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 libertarian congressman Ron Paul – have made the once-fringe idea of returning to gold-as-money a legitimate part of Republican debate.The Financial Times | U. S. Politics & Policy
Republicans eye return to gold standard
Robin Harding and Anna Fifield
(h/t Zero Hedge)
Really heading off into the bush.
Mark Thoma comments at Economist's View, 'Republicans Eye Return to Gold Standard,' quoting Krugman in 1996 extensively.