The Myths About a Return to the Gold Standard

John Tamny makes the case for a return to a gold standard for US dollars.

[T]here’s a small but growing call for a return to the monetary stability wrought by a gold standard.

The cries for gold are surely exciting given the basic truth that had the dollar been stable this decade, there’s simply no way we’d be in the financial mess we’re in today. When money values gyrate, mistakes with regard to investment and trade are magnified and economic corrections always reveal themselves. A dollar defined in gold terms would not erase all economic mistakes, but it’s a certainty that they would be reduced exponentially.