If he replaced the Fed with the gold standard, what would he do if the gold bubble burst?

FORBES: Will Rick Perry Bail Out the Bursting Gold Bubble?

The insidious double standard remains, with no sign of abating: the Fed, the main source of so many of our current financial woes, is still seen by most as a force for good in the world, as a prescient and astute regulator dedicated to systemic safety and soundness.

FORBES: An Overleveraged Fed Punishes Better-Capitalized Banks

The Fed's policy, together with Smoot-Hawley, had turned the gold standard into a global-recession machine.

ECONOMIST: A refresher on the 1930s

Auditing the Fed, replacing Fed monetary policy discretion with a mandatory price rule governing policy, even the gold standard, Nobel Laureate Friedreich Hayek pushed the envelope beyond all of these.

FORBES: Rethinking Money: The Rise Of Hayek's Private Competing Currencies