Furthermore, there has never been a secular inflation of the kind we have experienced since the U.S. went off the gold standard under a gold standard.
FORBES: Obama's Policies Make China Stronger And The U.S. Weaker
And while this columnist considers the gold standard to be the gold standard of monetary policy it will need to make its case empirically, rather than doctrinally, before a neutral body.
FORBES: Forget Howard Jarvis And A California Tax Revolt, Is A Money Revolt On The Way?
Reagan-era economic growth, and gold standard proponents such as financier and Gold Commissioner Lewis Lehrman and author and former Kemp presidential co-chair Jeffrey Bell (with both of whom this writer is professionally associated) have been notable in their advocacy for a 21st century gold standard, as has such a respected figure as Steve Forbes.
Some people have been asking me what I think of the gold standard proposal by Lewis Lehrman, as expressed in his most recent book The True Gold Standard: A Monetary Reform Plan Without Official Reserve Currencies.
This effect was not caused by the gold standard system itself, but rather from the decisions made as to how to return to a gold standard system after a period of floating currencies.
The monetization of gold through legal tender laws and removal of taxes will restrain the government from reneging on the gold standard by putting gold on an equal footing with the dollar.
FORBES: The Legislative Beginnings Of A Modern Gold Standard
Regarding the first advantage, some believe that humanity has already found the ideal monetary standard in gold.
Finally, a gold standard produces trust in the dollar because gold has the unique characteristic of maintaining its buying power over time.
If he replaced the Fed with the gold standard, what would he do if the gold bubble burst?
In addition to all of these tax issues, the U.S. in the early 1930s was on a gold standard where paper currency was legally convertible into gold.
WSJ: Arthur B. Laffer: Taxes, Depression, and Our Current Troubles
Both assumptions are certainly valid, but ignored are the many attributes of a gold standard that would make the country that issues gold-defined money very attractive to creditors.
FORBES: A Gold Standard Would Be Great, But It's Not a Deficit Cure
The gold standard achieved this not because of any mystical property of gold itself but because it was an impersonal system.
What would it take to set up a genuine gold standard with a working mechanism for converting US dollars into gold on demand?
FORBES: The Death Certificate Of The Paper Dollar: Where To Next?
Brian Domitrovic, former presidential candidate Steve Forbes, philanthropist Sean Fieler (chairman of American Principles in Action, which actively promotes competing currencies together with the gold standard), and the eminence grise of the conservative gold proponents, Reagan Gold Commissioner Lewis E.
FORBES: The Grave Economic Consequences Of Money For Nothing
This promise can be verified every minute of the day by observing the current rate of exchange between the dollar and gold, and, under a classical gold standard, by exchanging currency at a national bank for gold coins of a fixed weight and purity.
So you could even put the switch down to the slow death of that natural deflation built into the Gold Standard (or rather its step-nephew, the Gold Exchange system), starting at the very same time as US stockholders kissed goodbye to earning a premium each year above Treasury yields.
FORBES: Dividend-Yield Signal Screams Deflation Or Back-Up-The-Truck
Under the old gold standard system, a currency could be converted into fixed amounts of gold and vice versa.
The gold standard, where a dollar is defined by a weight unit of gold, will enable people to use the same currency at a secured value.
FORBES: The Legislative Beginnings Of A Modern Gold Standard
In the center would be advocates of a classical gold standard, in which a dollar is defined as a fixed amount of gold.
You want a kind of gold standard, with the dollar and other hard currencies acting as a substitute for gold.
Some have even called for a return to the gold standard, meaning each dollar would have to be backed by an ounce of gold.
FORBES: Ex-IMF Chief: Emerging Markets to Dominate World; Dollar to Lose Power
Under the post World-War II gold standard, growth averaged 4% compared to less than 3% since going off gold.
FORBES: Obama's Policies Make China Stronger And The U.S. Weaker
In the case of a gold standard system, the policy target is to create a currency whose value is fixed to gold.
Under the high Victorian Gold Standard, the Bank of England was allowed to issue banknotes over and above the actual gold-backing held in its vaults.
FORBES: End The Euro Zone Crisis Now: Let PIIGS Borrow Against Their Gold
Back in the good old USA, the Republican Party, with a dramatic nod to the gold standard, adopted a platform plank calling for a monetary reform commission, with a broad nod to gold, causing a worldwide buzz.
FORBES: Signs Of The Gold Standard Are Increasingly Emerging...Worldwide
But the gold standard in the 19th and early 20th centuries, under which the value of many currencies was set in terms of gold, has long been abandoned.
Actually, the closest the world came to the restoration of the pre-1914 gold standard began with the Roosevelt move in 1934, resuming an international guarantee of the dollar at a fixed price in gold.
FORBES: Trashing The Gold Standard is Now The Stuff Of Amateurs
Hayek himself, out of a deeply-rooted (and honestly earned) pessimism about government opposed the gold standard.
FORBES: The Grave Economic Consequences Of Money For Nothing
The tool that all governments have used, in this case, is a gold standard system.
FORBES: We Are Happily Beyond The Days Of Ron Paul's Lonely Crusades
All movies are displayed in 1080p resolution at 24 frames per second, the cinematic gold standard.
ENGADGET: VUDU first on-demand service to sell HD and HDX movies HD
应用推荐