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Economists pan idea of new U.S. gold standard

Posted By admin On January 20, 2012 @ 4:46 am In Money Watch | Comments Disabled

AFP [1]
January 20, 2012

WASHINGTON — As Republican presidential hopefuls entertain calls to fix the value of the dollar to the price of gold, a panel of leading economists on Wednesday roundly panned the idea of a return to the gold standard.

A poll of nearly 40 bipartisan economists showed no support for the idea that pegging the currency to the price of gold would lead to a more stable US jobs market or keep prices in check.

Asked by University of Chicago whether a return to the gold standard would lead to price-stability and employment outcomes that “would be better for the average American,” 100 percent of respondents said no.

Republican candidate Ron Paul has long advocated a return to the gold standard — which was abandoned by the United States in 1971 and decades before by the rest of the world — but his competitors have also warmed to the idea.

Full article here [1]

 


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URLs in this post:

[1] AFP: http://www.rawstory.com/rs/2012/01/18/economists-pan-idea-of-new-us-gold-standard/

[2] Celente predicts gold standard won’t save US economy: http://www.prisonplanet.com/celente-predicts-gold-standard-wont-save-us-economy.html

[3] Watch congressional hearing by Ron Paul on a return to the gold standard: http://www.prisonplanet.com/watch-congressional-hearing-by-ron-paul-on-a-return-to-the-gold-standard.html

[4] Republicans Consider Returning To Gold Standard: Real Or Red Herring?: http://www.prisonplanet.com/republicans-consider-returning-to-gold-standard-real-or-red-herring.html

[5] World Bank President: My Words Were Manipulated, I Don’t Support A Return To The Gold Standard: http://www.prisonplanet.com/world-bank-president-my-words-were-manipulated-i-dont-support-a-return-to-the-gold-standard.html

[6] Gold Standard Arguments Being Promoted Again: http://www.prisonplanet.com/gold-standard-arguments-being-promoted-again.html

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