The True Gold Standard (Second Edition)
Fox Business Exclusive, aired February 23, 2011
Former Reagan Gold Commissioner Lewis E. Lehrman on why the U.S. should shift the economy to a modern form of the gold standard with Neil Cavuto.
The point is to go forward to a modernized gold standard…It’s the least imperfect system we have available to put the control of money supply back in the hands of the people. —Lewis E. Lehrman, Fox Business… Read more
Ralph Benko discusses the gold standard, the principles of a strong economy and Reagan’s economics and gold standard approach.
There have been three great waves of economic growth under the Reagan doctrine, the Kemp doctrine and supply side economics: Reagan’s cutting marginal tax rates, Clinton’s free trade and welfare reform, and Bush’s tax cuts. We have a wonderful opportunity to engineer a fourth great wave of prosperity by bringing in the gold standard. —Ralph Benko… Read more
Alan Greenspan discusses United States monetary policy and the Gold Standard in a live interview on Fox Business in 2007.
Some mechanism has to be in place that restricts the amount of money which is produced either a gold standard or currency board or something of that nature. Because unless you do that all of history suggests that inflation will take hold with very deleterious effects on economic activity. —Alan Greenspan, Fox Business Interview… Read more
President Nixon announced a dramatic change in monetary policy. Nixon ends the Bretton Woods International monetary system with the gold standard.
I have directed Secretary Connelly to suspend temporarily the convertibility of the dollar into gold or other reserve assets, accept in amounts and conditions determined to be in the interest of monetary stability and in the best interest of the United States. —President Nixon, August 15, 1971… Read more
Franklin D. Roosevelt effectively abandoned the gold standard after Herbert Hoover’s presidency, when the gold standard was the basis of the US currency.
Our international trade relations though vastly important are secondary to the establishment of a sound national economy. —FDR, 1933Franklin D Roosevelt acted on this pledge and abandoned the gold standard six weeks later on April 19, 1933. … Read more