S. can take the lead.
  • “If We Had ‘Real’ Money We Could Still Salvage the Reagan Revolution,” The Washington Post, February 20, 1983
    The gold standard is unfashionable among the political, bureaucratic and academic elites. But so, until 1980, was President Reagan—and he won without them, because he was right.
  • “Lehrman Urges Return to Gold Standard,” The Washington Times, 1983
    Lewis Lehrman talks with Washington Times columnist John Lofton about the Reagan administration’s handling of monetary policy-and he tells what he would do to solve economic problems.
  • “Time to Return to the Gold Standard?” U.S. News & World Report, Inc., September 7, 1981
    In these ‘Pro and Con’ interviews Lewis E. Lehrman discusses the wisdom of returning to a gold standard and defining the dollar’s value in terms of gold.
  • “Should We and Could We Return to the Gold Standard?,” The New York Times, September 6, 1981
    President Reagan appointed a commission of 17 experts to review the issue of gold. Its specific task was to determine whether the metal should once again play a dominant role in the domestic and international monetary system.
  • “A Glittering Economy,” The Washington Post, July 22, 1981
    President Reagan was elected to end inflation and restore the economy. He is moving in that direction…but the economic program will not work without a BALANCED BUDGET and the GOLD STANDARD.
  • “The Case for the Gold Standard,” The Wall Street Journal, July 30, 1981
    Under the gold standard, the immense national debt could be refinanced very long term at an interest rate of 5% or less, thus saving billions. The road to the BALANCED BUDGET is paved with the gold standard.
  • “The Origin of Money 4000 BC — 1700 AD,” July 1, 1981
    It seems that money evolved through a historical process not unlike that of trial-and-error or natural selection.
  • “The Case for the Gold Standard,” Morgan Stanley, May 1, 1981
    This interview includes reflections on the struggle for financial order including returning to a gold standard.
  • “The Case for the Gold Standard,” Silver & Gold Report, March 1981
    This exclusive interview with Lewis Lehrman includes a thorough-going discussion of why he favors the gold standard, how to return to it, and what effect it would have on the economy.
  • “The Means to Establishing Financial Order,” The Wall Street Journal, February 18, 1981
    The true means by which to achieve the goal of a stable value for the dollar is a remobilized discount rate at the Federal Reserve Bank, joined to a true international gold standard.
  • “How to End Inflation,” The Washington Post, January 18, 1981
    Inflation is the transcendent issue of our times. Inflation is to our generation what depression was to our grandparents. Inflation, if not stopped, will revolutionize our nation and its social institutions.
  • “The Struggle for Financial Order in the Western World,” 1981
    A free people can have a nominal paper dollar; or they can have a real dollar, defined by its weight in gold, which is the historic American monetary standard. When we had a sound dollar, we had no serious inflation.
  • “Real Money,” Harpers, August 1, 1980
    The world economy of the nineteenth century was, above all, characterized by the gold standard. Each great power defined its currency by a weight unit of gold and guaranteed convertibility, at that rate, of cash into gold.
  • “Total Economic and Monetary Reform. Stop the Battle for Reagan’s Soul.,” The Wall Street Journal, June 16, 1980
    There is intellectual combat going on in Governor Reagan’s camp. Some call it a struggle for Reagan’s soul.
  • “Gold is Not a ‘Side Show’,” The Wall Street Journal, February 20, 1980
    The lagged correlation between the rise and fall of Federal Reserve Bank credit and the rise and fall of gold is not perfect, but there is compelling association between the two.
  • “Monetary Policy, the Federal Reserve System, and Gold,” Morgan Stanley, Jan 29, 1980
    This essay presents the economic and political issues of the 1970’s and 1980’s, similar to the present, including the complex interrelationship between Federal Reserve Bank policy, inflationary expectations, the financial markets, and the price of gold.
  • “Up, Up and Away!,” The U.S. Debt Reader’s Digest, September 1, 1977
    The runaway momentum of federal expenditures is threatening this country’s very independence.
  • “Inflation and Civilization,” October 5, 1977
    The very idea of civilization is unthinkable without the institution of money; the endurance and advance of the culture of the city is inextricably bound up with the soundness of its monetary institutions.
  • “Money and the Coming World Order: The Creation of International Monetary Order,” New York University Press – 1976
    Today, national economic policy making is largely concerned with the problems of unemployment and inflation.