[Bigtigermike]

Hmmm! Interesting?

[ClearCase_guy]

Gold standard and the Fair Tax. Watch the country grow.

[Lazamataz]

I’m all for it. Nixon decoupling currency from gold had the IMMEDIATE result of Stagflation, rampant inflation, and the ability for the Fed to create money when convenient.

[puppypusher]

I’ll believe that when I see it.

[demshateGod]

“.....help the nation solve a variety of economic, fiscal, and monetary ills”

Then it won’t happen. The government’s goal is not to solve problems. It’s to create perpetual problems in order to shore up power.

[bert]

-——President Richard Nixon embarked upon an experiment to end the practice-——

Nixon did not embark on an experiment. He caved to reality and quit selling American gold at $35 when traders were buying it here and immediately selling it in London for $40 and bringing the $35 back and buying more and then selling it at $40. In two round trips they pocketed $10. Nixon had no choice but to allow the US$ devaluation.

Regarding the 5 year prediction. That might very well happen but the US$ will follow others. Much of the world will adopt some new gold standard before we do.

[shawnlaw]

This is why it won't happen "and discourage reckless federal spending"

[TexasFreeper2009]

um... i thought someone from the fed said recently there wasn't enough gold in the entire world to go back to the gold standard?

[PGR88]

The USA will have to default and/or go bankrupt first. A huge change such as the gold standard (and please NO central bank next time!) could only come about after a major change, such as a war or collapse.

There are way too many inertial forces keeping the US Gov’t and spending on its present course

[MulberryDraw]

Where would the government get enough gold to back all our fiat dollars?

[jtal]

Will never happen - the federal government can’t print gold.

But if you are referring to a government and economic collapse in which people begin using gold (and silver) as defacto currency in the absence of any “official” currency of any value - then yeah, that might happen within five years.

[paulycy]

Have Your Say Every Day.

Free Republic Runs ONLY On Your Donations.
Make Yours NOW and End the FReepathon!

[ctdonath2]

There isn’t enough gold.

And bad money drives out good. It’s nigh unto impossible to go back to good money until the bad is destroyed outright. Fort Knox would be emptied in a week by people cashing out their dollars for gold.

[blam]

India, Indonesia, China, Wider Asia Buy Physical Gold And Silver On Dip As Stagflation Threatens

[RWB Patriot]

The day the government actually does the right thing instead of trying to suppress the people pushing for the right thing, I’ll vote democrat.

[familyop]

See who’s been buying up all of the gold, then decide as to whether you want more of the same kind of leadership, intensified.