Lack of Gold Standard Hurts U.S. Economic Growth Forbes Says

The absence of a gold standard in the United States is hindering economic growth and leading to ill-fated monetary policies, former Republican presidential candidate Steve Forbes told more than 1,000 attendees during his keynote speech at the FreedomFest conference here.

Forbes confidently reinforced his past advocacy for a return to the gold standard to help stabilize the falling U.S. dollar, reassure foreign investors of the value of U.S. government bonds and spur federal spending discipline. He pointed blame directly at the U.S. government by telling attendees that such intervention is needed because “Big Brother” is “destroying the dollar.”

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