Trump Puts Gold Standard On the Table

The Post Journal 

President Trump recently broached the subject of a gold standard for America’s monetary system, which is significant, because no recent president has done so, and the idea has been denigrated by central bankers, politicians, and other popular influencers as a “barbarous relic.” Such a standard, however, would be different from most caricatures made of it.

The monetary regime we have in place now is a fiat money system, “fiat” meaning simply a command or decree. In its essence, it is money created because government has decreed it into existence. Though it was previously linked to gold, it is now simply paper or electronic accounting entries. The dollar now has value as a money simply because it is widely accepted as a medium of exchange, but that is only so because competing currencies have been outlawed by legal tender laws...Continue article here