What They are Saying...


Hugo Salinas Price
, founder of Mexico's Elektra retail chain and sound money advocate

"Fiat money has destroyed humanity’s normal way of life; a way of life in which men and women could find their places and were thankful to have them. That old way of life is gone; the old attitudes toward life and work have been erased. "
Moneda de Plata para Mexico, September 24, 2012


Steve Forbes
, editor, publisher, and businessman

"Romney should also steal a page from Ron Paul and, by echoing the words of John Kennedy, declare that the dollar should be as good as gold."
Forbes Asia Magazine, February 13, 2012


Newt Gingrich
, Former House Speaker and 2012 GOP Presidential Candidate

"We need a commission on gold and solid currency much like the one Ronald Reagan had in 1981, and I am delighted that Lew Lehrman and Jim Grant have agreed to be the chairmen."
CPAC, February 10, 2012


Deon Long, attorney, and running for the Republican nomination to challenge Democrat incumbent U.S. Sen. Bill Nelson in 2012

"A return to the gold standard would be akin to exposing a vampire to sunlight. The gold standard would return America to the foundation of stable money, free from the present machinations of the federal government -- no more quantitative easing. America’s leaving the gold standard coincided with the destruction of the American middle class."
Sunshine State News, December 29, 2011

Steve Forbes, editor, publisher, and businessman

"If the gold standard had been in place in recent years, the value of the U.S. dollar would not have weakened as it has and excessive federal spending would have been curbed." "The constantly changing value of the U.S. dollar leads to marketplace uncertainty and consequently spurs speculation in commodity investing as a hedge against inflation."
Human Events, May 11, 2011

 

Alan Greenspan, former Chairman, Federal Reserve

“We have at this particular stage a fiat money which is essentially money printed by a government and it's usually a central bank which is authorized to do so. Some mechanism has got to be in place that restricts the amount of money which is produced, either a gold standard or a currency board, because unless you do that all of history suggest that inflation will take hold with very deleterious effects on economic activity. There are numbers of us, myself included, who strongly believe that we did very well in the 1870 to 1914 period with an international gold standard.”
Fox Business News, January 21, 2011

 

Manuel Hinds, former Finance Minister of El Salvador and the co-author of "Money, Markets and Sovereignty," which won the Manhattan Institute's 2010 Hayek Prize

Mentioning the gold standard that prevailed all over the world during the Industrial Revolution brings about derisory comments, some of them suggesting that the value of gold was based on fetishism. This is a mistake. The gold standard was a highly rational system. It kept prices constant through centuries and provided an automatic mechanism to remove international imbalances, such as those that are creating today's currency wars, without the help of any international bureaucracy.
The gold standard achieved this not because of any mystical property of gold itself but because it was an impersonal system. Central banks or governments could not tamper with monetary creation. This is what we need today.
Wall Street Journal, December 20, 2010

 

Thomas Hoenig, President, Kansas Federal Reserve

“The gold standard is a very legitimate monetary system,"
January 5, 2011

 

William Kristol, Editor, Weekly Standard

“And it's worth further asking – as more and more people are beginning to ask--whether a modernized international gold standard, which anchors currencies to a standard outside government manipulation, wouldn't better serve the interests of free and limited government both at home and abroad. After all, it's the dollar's status as a reserve currency that has allowed the U.S. government to amass huge debts, debts which the legislatively imposed debt ceiling has been unsuccessful in limiting. Fiat currency seems to be related to bloated and unlimited government, and to speculative bubbles, and to international instability.”
Weekly Standard Blog, January 17, 2011

 

Mike Pence, U.S. Representative, Indiana

“I think the time has come to have a debate over gold, and the proper role it should play in our nations monetary affairs. A pro-growth agenda begins with sound monetary policy.”
Detroit Economic Club, November 29, 2010"
 

Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff
(1896-1978)

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