Gold Wars
The Battle Against Sound Money
As Seen From A Swiss Perspective
By
Ferdinand Lips
FAME
The Foundation for the Advancement of
Monetary Education
New York, NY
www.fame.org
,Copyright © 2001 by Ferdinand Lips. All rights reserved
No part of this publication may be reproduced, stored in a
retrieval system or transmitted in any form or by any means,
electronic, mechanical, photocopying, recording, scanning or
otherwise, except as permitted under Section 107 or 108 of
the 1976 United States Copyright Act, without either the
prior written permission of the Publisher, or authorization
through payment of the appropriate per-copy fee to the
Copyright Clearance Center, 222 Rosewood Drive, Danvers,
MA 01923, (978) 750-8400, fax (978) 750-4744. Requests to
the Publisher for permission should be addressed to the
Permissions Department, the Foundation for the
Advancement of Monetary Education, Box 625, FDR
Station, New York, NY 10150-0625, (212) 818-1206, fax
(212) 818-1197, E-mail: .
This publication is designed to provide accurate and
authoritative information in regard to the subject matter
covered. It is sold with the understanding that the publisher
is not engaged in rendering professional services. If
professional advice or other expert assistance is required, the
services of a competent professional should be sought.
Lips, Ferdinand
Gold Wars
ISBN 0-9710380-0-7 (paper back)
Printed in the U.S. of America
10 9 8 7 6 5 4 3 2 1
, Gold Wars
What People Are Saying About This Book
“It is the great merit of this provocative book by Ferdinand Lips
to bring back a wider understanding of why gold was a solid base
for economic stability in many societies. As our overextended global
economy is heading for more troublesome times, the global village
will need an unquestionable economic basis again that does not bear
the stamp of any particular country.
Today, as Lips shows in this book, the conceivable entity for
that is gold. Gold is best suited to supply confidence to a troubled
economy and anchor it in reality again. Since antiquity gold has
been a symbol of highest value to humans. Gold, the sun-like
shining yellow metal that has the quality of being incorruptible, is an
adequate metaphor for that inner kernel of human consciousness we
need to become aware of during our lifetimes. This aspect of gold
has always fascinated and inspired us.
All of a sudden, the wish to own a solid base of this yellow
metal may again become the desire of individuals and nations as it
has happened so many times before. Then we may find ourselves –
to our surprise – on the way back to a solid gold standard.”
Prof. Dr. sc. techn. T. Abt
Federal Institute of Technology, Zurich, Switzerland
“I have known Ferdinand Lips since 1994 and those tumultuous
days of the ‘Randgold Revolution’ which changed the face of the
South African gold mining industry. The group of men that led that
change were, and for most part still are, archetypes of the term
‘Gold Bull.’ Mr. Lips strongly believes that gold is the only
currency that politicians can’t print or create. This is a concept,
having lived and worked in Africa my whole life, I have come to
appreciate.
History has proved time and again that gold is an effective
counter to excessive risk. A scholar of monetary policy and a
vociferous promoter of the gold standard, in this book Mr. Lips
presents a very well researched and passionate analysis of financial
- iii -
, Ferdinand Lips
and monetary history. The book comes at a perfect time; never
before has the future been so difficult to predict and the civilized
world been so vulnerable to politics, minority pressure groups and
fanatics. Understanding more of the past might well help us to
successfully navigate the future.
‘Gold and freedom are inseparable’— this is the thesis of Gold
Wars, a manuscript that I recommend every modern day business
person should read!”
Dr. D. Mark Bristow, PhD, Chief Executive Officer
Randgold Resources
“In Gold Wars, Ferdinand Lips takes on what is probably the
most talked about and least understood subject of the times, money.
He is to be admired as he has performed an important task to
provide understanding of this vital subject, moving through history,
to recent developments, to his own experiences as a Swiss banker. It
is his long career in banking that lends vitality and clarity to his text.
He maintains a sharp focus by his use of extensive quotations from
writers and bankers, many of whom were his friends, men who tried
to show the way for sound money and banking and the folly of the
decisions that were being made.
In contrast, he includes the words of other financial and
political leaders, those who instituted the monetary policies that
have lead to the serious monetary problems the world now faces.
The earnestness of his endeavor is clear as he concludes, “The Gold
War is nothing else than a Third World War. It is not only a most
unnecessary but the most destructive of all wars. It should be
stopped now” Indeed, this is a different kind of war story,
fascinating and on-going. Gold Wars is valuable reading.”
