An Actual Plan to Close the Fed and Tie the Dollar Back to Gold

July 24, 2025

This week, Bob returns to the topic of how the United States could practically abolish the Federal Reserve and transition to a stable monetary system backed by gold. He clarifies common misconceptions about the consequences of ending the Fed, provides historical context for America’s monetary systems, and lays out a realistic path forward for monetary reform.

Courtesy of Mises.org

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Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America’s Most Famous KeynesianChaos TheoryLessons for the Young EconomistChoice: Cooperation, Enterprise, and Human ActionThe Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show.


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