Op-ed by William Luther and Alexander Salter, includes “This conventional wisdom is wrong. The gold standard wasn’t perfect, but the fiat dollar has been even worse. Fifty years after the Nixon shock, it is worth remembering how well the gold standard worked. … Despite the Fed’s failure to manage fiat dollars, there is probably no going back to gold. Returning to a gold standard lacks a viable political coalition, and it isn’t obvious that a gold standard would work well after 50 years of Fed management.”
Read the full article on: The Wall Street Journal