Ron Paul Suggests A Return To The Gold Standard

Presidential candidate and Texas Congressman Ron Paul believes that a return to the gold standard would reduce some of the problems we have seen in the economy over the last four years. He believes that the current fiat money system will not be maintained, as exemplified by Europe’s turmoil and the worldwide financial crisis in 2008. The problem with fiat money is that the Fed can simply print money, which solves short-term problems but creates long-term instability in the financial system. Paul suggests that there would be a transfer period in which gold and silver would be used as legal tender. He cites that after the Civil War our government went from fiat money to the gold standard with little problems.

http://www.ibtimes.com/articles/258162/20111129/ron-paul-revisits-the-gold-standard-vs-paper-money.htm