Make America gold again: Calls for everyone's favorite standard are back

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By Michelle Jamrisko
Bloomberg News
Tuesday, May 17, 2016

When times are tough, new economic theories get a better hearing. Maybe some old ones too.

The gold standard is one of the oldest ideas about money, but the hardest of hard-money hawks sense an opening to breathe new life into it. Decades ago, the amount of cash circulating in a country was often limited by the stash of bullion held in its coffers. Especially since 2008, developed-world policy has headed in the exact opposite direction, expanding the powers of central banks to stoke growth. Helicopter drops of money, potentially the next new thing, would be a giant leap further.

For those in the U.S. who see much risk and little benefit in the current course, gold is still a rallying point. And their audience may be growing.

"The fringe has become the mainstream," said Jesse Hurwitz, a U.S. economist at Barclays Capital in New York. He sees the gold standard as a bad idea but "something we'll increasingly talk about." ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-17/make-america-gold-agai...



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