Ron Paul Suggests Return to the Gold Standard

Representative Ron Paul (R-Texas), who is running for GOP presidential nomination proposes to return to the gold standard as a solution to Chinese currency manipulation. Paul said the gold standard would solve complaints by U.S. officials that China’s weak currency gives it an unfair trade advantage. “You wouldn’t have competing devaluations in currency that lead to trade wars.” Speaking at the Cato Institute, Paul also claimed that China is not the only country guilty of currency manipulation, implying that we also manipulate our currency in the US.