http://www.opposingviews.com/questions/should-the-us-return-to-the-gold-standard Opposing Views - Should the U.S. Return to the Gold Standard? http://www.opposingviews.com/counters/pseudo-science-i-say We're talking at cross-purposes, to be sure. In my "for" arguments, I specifically stated that I do not support a return to the gold standard of ancient history. Rather, I see the gold price as a high-frequency indicator of inflation risks which... Donald Luskin Fri, 07 Nov 2008 10:36:58 -0600 http://www.opposingviews.com/counters/pseudo-science-i-say http://www.opposingviews.com/counters/thank-you-donald-if-i-may Donald (if I may):  I am an admirer of you and Larry Kudlow. I am even more so today as you just made the case for me. You say "How much money it creates and what tools it employs to create it are left entirely at the Fed's discretion as it... Dr. Randall Parker Fri, 07 Nov 2008 10:36:58 -0600 http://www.opposingviews.com/counters/thank-you-donald-if-i-may http://www.opposingviews.com/counters/thank-you-donald-if-i-may Randall, thank you for your kind words. I appreciate that in a debate. I shouldn't have engaged you on the matter of the role of gold standard in the Great Depression, because (as I have said clearly before) that is not what I am advocating. But... Donald Luskin Fri, 07 Nov 2008 10:36:58 -0600 http://www.opposingviews.com/counters/thank-you-donald-if-i-may http://www.opposingviews.com/arguments/keep-the-gold-standard-in-the-history-books Perhaps there are many good reasons to advocate for the gold standard and I am sure many capable people will put these arguments forth. Count me out. The historical record is overwhelming. The gold standard crashed the world economy in the... Dr. Randall Parker Sun, 21 Sep 2008 22:27:03 -0500 http://www.opposingviews.com/arguments/keep-the-gold-standard-in-the-history-books http://www.opposingviews.com/arguments/the-gold-standard-is-fatally-flawed The gold standard is a fatally flawed system since it ties any national price level to changes in the relative price of gold. Since the price of gold is fixed in terms of dollars, if the price of gold relative to bread goes up, then the price of... Dr. Randall Parker Sun, 21 Sep 2008 22:27:02 -0500 http://www.opposingviews.com/arguments/the-gold-standard-is-fatally-flawed http://www.opposingviews.com/arguments/almost-any-standard-would-be-better-than-none Some kind of gold standard, perhaps only a promise of convertibility of paper money into gold on demand, would at least focus the Fed on a single mandate as it goes about the task of deciding how much money to create. For various reasons having to... Donald Luskin Sun, 21 Sep 2008 22:27:01 -0500 http://www.opposingviews.com/arguments/almost-any-standard-would-be-better-than-none http://www.opposingviews.com/arguments/gold-standard-equals-great-depression We can debate the role of the Federal Reserve in the origin and propagation of the Great Depression, but I think it is pretty clear that the economics profession (less the real business cycle folks) puts the responsibility for the spread and... Dr. Randall Parker Sun, 21 Sep 2008 22:27:01 -0500 http://www.opposingviews.com/arguments/gold-standard-equals-great-depression http://www.opposingviews.com/arguments/today-we-are-on-no-standard-at-all The Federal Reserve can, by federal statute, create money at will. The only limit is the statutory mandate to promote maximum employment, stable prices and moderate interest rates. An unwritten mandate the Fed nevertheless follows is to protect the... Donald Luskin Sun, 21 Sep 2008 22:27:00 -0500 http://www.opposingviews.com/arguments/today-we-are-on-no-standard-at-all http://www.opposingviews.com/arguments/there-is-no-single-gold-standard Throughout US history, we have had several different gold standards. Other versions of it have been used at other times and in other places. The simplest gold standard is for money to be exclusively made of gold in the form of coins; the second... Donald Luskin Sun, 21 Sep 2008 22:26:59 -0500 http://www.opposingviews.com/arguments/there-is-no-single-gold-standard