April 30, 2019 — A century ago, the gold standard was considered a guarantor of monetary stability. That golden era is long-gone. (If it ever really existed at all. The general price level fell 53% in US and 45% in the UK during 1873-1896 due to a dearth of gold deposit discoveries.)
Continuing my thoughts on the Fed candidacy of Stephen Moore: he has said several times that he favors a return to gold. In true Trumpian fashion, he recently denied having said it despite the clear video evidence.