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.”
“The weaker the dollar, the bigger the government,” Forbes said.
Since 1971 when the United States left the gold standard completely, the value of the dollar has gone down 80%, Forbes said. The U.S. government maintained a gold price of $35 per ounce until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed price.
http://townhall.com/columnists/pauldykewicz/2014/07/15/lack-of-gold-standard-hurts-us-economic-growth-forbes-says-n1862183?utm_source=thdaily&utm_medium=email&utm_campaign=nl
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.”
“The weaker the dollar, the bigger the government,” Forbes said.
Since 1971 when the United States left the gold standard completely, the value of the dollar has gone down 80%, Forbes said. The U.S. government maintained a gold price of $35 per ounce until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed price.
http://townhall.com/columnists/pauldykewicz/2014/07/15/lack-of-gold-standard-hurts-us-economic-growth-forbes-says-n1862183?utm_source=thdaily&utm_medium=email&utm_campaign=nl
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