The Good Old Days of the Gold Standard? Not Really, Historians Say
By GCRU Gold News on Wednesday, December 2 2015, 03:24 - Permalink
“You can do a lot better than a gold standard,” said Michael Bordo, an economist and director of the Center for Monetary and Financial History at Rutgers University. He described the political interest in the precious metal as “pretty crazy.”
The gold standard was invented to constrain government spending. Nations that agreed to exchange money for gold thought twice before printing more money. And lately, Republicans have found themselves yearning for such restraint.