The Gold Standard Plank

As you probably know by now, the Republicans added a plank to their platform to study a potential return to the gold standard. This was, of course, met with wide derision by the liberal media (redundant, sorry). As a trained economist, I can see both sides of the argument, and each has a certain degree of merit.

I was rather shocked to see a Yahoo finance article that treated the subject pretty evenhandedly. You can read it here.


2 thoughts on “The Gold Standard Plank

  1. Joe Bills says:

    Since Value is subjective, I guess the best we can hope for is a store of value that is as honest and as stable as possible.

    I was thinking that maybe we in private industry could by-pass the FRN and use a special “Commodity ETF”. This ETF could contain a very diverse collection of fairly stable commodities. Something like this would at least be transparent and redeemable.

    • occamsedge says:

      I agree, mostly. The problem with using gold is that the dollar has lost 82+ % of its’ value since the US abandoned it. If we restored the gold standard, the price would have to be well north of $12,000 per ounce. Ready for that?

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