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Republicans eye return to gold standard

Posted By Adan On August 23, 2012 @ 3:26 pm In Economic Crisis,Tile | Comments Disabled

Robin Harding and Anna Fifield
Financial Times
August 23, 2012

The gold standard has returned to mainstream US politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy.

Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold.

The move shows how five years of easy monetary policy – and the efforts of congressman Ron Paul – have made the once-fringe idea of returning to gold-as-money a legitimate part of Republican debate.

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