Comment: CAN THE U.S. RETURN TO A GOLD STANDARD?

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CAN THE U.S. RETURN TO A GOLD STANDARD?

OK, I'm the first to agree that Greenspan became corrupted by the dark side and got totally full of himself in the glamor and lime light when he was part of the "Committee to Save the World" along with Robert Rubin and Larry Summers. However, there was once a time when Greenspan had more pure motives and I would direct you to a WSJ OpEd from September 1, 1981 titled "Can The US Return To A Gold Standard?" in the following link.... http://www.gold-eagle.com/greenspan011098.html.

Greenspan raises some very important issues about what the price of gold would have to be in a transition back to a gold standard to prevent either an inflation or a deflation, which provides good grist for the mill for discussion. It's very easy to take pot shots at Greenspan over his legacy, but it takes more effort to get a vigorous discussion going about how monetary reform can and will take place. Any takers out there?

Ed Rombach