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June 16th, 2011 1:13 pm
Renewed Interest in the Gold Standard

Politico’s Ben Smith reports that Jeffrey Bell of American Principles in Action is engaged in a 19-stop bus tour of Iowa to drum up support for returning U.S. monetary policy to the gold standard.  According to Bell, focus groups of Tea Party activists in the Midwest were “astonishing” in their support for the issue.

Bell’s goal is to get the Republican presidential field to incorporate the gold standard into their platforms.  Politico’s Smith explains the issue’s allure:

Arguments over the gold standard date back more than a century, and their ideological charge is linked in part to the fact that making dollars convertible to gold would in theory limit the government’s capacity to act in the economy.

For that reason alone, putting a spotlight on the gold standard would be a good investment of time for American voters.

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