Articles
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How Would a Return to the Gold Standard Work?
Today inflation is hardly noticeable. But what’s coming will be so painful and so disruptive that soaring prices will become the voting public’s number-one complaint. How will the politicians respond?
They will be responding to an audience for whom the idea of fiat money (even with a picture of a dead president on every bill) has been discredited. The obvious alternative to fiat money will be a return to a gold standard, and it’s hard to imagine what competing proposals might get in the way.
In such an environment, being pro-gold will be politically smart. Championing the idea of re-linking the Dollar to gold would serve any politician nicely as an I-dare-you-to-disagree challenge to his competitors. And supporting such a proposal would be a convenient way for politicians to distance themselves from the mistakes of the past.
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