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The Best Way Back to a Gold Standard

Written By: Bob Adelmann  |  Posted: Saturday, December 24th, 2011

            In his Forbes magazine article published Thursday, Nathan Lewis makes it sound easy to get back to a gold standard. After all, it has been accomplished numerous times in history around the world, including in America following the Civil War.

            The first way is a "return to prior parity," which would mean making a dollar redeemable in gold at $35 an ounce. Lewis points out that this would be impossible as it would entail a huge shrinkage in the money supply and a consequent depression. So option one is out. 

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