U.S. Gold Standard within 5 years?

In an exclusive interview by Paul Dykewicz posted by Human Events Wednesday, former presidential candidate and business publisher Steve Forbes is predicting a return to the gold standard in the United States within the next five years.

“What seems astonishing today could become conventional wisdom in a short period of time,” Forbes said in the interview.

Forbes asserts, “Such a move would help to stabilize the value of the dollar, restore confidence among foreign investors in U.S. government bonds, and discourage reckless federal spending.  The United States used gold as the basis for valuing the U.S. dollar successfully for roughly 180 years before President Richard Nixon embarked upon an experiment to end the practice in the 1970s that has contributed to a number of woes that the country is suffering from now.”

“If the gold standard had been in place in recent years, the value of the U.S. dollar would not have weakened as it has and excessive federal spending would have been curbed, Forbes told HUMAN EVENTS.  The constantly changing value of the U.S. dollar leads to marketplace uncertainty and consequently spurs speculation in commodity investing as a hedge against inflation,” Forbes added.

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