Ever since the Ron Paul contingent forced a statement about the Gold Standard onto the party platform, the court pseudo-economists, intellectual body guards of the state have gone to work:
Why the Gold Standard Is the World’s Worst Economic Idea, in 2 Charts “Whether it’s 1896 or 2012, it doesn’t make sense to crucify our economy on a cross of gold.” (Read more from The Atlantic)
Republicans tease with gold standard, but idea seen full of bugs
U.S. Republicans have all but guaranteed the backing of the “gold vote” this November by raising an idea that even the most bullish mainstream bullion boosters believe is unrealistic – a return to the gold standard.
Gold prices would likely surge to $10,000 an ounce, the greenback’s credibility would vanish and global superpowers would risk a new trade war if Republicans were to restore the link between the U.S. dollar and gold that was severed 40 years ago.
But that isn’t stopping Republicans from considering the idea, who will call for a commission to look at restoring a fixed value for the dollar, according to a draft of the party platform to be adopted at the Republican National Convention that begins on Monday in Tampa, Florida.
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