Inside Track
Forbes: Return to Gold Standard Within Five Years
AP Images
Media mogul and former presidential candidate Steve Forbes told Human Events in July that the Federal Reserve’s inflationary policies have become so destructive that a return to the gold standard is likely within five years. “People know that something is wrong with the dollar,” Forbes said in an exclusive interview with the conservative news magazine, laying the blame for the currency’s infirmity squarely on the Fed, which he said is like “a bull in a china shop” that “can’t help but knock things down.”
“You cannot trash your money without repercussions,” Forbes asserted. Those repercussions are all too familiar to Americans outside the financial and political elite: the still-deflating housing bubble, ever-rising prices for most other goods and services, increasing unemployment, and decreasing standards of living.
Human Events notes that Rep. Ron Paul, the author of End the Fed and a longtime advocate of sound money, is the “only probable 2012 presidential candidate who has championed a return to the gold standard,” but adds that Forbes thinks “the idea ‘makes too much sense’ not to gain popularity” in the current economic climate. Forbes is encouraged that other influential members of Congress, such as Rep. Paul Ryan (R-Wis.), are beginning to question the Fed’s policies as well.
JBS Member or ShopJBS.org Customer?
Sign in with your ShopJBS.org account username and password or use that login to subscribe.
Subscribe Now
- 24 Issues Per Year
- Digital Edition Access
- Exclusive Subscriber Content
- Audio provided for all articles
- Unlimited access to past issues
- Cancel anytime.
- Renews automatically
Subscribe Now
- 24 Issues Per Year
- Print edition delivery (USA)
*Available Outside USA - Digital Edition Access
- Exclusive Subscriber Content
- Audio provided for all articles
- Unlimited access to past issues
- Cancel anytime.
- Renews automatically