7 Reasons to Return to the Gold Standard
Lewis Lehrman and John Mueller, principals of the financial-markets consulting firm LBMC LLC, hoped to attract the attention of then-President Elect Barack Obama in 2008 when they laid out the advantages to returning the United States to the gold standard:
- A gold standard makes balancing the budget economically and politically feasible.
- Increased price stability and lower inflation.
- An end to the unchecked increase of our national debt.
- Global economic stimulus without increased debt.
- More competitive American industry and a decrease in trade deficits.
- Less pressure for trade protectionism and a higher acceptance of free trade.
- The end of chaotic “floating” currencies valued against each other.
Returning to the gold standard and ending the use of the U.S. Dollar as the international reserve currency makes all of these goals possible.
There’s no time to delay. We don’t want to end up like Zimbabwe.