Elizabeth Currier, President
Committee for Monetary Research and Education
iv
The Battle Against Sound Money
As Seen From A Swiss Perspective
By
Ferdinand Lips
FAME
The Foundation for the Advancement of
Monetary Education
New York, NY
www.fame.org
,Copyright © 2001 by Ferdinand Lips. All rights reserved
No part of this publication may be reproduced, stored in a
retrieval system or transmitted in any form or by any means,
electronic, mechanical, photocopying, recording, scanning or
otherwise, except as permitted under Section 107 or 108 of
the 1976 United States Copyright Act, without either the
prior written permission of the Publisher, or authorization
through payment of the appropriate per-copy fee to the
Copyright Clearance Center, 222 Rosewood Drive, Danvers,
MA 01923, (978) 750-8400, fax (978) 750-4744. Requests to
the Publisher for permission should be addressed to the
Permissions Department, the Foundation for the
Advancement of Monetary Education, Box 625, FDR
Station, New York, NY 10150-0625, (212) 818-1206, fax
(212) 818-1197, E-mail: .
This publication is designed to provide accurate and
authoritative information in regard to the subject matter
covered. It is sold with the understanding that the publisher
is not engaged in rendering professional services. If
professional advice or other expert assistance is required, the
services of a competent professional should be sought.
Lips, Ferdinand
Gold Wars
ISBN 0-9710380-0-7 (paper back)
Printed in the U.S. of America
10 9 8 7 6 5 4 3 2 1
, Gold Wars
What People Are Saying About This Book
“It is the great merit of this provocative book by Ferdinand Lips
to bring back a wider understanding of why gold was a solid base
for economic stability in many societies. As our overextended global
economy is heading for more troublesome times, the global village
will need an unquestionable economic basis again that does not bear
the stamp of any particular country.
Today, as Lips shows in this book, the conceivable entity for
that is gold. Gold is best suited to supply confidence to a troubled
economy and anchor it in reality again. Since antiquity gold has
been a symbol of highest value to humans. Gold, the sun-like
shining yellow metal that has the quality of being incorruptible, is an
adequate metaphor for that inner kernel of human consciousness we
need to become aware of during our lifetimes. This aspect of gold
has always fascinated and inspired us.
All of a sudden, the wish to own a solid base of this yellow
metal may again become the desire of individuals and nations as it
has happened so many times before. Then we may find ourselves –
to our surprise – on the way back to a solid gold standard.”
Prof. Dr. sc. techn. T. Abt
Federal Institute of Technology, Zurich, Switzerland
“I have known Ferdinand Lips since 1994 and those tumultuous
days of the ‘Randgold Revolution’ which changed the face of the
South African gold mining industry. The group of men that led that
change were, and for most part still are, archetypes of the term
‘Gold Bull.’ Mr. Lips strongly believes that gold is the only
currency that politicians can’t print or create. This is a concept,
having lived and worked in Africa my whole life, I have come to
appreciate.
History has proved time and again that gold is an effective
counter to excessive risk. A scholar of monetary policy and a
vociferous promoter of the gold standard, in this book Mr. Lips
presents a very well researched and passionate analysis of financial
- iii -
, Ferdinand Lips
and monetary history. The book comes at a perfect time; never
before has the future been so difficult to predict and the civilized
world been so vulnerable to politics, minority pressure groups and
fanatics. Understanding more of the past might well help us to
successfully navigate the future.
‘Gold and freedom are inseparable’— this is the thesis of Gold
Wars, a manuscript that I recommend every modern day business
person should read!”
Dr. D. Mark Bristow, PhD, Chief Executive Officer
Randgold Resources
“In Gold Wars, Ferdinand Lips takes on what is probably the
most talked about and least understood subject of the times, money.
He is to be admired as he has performed an important task to
provide understanding of this vital subject, moving through history,
to recent developments, to his own experiences as a Swiss banker. It
is his long career in banking that lends vitality and clarity to his text.
He maintains a sharp focus by his use of extensive quotations from
writers and bankers, many of whom were his friends, men who tried
to show the way for sound money and banking and the folly of the
decisions that were being made.
In contrast, he includes the words of other financial and
political leaders, those who instituted the monetary policies that
have lead to the serious monetary problems the world now faces.
The earnestness of his endeavor is clear as he concludes, “The Gold
War is nothing else than a Third World War. It is not only a most
unnecessary but the most destructive of all wars. It should be
stopped now” Indeed, this is a different kind of war story,
fascinating and on-going. Gold Wars is valuable reading.”
Elizabeth Currier, President
Committee for Monetary Research and Education
iv
