Forbes article suggests a return to gold standard is in the works to help end inflation.

[Twilight Hue]

The Signs Are There: The Gold Standard Is Coming Back

Even though the historical gold standard is almost universally reviled by economists, events are pushing us to a new monetary system based on the yellow metal.

www.forbes.com

Personally I don't see it happening , but it would be nice to see a worldwide responsible economy come back. Can it be done?

Possible?

Impossible?

 

[Heyo]

The Signs Are There: The Gold Standard Is Coming Back

Even though the historical gold standard is almost universally reviled by economists, events are pushing us to a new monetary system based on the yellow metal.

www.forbes.com

Personally I don't see it happening , but it would be nice to see a worldwide responsible economy come back. Can it be done?

Possible?

Impossible?

"Contrary to numerous myths based on ignorance, the system worked. The U.S. was on a gold-based system for 180 years until the early 1970s. We never had inflation when the dollar’s value was tied to the yellow metal, and the U.S. experienced the greatest long-term economic growth in human history."

That's bull****. And also misleading, as deflation can be even more devastating on the economy than inflation, like in the years following Black Thursday in '29. The Gold Standard did nothing to prevent the Great Depression.

In a healthy economy, the circulating money roughly equals the value of all assets. Binding it to just one commodity only functions when the value of that commodity is much greater than the rest.

So, not only don't I see the Gold Standard coming back, it would also be nonsense.