The Gold Standard Goes MainstreamSubmitted by Michael M. on Thu, 08/30/2012 - 15:24
For any of you that follow the Wall Street Journal, it is typically very establishment and frequently bashes Ron Paul and his views. Today there was actually an article about the gold standard becoming a mainstream topic. The article mentions Ron Paul’s views and even brings up Fredrick Hayek and Austrian economics (both things that I have never seen mentioned before). The liberty movement is working!
Below is a link to the article as well as a piece from it:
The Gold Standard Goes Mainstream
In the ferment within today's Republican Party, there's a growing realization that America's system of fiat money is part of the economic problem.
"In the ferment within today's Republican Party, the gold standard has become almost the centrist position. On the left would be those who favor a system of discretionary activism in which brilliant technocrats, such as Ben Bernanke at the Fed, use their judgment in setting interest rates. A bit to their right would be advocates of a rule, such as John Taylor's rule linking interest rates to various conditions, or one that requires the Fed to target the price of gold but stops short of defining the dollar in terms of specie.
In the center would be advocates of a classical gold standard, in which a dollar is defined as a fixed amount of gold. These include, among others, Mr. Lehrman, James Grant of Grant's Interest Rate Observer, publisher Steve Forbes, economist Judy Shelton, and Sean Fieler of the American Principles Project.
A bit further to the right would be partisans of the Austrian school of economics, including Rep. Paul. He advocates less for a gold standard than for an idea of Friedrich Hayek, the Nobel laureate who came to favor what he called the denationalization of money and a system centered on private coinage and currency that would compete with government-issued money. Further right are purists such as the radical constitutionalist Edwin Vieira Jr., who would simply price things in weights of gold or silver."