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Republicans eye return to gold standard

August 24, 2012
UPI.com
8/24/2012

The Republican Party intends to call for a commission to study returning the United States to the gold standard, the party’s platform committee chief said.

The proposed Gold Commission — expected to be approved next week as part of the party platform at the Republican National Convention — would peg the U.S. dollar to gold instead of to other currencies and interest rates as it is today, Rep. Marsha Blackburn, R-Tenn., the platform committee co-chair, told the Financial Times.

The gold standard was abandoned by Republican President Richard Nixon in 1971.

The platform expected to be voted on in Tampa, Fla., would also call for an audit of Federal Reserve System’s monetary policy, Blackburn told the newspaper.

And now… the rest of the story. …..
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