[George W. Bush]

The gold standard? Wasn’t it going off the gold standard that gave us full control over the wilder swings of the business cycle? Which was, like, a good idea?

ummm, like, no.

The United States has never had a full gold-backed currency system. We have always had some fiat money.

Ron Paul favors transition, meaning the introduction of an alternative gold/silver currency to compete with other monetary and financial instruments (Fed currency, credit cards, debit cards, etc.).

If we can have Paypal operate as legal tender, why not gold and silver coins? I don't get the panic. The market can determine their popularity.

[ari-freedom]

I don’t think 2 currencies will work because people will pay their debts in the fiat money and lock up their gold money.

http://en.wikipedia.org/wiki/Gresham’s_Law

[uxbridge]

Advocating a return to the gold standard would seem to be a requirement for any candidate who is serious when they take their oath to support and defend the Constitution of the United States against all enemies, foreign and domestic.

Remember that Article I, Section 8 gives Congress the power to coin money...it also prohibits the states from issuing bills of credit (in the parlance of the Founders...that was paper money). Did this mean the feds had the power to issue paper money? Of course not, the feds had the power to coin money...but nowhere was it given the power to emit bills of credit...and, hard as it is to believe now among people who don't know much about the Constitution, it was well understood at one time that any powers not expressly delegated to the federal government in the Constitution, the feds do not have.

Anyone familiar with the debates over ratification of the Constitution will remember that one of the strongest arguments the Federalists had against the Anti-Federalists was that the US Constitution would do away with the scourge of paper fiat money...the tool of free-spending, fiscally irresponsible governments everywhere....and something that was causing financial chaos in most of the colonies

So, economics aside...those who are faithful to the Constitution can only advocate a gold-backed dollar (or some other precious metal-backed currency)...either that, or advocate an actual amendment to the Constitution to give the federal government the power to issue fiat currency