What is it about the gold standard that i do not understand? i really think it to be irrelevant in reality and a potential problem if fools rush in to apply it willy nilly. We also now live in an age in which crypto currency will remove currency control out of the hands of our central banks regardless. It will take time, but it is not going away, not least because it is outside individual control.
What it certainly restrains is the capacity for comparative currency manipulation but that is better tackled with trade negotiations and confrontations. Gold standards will not stop deliberate devaluations at all but actually encourage it in the face of deteriorating market confidence as it did in the past.
We presently have 80 trillion in global fiat money which is 25 times that apparent gold supply. So what? Gold is a marginal tool for settlement.
Trump Fed pick wants to revive the gold standard. Here's what that means
By Aimee Picchi
Updated on: July 3, 2019 / 5:15 PM / MoneyWatch